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BUSINESS JOURNAL C
Vol. XXV • No. 17
BY ERIC REINHARDT JOURNAL STAFF
ing company totaled nearly $16.2 million, or 48 cents a share, in the period, compared to $14 million, or 42 cents, in the year-ago quarter. Community Bank’s first-quarter profit surpassed the average analyst estimate of 46 cents a share, according to Thomson Financial data on
SYRACUSE — The State University of New York Upstate Medical University (Upstate Medical) says construction is under way on a five-story, 158,000-squarefoot expansion of the school’s Institute for Human Performance (IHP). The facility is dedicated to biomedical and clinical research, rehabilitation, and education, according to the Upstate Medical website. The expansion is on a two-acre site adjacent to the existing 198,000-square-foot building at 505 Irving Ave. in Syracuse. Upstate Medical says the expansion is a $72 million project that will be financed
See COMMUNITY, page 16
See IHP, page 4
PHOTO COURTESY OF SOLON QUINN STUDIOS
BANKING & FINANCE
Community Bank profit up 15 percent in first quarter BY KEVIN TAMPONE JOURNAL STAFF
ERIC REINHARDT/THE CENTRAL NEW YORK BUSINESS JOURNAL
The exterior of Hotel Skyler at 601 S. Crouse Ave. in Syracuse. The hotel is preparing to welcome guests.
BY ERIC REINHARDT
Solon Quinn, owner of Solon Quinn Studios, a video production company, based in the Syracuse Technology Garden. See story, page 3.
See SKYLER, page 13
Upstate Medical kicks off $72M IHP expansion project
READY, CAMERA, ACTION
SYRACUSE — After seven months of construction work, Hotel Skyler is preparing to welcome guests. The new hotel, located on the edge of the Syracuse University campus at 601 S. Crouse Ave., is a 36,000-square-foot structure that will include 58 rooms over three stories. The building, with columns visible on the façade facing South Crouse Avenue, was previously home to Temple Adath Yeshurun and the Salt City Theatre Group. Norman Swanson, president of the Woodbine Group of Syracuse, announced the project in the summer of 2009. Swanson is also owner and developer of two other hotels near the campus — the Genesee Grande Hotel at 1060 E.
April 29, 2011
Hotel Skyler readies for opening near the SU campus
DeWITT — Earnings rose more than 15 percent in the first quarter at Community Bank System, Inc. (NYSE: CBU), driven by higher net interest income and continued strong asset quality. Net income at the DeWitt–based bank-
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March milk production in New York State increases 3.1 percent New York dairy herds produced 1.1 billion pounds of milk during March, according to a news release from the U.S. Department of Agriculture’s (USDA) National Agricultural Statistics Service, New York Field office. The number of milk cows held steady, but production per cow rose from the previous year — resulting in a 3.1 percent increase in milk production compared to March 2010, the field office reported. The number of milk cows averaged 610,000 head, unchanged from March 2010. Milk per cow averaged 1,810 pounds, up 55 pounds from the year-ago period. Dairy farmers in the Empire State received an average of $21.30 per hundredweight of milk sold during March, which is up $1.70 from February and $5.20 more than March 2010, according to the field office. The USDA stated that milk production in the 23 major milk-producing states during March totaled 15.8 billion pounds, up 2.4 percent from 2010. The number of milk cows on farms in the 23 major states totaled 8.42 million head — 93,000 head more than March 2010, and 17,000 head more than February 2011.
New York manufacturing index climbs to one-year high in April New York manufacturers say the pace of the industry’s expansion has accelerated this month, according to the latest Empire State Manufacturing Survey, issued by the Federal Reserve Bank of New York April 15. The survey’s general business-conditions index rose more than four points to 21.7 in April from 17.5 in March. This marked the fifth straight gain for the index and its highest reading in a year. The Empire State survey found that 35 percent of manufacturers reported that conditions improved over the month, while just 13 percent — the lowest share in more than five years — said that conditions worsened. The survey’s new-orders index climbed 17 points to 22.3, its highest level in a year. Price increases continued to accelerate in April, the New York Fed said. The survey’s prices-paid index rose for a fifth month in a row, gaining four points to 57.7, with 60 percent of respondents reporting higher prices over the month. The Empire State Manufacturing Survey is distributed on the first day of each month to the same pool of about 200 manufacturing executives in New York. Typically, about 100 surveys are returned, according to the New York Fed.
e-mail your company news to firstname.lastname@example.org
April 29, 2011
Siena survey: New York residents say Social Security needs help, divided on fix BY ERIC REINHARDT JOURNAL STAFF
bout two-thirds of New York residents in a new survey believe the federal government must make changes to the Social Security program for it to survive. That’s among the findings in a financialplanning survey that the Siena (College) Research Institute (SRI) released April 18. The same amount of respondents also believes Social Security will go bankrupt within the next 20 to 25 years, unless something is done. “That certainly has, quite clearly, permeated public sentiment,” says Donald Levy, SRI director. But the survey also found New Yorkers are divided on how Congress should handle it. The survey found just over half the respondents favor reducing benefits for those that retire with significant wealth, but 36 percent disagree with that approach. Respondents are evenly divided on three other suggestions, such as partial privatization, increasing the payroll-deduction rate, and increasing the payroll cap from $106,800 to 90 percent of taxable income. In addition, respondents oppose, 67 percent to 28 percent, raising the age at which citizens can collect Social Security benefits to 70, according to the SRI data.
The survey also found nearly 60 percent of current retirees say that Social Security is a major source of their income, ranking it above pensions (42 percent), savings (19 percent), and 401(k) accounts (8 percent). Those not yet retired list Social Security as their third major source of planned- retirement income with 401(k) accounts ranking first and savings second, according to SRI. “They [those still working] think the onus of responsibility has fallen on them because they list 401(k)s or other personal
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savings as their major source of income,” Levy says. Among respondents who have not yet retired, only 41 percent over the last six months have contributed money to their retirement fund above any contributions their employer may have made. Another 43 percent say they made no contribution and 9 percent withdrew from their retirement savings. Two-thirds of respondents said they’re at least somewhat confident that they’re going to be able to maintain their current standard of living when they do retire. “I’m not quite sure where that confidence is coming from,” Levy says. The SRI survey also asked New Yorkers about how they’re preparing for retirement. Only 45 percent have a monthly budget that they use to keep track of income and expenses. A majority does have at least $1,000 in savings but only 43 percent have saved for six months of expenses. “More than half have life insurance and 54 percent have a 401(k) but fewer than 40 percent of New Yorkers have a will, a portfolio of individual stocks, or a financial advisor,” Levy notes. The survey found 45 percent of respondents not currently retired believe their quality of life in retirement will be worse than those who have retired already. Among those respondents currently retired, 63 percent predict that people in their 30s or 40s today will have a worse retirement quality of life than they now enjoy, according to SRI. Survey respondents, both young and old, generally agree that retirement prospects are on the decline, Levy added. SRI conducted the survey of financial planning March 28-31 and April 4-7 and 10 by random telephone calls to 811 New York residents over the age of 18 (511 not retired, 300 retired). Data was statistically adjusted by age, region, and gender to ensure representativeness. SRI reports this data at a 95 percent confidence level with a margin of error of plus or minus 3.5 points for the overall sample, plus or minus 4.3 points for those not retired, and plus or minus 5.7 points for retirees. Contact Reinhardt at email@example.com
The Central New York Business Journal • 3
April 29, 2011
City schools’ grad comes home to launch video production, film company By Kevin Tampone Journal Staff
SYRACUSE — The word startup is thrown around a lot these days. Everyone from the White House to Central New York’s very own economic developers is focused on nurturing more young companies and more entrepreneurship. The companies that often get the most attention are high tech, powered by some bit of flashy research from an area college. Startups with growth potential can, of course, come from any industry, and a business based in the Syracuse Technology Garden is proving that point. Solon Quinn Studios, a video production company, began life three years ago. “My guys and I starved for the first year and a half,” company founder Solon Quinn says of his company’s early days. Quinn and his staff bootstrapped their launch. He says he didn’t want a bank loan and didn’t want to borrow cash from his parents. The company has since found its footing and done work for clients like Syracuse University, CenterState CEO, and local businesses including Cazenovia Jewelry and King + King Architects LLP. The studio has also worked on projects with Syracuse ad agencies like Eric Mower and Associates. Solon Quinn Studios is behind some of the recent TV commercials the Downtown Committee of Syracuse runs and produced the video shown at the CenterState CEO annual meeting that profiled finalists in the Creative Core Emerging Business Competition. Quinn graduated from Nottingham High
School in the Syracuse city school district before studying filmmaking at the School of Visual Arts in New York. A professor there, who worked on films like “The Godfather” and “The French Connection,” told his students they had two options after graduation. One — find a job as a production assistant and spend a few years getting coffee for people. “I thought, there’s no way I want to get coffee for people,” Quinn says. Two — if you have a good support system at home, go there and make a film. Quinn chose option two. He and his team recently finished shoot-
ing a horror film on the city’s North Side. He hopes to find a distributor and sell the movie as soon as possible. Quinn also says he plans to run a threepart business long term: filmmaking, commercial production, and music videos. While he says filmmaking is his main passion, he enjoys the process of working on commercials as well. “I’d like to have those three wings going for my whole life,” he adds. Quinn’s team includes two friends from high school and a cinematographer who previously worked for another video company in Syracuse.
“That’s the benefit of working with people who are in it for the enjoyment of the project,” he says. “You can take revenue and buy cameras and lenses and skip out on rent.” Quinn’s producer, Benjamin Schechter, who he says “can sell water to the ocean” was instrumental in getting the company in at Syracuse University (SU). Schechter, an SU graduate, is extremely persistent, says Nicci Brown, associate vice president for marketing and communications at SU. The studio has worked on projects like recruiting videos for the school. The university gets a lot of calls from companies looking for a piece of its business, Brown says. And it has to be careful with who ultimately gets that business, especially when it comes to public pieces like the videos Quinn’s studio worked on. “I think that they were really hungry to work with us,” Brown says. “We knew [Schechter] had that experience with the university. And Solon is from the area and grew up around here. That was important. We wanted to work with people that really understood what Syracuse University was all about.” Quinn says the Tech Garden is another major reason for his company’s growth. It’s the only place, he notes, his young firm could afford a 1,400-square-foot studio at this early stage. “You don’t feel like you’re kids there,” Quinn says. “You’re looked at as a business. Most businesses there couldn’t do what they’re doing without the Tech Garden.” q Contact Tampone at firstname.lastname@example.org
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• The Central New York Business Journal
April 29, 2011
IHP: “The new building takes advantage of every square inch of that site.” Continued from page 1
Officials at Upstate Medical University unveiled this rendering of the expansion project during an April 15 press conference in the atrium of the Institute for Human Performance at 505 Irving Ave.
through a state-bond offering. The university expects completion in the spring of 2013. Upstate Medical wants to house investigators from various disciplines whose studies involve disorders of the nervous system, such as behavioral disorders like attention-deficit disorder, disorders of the visual system. The research will also examine neurodegenerative diseases, such as Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease; Alzheimer’s
disease; and Parkinson’s disease. “The diseases and the problems we’ll be studying in this building are relevant to the people of Central New York,” Dr. David Smith, president and CEO of Upstate Medical University, said while speaking to reporters at an April 15 press conference. The collaborations will integrate diverse scientific approaches to advance knowledge into the cause and progression of diseases of the brain, spine, and visual system. The knowledge can then be translated to medical practice, otherwise known as
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translational research, leading to new management or curative therapies for that disease, the school said. Upstate Medical’s Institute for Human Performance will coordinate with the SUNY system’s other academic-medical centers through SUNY REACH, its research network, Smith said. Besides Upstate Medical, they include SUNY Downstate Medical Center in Brooklyn, the University at Buffalo, the SUNY College of Optometry in New York City, and Stony Brook University on the northern edge of Long Island. “This is about bringing together [the facility’s] unique skills to tackle problems collaboratively,” Dr. Smith said. New York City–based Turner Construction Company started its construction work on the expansion of the Institute for Human Performance during the week of April 11. Boston, Mass.–based Goody Clancy is the architect on the project. Upstate Medical is pursuing a Leadership in Energy and Environmental Design (LEED) silver certification for the expansion through the U.S. Green Building Council, the school said. It’s always a challenge to expand an existing building, says Roger Goldstein, a principal at Goody Clancy. He says the site is constrained, as crews are working within tight boundaries against the streets. South Crouse Avenue, Harrison Street, and Madison Street border the construction site. “The new building takes advantage of every square inch of that site,” Goldstein says. Laboratories by their nature are “technically demanding buildings,” he says. Buildings like this also have to be structurally very stable because you have research equipment that is very sensitive to vibrations, such as imaging equipment and computed-axial tomography (CAT) scanners. So expanding an existing building that has to stay in operations without disturbing the internal operation is always a challenge. Contact Reinhardt at email@example.com
Clarification Since the publication of the article on CB Richard Ellis (CBRE) real-estate transactions in the April 1 issue of The Business Journal, page 5, we received new information and need to clarify one of the transactions as follows: United Auto Supply has opened a store on Route 13 in Cortland. CBRE’s Edward C. Kiesa represented United Auto Supply in the purchase of the property, an 18,000-squarefoot former hardware store. Alex Lishak and John Clark of the Pyramid Brokerage Company, which had the exclusive listing to sell the property, represented the seller.
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The Central New York Business Journal • 5
April 29, 2011
Recent JF Real Estate transactions include Sports Helmets, Genex Services, Kishmish SYRACUSE — JF Real Estate recently announced the following series of real-estate transactions it helped arrange in Central New York. Ed Rogers of JF Real Estate represented the landlord in the lease of a 20,000-squarefoot office/warehouse building located at 6211 East Molloy Road, DeWitt. Trane U.S., the leasee, was represented by Pyramid Brokerage. Rogers also represented the owner in the sale of a 22,000-square-foot office building located at 890 Seventh North St., Salina. FRW Properties, LLC was the buyer and was represented by Dylan Bruns, also of JF Real Estate. Sports Helmets, Inc. was represented by Rogers in its lease of 71,000 square feet of office/warehouse space at 4697 Crossroads Park Drive in Clay. This is an expansion and relocation of the company’s Liverpool facility. Anderson Barney Real Estate represented the landlord. Financial details of these transactions were not disclosed. Len Brown of JF Real Estate represented the landlord in the lease arrangements for office spaces at 5786 Widewaters Parkway in DeWitt. Goldberg Segalla Law Firm leased 5,826 square feet; Great American Insurance leased 7,354 square feet; and Allegretto Ltd. leased 7,400 square feet. CBD Brokerage represented the tenant. Financial arrangements were not provided. Brown also represented the landlord in the leasing of 10,367 square feet of office space to General Dynamics IT at 5792 Widewaters Parkway, DeWitt. CB Richard Ellis represented the tenant. Salt City PT leased 3,672 square feet of office space at 5795 Widewaters Parkway, with Len Brown representing the landlord and Marty McDermott, also of JF Real Estate, representing the tenant. Additionally, Brown represented the landlord in the lease of 6,087 square feet of office space for Genex Services at 5795 Widewaters Parkway, DeWitt, with CBD Brokerage representing the tenant. MedBest Medical Management leased 15,659 square feet of office space at 251 Salina Meadows Parkway in Salina. The Bell Group represented the tenant, and Len
Brown represented the landlord. Financial terms were not disclosed. Bruns represented the landlord in the lease of 3,800 square feet of office space to Kishmish at the Hills Building located at 217 Montgomery St. in Syracuse. This was an expansion and relocation of Kishmish’s office in downtown Syracuse. Bruns also handled the lease of 2,100 square feet of space to Syracuse Laser Spa located at the Marshall’s Plaza in DeWitt. Financial arrangements were not provided. John Funiciello of JF Real Estate announced lease renewals of office space for the following entities: NYS Department of Environmental Conservation, 25,000 square feet at 615 Erie Boulevard W., Syracuse; NYS Office of Child and Family Services, 20,000 square feet at the Atrium Building, 2 Clinton Square, Syracuse; the U.S. Department of Army, 9,800 square feet at the Atrium Building, 2 Clinton Square; NYS Court of Claims, 12,000 square feet at Salina Place, 205 S. Salina St., Syracuse; and Manpower, 1,500 square feet at the Atrium Building, 2 Clinton Square. Lease terms were not disclosed. Martin McDermott of JF Real Estate represented the seller of a 4,000-square-foot retail building located at 508 Westcott St., Syracuse, to Norm Roth. Financial details were not provided. Leases renewed, with McDermott handling the transactions, included Onondaga Community Living’s renewal of its lease of 6,400 square feet of office space located at 518 James St., Syracuse, and MCI’s renewal of its lease for of 5,400 square feet of office space at the State Tower Building, 109 S. Warren St., Syracuse. Pyramid Brokerage represented the tenant. McDermott leased 3,600 square feet of office space at State Tower Building, 109 S. Warren St., Syracuse. The Bell Group represented the tenant. Financial arrangements were not disclosed. Sensis Corp. leased 14,000 square feet of office space at 5985 Tarbell Road, DeWitt. McDermott represented the landlord, and Westlake Real Estate represented the tenant.
Top left: 205 S. Salina St., Syracuse. Bottom left: 890 Seventh North St., Salina. Below: Atrium building, 2 Clinton Square, Syracuse. Right: State Tower Building, 109 S. Warren St., Syracuse.
â€˘ The Central New York Business Journal
April 29, 2011
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April 29, 2011
The Central New York Business Journal • 7
Banking & Finance SPECIAL REPORT
CCCS to merge with national outfit By Kevin Tampone Journal Staff
DeWITT — A DeWitt–based, credit-counseling nonprofit is merging with a similar group that has a nationwide reach. Consumer Credit Counseling Service of Central New York (CCCS) and Richmond, Va.–based ClearPoint Credit Counseling Solutions announced the merger April 6. The organizations expect the merger to close in July. Both groups provide services like credit counseling, debt-management plans, bankruptcy counseling, and housing counseling. CCCS will operate under the ClearPoint name once the merger closes. CCCS already has 11 offices across upstate New York, including in Utica and Binghamton, but has had its eye on even more growth, CEO MaryAnn Stark says. The group developed a new strategic plan in 2008 aimed at becoming a top 10 creditcounseling service. CCCS was already the 11th largest group in the National Foundation for Credit Counseling. Stark says the organization felt there was demand for its services in new areas of New York as well as some markets outside the state. How to meet that demand was the question. The group could have pursued new licenses in other states and invested heavily to open new branches. “At the end of the day, we believe and the board believed [merging with ClearPoint] was the better of our options,” says Stark, who will remain with ClearPoint as Northeast region president after the merger. “This was really a strategic move.
photo courtesy of cccs
MaryAnn Stark, CEO of Consumer Credit Counseling Service of Central New York, speaks at a local event. CCCS is merging with ClearPoint Credit Counseling Solutions, based in Richmond, Va. The merger was announced April 6 and is expected to close in July. It was not something we had to do. It was something we wanted to do.” The two organizations had already been collaborating for several years. CCCS, which has been fielding calls from across the country in recent years thanks to its website, often transferred clients from outside New York to ClearPoint if they needed more services than just counseling, Stark says. ClearPoint has offices in Arkansas, California, Illinois, Kentucky, Maryland, Missouri, New York, North Carolina, Oregon, Tennessee, Virginia, and
Washington. The group is licensed to provide services in all 50 states. In addition to allowing for expansion into new areas of New York and possibly Pennsylvania and New England, the merger with ClearPoint brings advantages like new technology, Stark says. The days of consumers spending time at CCCS for inperson workshops are gone, she explains. People seeking education want more online, and while CCCS has been moving in that direction, merging with ClearPoint will offer a boost in that area. “We know that’s something we can do
Payments Fraud Goes Paperless A growing cyber threat for small- to mediumsized businesses
ayments fraud is indiscriminate. It affects nearly all businesses, large or small. As our society, however, becomes paperless, moving away from checks and increasingly relying on electronic transactions, a new, virtually unseen menace arises — electronic-payments fraud. According to the most recent Association for Financial Professionals (AFP) “Payments Fraud and Control Survey,” 33 percent of the businesses surveyed experienced attempted ACH (Automated Clearing House) or wire-transfer fraud during 2010. The issue of electronic-payments fraud has gained more media attention recently,
in part because of court cases revolving around the question of liability for losses. These cases have involved losses from company accounts of upwards of a halfmillion dollars. The case perhaps receiving the greatest attention lately involves a Michigan–based manufacturer, ExperiMetal Inc., which, according to press coverage, was the victim of nearly 100 bogus outgoing wire-transfer payments over a short period that drained about $560,000 from its corporate account. (Editor’s note: According to an article on Bankinfosecurity.com, Experi-Metal (EMI) filed a lawsuit against its bank Comerica Bank, blaming it for exposing the company to phishing attacks by previously sending emails asking customers to “click on a link in the email, and then log in at the resulting website in order to renew the Comerica digital certificate.” Later, an EMI employee was duped by an imposter email
and website asking for its online-banking credentials, believing it was Comerica. In response to the lawsuit, Comerica said an EMI employee gave away the company’s account details on a website that would have been discovered as fake, “to any reasonably alert person who was responsible for safeguarding EMI’s financial records and digital credentials,” according to the story.) But while big companies with big losses have dominated the stories on the subject, it is small- to medium-sized businesses that are fast becoming the real target, say many cyber-security experts. Why are small- to medium-sized firms being targeted when they would seem to be less lucrative? Simple: They make easier targets for cyber criminals. Many of these business operators, not surprisingly, are busy running their companies, growing their business. Many have less sophisticated
better,” Stark says. CCCS employs 45 people. Most will be retained. Stark says some duplicative positions may be eliminated but none have been identified so far and any layoffs should be minimal. In fact, the group might be looking to hire as it moves ahead in new markets, she adds. For ClearPoint, the merger with CCCS is the group’s first foray into the Northeast. “We find like-minded organizations and like-minded folks,” says ClearPoint CEO and President Chris Honenberger. “That’s how we’ve grown.” Honenberger says plenty of potential for growth after the merger both inside and outside New York. Three board members from CCCS will join ClearPoint’s board, he adds. Stark says the others will serve as a kind of regional advisory committee to guide her efforts in the Northeast market. The recession has been driving more activity for nonprofits like CCCS and ClearPoint, Honenberger says. Counseling on housing-finance matters especially has been a busy arena for the organizations. After the merger, ClearPoint will have more than 225 employees. The group had total 2009 revenue of about $18 million, according to federal tax documents. CCCS generated 2009 revenue of more than $4.1 million. In addition to DeWitt, Utica and Binghamton, CCCS has offices in Albany, Auburn, Elmira, Fort Drum, Ithaca, Oneida, and Watertown. q Contact Tampone at firstname.lastname@example.org IT systems, fewer IT resources, and less security. When the AFP conducted its survey, those businesses that didn’t use fraudprevention services or applications said the benefit couldn’t be cost justified. But when does the savings on not adopting cybersecurity measures beviewpoint come an old-fashioned case of “penny wise, pound foolish?” Msnbc.com carried a story earlier in the year that reported on a Ukrainian ring that stole $70 million from U.S. bank accounts by means of cyber fraud. The report stated that the FBI said the scheme “focused on small- and medium-sized companies.” Some measures that small- to mid-sized businesses can take to safeguard themselves cost little or nothing.
d. michelle golembieski
See golembieski, page 11
banking & finance
• The Central New York Business Journal
April 29, 2011
First Niagara pursues growth in Central New York By Kevin Tampone Journal Staff
SYRACUSE — First Niagara Financial Group, Inc. (NASDAQ: FNFG) has been making headlines lately with its major expansions in Pennsylvania and New England. But the Buffalo–based banking company is still looking to grow in upstate New York. That includes the Syracuse area, says David Kavney, Central New York market executive for First Niagara. The bank announced plans for two new branches in the area since the start of the year. In January, First Niagara opened a new office at 3413 W. Genesee St. in the town of Camillus (Fairmount) and opened a location at 7950 Brewerton Road in Cicero in March. The bank now has 22 total offices in its Central New York region. “We see some continued growth potential in those areas,” Kavney says. First Niagara’s current major area of retail-banking strength in Central New York is the Auburn area. The bank has five branches, $224.8 million in deposits, and a deposit market share of nearly 25 percent in Cayuga County, according to the Federal Deposit Insurance Corp. (FDIC). Before the new branch openings, First Niagara had two offices and about $60.5 million in deposits in the Syracuse metro area, which includes Onondaga, Oswego, and Madison counties. That includes a loca-
erin Zehr/the central new york business journal
A First Niagara Bank employee assists a member with her banking. The company is still looking to grow in Central New York, opening two new branches in Onondaga County since the start of the new year. tion in DeWitt and the bank’s main regional office in downtown Syracuse. First Niagara also has five branches, $121.1 million in deposits, and a deposit market share of 3.18 percent in the Utica– Rome area, according to the FDIC. In addition to expanding its retail presence, First Niagara is growing its middlemarket lending team in the region, Kavney says. The bank is seeing increased lending activity in a variety of industries in the
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Syracuse area. First Niagara has a specialty health-care practice in Syracuse as well. That practice actually covers the company’s entire footprint, Kavney notes. Kavney joined First Niagara in July and also leads the company’s corporatebanking activities in the Central New York market. He was previously administrative vice president and group manager in M&T Bank’s middle-market lending group.
First Niagara has about 240 employees in its Central New York region. The bank has added about five people in commercial banking here in the past year and another 10 to 12 to staff the new branches. Companywide, First Niagara employs more than 4,000. In 2009, the company made two major acquisitions in the Philadelphia and Pittsburgh areas and just closed on a deal for a bank in Connecticut on April 15. First Niagara now has $30 billion in assets and 345 branches across New York, Pennsylvania, Connecticut, and Massachusetts. And while headlines have naturally focused on the company’s acquisitions, executives say they expect to keep growing throughout the bank’s footprint. “For us, it’s about growth and playing offense,” First Niagara President and CEO John Koelmel said during a conference call April 21 on the company’s first-quarter results. First Niagara earned $44.9 million in the first quarter, up from $28.9 million a year earlier. Earnings per share in the period totaled 22 cents, up from 16 cents in the first quarter of 2010. Operating earnings, which exclude items like acquisition costs, totaled $49.8 million, or 24 cents a share, up from $32.6 million, or 18 cents a share, a year earlier. q Contact Tampone at email@example.com
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April 29, 2011
The Central New York Business Journal • 9
Key continues string of profitable quarters
Symbol: KEY Recent price: 8.60 52-week high: 9.77 52-week low: 7.13 52-week change: 0.93% Exch: NYSE 6-month history
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BY KEVIN TAMPONE email@example.com. JOURNAL STAFF
fter emerging from an extended string of losses, KeyCorp (NYSE: KEY) is now shifting its focus from reducing risk to looking once again for new lending opportunities. First-quarter earnings at the Cleveland, Ohio–based banking company from continuing operations and attributable to common shareholders totaled $184 million, or 21 QUARTERLY cents a share. That REPORT compares to a loss of $98 million, or 11 cents a share, in the first quarter of 2010. The latest quarter is the fourth consecutive period in positive earnings territory for the company after a series of losses that included a $1.6 billion loss in 2009. Key’s financial improvement has been aided by major progress toward exiting a number of riskier lending activities, a process that began four years ago, company leaders said. In addition, the bank announced plans in the first quarter to repay the funds it received through the federal government’s Troubled Asset Relief Program (TARP) at the height of the financial crisis in 2008. Key issued $2.5 billion in preferred stock to the U.S. Treasury through the program.
The bank’s plan to repay the funds was approved in March. Key later announced it had also repurchased for $70 million a warrant allowing the Treasury to buy a number of common shares in the company. The government no longer has any investment in Key, according to the company. The bank is now positioned to capitalize on the economy’s ongoing recovery, said Beth Mooney, Key president and chief operating officer. Mooney will take over in May as CEO for Henry Meyer. In addition to looking for more lending opportunities, Key plans to focus on growing fee-based revenue in areas like investment banking, capital markets, and private banking, Mooney said during a conference call April 18 on the company’s first-quarter earnings. She noted that clients in the bank’s middle market group are beginning to gain confidence and explore equipment and inventory purchases. She also said that the bank has increased small-business lending and pointed out that its ranking in originating a leading type of Small Business Administration loan climbed from 15 in 2009 to 12 at the end of last year. Key expects to open 40 new branches this year, and already opened eight in the first quarter, Mooney said. That’s on top of 77 others in the past two years. In addition, Key’s corporate-banking unit hired 300 people since January 2010, she added.
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That follows job cuts of more than 2,300 companywide since 2008, part of a major cost-cutting effort that resulted in $317 million in annual savings through the first quarter of this year. KeyBank is the leading bank in the Syracuse–area deposit market with 28 branches, about $2.4 billion in deposits, and a deposit market share of 22.2 percent. The bank has two branches and about $88.8 million in deposits in the Utica–Rome area, according to the latest statistics from the Federal Deposit Insurance Corp. The bank has total assets of more than $90 billion and more than 1,000 branches in 14 states. Net interest income at Key totaled $604 million in the first quarter, down from $632 million a year earlier. Noninterest income totaled $457 million, up from $450 million in the first quarter of 2010. Average loan balances in the first quarter totaled $49.3 billion, down from $50.8 billion in the previous quarter and $57.6 billion a year earlier. Most of the decrease is related to the higher risk lending areas Key is exiting and some declines in commercial real estate, CFO Jeffrey Weeden said. The bank is seeing improvement in its commercial and industrial portfolio as well as its middle market and small-business segments, Weeden added. Key expects growth in its commercial-loan book in the second half of the year as the economy continues CNYBusinessJournal_Colour_FINAL.pdf to improve, he said. Key had more than $60.8 billion in
14 12 10 9 8 7 N10 D10 J11 F11 M11 A11 SOURCE: YAHOO FINANCE
total deposits as of March 31, up from $60.6 billion at the end of 2010 and down from $65.1 billion as of March 31 last year. Net charge offs in the period totaled $193 million, down from $522 million a year earlier. The company’s loan-loss provision in the first quarter was a credit of $40 million, compared with a charge of $413 million a year earlier. Nonperforming loans totaled $885 million at the end of the first quarter, down from more than $2 billion a year earlier. Noninterest expenses for the period totaled $701 million, down from $785 million in the first quarter of 2010. 1
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BANKING & FINANCE
• The Central New York Business Journal
April 29, 2011
M&T sees loan growth; profit grows 36 percent BY KEVIN TAMPONE JOURNAL STAFF
&T Bank Corp. (NYSE: MTB) is generating loan growth across its markets and in sectors ranging from media to transportation, the Buffalo– based banking company’s CFO said. Rene Jones spoke during a conference call April 18 discussing M&T’s first-quarter earnings with analysts, investors, and the media. The company earned $206 million, QUARTERLY REPORT or $1.59 per share, in the first quarter, up more than 36 percent from a year earlier. Loans and leases at M&T totaled more than $52.1 billion as of March 31, up from $51.99 billion at the end of 2010 and $51.4 billion a year earlier. Commercial loans and commercial real-estate loans have both grown over the past year. “Just about everybody is participating,” Jones said of the markets where M&T has been seeing the loan growth. That includes upstate New York, New York City, Pennsylvania, and the MidAtlantic. The growth crosses industry sectors as well, Jones said. Also during the conference call, Jones spoke briefly on M&T’s still-pending repayment of government funds from the Troubled Asset Relief Program (TARP). M&T received $600 million from the
Treasury. It’s in the process of acquiring another TARP recipient, Wilmington Trust Corp. of Delaware. Jones said M&T had hoped to be able to talk in detail about its repayment plans by now. “I think these things are just taking a little longer than expected,” he said. M&T announced plans to acquire Wilmington in November in a $351 million stock deal. The acquisition will bring M&T about $8.3 billion in deposits and $8.1 billion in loans. M&T Chairman and CEO Robert Wilmers talked about the deal in comments to shareholders at the bank’s annual meeting April 19. “It will allow us once again to enter a new market of a kind with which we are familiar — indeed, one which is contiguous to our existing presence in the Mid-Atlantic,” he said. “And it allows us again to enter as a significant, even leading, institution in that new market. Even that which is unusual about this acquisition to this point bodes well. “The addition of Wilmington Trust’s highly regarded wealth advisory and corporate client services division brings us assets measured both in dollars and, just as important, expertise. The latter will allow us to extend a new range of sophisticated services to M&T customers who had not previously had such access.” M&T Bank has total assets of more than $68 billion and more than 800 branches in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware, New
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Jersey, and Washington, D.C. M&T is the number two bank in the Syracuse–area deposit market with 30 branches, $2.2 billion in deposits, and a deposit market share of more than 20 percent. The bank leads the Binghamton– area market with 17 branches, more than $1.3 billion in deposits, and a deposit market share of nearly 50 percent, according to the latest statistics from the Federal Deposit Insurance Corp. (FDIC). M&T is number two in the Utica–Rome market with 13 branches, nearly $618 million in deposits, and a deposit market share of more than 16 percent, according to FDIC statistics. First-quarter net interest income at M&T totaled $575 million, up 2 percent from a year earlier. Noninterest income was $314 million, up from $258 million in the first quarter of 2010. Deposits rose 6 percent to $50.5 billion, up from $47.5 billion a year earlier. The bank’s provision for loan losses was $75 million in the period, down from $105 million in the first quarter of 2010. Net charge offs totaled $74 million, down from $95 million a year earlier. M&T’s nonaccrual loans totaled $1.21 billion as of March 31, down from $1.24 billion as of March 31, 2010. Noninterest expense was $500 million in the first quarter, up from $489 million a year earlier.
M&T weathered the financial crisis much better than some other institutions, but CEO Wilmers said at the annual meeting he’s concerned the nation at large could be headed down the same financial path as countries like Greece, Ireland, and Portugal. All three are facing serious fiscal and debt challenges “Our fiscal problems reflect not only the fact that we are spending so much — but that our engine of growth and prosperity, the ultimate source of the money on which government relies, has stalled,” Wilmers said. “Our level of private sector employment still has not returned to what it was at its peak in 2001. Unemployment and underemployment combined stand at 15.7 percent.” He said the U.S. must take its budget challenge seriously. Both political parties must work together toward a solution that is likely to include both spending restraint and increased tax revenue. “Nationally, we are failing to devote public resources to the industries of the future,” Wilmers added. “Our investment in research and development, which reached 30 percent of total federal spending during the 1960s, has plummeted to just 15 percent today. It will require sustained and effective investment in both education and research to reduce our deficit and debt and put us back on a path toward a healthy economy, the only way we can truly cure our fiscal ills.”
Wilmers comments on U.S. fiscal, economic challenges
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banking & finance
April 29, 2011
The Central New York Business Journal • 11
Empower plans Fairmount branch, closes merger with Providers By kevin Tampone Journal Staff
CAMILLUS — Empower Federal Credit Union is planning a new branch in the Fairmount area. The office, which is expected to open in 2012, is located at 3700 W. Genesee St. in the eastern part of the town of Camillus. The credit union already has a branch on Kasson Road in Camillus (two miles west of the planned new office) and saw similar demand from members for a location in Fairmount, says Mary Wilson, vice president of communications Empower is currently planning renovations for the 5,600-square-foot space, which is the former location of the Whelan Brothers & Hulchanski Funeral Home. The credit union bought the building, located on 1.2 acres of land, on Dec. 22, 2010, from
Michael J. Sills for $1,075,000, according to Onondaga County’s online property records. Syracuse–based Empower currently has $900 million in assets and serves members in Onondaga, Oswego, Erie, Broome, Montgomery, Oneida, Chemung, and Westchester counties. Empower announced a merger in November with Geddes–based Providers Federal Credit Union. The move added 2,000 members, bringing Empower’s total to more than 97,000. Providers had $10 million in assets and a branch on State Fair Boulevard in Geddes. Empower now has 19 locations. “It’s working out well,” Wilson says of the merger. “Our members are happy.” The merger was effective Jan. 1.
“This relationship will provide more services for Providers’ members and another location for all our members,” Jim Reynolds, senior vice president of operations at Empower, said in a news release. “Best of all for Providers members, it will give them expanded loan offerings.” The merger was a natural fit because both credit unions serve members in the same community, Reynolds added. Empower had total loans at the end of 2010 of about $670.7 million, up from about $604 million at the end of 2009. The credit union has not yet filed its financial statements for the first quarter of 2011 with the National Credit Union Administration. Deposits at the end of 2010 totaled $831.8 million, up from $740.5 million at the end of the previous year. Net income
was $5.9 million, up from about $5 million in 2009. Empower Federal Credit Union formed in 2007, the result of a merger of Empire Federal Credit Union and Power Federal Credit Union. At the time, they were the two largest credit unions in the Central New York Chapter of the Credit Union Association of New York. The two original credit unions, Power and Empire, were established in 1939 and 1950, respectively. Empire was first formed as the Syracuse District Telephone Employees Federal Credit Union by employees of the Syracuse office of the New York Telephone Company. Power was started by nine employees of CNY Power Corp./Niagara Mohawk. q Contact Tampone at email@example.com
GOLEMBIESKI: With wires, businesses can help limit their exposure by instituting dual controls Continued from page 7
Tighten up on login credentials for online account access. They should be handled on a “need-to-know” basis and carefully protected from those who don’t need to know. Watch out for phishing scams, false emails that solicit information such as your login credentials. Some corporate account takeovers occur because someone has innocently and foolishly given out account credentials. All account access and electronic transactions should be done on a dedicated computer that isn’t used for email or browsing the Internet. That will reduce the risk of infectious malware that could rob you of sensitive data. Businesses should check accounts daily. Speed can be of the essence in stopping a fraudulent electronic payment. An ACH payment can be returned if caught in time, but too many small businesses check weekly or less frequently, by which time it’s too late. And, your bank’s FDIC insurance doesn’t cover fraudulent losses any more than it covers fraudulent check payments. With wires, businesses can help limit their exposure by instituting dual controls.
The vulnerability here is with online wires. Call-back limits can be established with dollar thresholds. If an outgoing wire exceeds the threshold, it triggers a call from the company’s bank when it receives the wire to confirm its validity. Security tokens can be used in conjunction with such verification for a further layer of security. The business can set such thresholds in conjunction with its bank relationship manager. It’s also critical that the relationship manager knows the company’s behavior with wire transfers; in other words, its normal pattern of wires. If there is a sudden flurry of outbound wires, it would be warranted for the relationship manager to contact the company to validate the activity. It’s also possible for the bank to set up an emailnotification system for every outgoing wire transfer so that key people at the originating company are aware of it. The best course of action in limiting fraud exposure with electronic payments is to talk to your bank. A service called ACH Positive Pay filters out unusual ACH activity and ensures you are notified. The business then decides whether the payment should be made or returned, and you have avoided a potentially costly loss. The ACH Blocks service controls all
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the criteria are denied. With ACH Notifications, the company receives an alert when certain ACH transactions hit the account, again based on preestablished criteria, enabling the business to react if warranted. For banks and for their small- and medium-sized business customers, vigilance is critical. Today’s cyber threats will be superseded by more insidious viral threats and fraudulent-payment schemes. Risk assessments will be critical as will the use of multifactor authentication and layered security controls. Consigned to the IT and risk-management areas in many businesses, these subjects require greater knowledge and understanding by all business managers and owners to reduce the risk and lessen the potential cost of electronicpayment fraud. Failure to do so would be a costly mistake for any business, large or small. q
ACH transactions. It’s a complete block of all ACH transactions. With ACH Filters, the company establishes criteria for permitting ACH payments. ACH transactions that do not meet
D. Michelle Golembieski is the vice president of treasury management at Alliance Bank, N.A. She previously authored the article, “Foiling Cyber Takeovers and Fraudulent Payments,” which appeared in the Jan. 28 issue of The Central New York Business Journal.
• The Central New York Business Journal
April 29, 2011
Jumpstarting Sagging Sales and Salespeople T
his article is intended for business owners that currently have sales people, but are frustrated with the poor results those salespeople have been getting. The salespeople always seem busy, but their results are disappointing. Whenever you confront them on their lack of new sales, they do a wonderful job of “selling you” on the fact that they have some great stuff on the fence that’s about to land. So you wait some more and they stay busy looking like they’re really busy. A few months go by, and then you confront them again. What do denney’s they say? The same blueprint exact thing they said for business last time and the cycle continues. Sound familiar? Maybe you’ve been a salesperson before, but that was a long time ago. Or, you’ve never been a salesperson yourself and aren’t confident in your ability to manage salespeople. You think you have a great salesperson, but something doesn’t feel right. How can this salesperson appear to work so hard but achieve such poor results? Let’s explore that question. Being a salesperson is a very difficult job — especially when you do it right. Think about it. Salespeople don’t have the luxury of coming in to a structured day of work unless they structure it themselves. Salespeople don’t have work waiting for them; they have to create the work themselves. Salespeople face rejection on a daily basis. Have you ever noticed that great salespeople like to work with other people? Well, the truth is, salespeople spend an enormous amount of time alone. To be great at sales, you have to be incredibly disciplined. There is nobody following you around all day to make sure you’re doing what you should be doing. You have to be organized, passionate, smart, well spoken, mentally tough, and you must be committed to growing revenue. But even all that is not enough to be great at sales. First, you have to have a sales system. Think of all the other areas of your business that have systems. Now imagine if no systems existed. People were just told to “start producing.” How effective would they be? The obvious answer is that they wouldn’t be nearly as effective. Systems are critical. What is a sales system? It is an outline of the all the necessary steps that need to be taken in order to move someone from being a prospect to becoming a customer. Each one of these steps has a purpose and a specific objective (goal). For example, the first step in your sales system could be the “cold call.” The purpose of the cold call may be to find out if the prospect company has a need for your product or service. This is called “qualifying” the prospect. If the prospect doesn’t have a need for what you’re selling, then your salesperson needs to know that right away so no additional time is wasted in trying to sell to someone that will never buy from you. If on the cold call, your salesperson finds
out that indeed, the prospect does have a need for your product or service (and are already getting it from a competitor), then he/she must find out the name and title of the person at the prospect company who makes the final decision in purchasing your specific product or service. So, the cold call’s purpose is to (1) qualify the prospect company, and (2) if qualified as a prospect (potential buyer), find out the name and title of the decision-maker. OK, great. Now what? Well, the second step in the sales system could be the “warm call.” This is when your salesperson makes initial contact with the decision-maker. The purpose of this call could be to (1) re-qualify and make sure the person you’re talking to truly is the final decision-maker. Once you qualify that the company does have a need for your product/service and you really are talking to the final decision-maker, the next objective of the warm call could be to (2) gather important information from the decision-maker such as how much of your competitors’ products or services he’s currently buying (how big a prospect are they?), and (3) to determine some areas of “pain” the prospect may have with his/her current vendor, (4) give the prospect a powerful benefit you may be able to provide him/her, and (5) get permission from the decision-maker allowing you to get some information to that person and call back in a week or so. The objective of this step, then, is to “get permission to take info and call back.” The next step in your sales system could be the “hot call.” Objective (goal) of hot call: to schedule a face-to-face appointment with the decision-maker. The next step after that might be: “The Appointment.” The objective of the appointment may be to get a signed contract. Or it may be to get a commitment from the prospect to give you a try the next time he/ she needs your products/services. Or it may be to schedule another appointment to give a full-blown product presentation and cost analysis. The particular steps in your sales system depend on your industry or your particular company and need to be tailored as such. No matter, it is imperative your salespeople have a system to follow. So the first step in answering the question, “How can my salespeople appear to work so hard but produce such poor results?” should be, to make sure a system exists and that your salespeople are trained and know how to execute it. But that alone is not enough. Once the system is in place and your sales-team members are trained, they need activity goals. Remember, the ultimate goal is to “make sales” and “increase revenue,” thereby, increasing profits. But there’s something called a “sales cycle” that needs to be considered. The sales cycle is the average amount of time it takes to move someone from being a prospect to becoming a paying customer. If you’re selling office supplies, for example, the sales cycle may be very fast. Since many of your prospects order office supplies every week, you have an opportunity each week to get them as a client. But other industries have much slower sales cycles. For example, if you sell jet engines to aircraft manufacturers, they may contract to buy this product only once every
Today, there are many powerful computerfive years. If that’s the case, then you’ll have to wait up to five years just to have a chance based, contact-management systems on the to make a sale, even after they’ve committed market (also referred to as contact-databasemanagement systems). If your salespeople that they’re interested in buying from you. Obviously you can’t just sit around for five don’t have this tool, they’re getting eaten up years waiting for a deal. You have to con- by your competitors’ salespeople that do use tinue to “hunt” to find other opportunities. an electronic system. A contact-database-management system Even if you sell office supplies, you can’t wait around hoping that the prospect will buy is computer software that acts as an electronfrom you next week. No matter how long ic Rolodex, but with many powerful features. For example, each or how short the sales prospect is assigned an cycle, salespeople have ID Status by your salesto fill the “sales funnel” constantly. In other “To keep them motivat- people. By providing an “ID Status” for each words, salespeople need to keep finding ed and focused on im- prospect in the system, salespeople can prospects and continuportant sales activities, your look up contacts acally moving those prospect accounts through create a point system cording to where they stand in the sales cycle. the sales system you’ve for them.” For example, if your created. salesperson wants to In case you haven’t make cold calls, he noticed, most salespeople tend to be competitive. They like re- can find the group of people he’s looking sults and they like to achieve them quickly. to cold call simply by clicking the lookup Without tangible results (i.e., new custom- button and then entering, “Cold Call.” The ers) from their activity, they can become system will show all of the prospects who need to be cold called and who are in the frustrated. To keep them motivated and focused database. Each step in your sales system is on important sales activities, create a point mirrored in the ID Status lookup feature of system for them. This point system is where your software. This keeps your salespeople you award points based on executing the organized, giving them a huge competitive specific steps in your sales system. The advantage. Furthermore, this software provides a more time-consuming steps earn higher points. Easier steps, such as making a cold notes tab, which allows your salespeople to see all of the notes that were entered call, earn fewer points. Of course, the most points should be after every interaction with each prospect. awarded for the ultimate victory: Earning a Nothing is left to memory. These notes are critical for salespeople in deciding what tacnew customer. Using the hypothetical sales system out- tic to employ next to move the prospect to lined earlier, your point system may look becoming a customer. There are alarm settings for prospects like this: in the database that will pop up at the date/ n Cold Call: 1 point (if objective is met) n Warm Call: 2 points (if objective is time your salesperson sets. For example, if the prospect asked your salesperson to call met) back in two weeks, the salesperson sets an n Hot Call: 5 points (if objective is met) alarm that will remind him/her to call the n Attending an appointment: 10 points n Scheduling a follow-up presentation: 5 prospect two weeks later. Salespeople spend their precious time moving people through points n Making a follow-up presentation: 10 the sales system; a contact-database-management system prevents prospects from points “falling through the cracks,” thereby wastn Follow-up phone calls: 1 point ing all the time that was invested in the n Earning a new customer: 20 points Then, pick a number of points you think prospect up to that point. In addition to helping your salespeople are the minimum allowable points in a day. For example, you may determine that your organize contacts, contact-management softsalesperson must earn a minimum of 40 ware also allows your salespeople (or sales points per day (averaged each week). Also, managers) to pull up reports instantly, which be sure to select the number of points helps track activity. With networked versions that constitute an “exceptionally great” day. of the software, or web-based versions, sales The best salespeople are more motivated to managers can pull up and monitor activities have an “exceptional day,” rather than just even if their sales team operates in different “exceed the minimum.” It’s psychological, states. Furthermore, your salespeople can I know. But that’s how salespeople think — work with the same database when in the office, at their homes, or while travelling. trust me. Some popular contact-database-manageContact management ment systems include Act, GoldMine, and Now, we’ll address a third “common mis- Salesforce.com, just to name a few. If your take” many businesses owners make — they salespeople currently don’t have a tool like don’t equip their salespeople with proper this, please make it a point to explore the contact-management systems. different options available to you. It’s well Simply put, a contact-management sys- worth the investment. tem is a tool for salespeople to use to help We’ve addressed three major reasons them manage their contacts (prospects) salespeople seem to work so hard, but are efficiently. In the old days, salespeople used producing poor results: (1) Lack of a sales paper systems including index cards, Post-It system, (2) lack of an activity point system, notes, notes on the back of business cards, scrap pieces of paper and the like. See denney, page 16
The Central New York Business Journal • 13
April 29, 2011
SKYLER: As of now, the Hotel Skyler is taking reservations through its call center Continued from page 1
Genesee St. and the Parkview Hotel at 713 E. Genesee St. Hotel Skyler conducted guest tours during the week of April 18, says Robert (Rob) Benetti, general manager of Hotel Skyler. Benetti also serves as general manager of the Genesee Grande Hotel and the Parkview Hotel. The “soft openings,” Benetti says, will culminate with “a grand opening on May 3.” The Woodbine Group is finishing the project’s construction phase and the hotel is still waiting on its certificate of occupancy from the city of Syracuse, Benetti says. Once construction is complete, Woodbine’s operations team will conduct a final clean-up of the guest rooms and the public space. The hotel, which is mainly targeting business travelers, will employ between 15 and 17 people in a mix of full- and part-time positions, Benetti says. As of now, Hotel Skyler is taking reservations through its call center, says Thomas (Tom) Fernandez, director of marketing. “We’re utilizing the reservation system that we have built in place for Hotel Skyler that mimics the one that we use for our other two properties,” Fernandez says. The call center is located at the Genesee Grande Hotel, “so the Genesee Grande will kind of act as our reservation center,”
he says. Hotel Skyler also plans to launch its own website, which will include a booking engine, he adds. Hotel Skyler will offer reservation rates that are comparable to current market rates in the area, Fernandez says. The total cost of the Hotel Skyler project is about $6.5 million. The Woodbine Group is using its own equity to pay for 25 percent of the cost, while loans from Albany–based credit union SEFCU and Oswego–based Pathfinder Bank are covering the remaining 75 percent of the cost, Fernandez says. The Woodbine Group declined to disclose the amounts of the loans. Edwin Harrington Architects, PC of Syracuse served as the architect on the project. Swanson’s daughter, Charity Swanson Buchika, the owner of Elan Interiors of Syracuse, designed the hotel’s interior. When asked about a projection for the hotel’s annual revenue, Benetti says it is “too soon to tell.”
Planning for construction, LEED
The Woodbine Group originally targeted a June 2010 opening, but the firm “had much more planning to do than we anticipated,” Benetti says. The company originally sought a gold certification for the facility with the LEED (Leadership in Energy and Environmental Design) program through the U.S. Green Building Council.
However, as the construction and design team examined the LEED point system, Woodbine decided instead to pursue a higher platinum LEED certification, figuring it could meet the requirements. “We were almost to [the] platinum threshold, which is 52 points in the LEED system,” says Lynee Sauer, business manager at the Woodbine Group. In the LEED system, certifications are determined on a point range, Sauer says, including 39 to 51 points for gold, and 52 to 69 points for the platinum certification. The decision added more time to the planning process, Benetti says. In the months leading up to the September 2010 construction start, the Woodbine Group essentially “gutted” the entire building, Benetti says. Construction crews targeted the structure’s three-story open atrium and “then created a box within a box,” he says. In the open atrium area, crews added two structural steel levels above the ground floor, Fernandez says. “It was built inside the shell of the temple,” he adds.
Pursuing LEED certification
To meet some of the requirements for the LEED platinum certification, Hotel Skyler is incorporating a geothermal heatpump system to provide its heating and cooling, along with a keycard energy-management system for lighting-control mechanisms in each of the guest rooms.
During construction, Woodbine used several materials with recycled content, including wall coverings, the carpeting, and the tiles. Woodbine also used ecobead insulation on the interior, Sauer says. Ecobead insulation is a combination of high-performance insulated beads locked into a tightly packed honeycomb matrix with a water-based adhesive, according to the website for ecobead, which is manufactured in Ireland. The insulation will also provide noise buffering, Sauer says. All of the site’s water fixtures are “low flow,” and Woodbine estimates annual savings of 200,000 gallons per year compared to standard federal flow requirements, Sauer says. In addition, Hotel Skyler will use a green-housekeeping plan in which “all of our cleaning products are green-seal certified,” she says. If the hotel receives the LEED platinum certification, it would be just the third such hotel project in the U.S. and the fifth in the world, Sauer says. Bardessono, a hotel in Yountville, Calif., and Proximity Hotel, located in Greensboro, N.C., are the U.S. properties that are certified LEED platinum, she adds. The other hotels are in Sweden and India. Contact Reinhardt at firstname.lastname@example.org
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Topic: Making Remarkable Products and Spreading Powerful Ideas
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$50 general admission • $85 preferred seating/reception.
www.fes-cny.org • email@example.com
• The Central New York Business Journal
April 29, 2011
A Better Way to Plan Business Continuation & Exit Planning When planning for a year, plant corn. When planning for a decade, plant trees. When planning for life, train and educate people. — Chinese Proverb Good fortune is what happens when opportunity meets with planning. — Thomas Edison Good plans shape good decisions. — Anonymous
ith an increasing number of owners of small- and family owned businesses reaching retirement age, business continuation and exit planning are critical issues for owners, employees, customers, and communities. We personally know of at least 400 good paying, stable jobs at risk in local businesses if the owners should retire, die, or become disabled. All of these owners are in their mid-60s and not one has a concrete business continuation and exit plan. In the old model for exit planning, a business owner would contract with closely held a broker, get the books in order, and business sit back to wait for purchase offers. The resulting sale would often result in disruption to the business, and possibly failure. In our experience, many business sales do not succeed due to poor planning and execution in the human-relationship issues. And we make no bones about it: the most important aspects of business continuity lie in the leadership of the person who will take over the company and the high-quality employees who will stay with the company under new leadership. We’re starting to see a new and encouraging trend. We have been approached over the past several years by a number of people who want to network into a business acquisition, and most want a one- to three-year transition period of mentorship under the current owner. These buyers are successful businesspeople who understand that success is dependent on
tom walsh & bruce grieshaBer
succession. They want to glean as much knowledge as possible from the owner and build on the loyalty he/she has generated among employees, customers, and the community. It’s time for a new model of business continuation and exit planning. This new approach not only eases the transition, but also helps protect the future of the business and its employees as well as safeguarding the owner’s retirement and legacy.
Step One: Build an advisory team
“In our experience, many business sales do not succeed due to poor planning and execution in the human-relationship issues.” Walsh
The owner builds a strong advisory team comprised of the following: • business consultant with behavioral background to assist with talent assessments and goodness of fit with all parties as well as an understanding of the culture of the company and deep experience in transitions in business. • proactive CPA who thinks strategically • financial consultant • solid proactive business attorney Not all of these advisers are active at the same time, but all have a role to play in guiding the owner through all phases of the planning and implementation process.
and evaluates financial systems to identify areas in need of enhancement. Once everything is in order, the owner obtains a value estimate for the business. Another critical step at this stage is to create “stay incentive” plans for key managers and executives. When owners think of retiring (and often even before they think of it), employees are thinking about their own future and are vulnerable to being acquired by other firms. The business consultant, who is usually the leading trusted adviser of the owner, assists with the ongoing transitional issues of succession, keeping everyone engaged, and focused.
Step Two: Quantify owner’s goals and resources
Step Four: Identify transfer options and financial implications
The financial consultant and CPA team help the owner determine the amount of money he/she needs to retire and retain his/her accustomed lifestyle, then compares that number to his/her current available liquid assets and calculates the difference. Plans to bridge the gap must be juggled against the value of the business. All too often, business owners believe their business is worth much more than it actually is. The advisory team also works with the owner to define his/her vision for the future of the company beyond his/her tenure, as well as his/her future beyond the running of the company.
Step Three: Build value drivers
With the help of the business consultant, the owner invests the necessary time to top-grade the management team and internal systems to ensure that the business is ready to move on under new leadership. The CPA analyzes cash flow
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With the help of the business consultant, the owner networks to find high-quality prospective buyers. The adviser meets with each prospect, executes a non-disclosure agreement, and arranges facilitated meetings with the owner. During a series of meetings in both business and social settings, the owner has a chance to get to know each prospective buyer and get an initial “gut” feeling about the suitability of the match. This step is critical because the retiring owner will stay on to teach the business to the new owner over a period of one or more years. The two must be able to work well together and have similar visions for the future of the business. After meeting with all prospective buyers, the owner and advisory team select the best candidate and move forward with the attorney and/or the CPA in charge of the purchase negotiation process.
Step Five: Personal wealth management and estate planning
The advisory team helps the owner build a strong financial plan to manage the wealth from the sale, as well as an estate plan that integrates family legacy and social capital.
Step Six: Risk management
The owner and the advisory team reduce risks for the future of the business by ensuring that proper life, long-term care, and property/casualty/liability insurance policies are in place. They also draft and implement business-continuation agreements, strengthen key-performance indicators, and implement leadership-growth strategies for key managers as well as continue to execute an aligned and focused strategic business plan. The result of this new model for business continuation and exit planning is a smooth transition, similar to what you would expect for a well-planned inside sale, but with a third-party buyer. This new model creates open communications and good will, gives employees a sense of comfort about the transition, and allows the owner to remain flexible while ensuring the future of the company he has built with his blood, sweat, and tears. We think this paradigm shift is the right direction for many business transitions. Thomas Walsh, Ph.D. is president of Grenell Consulting Group, a regional firm specializing in maximizing the performance of organizations and their key contributors. Email Walsh at firstname.lastname@example.org Bruce Grieshaber is a senior consultant with Grenell Consulting Group. He focuses exclusively on helping business owners exit their business. Email Grieshaber at Bruce@ grenell.com
The Central New York Business Journal • 15
April 29, 2011
TOP RANKS: LARGEST SYRACUSE-AREA OFFICE PARKS Ranked by Total Rentable Sq. Ft. Built
Name Address Phone/Fax Website
Total Rentable Sq. Ft. Built — % Leased 650,000 — 87%
Widewaters Office Park 5784-95 Widewaters Parkway DeWitt, NY 13214 (315) 472-2020/472-8774 www.jfrealestate.com
Pioneer Business Park 5000-5015 Campuswood Drive East Syracuse, NY 13057 (315) 295-1900/295-1901 www.cbdcos.com
350,000 — 98%
Salina Meadows Office Park Salina Meadows Parkway & Plainfield Road Syracuse, NY 13212 (315) 451-0940/451-8157 www.jlynchco.com
308,360 — 94%
Sanders Creek Corporate Center New Venture Gear Drive & Rt. 298 East Syracuse, NY 13057 (315) 471-4420/471-6659
Brittonfield Medical Center 5000 Brittonfield Parkway East Syracuse, NY 13057 (315) 295-1900/295-1901 www.cbdcos.com www.jfrealestate.com
220,000 — NA
186,000 — 88%
Collamer Crossings Office Park Route 298 at Rte. 481 East Syracuse, NY 13057 (315) 663-2110/663-2119 www.corcompanies.com
150,000 — 100%
Greenfield Corporate Office Center 225 Greenfield Parkway Liverpool, NY 13088 (315) 471-4420/471-6659
141,000 — NA
Rodax Commercial Park 6075 East Molloy Road Syracuse, NY 13211 (315) 437-2851/437-7443 First Republic Office Park 443-445 Electronics Parkway Liverpool, NY 13088 (315) 445-1030/445-2074 www.pyramidbrokerage.com
100,800 — NA
Interstate Place I & II 100-125 Elwood Davis Road North Syracuse, NY 13212 (315) 663-2110/663-2119 www.corcompanies.com
65,000 — NA
Seven Pines Office Park 8116 Cazenovia Road Manlius, NY 13104 (315) 682-0301
25,000 — 100%
90,656 — 90%
Rental Agency — Contact/Phone/Fax/Email JF Real Estate 2 Clinton Square Syracuse, NY 13202 (315) 472-2020 www.jfrealestate.com — Len M. Brown (315) 472-2020 ext. 115 email@example.com (315) 380-1161 CBD Brokerage, LLC Onondaga Tower 125 E. Jefferson St. Syracuse, NY 13202 (315) 295-1900 www.cbdcos.com — Charles Sangster (315) 295-1900 firstname.lastname@example.org The John Lynch Co., Inc. 301 Plainfield Road Syracuse, NY 13212 (315) 451-0940 www.jlynchco.com — Michael J. Dillon (315) 451-0940 email@example.com Alan J. Rainbow firstname.lastname@example.org The Edgewater Company 225 Greenfield Parkway Suite 102 Liverpool, NY 13088 (315) 471-4420 — Thomas R. Kennedy (315) 471-4420 ext. 123 email@example.com CBD Brokerage, LLC Onondaga Tower 125 E. Jefferson St. Syracuse, NY 13202 315 295-1900 www.cbdcos.com — Charles Sangster (315) 295-1900/ 295-1901 firstname.lastname@example.org
Quoted Rent Range ($/Sq. Ft.) $14.00-$19.00
Common Area Factor 14%
Year Built — Year Renovated 1980s-1990s — 2000s
No. of Buildings/ Floors 10 buildings, 1,2,& 3 floors
1988-1991 — on-going
8 buildings, 1-3 floors
2,200 — 30,000
1986-1988 — 2003-2007
5 buildings, 4 w/ 2 floors & 1 w/ 3 floors
up to 5,000 — 22,000 to 32,000
2000 — NA
build-to-suit — 40,000
2005 & 2011 — NA
3 buildings, 2 floors
100,000 — NA
1988 and 2008 — 2008
1 building, 2 floors; 2 buildings, 1 floor
38,000 — 38,000
1985 — NA
8 buildings, 1 floor
2,400 — NA
park-like setting, minutes from NYS Thruway, airport, hotels, & restaurants
Siemens, BOCES, Cardinal Health
1980 — 2009
2 buildings, 2 floors
6,600 — 34,349
park-like setting, adjacent to the Holiday Inn/Staybridge Suites Conference Center, state-of-the-art HVAC, Class A on-site management, easy access to all major freeways
ADP, CNA Insurance, TDO
1972-1973 — 1990 & 2000
2 buildings, 2 floors
6,500 — 20,519
located approx. 10 minutes from Syracuse central business district, Hancock International Airport, NYS Thruway & Interstate 81; ample free parking
Navisite, OCRRA, American Dairy, The Hamilton Group, Arcadian Health
1985 — 2010
4 buildings, 2 floors per building
NA — NA
beautiful park-like setting, unique to East Side
John Funiciello (315) 472-2020/ 472-8774 email@example.com COR Brokerage, Inc. 542 Towne Drive Fayetteville, NY 13066 (315) 663-2110 www.corcompanies.com — Kerry A. Mannion (315) 663-2110 firstname.lastname@example.org
Edgewater Management Company, Inc. 225 Greenfield Parkway Suite 102 Liverpool, NY 13088 (315) 471-4420 — Gary Malfitano (315) 471-4420 ext. 101 email@example.com Dean P. Vlassis (315) 437-2851 firstname.lastname@example.org Pyramid Brokerage Company 5786 Widewaters Parkway Syracuse, NY 13214 (315) 445-1030 www.pyramidbrokerage.com — William Colucci (315) 445-1030 email@example.com COR Brokerage, Inc. 542 Towne Drive Fayetteville, NY 13066 (315) 663-2110 www.corcompanies.com — Kerry A. Mannion (315) 663-2110 firstname.lastname@example.org
Largest Block of Space Available — Floor Size (Sq. Ft.) 20,000 — 40,000
— Phil Reagan (315) 682-0301 email@example.com
Note: Information provided by representatives of listed organizations and their websites. Other properties may have been eligible for this list but did not respond to requests for information.
1990 2 buildings, 1 — w/ 1 floor & 1 currently under w/ 3 floors renovation
22,000 — 40,000
Characteristics of Park conveniently located at 690 & 481; onsite fitness center (Gold’s Gym), close to Erie Blvd. and Shoppingtown Mall
Major Tenants Kemper Insurance, Community Bank, Auto One, RBC Capital Markets, Wells Fargo Financial Advisors, New York Life, Prudential, PMA Insurance, Columbian Insurance, Fust Charles Chambers, LLC
Hilton Garden Inn on-site, park setting, immediate access to NYS Thruway
Advanced Newhouse Cable, Firley, Moran, Freer & Eassa, GHI, United Healthcare, Ferrara Fiorenza Law, Liberty Mutual, Homestead Financial CBD Companies
full-service deli, fitness center, common National Grange Insurance, Haylor, conference room, abundant parking, bus Freyer & Coon, Acadia Insurance, line National Safety Council, Lowes, Walgreens, Robson-Woese
NYS Thruway access, on-site hotel, master plan in place
Aspen Dental Corporate HQ, Bank of NY, Verizon, Cresthill Suites, DeWitt multi-purpose building
direct exposure to and immediately off CNY Internists, MMRI, Ear Nose and Rt. 481, park setting, easy access to Throat Specialist, CNY Medical & downtown, and eastern and northern Surgical Eyecare, CNY Woman's suburbs, extensive shared common Healthcare, Coffee Grounds Cafe features, fitness center on site
located approx. 10 minutes from Syracuse central business district, Hancock International Airport, NYS Thruway & Interstate 81; ample free parking
Sensis Corp., Northwestern Mutual Life Insurance
park-like setting, close to Destiny, hotels, Brookfield Power, Specialty Surgery and restaurants Center, ITT Technical Institute, Paychex, Edgewater
RESEARCH BY JULIE SHARKEY 04/11 firstname.lastname@example.org
• The Central New York Business Journal
April 29, 2011
DENNEY: Teach them. Make sure they know your product inside and out Continued from page 12
and (3) lack of a contact-database-management system. Those are big ones, but here’s a short list of other factors to consider when diagnosing your salespeople’s specific challenges: Problem (4): Salespeople that don’t have solid selling-skills. Solution: Enroll them in a sales-training program. This requires an investment of time and money, but if you think your salespeople are otherwise committed to your company, this may be a wise investment for you to make. Problem (5): Salespeople don’t have adequate product knowledge or company knowledge. Solution: Teach them. Make sure they know your product inside and out. They should also be familiar with your competitors’ products or services. There’s nothing more frustrating than talking with a salesperson that has little industry and/or product knowledge. Your salespeople should also
know your company’s history, market position, and other competitive differentiators that will allow that person to passionately sell his/her prospects on why that person should want to do business with your company. Have your salespeople work in different departments in your company. Have them work in production, customer service, shipping, and any other departments that directly “touch” your customers. With this additional knowledge, your salespeople will be much better equipped to bring in new customers. Problem (6): Your salespeople are simply not ever going to be great salespeople. Solution: Replace them immediately. This problem is more common than people would like to admit. It’s also the most costly. Listen, some people simply aren’t cut out to be outside sales representatives. No matter how great your sales system, no matter how many tools and how much training you provide them, they’ll never be great. They don’t have the inherent skills necessary to be great at sales. At the beginning of this article, you
read about a few of those characteristics: “Disciplined, organized, passionate, smart, well-spoken, mentally tough, and committed to growing revenue.” If any of those characteristics are missing, a person could be doomed to mediocrity at best. If a couple of those personality traits are absent, you would probably being doing everyone a favor by encouraging that person to find a new profession. This article does not cover every single possible reason salespeople seem to work so hard, but generate poor results. We have touched on some big ones, but there certainly are other potential reasons. If you are still not sure what to do next, I suggest you have a private conversation with your ineffective salespeople and ask them straight out, “Why aren’t you seeing better results?” Don’t accept that “things are on the fence and about to land.” Instead, keep the conversation focused on why it’s taking them so long to close new business. The answers you get from this conversation should assist you in deciding what to do
next. Just make darn sure your salesperson and/or you don’t leave this meeting without a tangible next step. If your salespeople aren’t bringing in new business in a timely manner, something is broken. You have to take specific action to fix it because it won’t go away by itself. That’s a fact. It will take time and possibly even emotion. It won’t be easy. But you can do it. q Jon Denney is president of Jon Denney & Associates Consulting, LLC and chairman and CEO of Avalon Document Services in Syracuse. Denney recently completed advanced business coaching training with Legal Practice Coaches Alliance, a division of the Professional Business Coaches Alliance. He was awarded the Certified Legal Practice Coach designation, or CLPC. The license requires hours of intensive live training about all aspects of coaching, consulting, and training legal practice principals, partners, and associates in all areas of running a successful legal practice. Contact Denney at jon@ teamavalon.com.
COMMUNITY: Operating expenses totaled $42.6M for the quarter, down $1.6M from a year earlier Continued from page 1
Yahoo Finance. Looking forward, analysts are expecting Community Bank to earn 49 cents a share in the second quarter, up from 48 cents a year earlier. Community Bank System now has about $6.3 billion in assets and more than 170 branches across upstate New York and northeastern Pennsylvania. The company operates subsidiaries in employee benefits, insurance, broker-dealer services, and wealth management. In early April, Community Bank closed its acquisition of Wilber Corp. (NYSE AMEX: GIW) of Oneonta in a cash and stock deal worth about $102 million. Wilber Bank brought $750 million in deposits, $490 million in loans, and 22 branches in Otsego, Delaware, Schoharie, Ulster, Chenango, Onondaga, Saratoga, and Broome counties, along with a loan-production office located in Saratoga County. Community Bank is expecting some in-
crease in nonperforming loans as a result of the acquisition, President and CEO Mark Tryniski said during an April 27 conference call, discussing Community Bank’s first-quarter earnings. Some asset-quality indicators will take a hit as a result, he said. The company also expects $5 million in additional one-time acquisition costs. Most of those will be recorded during the second quarter, Tryniski said. Wilber is a great fit for Community Bank, he added. The acquisition launches the bank into a number of markets and also brings an attractive trust business, Tryniski said. Wilber had about $300 million in trust assets. The acquisition is the largest in Community Bank’s history.
Net interest income at Community Bank totaled $45.5 million in the first quarter, up 5.2 percent from a year earlier. Noninterest income was down 4 percent to $20.8 million. The decrease was the result of a decline
in mortgage banking revenues and lower customer use of some fee-based deposit services, according to the bank. Operating expenses totaled $42.6 million for the quarter, down $1.6 million from a year earlier. Community Bank had about $3 billion in total loans at the end of the quarter, down from about $3.03 billion at the end of 2010 and $3.06 billion at the end of the first quarter last year. The company has typically seen a dip in loans in the first quarter of the last six or seven years. Community Bank has also been selling its new, low-rate originations in consumer real estate into the secondary market. Overall demand for loans is still weak, Tryniski said. “I would continue to characterize credit demand as soft with glimmers of improvement,” he said. He added that the bank would not sacrifice credit quality simply to achieve more loan growth.
Community Bank CFO Scott Kingsley noted that the bank’s business lending portfolio declined during the first quarter, along with consumer real-estate activity. Community’s auto-lending business picked up slightly, however. Deposits at the end of the quarter totaled more than $4.02 billion, up from about $3.99 billion at the end of the first quarter in 2010. Net charge offs in the period totaled $1.4 million, down from $1.6 million a year earlier. Nonperforming loans totaled $17.7 million at the end of the quarter, down from $19.2 million at the end of the first quarter last year. Community Bank recorded a $1.05 million provision for loan losses in the first quarter, down from $1.9 million in the fourth quarter and $1.8 million in the first quarter of 2010. q Contact Tampone at email@example.com
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The Central New York Business Journal • 17
April 29, 2011
Business Journal C e n t r a l
N e w
Y o r k
Volume 25, No. 17- April 29, 2011 NEWS Editor-in-Chief........................Adam Rombel email@example.com Assistant Editor..............Maria J. Carbonaro firstname.lastname@example.org Staff Writers........................... Kevin Tampone (Online Editor) email@example.com ............................................................Traci DeLore firstname.lastname@example.org .........................................................Eric Reinhardt email@example.com Columnists......................................Jon Denney Bruce Grieshaber Harold Miller Tom Morgan Thomas Walsh Production Manager.......................Erin Zehr firstname.lastname@example.org Research Manager................... Julie Sharkey email@example.com SALES Sr. Account Managers....................................... Bernard B. Bregman firstname.lastname@example.org Mary LaMacchia email@example.com Marketing .......................BBB Marketing Inc. CIRCULATION Circulation Management....(315) 579-3927 Administrative Publisher..........................Norman Poltenson firstname.lastname@example.org Chief Operating Officer......Marny Nesher email@example.com Business Manager.....................Kurt Bramer firstname.lastname@example.org
The Central New York Business Journal (ISSN #1050-3005) is published every week by CNY Business Review, Inc. All contents copyrighted 2011. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher. Cover Price $2 Subscription Rate $86 per year Call (800) 836-3539
HOW TO REACH US MAIL: Send letters to: Editor, The Central New York Business Journal 269 W. Jefferson St. Syracuse, N.Y. 13202-1230 E-MAIL: email@example.com PHONE: (315) 472-3104
Easy To Be Happy About Income Taxes When You Don’t Pay Any
or your entertainment, here are some recent polling results from Gallup. They cleverly released them on the day our tax filings were due. The poll results are more than entertaining. They are laughable. Gallup polled thousands of taxpayers. It found that half of us feel the federal income taxes we pay are too high. Ok. It found that almost half of us feel the taxes we pay Washington are about right. Ok. That is a nice statistical divide. Gallup drew a few conclusions MORGAN about it. Various writAT LARGE ers did the same. They pontificated about how those who set our tax rates must have them at just about the right level. After all, we the people are about 50-50 on the question. Therefore and to wit... All these people must know that half of us do not pay federal income taxes. That’s right, half of us. We may pay them during the year. But, oh boy, we get refunds. The refunds equal all we pay in taxes. Or the refund checks are larger than what we paid, because we are a welfare state to many.
Bottom line is, there is nothing under the bottom line. Half of us pay no federal income tax. (We are not talking about Social Security taxes. The poll was about federal income taxes.) I checked to see how much money the people that Gallup polled earned. Half of them earned less than $50,000 per year. Those are mostly folks who pay virtually no federal income taxes. Let me ask a few questions that Gallup and the pundits might find embarrassing. Half of us pay no federal income tax. So how do you suppose those who pay nothing might feel about the federal tax rates? How many of them are likely to say they are about right? What do I feel about bus fares? As a senior citizen who rides for free, I figure they are just about right. I dug ever deeper in my highly scientific studies. I looked over more of the Gallup data. Turns out that those who make little, are more happy with the tax rates they face. Why, of course. They don’t pay income taxes. Those who make more, are less happy. Why, of course. They pay virtually all our income taxes. Also, those who make little, feel tax rates should be higher for those who earn more. In other words, if the country runs out of money, don’t come to us; go see the rich guys. Gallup also found that about 30 percent
of us would be happy if the feds did away with the deduction for interest on our mortgage payments. Guess what? Until recently, about 30 percent of us had no mortgage. If you don’t pay mortgage interest, you don’t get the benefit of a deduction. So, sure, why not do away with it? Stick that one in the Duh File. Gallup could have saved lots of money with this report. It could have given one guy some data on who pays taxes, along with a six-pack, and let him draw some conclusions. A small number of Americans are burdened with most of the taxes the federal income tax collects. Many politicians and a host of pundits rave on about fairness in our tax code when it is clearly unfair. The politicians preach to millions of Americans who pay no federal income tax. They reassure themselves they are on the right track with poll results like those from Gallup. You can draw your own conclusions. Whatever they are, they are likely to be more logical than those of Gallup and the pundits. From Tom ... as in Morgan. q Tom Morgan writes about financial and other subjects from his home near Oneonta, in addition to his radio shows and new TV show. For more information about him, visit his website at www.tomasinmorgan.com
Just What Are Americans “Entitled” To?
ccording to the U.S. Constitution, we are entitled to life, liberty, and the pursuit of happiness. According to our present government administration, we are entitled to a free ride from cradle to grave. When Emma Lazarus wrote these famous words: “Give me your tired, your poor, your huddled masses yearning to breathe free …”, I’ll bet she never envisioned that virtually any illegal alien who could set foot on American soil could get everything free. Recently, the state of Georgia joined 30 other states that are considering proposals that would help control illegal aliens, but a federal judge has declared this action an encroachment on federal authority, so these proposals will likely be tied up in the courts indefinitely. I believe “Obamacare” could become the largest entitlement in U.S. history. In my opinion, this budget-breaking piece of legislation was created by a manipulation of the democratic process and overrides the will of the people. The majority of us, who work and produce, do not want socialized medicine. Nowhere within this legislation is there any incentive for people to take care of their own health. If I were rewriting this massive document, there would be higher health-care insurance premiums for smokers and obese people. Of course, it wouldn’t fly because our government eschews discrimination of any kind — including obese “undocu-
mented immigrants” who smoke. All of this exemplifies President Obama’s vision and goal of creating a European-style entitlement state — an almost communistic workers’ paradise. If health-care reform is not amended, it will result in the same high taxes, high unMILLER’S employment, and slow MUSINGS growth that virtually all of Europe now enjoys. According to estimates from the Government Accountability Office (GAO), spending on entitlements and interest on our debt will soar from 11 percent of GDP this year to more than half the economy by 2065. Our government’s ability to impose its socialistic programs is made possible because America is reaching a tipping point where those on the government dole will soon outnumber the workers who pay for their benefits. Republicans won welfare reform in the mid 1990s, but America is rapidly sinking into another welfare state, which failed before, and will fail again. The leading welfare states include California, Florida, Georgia, Illinois, New Jersey, and New York. All could face bankruptcy unless they can get their government-union pensions in line. The moral price of the
looming middle-class dependence on government is even greater than the financial price. Those of us who operate businesses have another burden besides the increasing entitlements. President Obama is vehemently anti-business. In a recent address to the nation, he referred to businesspeople (barely disguising his disdain) as the “millionaires and billionaires” who must submit to increased taxes in order to revive the economy. As a result, we are skittish and afraid to expand within the atmosphere of a hostile government and the prospect of crushing taxes. Now, Standard and Poor’s warns that America stands to lose its top credit rating — mainly because the Democrats and Republicans are hopelessly deadlocked over how to reduce the deficit and longterm debt. So we get back to the rhetorical question of what are Americans entitled to? My view is we are entitled to a government that serves the people, not the other way around. We are entitled to legislators that serve their constituents, not their own career. And most of all, we are entitled to a government that will put a stop to the reckless spending that is bankrupting this great nation. q Harold Miller is a local business leader, Auburn native, and author of the upcoming book: “Memoirs of an Entrepreneur.” Contact him at HMillermod@aol.com
• The Central New York Business Journal
EDUCATION & TRAINING Le Moyne College has hired Robert Savicki as director of financial analysis and reporting. Savicki previously served as air-traffic systems finance manager at Sensis Corp. Prior to that, he was senior Savicki financial analyst for Sensis. He holds a bachelor’s degree in accounting and a master’s degree in business administration from State University of New York at Oswego.
LAW Jessica A. Minardi has joined Hiscock & Barclay, LLP as recruitment coordinator. She previously served as a benefits associate with the Dannon Company in White Plains. Prior to that, Minardi held human-resources positions with Vion Pharmaceuticals and the University of Maryland, where she received her bachelor’s degree in marketing.
NONPROFITS LDACNY has hired Kelley Greene as adult-
April 29, 2011
PEOPLE ON THE MOVE: NEW HIRES AND PROMOTIONS
ser vices consultant. Greene works with adults with learning disabilities and related disorders in issues concerning education, employment, housing, and financial matters. The Hiscock Legal Greene Aid Society has appointed four new staff members. Lourdes P. Rosario has joined the Family Court Program as a staff attorney. Rosario received her J.D. and LLM degrees from Albany Law School and served as an intern with numerous public and private organizations, most recently, with the New York State Division of Human Rights in Albany. Joining the Civil Program as staff attorneys are: Gregor y W. Dewan, who received his J.D. degree from Emory University School of Law in Atlanta, Ga., interned for the Atlanta Volunteer Lawyers Foundation and the Barton Child Law and Policy Clinic, and was a student attorney at the Barton Juvenile Defender Clinic in Atlanta, Ga.; and Leah A. Witmer, who received her J.D. degree from the Syracuse University College of Law where she was a criminal justice teaching fellow. Anya S. Lewis has been hired as program coordinator for the Appeals Program after serving as a clerical assistant through the JobsPlus Program for the past five months.
Lewis joins the Legal Aid Society from New York City, where she worked in customer service and sales at UPS.
REAL ESTATE COMMERCIAL Larr y J. Socia recently joined Sutton Real Estate Company as retail director. He brings 21 years of experience as a New York Statelicensed commercial broker, specializing in providing retail realestate services to clients ranging from local Socia businesses to regional and multi-national corporations. Socia’s areas of expertise include tenant/buyer and owner representation, site selection, market analysis, asset disposition, marketing, and general sales and leasing brokerage. He exclusively represents many high-profile companies, and has brokered numerous real-estate transactions on their behalf in communities throughout upstate New York. Socia earned the certified leasing specialist designation through International Council of Shopping Centers and is a certified commercial investment member candidate for designation.
PEOPLE-ON-THE-MOVE NEWS GUIDELINES 1) All people-news items must be sent directly to firstname.lastname@example.org, email@example.com, or firstname.lastname@example.org or risk not having them considered for publication. 2) For this section, only new hires and promotions will be published. We do not publish awards or honors, professional examinations or designations, certifications, speaking engagements, and board assignments. We welcome other news regarding your company, which we may be able to use in other parts of the paper, but there is no guarantee that it will appear. 3) Allow at least two weeks for your news to appear in print. 4) Due to the sheer volume of requests we receive, we cannot respond to every inquiry regarding when the people news item was published, nor can we send a copy of the issue in which it appears. It is critical that you watch the paper for the item yourself, or have a colleague or friend who receives the paper do so. If a hard copy of the paper isn’t available to you, your subscription allows you to search the archives online at www.cnybj.com. 5) Items must be sent in a Word doc or a format that can be cut and pasted or otherwise manipulated; no Read Only files will be accepted. Photos should be labeled and attached in a .jpg format. 6) Due to space constraints, we are not able to use all photos. So, your people on the move item may appear without a photo even if you submitted one.
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Jennifer Cline, regional sales manager with CXtec, is a surprised recipient of the Bernard B. Bregman Lifetime Achievement Award presented to her by Bernie Bregman of The Central New York Business Journal, at the annual Crystal Ball Award Banquet at the Sheraton University Hotel & Conference Center on April 26. The award, first presented to Bernie Bregman in 1998, was presented to Joanne Rauch, executive recruiter with CR Fletcher Associates last year. The Board of Directors of the Central New York Sales & Marketing Executives (SME) unanimously selected Jennifer, a past president, for her continued dedication during her 15 years as a member. Bernie was particularly pleased to deliver the award since he worked with Jenn for seven years at The Business Journal and first encouraged her to join the organization. Later in the evening, 14 sales professionals received Sales & Marketing Excellence awards after being nominated by their individual companies. This annual tradition was launched in 1994. The highlight of the evening was the presentation of the Crystal Ball Award for marketing achievements to John Stage of Dinosaur Bar-B-Que. This was the 35th year that the brainchild of Frederick “Doc” Schwartz has been carried out. Four previous Crystal Ball recipients attended this year. Now in its 76th year, the SME organization was started by Leonard P. Markert of the Edward Joy Company along with a group of marketing leaders to promote professionalism in sales and marketing. Anyone interested in learning more about the group can call (315) 876-1868 or email: info@ cnysme.org.
The Central New York Business Journal • 19
April 29, 2011
Schoeneck & King, PLLC and co-sponsored by NYS SHRM. For more information, contact Toyo Moyo at (800) 339-8897 or email email@example.com. To register online, visit www.bsk.com
ONGOING EVENTS n Every Tuesday, Gung Ho Networking Group from noon to 1:30 at Ruby Tuesday Restaurant, 3220 Erie Blvd E., DeWitt. The cost is $10 which includes lunch. Contact Paul Ellis at (315) 677-0015 or visit www. GungHoReferrals.com
n 13th Annual Small Business Excellence Awards from 11:30 a.m. to 1:30 p.m. at the DoubleTree by Hilton Hotel Syracuse. For further information, contact Cathy Pokines at (315) 471-9393, ext. 241, or email her at firstname.lastname@example.org
n Informal Learning Book Discussion from 7:30 to 8:30 a.m. at Panera, 3409 Erie Blvd. E., DeWitt. The CNY ASTD Social & Informal Learning Special Interest Group will discuss part-one concepts of the book, called “Informal Learning,” by Jay Cross. For details, call (315) 546-2783 or email: email@example.com
MAY 3 n The Bare Necessities of Starting A Business, New Venture Orientation from noon to 12:50 p.m. at the South Side Innovation Center, 2610 S. Salina St., Syracuse. The Innovation Center, part of the Whitman School of Management at Syracuse University, will host this session led by Joanne Lenweaver, director of the WISE Women’s Business Center. The session will provide information on the initial steps critical to launching a successful business and achieving profitability. The class is free. For more information, contact Alicia Millington at (315) 443-8634 or email: firstname.lastname@example.org
may 5 n A Time to Build Awards Program from noon to 2 p.m. at the Holiday Inn Syracuse-Liverpool on Electronics Parkway. This is a recognition program designed to honor those construction projects and partners that reflect excellence in craft and quality. Check out www.bizeventz.com for more information. n Creating Effective and Memorable Marketing, Women TIES Oswego Luncheon from noon to 2 p.m. at Oswego Country Club, West River Road, Oswego. Sponsored by the Women’s Business Center of New York State, the featured speaker will be Jessica Sloma, VP of client services at Lighthouse Marketing, Inc. The cost is $28, and reservations are due by May 3. To register, visit www.womenties. com
may 12 n MACNY’s 98th Annual Dinner & Manufacturers Wall of Fame 11th Annual Induction, beginning at 5:30 p.m. at the Syracuse Oncenter Complex. The cost is $80 per person ($750 for a table of 10). For reservations, contact Carol Waters at email@example.com or call (315) 4744201, ext. 21. n Always Say Yes, Never Say No, Women in Business: Movement to Millions Tradeshow and Luncheon from 11 a.m. to 2 p.m. at the Lodge at Welch Allyn, Skaneateles. Hosted by the Skaneateles Area Chamber of Commerce and Women TIES, the event will feature special guest speaker Eileen Brophy, president of Brophy Services. The cost is $45 (display space, lunch, program) or $30 for lunch and program. For more information or to make reservations, visit www.womenties.com or call at (315) 471-1987. Questions can also be directed to the Skaneateles Chamber of Commerce at (315) 685-0552.
may 17 n Business Cyber Fraud: Who’s Minding Your Business? Event begins at 7:30 a.m. at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. For more information, visit www.bizeventz.com or call (315) 579-3925.
may 18 n Designing & Developing an e-learning Module program from 7:30 a.m. to noon at The Palace Theatre, 2384 James St., Syracuse. Presented by CNY ASTD, this is an interactive program, walking through the steps for designing and developing an e-learning module from start to finish. The cost for ASTD members is $40; nonmembers pay $50. Register at www.cnyastd.org, or for details, call (315) 546-2783, or email firstname.lastname@example.org
Contracting Seminar for Women Entrepreneurs from 8:30 a.m. to 2 p.m. at the Cortland Country Club, 4514 State Rte 281, Cortland. Co-sponsored by Women TIES and the Women’s Business Center of New York State, the speaker will be Roxanne Mutchler, government-contracting coordinator, NYS SBDC Procurement Assistance Center and MV SBDC at SUNYIT. The cost is $55 and reservations are due by June 2. To register, visit www.womenties. com
June 9 n Foundation Directory Online Database Refresher Workshop from 11:15 a.m. to 12:15 p.m. at the Robert P. Kinchen Central Library (meet on Level 4 in the Pass Computer Lab). This is a refresher class on how to search the Foundation Center’s premiere database. Call (315) 4351900 to pre-register. Space is limited. n Second Annual F.O.C.U.S. Wisdom Keeper Awards from 5 to 8 p.m. at the Oncenter. Awards will be presented to Dr. Nancy Cantor, chancellor and president of Syracuse University, and William Sanford, former chairman of the Onondaga County Legislature, New York State Assemblyman, and longtime coach of the Syracuse University men’s rowing team. For details, visit www.focussyracuse.org or call (315) 448-8732.
n The 2011 CCMR Symposium at the Statler Hotel (Carrier Ballroom), Cornell University, Ithaca. Presented by the Cornell Center for Materials Research (CCMR), the event will include information on biomaterials, biomimetics, crystal engineering, self-assembly, and engineered tissues. To register or to obtain further information, visit the CCMR website at www.ccmr.cornell.edu/symposium/registration
n CNY BEST Learning and Performance Awards Ceremony from 5:30 to 8:30 p.m. at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. This is CNY ASTD’s fourth annual recognition of excellence in learning and performance practices in the Central New York area. The cost is $65. Call (315) 546-2783, or email info@ cnyastd.org for details.
n The Bare Necessities of Starting A Business, New Venture Orientation from 5:30 to 7 p.m. at the South Side Innovation Center, 2610 S. Salina St., Syracuse. The Innovation Center, part of the Whitman School of Management at Syracuse University, will host this session led by Joanne Lenweaver, director of the WISE Women’s Business Center. The session will provide information on the initial steps critical to launching a successful business and achieving profitability. The class is free. For information, contact Alicia Millington at (315) 443-8634 or email: email@example.com
n Financial Executive of the Year Awards from noon to 2 p.m. at the Holiday Inn Syracuse-Liverpool. Awards are given to financial professionals in the Central New York region for outstanding performance in their roles as corporate financial stewards. Visit www.bizeventz.com for more information.
may 26 n Transportation Club of Central New York’s 92nd Annual Dinner and Vendor Show at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. For ticket information, contact Arlene Anderson at (315) 415-1449 or visit www.transportationclubcny.org
june 7 n The 4 Gs of Federal Government
June 15 n Learning the Law: Legal Tips for Women Entrepreneurs, Women TIES Syracuse Luncheon from noon to 2 p.m. at Justin’s Grill, 6400 Yorktown Circle, near Carrier Circle. The speaker will be Christa Cook, attorney at Bond, Schoeneck & King, PLLC. The cost is $29, and reservations are due by June 14. For reservations, visit www.womenties.com
June 22 n Statewide Labor and Employment Law Annual Conference — Workplace 2011 — Managing in a Changing World from 7:45 a.m. to 4:15 p.m. at the Holiday Inn Syracuse-Liverpool. Presented by Bond
n Every Tuesday, Networking @ Noon from noon to 1 p.m. at Justin’s Grill, near Carrier Circle. The growing networking group is always looking for new members. Email Bill Wood at whwood@ ft.newyorklife.com for further information. n The first Wednesday of each month, Business Innovation Days meetings from 9 a.m. to 5 p.m. at The Tech Garden, 235 Harrison St., Syracuse. This is an opportunity for entrepreneurs and small businesses to meet one-on-one with a counselor from the Small Business Development Center to obtain advice and customized assistance opportunities. Scheduled by appointment, call The Tech Garden at (315) 474-0910 or email: firstname.lastname@example.org n Every Wednesday throughout 2011, Salt City Technical will offer free consultation to entrepreneurs or inventors who would like to have their product ideas evaluated by a staff of trained engineers. For more information about Salt City Technical services and to schedule a consultation, call (315) 456-8461, or visit www. saltcitytechnical.com n Second Wednesday of each month, Salt City Technical assistance by appointment at the Tech Garden; free consultation to entrepreneurs or inventors who would like to have their product ideas evaluated by a staff of trained engineers. For details or an appointment, call (315) 474-0910 or email: email@example.com n Every Thursday, Empire Statesmen Toastmasters meet at 6:30 p.m. at Ruby Tuesday on Erie Boulevard in DeWitt. For more information, visit http://estm.freetoasthost.info or email: president@estm. freetoasthost.info n Every second and fourth Thursday of the month, The North Star Toastmasters from noon to 1 p.m. at C&S Companies, 499 Col. Eileen Collins Blvd., near Hancock Airport. For more information, contact Sandy Jurkiewicz at firstname.lastname@example.org or call (315) 470-1802. n Every Friday, Tip Club of Syracuse, at the Sheraton Syracuse University Hotel, 801 University Ave., Syracuse, 8 to 9 a.m. Call Bernie Bregman at (315) 472-3104, ext. 103 or email: email@example.com n Every Friday, The Mature Workforce Alliance from 9 to 11 a.m. at Westcott Community Center, at the corner of Westcott and Euclid streets in Syracuse. For further information, call John Cruty at (315) 569-3964 or email: firstname.lastname@example.org n Every week, Syracuse Networking Professionals. Five meetings to choose from. For details, call Kevin M. Crook at (315) 439-1803, or email KevinSNP@twcny.rr.com or visit SyracuseNetworkingProfessionals.com
To have your meetings or events in the Business Calendar, email them to email@example.com
â€˘ The Central New York Business Journal
April 29, 2011
BUSINESS CYBER FRAUD: WHOâ€™S MINDING YOUR BUSINESS? MAY 17, 2011 Doubletree Hotel, Syracuse Registration: 7:30 am Program: 8 am
Limited Seating Available
MEET OUR EXPERTS Moderator: Matt Mulcahy
Anchor and Managing Editor of NBC 3 News and the CW 6 News at 10:00
Ron Culler, Jr.
Chief Technology Officer (CTO)/Executive Vice-President, Secure Designs, Inc.
Richard C. Engel
Partner, Mackenzie Hughes LLP
Vice President, Treasury Management, Alliance Bank
Panelists: Ron Culler, Jr.
Chief Technology Officer (CTO)/Executive Vice-President, Secure Designs, Inc.
Christopher Didio, CPA, CFE Partner, Dannible & McKee, LLP
Associate Professor, Department of Electrical Engineering & Computer Science L.C. Smith College of Engineering, Syracuse University
Mark T. Park
Special Agent, Federal Bureau of Investigation Syracuse, NY
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May 5, 2011 Holiday Inn Syracuse-Liverpool
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2B • The Business Journal
A TIME TO BUILD
May 5, 2011
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only done for the developer or the owner, but also for the community as a whole, to enhance the physical landscape and draw people to the area. “Our goal is to recognize all those people for their contributions because I think we’ve got some very talented, creative people in our area,” says Poltenson. “Usually, you talk about talent or creativity, you’re thinking about the architects and designers, but someone has to actually build and put it together; it’s just not science, there’s a lot of craft involved. I think those people deserve recognition, and they don’t get it.” The event is being held on May 5 at the Holiday Inn Syracuse-Liverpool with an expected crowd of about 200 people. Poltenson explains, “We’re just happy to have an opportunity to recognize these people at the event itself, in the printed edition, and with all the publicity that’s associated with it — to tell the community, to make them aware.” S:13.5 in
he concept of this event — to recognize the skilled people it takes to build a project — has been a long time coming in our region. As Rodney Dangerfield would say, “These people just don’t get any respect.” In our area, the 16-county region covered by The Business Journal, there is no local recognition. You have to go to a state or national level before you find anything, says Norman Poltenson, publisher. We call it the construction industry just to give it a name, but it’s a huge industry with several facets. To build a project you need a developer, an architect, an engineer, and somebody to build it. But there’s a lot more. You have a whole host of subcone. Expanding your footprint. Whatever tractors who get involved to make it work, at not only shares your belief it, in an your someone to finance accountant, and g it to life.ofWe think you deserve course, the lawyers. that a very complicated money. TheThat’s power of First Niagara. process, and it doesn’t even begin to deal with the ordinances and all the red tape involved. This is a major undertaking which is not
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TERRY Visit Presents us at fnfg.com BROWN s. Moving into a bigger space. Expanding your footprint. Whatever President & CEO nancial services provider that not only shares yourEnergy belief in your of Warner Solutions erience and ability to bring it to life. We think you deserve that er to get more out of your money. The power of First Niagara.
A networking reception before the 2010 A Time to Build ceremony, above, and one of the award recipients from last year’s show, right. This year’s program is scheduled for May 5 at the Holiday Inn Syracuse-Liverpool.
SPONSOR SPOTLIGHTS FIRST NIAGARA
SAROFEEN & ARBON, PLLC
irst Niagara is proud to be a founding sponsor of A Time to Build — a special event that recognizes and honors significant achievements in building and construction throughout Central New York, the Mohawk Valley, the Finger Lakes, Greater Binghamton, and the North Country. The awards have been given across a broad range of categories — from historic preservation to health-care facilities, commercial developments to educational projects and more. This year’s finalists, honorees, and winners have set themselves apart from their peers, and deserve our recognition. They also deserve our thanks for keeping New
FIRLEY, MORAN, FREER & EASSA, PC
irley, Moran, Freer & Eassa, PC is proud to once again serve as a sponsor for this year’s “A Time to Build” event and wish to congratulate the nominees for their excellence, dedication, and commitment to the development of our local communities. Our firm, in its 31st year, continues to serve locally and throughout the United States providing audit, accounting, tax and management consulting services to businesses in various industries, including those specializing in con-
York at theVisit center of fnfg.com architectural design us at and development, and helping to preserve our rich, diverse, and historic building landscape. While we are proud to be honoring this year’s winners, we are just as pleased to be helping businesses across New York State achieve their goals. Whether striking out on their own, moving into a bigger space, or expanding their footprint, First Niagara believes that when our local businesses stay strong, our communities stay strong. First Niagara. Proud sponsor of A Time to Build.
struction, energy, engineering, and real estate. Our clients’ success is our priority and we strive to help them reach their potential by serving as much more than their accountants, but as trusted business advisors to meet their unique business goals. Our firm is a proud member of the McGladrey Alliance, which gives us access to national and international experts. Therefore, regardless of where you are in the world, Firley, Moran, Freer & Eassa, PC has the resources to serve all your business needs. To learn more about our firm, visit www.fmfecpa.com.
s a proud sponsor of this year’s A Time to Build, Sarofeen & Arbon, PLLC would like to congratulate all the finalists for their creativity, motivation, work ethic, and most importantly, their commitment to excellence, as evidenced by these extraordinary projects. Michael Sarofeen and Mark Arbon, attorneys and founders of the Syracuse law firm of Sarofeen & Arbon, PLLC, have more than 50 years of combined legal experience
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A TIME TO BUILD
May 5, 2011
The Business Journal • 3B
A TIME TO BUILD JUDGES ROBERT R. COLBERT, JR. Managing Partner Greenstate Properties Robert R. Colbert, Jr. is the managing partner in real-estate partnerships throughout upstate New York. Based in Ithaca, Greenstate Properties owns apartments, office buildings, and retail centers. Colbert is a 1971 graduate of Cornell University and is also a licensed real-estate broker in New York State.
RUSSELL A. KING Retired King + King Architects Russell A. King was born in Syracuse in 1929 and attended Syracuse Public Schools. His interest and exposure to architecture began early as he remembers going with his Grandfather Melvin, at the age of perhaps 10 or 12, one summer and helping him by holding the “dumb end” of the measuring tape while his grandfather measured a building in preparation for its renovation. These experiences and his dad’s daily stories of his experiences and issues in the design and construction of various projects around the dinner table also certainly contributed to his early interest. He graduated from the Syracuse University School of Architecture in 1952 and started his career at King + King. During the Korean War, he activated his Naval Reserve status and went on active duty. He completed his service and was released from active duty at age 27, and he returned to King + King in 1956 with wife, Jiggy (formerly Joan Silcock) and twin sons, Jim and Pete. Early in his career, King’s experience was broad and encompassed all areas of the firm’s practice. He later specialized in projects of a high-technical content including several science and engineering buildings at Syracuse University as well as a number of regional hospitals including the Robert Packer Hospital and Guthrie Clinic in Pennsylvania, Strong Memorial Hospital in Rochester, Albany Medical Center as well as Syracuse hospitals. He was also the project architect of the E.S. Bird Library at Syracuse University, a project spanning more than 15 years. Although they were never pressured, twin sons Jim and Pete King chose to follow the architectural profession, while third son, John, entered the medical profession as a family physician, and daughter, Nancy, elected nursing. King recognized the necessity of planning an orderly transition of the firm. Bob Secor was added as a partner, chief designer, and director of marketing in the 1970s, and the planned transition to the next generation of young leaders Jim and Pete King was planned over an eight-year period, completing the transition in 1993 when Russ King retired and was designated consulting partner, as was Bob Secor a few years later. Now, after more than 140 years, the firm remains in the mold of its founder,
Archimedes Russell, and the first generation King, Melvin L. King. Russ King still maintains contact with the firm, stopping in and enjoying seeing the work and people of the firm and he marvels at the changes he observes and occasionally reminisces about the “Old Days.”
EDWARD KOCHIAN Former Deputy County Executive Edward Kochian holds a master’s degree in public administration from Maxwell School of Syracuse University, and a bachelor’s degree in economics from the State University of New York at Oneonta. From 1981-2009. Kochian served as deputy county executive/chief operating officer in Onondaga County Government. He was responsible for 4,200 full-time employees with a 2009 budget of $1.1 billion. Kochian served as deputy to all three county executives in county history and also served as project director for the Onondaga County Convention Center Complex, Onondaga County Justice Center, and Alliance Bank Stadium. Among his many and varied accomplishments, Kochian visited China three times and taught Chinese government officials for Maxwell School. He has also served on a number of local boards of directors, as a member and an officer, including the Milton J. Rubenstein Museum of Science & Technology (MOST), ProLiteracy Worldwide, Literacy Coalition managing partners, Success by Six Policy Council, and Friends of the Rosamond Gifford Zoo. Kochian served as the interim executive director of the Syracuse Symphony Orchestra from January to July 2010. He has been involved with and made significant contributions to many community organizations such as the Salvation Army Advisory Board, Friends of Central Library, the Erie Canal Museum, and more.
BRENDA J. LAW Manager, Design and Documentation Syracuse University Brenda Law is a registered architect in New York State and a LEED-accredited professional with 25 years of architectural experience. She is currently the manager of design and documentation at the Syracuse University Office of Campus Planning, Design, and Construction. Functioning as campus architect, she manages an in-house design studio for facilities-planning and renovation projects and she participates in the selection of consultant firms and reviews and critiques their work. Prior to her 18 years at Syracuse University, Law worked at a variety of architecture firms with a focus on: preservation/restoration, custom residential, educational, and commercial/ health-care projects. Law is a graduate of the Syracuse University School of Architecture. She served on the board of directors for the CNY AIA chapter from 2008 - 2010.
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Chief Engineer, Retired O’Brien & Gere Since his retirement as O’Brien & Gere’s chief engineer, Bill Lester has served as a consultant to the firm. His professional career has spanned 50 years with a focus on industry, higher education, health care, and municipal markets. A certified plant engineer and a registered professional engineer in nine states, including New York, Lester’s technical expertise covers a number of engineering disciplines, including facilities engineering, electrical and mechanical engineering, control-systems integration, industrial heating and cooling, hydraulics and pumping applications, and robotics and automation. During a 50-year career at O’Brien & Gere, Lester has served in various leadership roles. As a consultant, he provides guidance for the firm’s Quality Management System (QMS). He led the firm’s development of its QMS. He also provides ongoing mentoring and quality review of projects and activities conducted by the firm, including training in several discipline areas. Previously, Lester served as vice president of O’Brien & Gere’s Facilities Engineering Division, designing and supervising detail drawing and specifications for a variety of facilities, water, wastewater, and controls projects. He also led O’Brien & Gere’s efforts in researching alternatives available to clients in the area of robotics and plant automation and is the author of several articles, papers, and reports on the benefits of real-time process control and management.
Executive Vice President The Radec Corporation Rebecca Meinking is executive vice president at The Radec Corporation, commercial / industrial electrical contractors in the Rochester area. Meinking oversees all human resources, labor relations, and strategic-alliance building for the company. Prior to her position at Radec, she served as chapter president for the Empire State Chapter of Associated Builders & Contractors, Inc. (ABC) based in East Syracuse, for 10 years. As chapter president of ABC, Rebecca spearheaded the day-to-day operations of this 650-member trade association representing commercial contractors, subcontractors, and construction-related firms across New York State. She supervised legislative, regulatory, training, and networking initiatives that the association provided for its membership to help it remain competitive in what arguably is one of the most competitive sectors of New York State’s economy. Prior to ABC, Meinking spent the bulk of her early career in the political world, serving on the staff of U.S. Senator Bill Cohen (R–Maine) and with a lobbying firm in Washington, D.C. She graduated from the University of Maine with a bachelor’s degree in international affairs/political science.
Sarofeen&&Arbon, Arbon,PLLC PLLC Sarofeen MichaelSarofeen, Sarofeen,Esq. Esq. Michael and and MarkArbon, Arbon,Esq. Esq. Mark
Proudsponsors sponsorsofofAATime TimetotoBuild BuildAwards Awards Proud Representingbusinesses businessesand andindividuals individualsininthe thefollowing followingareas: areas: Representing Generalbusiness, business,business businessformation, formation,mergers mergers&& • •General acquisitions and business transactions acquisitions and business transactions Realestate, estate,real realestate estatefinancing, financing,commercial commercialleases leases • •Real andleasing leasingand andtitle titleissues issues and Estateplanning, planning,tax, tax,trusts, trusts,wealth wealthpreservation preservation • •Estate andestate estateadministration administration and Commercialreal realestate estateand andasset assetbased basedlending lending • •Commercial Economicdevelopment developmentand andindustrial industrialdevelopment development • •Economic agency financial assistance agency financial assistance
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4B • The Business Journal
A TIME TO BUILD
May 5, 2011
CATEGORY: BEST COMMERCIAL DEVELOPMENT CLUB 44 Project Location: Carrier Dome, Syracuse Project Start Date: 2009 Project Completion Date: January 2010
Owner/Developer: Syracuse University Architect: King + King Architects LLP Engineer: Peterson Engineering; Klepper, Hahn & Hyatt PC General Contractor: Hayner Hoyt Corporation The King + King team was excited to be part of the unique Club 44 project due to its legacy of architectural involvement and partnership with Syracuse University. The challenge of this project was to transform a long, narrow space into a dynamic club-lounge experience. Club 44 is a 3,253-square-foot, upscale, members-only club/lounge inside the 49,262�seat Carrier Dome sports stadium. Patrons can visit before and after games, during halftime, or stay the whole time enjoying the action, live through the concourse curtain wall, or on flat-screen televisions from the comfort of a lounge chair. Gourmet food
and a wide selection of drinks are also available. The stadium aesthetic inspired the use of industrial materials. Concrete and steel dominate the design and are translated in a contemporary and polished approach. In addition, color-changing LED lights wash the “wave” wall creating shadows and visual texture. The lighting, along with the trademark “S” behind the bar, reinforces the mystique of the space from the main concourse. All of these elements and more — synergistically create a space that is dynamic, alluring, and the perfect accessory to activities in the stadium or an experience all its own.
CNY PHILANTHROPY CENTER
(New Central New York Community Foundation HQ) Owner/Developer: CNY Community Foundation, Inc. Architect: VIP Architectural Associates, PLLC Engineer: IPD:Engineering • General Contractor: VIP Structures, Inc. Project Location: 431 E. Fayette St., Syracuse Project Start Date: February 2010 • Project Completion Date: October 2010 Project Cost: $3.7 million The Central New York Community Foundation sought to renovate the 90-yearold former University Club Building in downtown Syracuse, using the design-build/ bridging project-delivery method. Designbuilder VIP Structures worked collaboratively with the foundation’s team to complete planning, finalize the design, and construct the project. The project was completed on
Oct. 31, 2010, on time and on budget. The renovation and restoration of the building included roof replacement, new exterior windows, brickwork, renovation of former ballroom space, and new offices on the first floor, with 9,000 square feet of existing office space to be utilized on the second floor. Upgrades were made to security, communication, lighting, electrical,
plumbing, and mechanical systems. Because the building was deemed of historical significance by the Syracuse Landmark Preservation Board, the team was faced with the additional challenge of preserving the architectural integrity of the building’s exterior and architectural elements in the interior while incorporating modern upgrades. This was a fast-track construction project which required VIP to overlap design and construction — a hallmark of design-build — to meet the owner’s occupancy deadline. The team adhered to a detailed schedule for completion of planning, finalization of design, and construction of the project. The schedule incorporated and confirmed the program manager’s intermediate and final milestone dates. Weekly progress and coordination meetings were held throughout
construction. A schedule of values that included all major cost breakdowns by discipline was provided for project management prior to beginning work. The approved schedule was utilized throughout construction.
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A TIME TO BUILD
May 5, 2011
The Business Journal • 5B
CATEGORY: BEST COMMERCIAL DEVELOPMENT (CONT.) ECR INTERNATIONAL WAREHOUSE/TESTING LAB/OFFICE Owner/Developer: ECR International • Architect: Alesia & Crewell Architects • Engineer: Kernan Engineering General Contractor: Charles A. Gaetano Construction Corp. Location: 2201 Dwyer Ave., Utica Project Start Date: August 2009 • Project Completion Date: June 2010 • Project Cost: $4.4 million In early January 2009, Charles A. Gaetano Construction Corp. was contacted by ECR to discuss a warehouse expansion. A designbuild proposal was prepared for a 20,000-square-foot Butler building addition, which was eventually increased to 30,000 square feet. In early June 2009, Gaetano was contacted again regarding a design-build proposal for a new testing lab for ECR’s boilers and air-conditioning equipment. The new lab consisted of complete renovation of a 9,000-square-foot area of the original 1920’s building in Utica. The lab itself is comprised of a 1,300-square-foot “building
within a building.” For the office renovations, Alesia and Crewell Architects of Utica was hired in late 2009 to prepare plans to accommodate the consolidation. The plans not only included renovation of three floors and a stair-tower addition to accommodate the consolidations, but also to upgrade the existing offices. The project included restoration of the historic brick and woodwork in the engineering “War Room,” 20 new offices and conference rooms, toilet rooms, and kitchen, as well as a new elevator, stairs, HVAC, and electrical work.
CATEGORY: BEST EDUCATIONAL PROJECT ($10 MILLION OR LESS)
Morrisville State University College Sheila Johnson Design Center
LYNCOURT SCHOOL ADDITIONS & RENOVATION Owner/Developer: Lyncourt Union Free School District Architect: Lake Architectural Engineers: MEP: Building Energy Solutions, Inc.; Site Civil: RZ Engineering, PLLC; Asbestos: SMSA Architectural Services; Structural: Palucci Engineering, PC General Contractor: Patrick Development Project Location: Syracuse Project Start Date: March 2009 Project Completion Date: December 2010 Project Cost: $5.5 million This project included a 16,000-squarefoot addition and renovation to the existing school facility. The addition included a 7,500-square-foot gymnasium equipped with telescoping bleachers, full-size courts, and a full-height curtain that allows the gym to be divided into two sections so that separate events can be held simultaneously. The remainder of the addition added four new classrooms, a main circulation lobby, and locker rooms off the gymnasium. The renovations included lowering ceiling heights using new acoustic ceiling and insulation to reduce heating volume and improve acoustics. In addition, lighting was replaced with high-efficiency light fixtures and automatic light-control systems, a new high-efficiency centralized HVAC system, enhanced ventilation systems, and innovative smart-board technology in all existing and new classrooms. Lastly the 1930’s circa auditorium was renovated and received new and expanded seating, a revitalized stage area, and new lighting and sound systems. Renovation work was planned so that it could be completed during school breaks and summer months with a target completion to coincide with the beginning of the 2010-2011 school year. These milestones were met along with the completion of the new classrooms which were ready in time for the students’ return from the December break.
Project Image to fill entire space
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Welliver was honored to partner with QPK Design and Elmira College for the Elmira College Meier Hall project, which has been named a finalist for the A Time To Build Awards!
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6B • The Business Journal
A TIME TO BUILD
May 5, 2011
CATEGORY: BEST EDUCATIONAL PROJECT ($10 MILLION OR LESS) (CONT.) THE SHEILA JOHNSON DESIGN CENTER AT MORRISVILLE STATE COLLEGE Owner/Developer: State University Construction Fund & Morrisville State College Architect: Perkins Eastman Engineer: M/E Engineering P.C. and Clark Engineering & Surveying P.C. • General Contractor: Hueber-Breuer Construction Co., Inc. Location: Morrisville State College campus Project Start Date: May 2009 • Project Completion Date: November 2010 • Project Cost: $9 million Since 1908, Morrisville State College has been an integral part of agricultural higher learning. As testament, a large, white barn on campus served as a local landmark for years. To keep pace with current technology, the college relocated the dairy operations to a new, modern facility. With a new focus on technology, and making a transition from an associate to a baccalaureate degree institution, Morrisville State College introduced curricula that supported the vision for a design and technology center. Thus, it converted the existing agricultural building to house programs that include majors in architecture, landscape design, mechanical and electrical engineering technology, drafting technology, and wood-products technology. The Sheila Johnson Design Center incorporates the silhouette of the old barn with modern finishes, creating a unique and stunning facility that will anchor future expansion to the campus. The Design Center was completed under the original bid-proposal price and the college was also able to occupy the facility earlier than expected. The white barn is now gone but one landmark has replaced another.
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MORRISVILLE STATE COLLEGE ATHLETIC FIELD & STADIUM/ HOSPITALITY SUITE Owner/Developer: Morrisville State College Architects: HMH Site and Sports Deign Landscape Architects LLC (field and stadium); Schopfer Architects (hospitality suite) Engineer: Clark Engineering & Surveying P.C. General Contractor: Charles A. Gaetano Construction Corp. Project Location: Morrisville Project Start Date: July 2009 Completion Date: September 2010 Project Cost: $6.35 million The construction of this project included a new 6,000-square-foot stadium building with new restroom facilities, concession area, press box, storage, third-level hospitality suite, new multi-use track, and synthetic-turf field with new MUSCO field lighting, grandstand bleacher seating with a capacity of 3,000 spectators, new electronic scoreboard, and various site modifications. Phase one of the project was the new synthetic-turf field that was installed before the winter of 2010 so that it could be utilized for the spring 2010 sports season. Simultaneously, construction of the new stadium was under way and continued through the winter months with the erection of all the structural steel and masonry exterior and interior bearing walls. In the spring and summer of 2010, the grandstand bleacher system was completed, and new glass-curtain walls, metal standing-seam roof, concrete walkways, elevator, new pedestrian plaza, and all interior finishes were finished. The facility was fully completed and turned over to the owner for the start of the fall 2010 sports football season last Aug. 23. The stadium was officially commissioned during Morrisville State College’s “Mustang Weekend” homecoming on Oct. 16, 2010.
a time to build
May 5, 2011
The Business Journal • 7B
Category: Best Educational Project (More than $10 Million) MEIER HALL Owner/Developer: Elmira College Architect: QPK Design • Engineer: John P. Stopen Engineering Partnership General Contractor: Welliver • Location: Elmira Project Start Date: May 2008 • Project Completion Date: July 2010 Project Cost: $35 million Meier Hall is a 64,000-square-foot, five-story, 140-bed dormitory designed in the collegiate, gothic architecture style. A recreation lounge, sound-proof music practice rooms, and fitness center are just some of the amenities offered to Meier Hall residents. Superior craftsmanship in the Great Hall features a carved limestone fireplace, massive stone tracery windows, unique woodwork throughout, window seats, and ornate chandeliers. The façade is
brick and limestone, featuring hand-carved limestone reliefs and sculptures throughout. The college hired QPK Design of Syracuse and Welliver of Montour Falls to provide design and constructionmanagement services, respectively. QPK Design worked with Elmira College on the design to incorporate numerous details that encompassed the college culture. Welliver also self-performed all the masonry, which amounted to more than 127,000 bricks
and 580 tons of limestone. Teamwork, safety, and minimal disruption to the surrounding campus were major factors during construction. Meier Hall is a unique building for its time and is not only a technologically sophisticated, state-of-the-art facility, but also precisely reflects the rich history of the Elmira College campus. Meier Hall is truly a 19th century masterpiece built in the 21st century.
SCHOOL OF EDUCATION WITH INTEGRATED CHILD CARE CENTER Owner/Developer: State University of New York (SUNY) at Cortland Architect: HOLT Architects, P.C. Engineer: Delta Engineers, Architects, & Land Surveyors, P.C. General Contractor: Fahs Construction Group Landscape Architect: Trowbridge and Wolf LLP • Location: SUNY Cortland campus Project Start Date: August 2007 • Project Completion Date: January 2010 Project Cost: $13.43 million A major renovation and addition to a building complex, housing the School of Education and several other college departments, created the opportunity for the School of Education to consolidate faculty offices, special centers, classrooms, and the college’s child-care center. Spaces within the existing building were reconfigured to meet the current needs of the School of Education, and the new addition created access to the reconfigured spaces
through a two-story glass atrium/lobby space. The welcoming entrance serves as a beacon for the School of Education, and the 30,600-square-foot addition sits largely in front of the existing buildings, providing a new face for the older buildings. The complex program was multifaceted and included providing an accessible route through the building for pedestrian movement from the residential side of campus to the academic
buildings; locating and orienting the child-care center to be accessible for School of Education students and faculty, while simultaneously maintaining security and a unique identity for the child-care center; and arranging the program between the existing building and new addition in a logical way for the School of Education’s
various department and special research centers. The new state-of-the-art child-care center incorporates skylights and large glazed areas into its bright, cheery environment, and is has a layout that naturally creates a protective courtyard for the children’s outdoor play areas.
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CNY Philanthropy Center Project Type: Design-Build Size: 24,140 SF Schedule: 8 Months; completed on time Overview/Scope of Work: Renovate space to meet the immediate and future needs of the Central New York Community Foundation’s growing staff and strategic plan – offices, board room, large convening space for up to 100+ people, LEED® certification and to
become the area’s hub for not-for-profit collaboration. The Advantages of Design-Build • Single Source Responsibility • Financial Control • Communication • Project Speed • Quality Control
One Webster’s Landing Syracuse, NY 13202 (315) 471-5338 | 471-5383 (Fax) www.vipstructures.com Architecture
We would like to thank all of our customers and congratuate all of the participants in Time to Build.
8B • The Business Journal
A TIME TO BUILD
May 5, 2011
CATEGORY: BEST EDUCATIONAL PROJECT
CATEGORY: BEST GREEN PROJECT
(MORE THAN $10 MILLION) (CONT.)
SUNYIT AUXILIARY SERVICES & STUDENT CENTER
KING + KING ARCHITECTS’ GREEN ROOF
Owner/Developer: SUNYIT at Utica/Rome Architect: QPK Design Engineer: Argus Engineering General Contractor: Charles A. Gaetano Construction Corp. Location: Utica Project Start Date: May 2009 Project Completion Date: December 2010 Project Cost: $12.7 million The vision for the student center was to be a main gathering place for the students featuring a dining area, multi-purpose rooms, a game room, a theater lounge, technology for wireless computing, and a 20-foot media wall within a 39,000-square-foot building. Special consideration was given to provide student tours during all stages of construction. The project basis of design was to obtain a LEED Silver certification, if desired, to be filed for final approval. Separate LEED submittals were required to comply with waste
Owner/Developer: King + King Architects LLP Architect: King + King Architects Engineer: Cannan & Alexander LLC General Contractor: Henderson-Johnson Co., Inc. Location: 358 W. Jefferson St., Syracuse Project Start Date: 2010 Project Completion Date: 2010
management, recycled content, regional materials, certified wood products, and indoor air-quality requirements during construction. More than 96 percent (2,103 tons) of all construction waste was diverted from a landfill. Also, low-emitting VOC materials were required throughout for waterproofing systems, sealants, adhesives, and final finishes. This $12.7 million project was awarded through the State University Construction Fund with a notice to proceed on April 30, 2009, and was substantially complete by Dec. 16, 2010.
What can 200 YEARS of EDUCATION and EXPERIENCE DO FOR YOU?
Installing a green roof at King + King’s sustainable headquarters was a long-time dream — brought to life last fall. Through the ingenuity of the firm’s team and an important partnership with Onondaga County — the firm’s green roof came to fruition. The green roof was made possible through a matching $100,000 Green Improvement Fund grant provided by the county under County Executive Joanie Mahoney’s leadership. The grant allowed King + King to install a green roof by funding the design, engineering, and construction for
the project. The 12,000-square-foot, sustainable roof is one of only a few specially designed and implemented green infrastructures in Central New York. The new roof insulates and cools the building, decreasing energy use. It also helps absorb stormwater, which reduces input into the city’s waste system. To build on the positive impact of the green roof throughout the community — King + King and its local partners are gearing up for the next sustainable roof planned at St. Joseph’s Hospital Health Center in Syracuse.
What can 200 YEARS of EDUCATION and EXPERIENCE DO FOR YOU?
Dale Vollmer, P.E. 37 years experience
Julian Clark, P.E. 20 years experience
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Dale Vollmer, P.E. B.S. Civil Engineering 37 years experience
Julian Clark, P.E. B.S. Civil Engineering 20 years experience
Joel Plumley, P.E. B.S. Civil Engineering 33 years experience
Steve Darcangelo, P.E. Frank Karboski, P.G. B.S. Forest Engineering B.S. Geology B.S. Civil Engineering M.Sc. Geology M.S. Civil Engineering 26 years experience MBA 28 years experience
Bill Spizuoco, P.E. B.S. Geology M.S. Civil & Environmental Engineering 26 years experience
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Baldwinsville • Rome • www.plumleyeng.com
A TIME TO BUILD
May 5, 2011
The Business Journal • 9B
CATEGORY: BEST GREEN PROJECT — NEW PROJECT (CONT.) ARTS CENTER/OLD FORGE Owner/Developer: The Arts Guild of Old Forge Architect: Saratoga Associates • Engineer: Friedman Fisher Associates, P.C. General Contractor: Charles A. Gaetano Construction Corp. Location: Old Forge Project Start Date: September 2006 • Project Completion Date: December 2010 Project Cost: $8.1 million This 27,000-square-foot project included renovation of an existing pole building into painting, sculpture, and jewelry-making studio space. The new building houses the business offices, art galleries, and an auditorium. The second floor houses meeting rooms, classrooms, and the “Kinderwood” daycare suite. The site was completely redeveloped including new utilities, paving, walks, and landscaping. The stormwater system includes retention and filtration
ponds to control the run-off and discharges into the adjacent wetland. The exposed rock face was cleaned and incorporated into the site retaining wall. The exterior of the building features metal roofing, wood siding, and natural stone veneer. The interior of the building features a two-story lobby with exposed timber post-and-beam construction. The gallery spaces are large bright rooms with hardwood flooring throughout. There is also a
performance auditorium — a multi-purpose room with retractable seating for 180 people and specially designed acoustical surfaces. The project has applied for LEED Silver certification and incorporated many “green
building” principles, including spray-foam insulation, high-efficiency light fixtures, waterless urinals, roof shingles made from recycled materials, low VOC paints, a geo-thermal heating system, and solar panels to supplement the electricity.
and an overall construction package. This shortened the construction duration by five months and did not compromise the completion date. A major goal of the project was to achieve at least a LEED Silver rating. “The Village”
received a LEED Gold instead. It is the largest project in CNY to attain such a rating in the LEED for Homes category. The ultimate success of this project lies with the good working relationship and collaborative effort among all team members involved.
“THE VILLAGE” SUNY OSWEGO TOWNHOUSES Owner/Developer: Dormitory Authority State of New York Architect: Ashley McGraw Architects, P.C. Engineers: RAM-TECH Engineers, P.C.; Pathfinder Engineers; Klepper, Hahn & Hyatt General Contractor: Hueber-Breuer Construction Co., Inc. Location: SUNY Oswego Campus Project Start Date: 2007 Project Completion Date: 2010 Project Cost: $38 million SUNY Oswego sought on-campus student housing that would provide an alternative for upper classmen who typically move off-campus. It also had to fit into the school’s overall plan as part of its campus renewal and sustainability program. The aim to enhance students’ learning and social environment while still being environmentally responsible through sustainable construction and design is captured beautifully
at “The Village.” All projects bring their own set of challenges. Budget, site, and time constraints, multipletrade coordination, and a winter on the shores of Lake Ontario tested the project team from start to finish. Due to budget constraints, redesign and value engineering were required to keep the project on track. The project start was split into two separate packages; foundations
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10B • The Business Journal
a time to build
May 5, 2011
Category: Best GREEN Project — RENOVATION CNY PHILANTHROPY CENTER
(New Central New York Community Foundation HQ) Owner/Developer: Central New York Community Foundation Architect: King + King Architects LLP Construction Management: C&S Companies General Contractor: VIP Structures, Inc. Location: 431 E. Fayette St., Syracuse Project Start Date: July 2009 • Project Completion Date: November 2010 Project Cost: $2.8 million In 2009, the Central New York Community Foundation, one of the area’s leading philanthropic organizations, wanted a new location and a new face for its headquarters. The foundation’s existing space was outdated, cramped, and in disrepair. With a commitment to staying downtown and with an eye toward preservation and
sustainability, the foundation purchased a historic downtown building, known as the University Club. It immediately began making plans to adapt the structure to serve as its new headquarters. C&S was selected to serve as the program manager for the renovation and rehabilitation of the 18,200-square-foot
building. The foundation wanted its new headquarters to be as environmentally friendly as possible, seeking LEED Silver certification. C&S focused on three main points of sustainability: recycling debris, energy efficiency, and storm-water control. Instead of sending all debris to a landfill, the majority of it was repurposed. To maximize energy consciousness, C&S used natural light, a reflective roof, and energy-efficient windows and doors. As for storm-water control, C&S installed pervious pavement, a “green” roof, and planted a rain garden. The renovation of this historic structure has demonstrated how a mindset of sustainability and conservation can successfully bring a building new life and efficiency.
HAMILTON COLLEGE, EMERSON HALL RENOVATIONS & ADDITION Owner/Developer: Trustees of Hamilton College Architect: Bruner Cott & Associates, Inc., Cambridge, Mass. Engineer: Bruner Cott & Associates, Inc., Cambridge, Mass. General Contractor: Beebe Construction Services, Inc., Utica Project Location: College Hill Road, Clinton Project Start Date: June 2009 • Project Completion Date: July 2010 Project Cost: $8 million Beebe provided general construction services for Hamilton College’s $8 million in additions and renovations to this 18th-century-style home — transforming it into Hamilton College’s new Campus Center. The building features a lounge space and sunroom/porch area; a gas-burning fireplace; a large meeting room for student assembly and other groups; a large open area and a café area
with kitchen; a new bookstore that stretches the length of the building; the bookstore has a sloped ceiling, a wall of windows, and sitting area; the lower level has textbooks, school supplies, and a sorting area for books; offices; a dark room; a large multipurpose room; geothermal wells; a large open area overlooks the bookstore; open space featuring computer terminals, couches, and tables; student activities’ staff offices;
publications offices; Hamilton’s radio station; space for clubs; and a geothermal source HVAC system. The project is a USGBC LEED Gold certification candidate (pending).
Due to the teamwork of Hamilton College (owner), Bruner Cott & Associates, Inc. (architect), Beebe Construction Services, Inc. (general contractor), and more than 30 subcontractors, the project was delivered on schedule.
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LINCOLN SUPPLY CENTER BUILDING Owner/Developer: Center of Excellence, Syracuse University, Near West Side Initiative, Inc. Architect: Brininstool + Lynch, Ltd., Chicago, Ill. Construction Management: C&S Companies General Contractor: Rich & Gardner Construction Co. Project Location: 727 E. Washington St., Syracuse Project Start Date: July 2009 Project Completion Date: July 2010 Project Cost: $4 million The Lincoln Supply Center Building on Syracuse’s Near West Side had been abandoned for many years and was in poor condition. The goal of this rehabilitation project was to attain a LEED Gold rating for the building. As the engineers on the project, C&S met many challenges, namely because of the building’s poor condition. But the team kept the ambitious LEED Gold rating in mind. All wood beams, columns, and flooring left from deconstruction were recycled and used in other building projects and the manufacture of furniture. The building was highly insulated with closed-cell spray foam and provided with high-efficiency, double-pane windows. C&S also included a geothermal water source heat-pump system to heat and cool the building with no supplementary heat source. Also, the building is now 100 percent electric with no fossil fuels used on site to heat or cool the structure. The site-work design included bioswales,
allowing the rainwater falling on the site to be captured and absorbed into the soil instead of being directed into the county’s storm sewer system. The completed project resulted in a highly energy-efficient building that still maintained the vintage look and helped contribute to the continuing revitalization of Syracuse’s Near West Side.
a time to build
May 5, 2011
The Business Journal • 11B
Category: Best Health-Care Facility CARTHAGE AREA HOSPITAL PHYSICIAN OFFICES Owner/Developer: Carthage Area Hospital Architect: Nelson Associates Architectural Engineering Engineer: Nelson Associates Architectural Engineering General Contractor: G.M. Crisalli & Associates, Inc. Location: Carthage Project Start Date: July 2009 (Phase I); May 2010 (Phase II) Project Completion Date: January 2010 (Phase I); December 2010 (Phase II) Project Cost: Phases I & II: approximately $2.4 million Planning for a medical building in Carthage began in 2008. The 6,000-square-foot structure would house physician offices with plans for a future addition that would double the building’s size. During construction, the project owner decided the future expansion needed to occur immediately because of the increase in Fort Drum’s population and an urgent need for more maternity and pediatric care. The completed building is 13,362 square feet and houses physician offices, exam rooms, nurses’
stations, spaces for OB/GYN, pediatrics, and family-practice services; a community healtheducation room; and outreach offices. The building is an Italianate Victorian style with cupolas and blends in with the historic downtown business district. Nelson Associates Architectural Engineering worked closely with the hospital and G.M. Crisalli & Associates to identify portions of the building under construction that could be finished with temporary materials to protect
it from the approaching winter. Design for the addition began immediately so that ground breaking could begin in the spring of 2010. Coordination between the architect/engineer and contractor allowed the owner to save money by not installing windows, brick, and
CHRIS J. AND MARSHIA K. WITTING SURGICAL CENTER ADDITION Owner/Developer: Crouse Hospital • Architect: Louis A. Porcaro Engineers: Sack & Associates / John P. Stopen Engineering Partnership General Contractor: The Hayner Hoyt Corporation Location: 736 Irving Ave., Syracuse Project Start Date: December 2008 • Project Completion Date: November 2010 Project Cost: $36 million The Chris J. and Marshia K. Witting Surgical Center addition was a challenging project that involved the construction of a four-story addition connected on three sides to the existing Crouse Hospital. The addition extended approximately 60 feet below existing grade at its deepest point, and was built
immediately adjacent to the existing surgery center it was designed to replace. The primary role of the addition was to create space for 14 new state-of-the-art operating rooms located on the first floor without interrupting the operations of the existing surgical area. The second floor
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other materials where the addition would be placed. Additional funding was provided by HEAL NY Grant, Restore NY Communities Grant through Empire State Development Corp., and Carthage Area Hospital. provides future space for the emergency department, while the two lower levels provide the hospital’s surgical-department locker rooms and support areas, the mechanical and electrical infrastructure for the new surgical center, and new central equipment that upgraded the hospitals chilled-water systems, emergency power, and medical gas system head-end. Several unforeseen conditions were encountered early during the construction of the building; however, through the proactive planning and cohesiveness of the entire project team, the project remained on track and was executed in a way to remain on budget and schedule.
12B • The Business Journal
Category: Best Health-Care Facility (cont.)
a time to build
May 5, 2011
Category: Best HISTORIC PRESERVATION ADAPTIVE REUSE OF FRANKLIN BUILDING Owner/Developer: Neighbors of Watertown, Inc. Architect: Crawford & Sterns, Architects and Preservation Planners Engineer: Brooks Washburn Architect, PC General Contractor: Con Tech Building Systems, Inc. Location: 50 Public Square, Watertown Project Start Date: January 2009 Project Completion Date: December 2010 Project Cost: $9.9 million
OSWEGO HOSPITAL RENOVATION & RENEWAL PHASE 3 Owner/Developer: Oswego Health Architect: Stantec Engineer: Stantec General Contractor: The Hayner Hoyt Corporation Location: 110 West 6th St., Oswego Project Start Date: May 2009 Project Completion Date: March 2011 Project Cost: $13 million This project involved an extensive renovation and two additions to critical areas of the existing facility including the emergency department and imaging department. Also, part of the construction was the complete renovation of the existing lobby, snack bar, gift shop, public access, medical records, a new laboratory, and four new semiprivate, med-surge rooms. As a result, a significant amount of phasing was required to progress the construction without reducing bed counts while maintaining all the necessary services to deliver the high-quality health care that Oswego Health represents. As work was progressed, the construction manager and hospital facilities department worked seamlessly to shift operations from one phase to the next. As new areas turned over and were occupied, the vacated spaces became the next phase of construction. This process was repeated nearly a dozen times, and at the end of 18 months, a significant portion of the hospital was completely renovated. Despite being a renovation of an existing facility and encountering numerous unforeseen conditions, the project was completed without a single change order to the contract.
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The Franklin Building was selected for complete renovation to return it to useful status, serving the community of Watertown. This project included the complete renovation of the 52,152-squarefoot, three-story building for use as commercial/retail space on the first floor, and 16 median-income housing apartments on the second and third floors. This building, on the square of downtown Watertown, is listed on the National
Registry as a Historic Building. Initially, the building had to be made safe for workers with structural shoring, removal of debris, and the abatement of both asbestos and lead-based paint. Con Tech employees, certified by the EPA, completed all lead-based paint abatement. Historically significant wood trim, window sashes, casings, metal ceilings, and numerous other building components were meticulously removed, restored, and
reinstalled to maintain the historic value and beauty of the building. All interior surfaces were demolished and the new interior layout/framing was constructed. This included building an additional story in what was an old YMCA gymnasium. An elevator and wheelchair lift were added to make the facility more accessible. At the height of activity, more than 75 skilled craftsmen were working on the project.
to the Syracuse Landmark Preservation Board, which approved the project, given that the SHPO approved. In addition, the city of Syracuse, the Everson Museum, the Catholic Diocese, the Syracuse City School District, and National Grid were required to sign off on the project for the use of their street poles. Correspondence and meetings
were required and played an integral role in the project to ensure each agency was in agreement. The county held a “Lighting Ceremony” at the Columbus Circle area to present the project to the general public. The project was completed within the county’s budget.
accomplished successfully, and expansive views are offered from every room. Another unique feature was the challenge of building on the side of a cliff on the island. This meant no staging area for the contractor, and no natural structural support for the pavilion. These challenges were met by using a floating barge as additional workspace, and vigilant communication
between the contractor and the architect to make structural modifications as necessary during project progression. The owner asked for minimal disruption to the island’s natural habitat, and again, this was achieved through careful planning from all parties. This project adds to the rich history of the island and historic river architecture.
DOWNTOWN SYRACUSE ARCHITECTURAL LIGHTING Owner/Developer: Onondaga County Site/Civil Consultant: Klepper, Hahn & Hyatt Historic Preservation Consultant: Holmes King Kallquist & Associates, Architects Prime Engineer: RAM-TECH Engineers, P.C. General Contractor: Patricia Electric Inc. Location: Syracuse Project Start Date: April 2010 Project Completion Date: November 2010 Project Cost: $411,509 The State Historic Preservation Office’s (SHPO) approval was obtained for replacing the existing light-pole bases with higher poles in downtown Syracuse. Approval was necessary because the original installation was funded by a grant that required the installation to remain for a specific term. The style of the light poles and luminaries was revised based on SHPO comments. This was presented
NOBBY ISLAND ENTERTAINMENT PAVILION Owner/Developer: A. John Merola, M.D. Architect: Brian A. Jones Engineer: Aubertine and Currier Architects, Engineers and Land Surveyors, PLLC General Contractor: Raymond Smith, Premier Building Associates, LLC Location: Nobby Island, Alexandria Bay Project Start Date: June 2008 Project Completion Date: June 2010 This project involved the design and construction of an entertainment pavilion located on Nobby Island in Alexandria Bay. The end result is a structure that complements the existing historic main house and offers a seamless transition between old and new. The historic integrity is not compromised, and architectural details in the new pavilion are inspired by custom wood paneling and fireplaces in the original house. A key feature in the design of the new pavilion was to offer unobstructed views of the St. Lawrence River. This was
May 5, 2011
a time to build
The Business Journal • 13B
Category: Best INSTITUTIONAL PROJECT
HANGAR THEATRE Owner/Developer: The Center for the Arts at Ithaca, Inc. Architect: HOLT Architects, P.C. Engineer: Taitem Engineering, PC • Structural Engineer: Ryan Biggs Associates Landscape Architect: Trowbridge & Wolf Landscape Architects LLC General Contractor: Northeast Construction Services Location: Ithaca • Project Start Date: September 2009 • Project Completion Date: May 2010 Project Cost: $2.25 million Founded in 1975, and created largely through community effort in a disused 1935 airport hanger, the Hangar Theatre today provides professionalquality summer theatre with equity actors and educational programs for regional schools. Over time, it became increasingly important to improve the 11,000-square-foot facility to match the quality of the actors and performances, and to winterize it for year-round use. The project began with a focus on winterization, reducing the potential for flooding, and creating a facility master-plan. To mitigate flooding, a new concrete floor slab was poured, raising it above the 50-year flood levels of nearby Cayuga Lake. Everything from doors to seating was removed and reinstalled. Entrances and the lobby space
were reoriented to improve access and flow to concessions and the box office. All theatre seats were replaced, and the sound panel, lighting grid, catwalks, and stage were all rebuilt. A small addition at the back of house reorganized and improved the dressing rooms, diva room, staff bathrooms, green room, and the patron’s favorite amenity, new rest rooms that doubled prior capacity. Parking, grading, and landscaping were all improved to enhance the patron experience and aid the resolution of flooding issues. To enhance the original airport-hangar aesthetic, the original oversized sliding airplane doors were painted and mounted on the exterior wall as a decorative screen serving as a reminder of the building’s history.
LE MOYNE PLAZA: BUILDING COMMUNITY Owner/Developer: Le Moyne College Architect: QPK Design Engineer: Environmental Design & Research PC Project Manager: The Pioneer Companies Location: Salt Springs Neighborhood, Syracuse Project Start Date: April 2010 • Project Completion Date: August 2010 Project Cost: $3.4 million Using a collaborative, mission-based process (surveys, focus groups, open meetings) intended to build positive relations, Le Moyne College created an inviting community space and went beyond the original scope to add green space, reduce storm-water runoff, and transform a fiveway intersection into a four-way intersection with new public parking. The college purchased 1135 Salt Springs Road, a distressed one-story 9,600-squarefoot retail building in Syracuse and undertook a $3.4 million revitalization from April to August 2010. Completed on time and on budget, the Le Moyne Plaza houses the college bookstore (run by Barnes & Noble College Booksellers),
Cam’s Pizzeria, and Dunkin’ Donuts. This visually appealing space supports live music, action research, a joint library portal, engaged reading/ tutoring, etc. Technical challenges included a deteriorated block structure requiring extensive shoring and new steel to create a large, open common area; a fast-track schedule with tight controls to maximize quality; and an off-site street reconfiguration requiring traffic controls and legal steps to transfer a dedicated street title from the city to the college. This enabled Le Moyne to remove a large portion of paved area and create an outdoor courtyard with lawns, walks, patio seating, and bike racks.
14B • The Business Journal
A TIME TO
BUILD A supplement to the
May 5, 2011
NEWS Editor-in-Chief .......................Adam Rombel firstname.lastname@example.org Assistant Editor .............Maria J. Carbonaro email@example.com Staff Writers .......................... Kevin Tampone (Online Editor) firstname.lastname@example.org ............................................................Traci DeLore email@example.com .........................................................Eric Reinhardt firstname.lastname@example.org Production Manager ......................Erin Zehr email@example.com Research Manager.................. Julie Sharkey firstname.lastname@example.org SALES Sr. Account Managers ...................................... Bernard B. Bregman email@example.com Mary LaMacchia firstname.lastname@example.org Marketing ......................BBB Marketing Inc.
A TIME TO BUILD
May 5, 2011
CATEGORY: BEST MULTIPLE RESIDENCE PROJECT ELMCREST FAMILY SUPPORT CENTER Owner/Developer: Elmcrest Children’s Center General Contractor: COR Development Co. Engineer: Palucci Engineering, PC Architect: Crissey Architectural Group Landscape Architect: Appel Osborne Landscape Architecture Project Location: Syracuse Project Start Date: October 2008 Project Completion Date: May 2010 Project Cost: $1.1 million This project is a temporary residence for children who have been removed from their home for safety reasons and are about to be placed in the foster-care system. This new 8,500-square-foot Family Support Center is a 14-bed residence that is capable of housing children from infants to adolescents. More than 200 children and their families will receive services each year at this new home-like setting.
Lou Aiello, executive vice president of COR Development, was a prime mover in the building of this new center. Due to the pressing need for this facility in our community, Lou committed to raising more than a half-million dollars toward the project. He brought together a group of friends, family, and associates in the construction industry to build the Family Support Center.
As an “architecturally significant” campus (circa 1920s), Lou’s project team worked closely with the Syracuse Landmark Preservation Board and the Office of Zoning Administration. The project maintained a high degree of architectural consistency with campus buildings and compliance with today’s environmental, safety and building standards. The project was completed on time and under budget.
The schedule to complete this work was originally 24 weeks; however, due to delays attributed to historical preservation requirements for the exterior façades and personal efforts to replicate the original window fenestration, the schedule was pushed back until December 2010 — resulting in a 32-week project-completion
schedule. Abatement of asbestos-containing materials was required as part of this work as well as lead-based paint. Project costs were strict, as this work was being completed with grants from New York State, National Grid, and the Downtown Committee of Syracuse. Ultimately, the project stayed within budget.
THE SYRACUSE TRUST CONDOMINIUMS Owner/Developer: 325 South Salina Street, LLC Architect: Gerald Ferro General Contractor: Whelan & Curry Construction Services Project Location: Syracuse Project Start Date: April 2010 Project Completion Date: December 2010 Project Cost: $1.5 million
CIRCULATION Circulation Management...(315) 579-3927 ADMINISTRATIVE Publisher..........................Norman Poltenson email@example.com Chief Operating Officer .....Marny Nesher firstname.lastname@example.org Business Manager ....................Kurt Bramer email@example.com
The Syracuse Trust Condominiums Project was a rehabilitation of the former Syracuse Trust Bank Building built in the early 1900s. The general contractor constructed four Class A residential condos, each on its own private floor, located on floors 2-5, and refinished the first-floor storefront space for office/retail use as well. Architect Gerald Ferro designed the floor plan and window plan for each unit and also assisted with meeting city-code requirements. Whelan & Curry Construction Services acted as general contractor and effectuated the build-out of this project. Donna Kelly-Mazurkowitz of DKM Interiors acted as interior designer.
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A TIME TO BUILD
May 5, 2011
The Business Journal • 15B
CATEGORY: SPECIAL RECOGNITION AWARD
WARRIORS IN TRANSITION BARRACKS
LANSING TOWN CENTER
Owner/Developer: U.S. Army Corps of Engineers, New York District Architect: Beardsley Design Associates • Engineer: Beardsley Design Associates General Contractor: Purcell-Lawman Joint Venture, Watertown Project Location: Fort Drum Project Start Date: July 2008 • Project Completion Date: January 2010 Project Cost: $33.4 million
Owner/Developer: Town of Lansing Architect: HOLT Architects Landscape Architect: Trowbridge & Wolf Landscape Architects LLC, Ithaca Project Location: Lansing Start Date: January 2009 Completion Date: May 2010
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a flexible strategy to develop linked green spaces radiating outward from the Town Center into the adjacent agricultural zone to the north, new roadways at the core to concentrate future development, and a pedestrian network with consolidated parking lots, new sidewalks, hiking trails, and the reuse of an abandoned railroad line linking existing residential areas with the new Town Center.
As our troops return from overseas duty, an increasing number are facing physical and/ or psychological wounds. As a result, the U.S. Army Corps of Engineers launched the Warrior in Transition program to allow these soldiers a place to recuperate. Many of them need to see doctors, and attend physical therapy and counseling sessions required to prepare them for their next step — either a return to active duty or transition to civilian life. Housing 144 recovering soldiers, the barracks’ design allows an ADA-compliant facility for these soldiers and is connected via a covered walkway to a company-operations facility where medical and personnel services are available. The operations building serves
the vibrant academic centers in Ithaca just five miles to the south. The project-planning approach was innovative in using unfiltered community dialogue around grass-roots concerns to define project goals. By involving the community at the start, before any specific design direction was predetermined, the planners tapped into community goodwill to move the complex project forward. Once goals
nding your footprint. were set, the planners were able to empower In 2010, HOLT Architects teamedWhatever with the community by clearly illustrating several Trowbridge & Wolf Landscape Architects to small steps in the implementation process produce planning guidelines for an exciting, new nly shares your belief in your using 3D simulations that allowed everyone to Town Center for Lansing. understand the possibilities. Lansing is a diverse rural community with The final planning recommendations included deep think agricultural roots and more recent ties to that fe. We you deserve
as a primary resource to help soldiers with career services, explore educational opportunities, and schedule necessary support services they need after leaving the Army. This project was designed to achieve LEED Silver rating based on the U.S. Green Building Council and includes a number of sustainable-design features, including the use of geothermal heating and cooling system, a dedicated 100 percent outdoor-air system with energy recovery, high-efficiency condensing boilers and variable-speed pumping, a high-performance building envelope, energyefficient lighting fixtures, low-E windows, and LEED-compliant finishes.
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16B • The Business Journal
A TIME TO BUILD
May 5, 2011
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