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Vol. XXVI • No. 19

May 11, 2012

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Nine teams to participate in first StartFast program

Annese expects growth in managed services

BY KEVIN TAMPONE JOURNAL STAFF

SYRACUSE — The StartFast Venture Accelerator in Syracuse has chosen the nine teams that will participate in this summer’s inaugural StartFast program. The three-month program, which begins Monday May 14, will focus on helping the startups develop and validate a prototype product and secure enough funding for them to move forward with their work. Organizers chose the nine teams from a group of more than 300 applicants around the world: Mozzo Analytics of Syracuse and Philadelphia extracts links from a user’s Gmail account. The service offers an organized summary of the links searchable by people, topics, and time. PadProof of Orlando, Fla. and New York City is a photo-proofing app that allows purchases from photographers with a finger swipe. BitePal of Ithaca is a restaurant deal service that works through cell phones. Cayo-Tech of Tel Mond, Israel has developed a mobile application that can notify a user’s family and friends with information needed in an emergency. RevoPT of Ithaca designs Web and mobile applications to make physical therapy

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HERKIMER — A strong focus on managed services is expected to drive growth in the years ahead at Annese & Associates, Inc. Annese installs and maintains video, voice, and data net-

BY RUQING PAN CONTRIBUTING WRITER

OSWEGO –– Burritt Motors Inc., a family-owned auto dealership now in its fourth generation, is expanding and renovating its facility at 340 Route 104 in Oswego. It’s adding features that will boost the green in both its facility features and financial results. The dealership, located just inside the city line, moved into its temporary headquarters on April 20, and started construction the week of April 23. Burritt Motors is expecting to expand the current 21,500-square-foot facility it owns to 28,000 square feet. This is the first time that the dealership is adding space since 1970, says Chris Burritt, president and co-owner. The dealership will add a new and expanded show room, customer lounge, and a re-

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Annese engineers work together in the Staging Lab at Annese & Associates, Inc. PHOTO COURTESY OF ANNESE & ASSOCIATES, INC.

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Burritt Motors expands facility, green efforts in $2.2M project

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• The Central New York Business Journal

CNYBJ.COM BRIEFS

May 11, 2012

Small-business optimism rises in April after one-month dip Optimism Index OVERVIEW - SMALL BUSINESS OPTIMISM OPTIMISM INDEX

Total cheese production in New York, excluding cottage cheese, totaled 731 million pounds in 2011, according to King Whetstone, director of the U.S. Department of Agriculture’s (USDA) National Agricultural Statistics Service, New York Field office. This is a 1.6 percent decrease from the previous year. Italian cheese, which accounted for 50 percent of New York’s total cheese output, at 366 million pounds, was down 0.2 percent. Total U.S. cheese production, excluding cottage cheeses, was 10.6 billion pounds, 1.5 percent above 2010 production, the USDA reported. Wisconsin was the leading state with 24.9 percent of the production.

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  mall-business owners’ optimism   bounced back in April, after   declining the prior month, according to a new report from the National Federation of Independent Business (NFIB). The NFIB’s Small Business Optimism Index climbed 2 points in April to 94.5. The increase helped the index recover from a 1.8 point drop in March. The NFIB’s index has now increased in six of the last seven months. But it remains weak, according to the NFIB. April’s gains only returned the optimism index to its level of February 2011, when it also notched 94.5. A slightly brighter employment outlook helped the index resume its rise in April. Seasonally adjusted, a net 5 percent of business owners planned to increase employment over the next three months, according to the NFIB’s surveying. That’s up 5 points from March, when a net 0 percent of owners anticipated hiring. However, more small businesses also reported job openings that were difficult to fill. The portion of companies who said they had job openings that they could not fill climbed 2 points to 17 percent, seasonally adjusted.

100 90 80 70

75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11 YEAR

“Business owners and consumers are of on a yo-yo right now,” he says. “One OPTIMISM INDEX Many of New York’s small-business own- sort month, they’re seeing gas above $4 a galers are coming off a period ofBased strongeron Ten Survey Indicators lon. This month, they’re seeing it under $4. than-expected sales, according (Seasonally to NFIBAdjusted 1986=100) New York State Director Mike Durant. Although we’ve had a bit of an optimism uptick, I would not be shocked at all to see That period may not continue, he adds. us drop down next month.” “In talking Jan to business ownersApr overMay the Jun Feb Mar Jul Aug Sep Oct Nov Dec last few days, I’m hearing that the win98.9 98.2 97.3 96.8 97.2 96.0 97.6 96.3 findings 97.3 96.2 94.4 94.6 survey ter was2007 a little better than we thought, Other Small-business owners became 2008 91.8into 92.9 89.6 91.5 89.3 89.2 88.2 91.1 92.9 87.5 87.8 slightly 85.2 and it continued the spring,” he says. more optimistic about general business “However, to see86.8 ourselves 2009we’re 84.1starting 82.6 81.0 88.9 87.8 86.5 88.6 88.8 89.1 88.3 88.0 slow drastically in comparison to what conditions in six months, but cynicism still 2010 89.3 88.0 86.8 90.6 92.2 89.0 88.1The 88.8 89.0of 91.7 93.2 reigned. portion owners who92.6 anticiwe’ve seen in previous years.” pated better conditions in half a year 2011 94.1 94.5 91.9and 91.2 90.9 90.8 89.9 88.1 88.9 90.2 92.0 inched 93.8 Fluctuations in gas prices consumers’ willingness spend92.5 are leading to up 3 points to a net -5 percent, seasonally 2012 93.9to 94.3 94.5 fluctuations in optimism among business adjusted. The negative result shows that more owners, Durant says. owners SMALL BUSINESS Opredicted UTLOOKworse conditions than predicted better conditions. The NFIB calculates net percentages by subtracting OUTLOOK pessimistic survey answers from optimisGood Time to Expand and Expected General Business Conditions tic answers. A positive net percentage inJanuary Quarter 1974 to April Quarter 2012 dicates a majority of respondents were (Seasonally Adjusted) optimistic, while a negative net percentage indicates a majority were pessimistic. 30 80 A majority of business owners were also 60 pessimistic about accessing credit in the future. The net percentage of regular bor20 40 rowers expecting easier credit access over the next three months ticked20up 3 points, yet remained negative at -8 percent. 10 0 Plans to make capital expenditures over the next three to six months increased, -20 the NFIB found. Seasonally adjusted, 25 percent of survey respondents 0 -40 said they 74 76 78 80 82 84 86 88 90 92 94planned 96 98 00 02 04 expenditures, 06 08 10 12 capital a rise of 3 points from March. YEAR Even so, the share of business ownThree simple words. To us, they mean everything. For over 30 years, ers who view the next three months as a good time to expand was unchanged from Strategic’s singular focus has been on the success of our clients. March. It remained at a seasonally adjusted This sets us apart from other investment firms. Our disciplined, 7 percent in April. proven investment process and independent, unbiased advice keep Inventory plans were unchanged in April our clients ahead of the curve in meeting their objectives. So when as well. Seasonally adjusted, a net 0 percent of small-business owners said they it comes to managing your wealth—are you Strategic? planned to increase inventories in three to six months, the same as in March. Firms appear to be satisfied with their current inventory levels, according to the NFIB survey. A seasonally adjusted net 0 percent of business owners believed their inventories were too small in April, a dip of Focus | Process | Independence 3 points. Sales expectations decreased in April, as Visit our new website at investstrategic.com the portion of survey respondents predicting higher sales in the next three months Syracuse, NY � Utica, NY � West Palm Beach, FL fell by 2 points. That survey indicator registered a net 6 percent, seasonally adjusted. investstrategic.com � 1.800.937.4461

Strategic

New York director’s comments

Percent "Better" Minus "Worse" Expected General Business Conditions (thin line)

New York cheese production decreases 1.6 percent

Journal Staff Index Value (1986=100)

ROME — Mark Pfisterer, president and CEO of AmeriCU Credit Union, has been appointed to the New York State Department of Financial Services’ State Charter Advisory Board. Along with eight other appointees, Pfisterer will advise Superintendent Benjamin Lawsky on ways to promote the state chartered banking system. The board’s creation was authorized last year with the enactment of the Financial Services Law used to establish the Department of Financial Services. Pfisterer is the only appointee from the Central New York region. Under the Financial Services Law, the advisory board will be responsible for retaining existing state chartered banks and credit unions, encouraging federally chartered financial institutions to change to state charters, and promoting the state banking system. The appointments to the new board include bankers representing banks with a range of assets and a variety of locations across the state. The advisory board also has one representative from a credit union (Pfisterer), one from a foreign bank, and one representative of consumer interests. The board members are appointed to a three-year term and will serve without compensation. The board will meet at least three times a year. The number of New York State-chartered financial institutions (currently 320 institutions, with assets totaling $2.1 trillion) is growing. Converting to a state charter would enable banks and credit unions to be supervised by regulators with an in-depth understanding of the dynamics of banks’ home markets. AmeriCU Credit Union is headquartered in Rome. Its branch offices include locations in Auburn, Syracuse, Liverpool, Fayetteville, DeWitt, Cicero, Watertown, and Oneida, as well as several more in the Mohawk Valley.

(SeasonallyAdjusted Adjusted 1986=100) (Seasonally 1986=100

Percent "Good Time to Expand" (thick line)

AmeriCU CEO appointed to State Charter Advisory Board

Based TenSurvey Survey Indicators Indicators Based ononTen

By Rick Seltzer

4 | NFIB Small Business Economic Trends Quarterly Report

News of note for and about Central New York businesses

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The Central New York Business Journal • 3

May 11, 2012

Medicaid Health Homes spell changes for AIDS Community Resources By Rick Seltzer Journal Staff

SYRACUSE — AIDS Community Resources has some major changes on its plate as it prepares to move into a Medicaid Health Home. Those changes include a broader mission and possibly a new name for the not-for-profit, which helps individuals with HIV/AIDS and those affected by it. And AIDS Community Resources may also have to hire more employees and grow into more space over time. That’s because the organization will become part of a Medicaid Health Home starting July 1. A Medicaid Health Home is not a brick-and-mortar facility — it is a new model under New York’s Medicaid program that was spurred by the 2010 federal health-care reform law. A Health Home is a model of care management that has all of a Medicaid recipient’s caregivers communicating, according to the New York State Department of Health. Health Homes, which are being rolled out for individuals with chronic conditions, will be made up of health-care providers, health plans, and community-based organizations. Within the Health Home structure, a care manager oversees an individual’s care, helping that individual stay healthy and out of the hospital. The model also aims to spur providers, health plans, and community organizations to share medical records to help prevent medical services like tests

from being duplicated. AIDS Community Resources, which currently has a Medicaid case-management program, will fill the role of a community-based organization in the new Health Home model. The organization must adapt to the new model in July if it wants to continue offering case management to people on Medicaid with HIV/AIDS, according to its executive director, Michael Crinnin. “If we don’t participate in this program, then our case management will go away in two years,” he says. “That’s not acceptable to me. It would be a terrible blow to the people we serve.” However, to participate in a Health Home, the organization will need to offer case management for people with chronic diseases other than HIV/AIDS, Crinnin says. So AIDS Community Resources is preparing to work with patients with chronic diseases like diabetes, chronic obstructive pulmonary disease, and high blood pressure. The not-for-profit already has some experience with those diseases, according to Crinnin. It commonly encounters a range of chronic diseases when helping individuals manage HIV/AIDS. “A majority of our clients have these other chronic diseases,” Crinnin says. “You can’t manage HIV out of the broader context. We’re already experts in this without meaning to be.” AIDS Community Resources has one of its staff members working on generic health issues like health insurance and

New name

The new, wider-ranging care-management role will likely spur a name change at AIDS Community Resources. The organization will maintain its expertise helping people with HIV/AIDS but will also need to be accessible to others, Crinnin says. And he recognizes that some people may balk at receiving services from an organization with AIDS in its name. “The stigma is so intense,” he says. “We understand that for us to participate, we either need to change the name of the agency or come up with a whole new division.” Crinnin isn’t sure whether the organization will choose to change its name or operate two divisions. He also hasn’t established a timeline for making that decision.

Possible growth

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Michael Crinnin, executive director of AIDS Community Resources. prescriptions. That staff member is in the process of developing curriculums about different chronic diseases, Crinnin says. The not-for-profit plans to continue to expand its expertise in chronic diseases and train its case managers in those diseases, he adds.

The Health Home changes may also lead to growth at AIDS Community Resources, according to Crinnin. Chronic-disease case-management programs are relatively scarce in the not-for-profit’s nine-county coverage area, which includes Cayuga, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, and St. Lawrence counties, he says. “There are a number of behavioral-health targeted case-management programs,” he says. “There aren’t many chronic-disease programs.” Crinnin does not know how many adSee AIDS, page 19


4

• The Central New York Business Journal

May 11, 2012

First Olinsky Law/Burton Blatt fellow is selected By kevin tampone Journal Staff

SYRACUSE — The Americans with Disabilities Act (ADA) passed in 1990 with the aim of barring discrimination against disabled people in everything from employment to transportation. Not enough has changed since then, says Stephanie Woodward. “There are lots of people who still think it’s OK to discriminate,” says Woodward, who was born with spina bifida and uses a wheelchair. “There are lots of bus driv-

ers who still won’t stop for someone with a wheelchair. These are problems that we shouldn’t have after 22 years of this law.” Woodward is a second-year student at the Syracuse University (SU) College of Law and a research assistant at SU’s Burton Blatt Institute, which works to advance the civic, economic, and social participation of people with disabilities. She is also the first recipient of the Olinsky Law Group/Burton Blatt Institute Fellowship. The fellowship will give Woodward the chance to learn about disability cases at the Olinsky Group during her third year of law

school and continue as a research assistant at the institute. She’ll have the chance to join the law firm at the end of the program. The fellowship program was formed with a $100,000 gift from Howard Olinsky, an alumnus of SU’s law school and the owner of the Olinsky Law Group, which specializes in disability cases. Woodward is pursuing a joint degree in law and education. She became interested in law after working with the Center for Disability Rights in Rochester. She hopes to work on cases related to the ADA with her law degree. Companies must realize that providing

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access for the disabled is not an optional addon, but a standard cost of doing business, Woodward says. She hopes to see more enforcement of the law in the future. Woodward is president of the Disability Law Society at SU College of Law. She is also student representative for the Accessibility and Universal Design Committee for the new College of Law building. For Olinsky, the fellowships will help train a new generation of disability lawyers. He notes his firm has been growing recently and just hired its 11th attorney. That’s up from six lawyers in early 2011. The Olinsky Law Group also has more than 30 support staff members. Woodward will rotate through different practice areas at the firm, Olinsky says. He’s hoping fellows will come in with an idea of what types of cases they’d like to work on in the future. “We’re always open to picking up new practices areas in the disability field,” he says. For someone interested in practicing disability law, it would be tough to find better practical experience than working with a firm like Olinsky’s, says Peter Blanck, Burton Blatt chairman. The entire firm is focused on different aspects of disability law including Social Security disability, workers’-compensation cases, long-term disability, and ADA cases. At other firms, that area of law might be just a small slice of the overall business. Woodward, Blanck adds, is part of the first generation of Americans who have grown up only knowing a post-ADA world. They’ll come to own the law and advocate for it strongly, he says. Woodward notes that the law itself doesn’t do any good if no one follows it and it’s not enforced. q Contact Tampone at ktampone@cnybj.com

OPTIMISM: Sales

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presented a major hurdle for businesses Continued from page 2

Even so, business owners reported an increase in actual sales over the last three months. Seasonally adjusted, a net 4 percent of owners said sales were higher in the last three months than they were in the prior three months. That’s up 3 points from March. Sales posed a major challenge for businesses, as 19 percent of owners cited poor sales as their single most important problem. However, government requirements and red tape was the top problem, which 20 percent of small businesses citing it as their single most important problem. The NFIB, a nonprofit organization representing members in all 50 states and Washington, D.C., calculated the Small Business Optimism Index after surveying 1,817 of its members in April. q

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The Central New York Business Journal • 5

May 11, 2012

BURRITT: Customers will no longer have to park their vehicles outside for service appointments Continued from page 1

Going green

The renovated Burritt Motors will look

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vamped service area with seven more service bays. The $2.2 million project will take up to six months to complete. Burritt, the third generation who runs Burritt Motors, says the dealership has grown sales significantly and needs more space. In 2011, the dealershipâ&#x20AC;&#x2122;s revenue increased by 25.5 percent to about $31 million from about $25 million in 2010. Last year, Burritt Motors sold more than 1,220 cars, of which 28 percent were new and 72 percent were used. Burritt contends that this yearâ&#x20AC;&#x2122;s renovation is a good way to expand his business without opening a new dealership. Burritt says although the renovation is not required by General Motors (GM), he believes a progressive and competitive business like Burritt Motors should be modernized and expanded to become more efficient to meet customersâ&#x20AC;&#x2122; need. With its new design, Burritt Motorsâ&#x20AC;&#x2122; customers will no longer have to park their vehicles outside for service appointments. Instead, they will be able to drive right into the dealership and hand the keys over on their way to the new customer lounge. â&#x20AC;&#x153;Among the features will be a fireplace, air-conditioning, computer workstations and Wi-Fi, a new coffee bar, couches, flat-screen televisions, and a monitor showing the status of your vehicleâ&#x20AC;&#x2122;s service,â&#x20AC;? says Burritt. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re also adding a five-bay vehicle-detailing center with a menu of services for our customers to keep their cars and trucks looking like new.â&#x20AC;?

For its other green efforts, Burritt Motors ers as they pull in the service drive and do similar to other Chevrolet dealerships, complete with the bright blue frontage. However, is also using re-manufactured furniture thatâ&#x20AC;&#x2122;s preliminary checks on their vehicle. The dealershipâ&#x20AC;&#x2122;s service and sales diviit will also include unique features that will made locally, energy-efficient fixed gears, complement its look. One of Burritt Motorsâ&#x20AC;&#x2122; and is adding more waste boilers. Instead sions are both growing at about the same unique features is the 200 solar panels itâ&#x20AC;&#x2122;s of transporting the waste and dumping it pace. In 2011, service generated about adding on the dealership roof to conserve elsewhere, the dealership chooses to burn one-third of Burritt Motorsâ&#x20AC;&#x2122; revenue, while it on-site. By burning waste motor oil, it will sales produced the other two-thirds, says energy and lower its operating costs. Burritt. â&#x20AC;&#x153;We call upon ourselves to be good cor- generate more heat and be self-sustained. Its service sales tend to lag vehicle sales porate citizens and good stewards of the because the dealership sells to some longearth,â&#x20AC;? says Burritt. â&#x20AC;&#x153;They [the solar panels] Construction will provide an average of 25 percent of Burritt Motors is getting financing for the distance customers who canâ&#x20AC;&#x2122;t or choose not our power needs annually. On a sunny day, renovation project from Pathfinder Bank, to travel back for their regular maintenance. Chris Burrittâ&#x20AC;&#x2122;s office is located in the serhowever, solar power will cover nearly 100 as well as a low-interest loan and tax incenpercent of our energy needs.â&#x20AC;? tives through Operation Oswego County and vice area. The office of his son, Rich Burritt Burritt Motors considers now a good time the Oswego County Industrial Development â&#x20AC;&#x201D; vice president, co-owner, and the fourth generation involved in the dealership â&#x20AC;&#x201D; is to invest in solar panels as the dealership Agency for the solar panels, says Burritt. seeks to attract more environmentally conVIP Structures, Inc., a design-build firm situated in the sales area. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a little unusual for a car dealership scious consumers. Burritt says heâ&#x20AC;&#x2122;s seeing based in Syracuse, is doing the construcmore people buying fuel-efficient models tion work. During construction, sales and that we have the owner out in the service this year. administration will be relocated in two mo- department,â&#x20AC;? Chris Burritt says, â&#x20AC;&#x153;but that â&#x20AC;&#x153;The Chevy Equinox is one of our biggest bile offices that Burritt Motors rented from way we have family ownership over[seeing] sellers. Itâ&#x20AC;&#x2122;s very fuel-efficient, very nice look- Modular Space Corp., and vehicle service all aspects of our business.â&#x20AC;? Wanting to be connected to his customers ing,â&#x20AC;? he notes. â&#x20AC;&#x153;The new Silverado pickups will continue to be performed on-site. also get much better fuel economy. So, if Burritt says he doesnâ&#x20AC;&#x2122;t see the on-going and his staff, Burritt says he is not considercustomers have one of those 7-year-old [ve- construction as an impediment to the dealer- ing opening multiple dealerships. â&#x20AC;&#x153;We really like the personality and the hicles], they can upgrade and get 20 to 30 shipâ&#x20AC;&#x2122;s growth, and is hoping it can continue percent better fuel economy if they are going to grow the business during the project. He family atmosphere that we have here, and to drive trucks.â&#x20AC;? says the dealership has made it easy for its we would be too afraid that it would be lost Burritt says electric models such as the customers to park by adding about 200 park- if we did that,â&#x20AC;? he says. â&#x20AC;&#x153;Bigger isnâ&#x20AC;&#x2122;t always Chevy Sonic and Chevy Volt are also hot this 0RQGD\-XQH ing spots to accommodate the space that the better.â&#x20AC;? He says the dealership will add more year. He says the dealership always charges DWWKH3RPSH\&OXE construction has taken up. employees after the renovation is finished, the battery for its customers completely 5HJLVWUDWLRQEHJLQVDP as it will need more employees to maintain when they bring in their electric cars for ser- 6KRWJXQ6WDUWSP Growth vice, so he thought it would be neat to charge Burritt Motors, a 39-employee dealership, the service. %URXJKWWR\RXE\ â&#x20AC;&#x153;We are expecting a 15 to 20 percent anChevyâ&#x20AC;&#x2122;s electric models with the sun. expects to grow to about 45 employees by â&#x20AC;&#x153;I think itâ&#x20AC;&#x2122;s a unique opportunity to see the end of this year. It plans to add two tech- nual growth,â&#x20AC;? says Burritt. As it grows, Burritt Motors also plans to get what alternative means of power we can have nicians, one service supervisor, one support q and how they work,â&#x20AC;? he says. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s just an in- person for data merchandising and customer greener in more ways than one. volving phase of where all manufacturers are assistance, and at least one new sales repretrying to get more conscious of energy cost 7KLVHYHQWLVDJUHDWRSSRUWXQLW\WRVKRZ\RXUFXVWRPHUV\RXUDSSUHFLDWLRQ sentative. It will also add four part-time staff Contact The Business Journal at and waste to continue to be efficient.â&#x20AC;? for guest services, who will greet the custom- news@cnybj.com :HÂśYHJRWWKHFRXUVHWKHIRRGDQGGULQNDQGZHNQRZKRZWRHQWHUWDLQ\RXU &$37$,1 &5(:

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T:10”

• The Central New York Business Journal

May 11, 2012

DESIGNING BUILDINGS FOR THE FUTURE IS ALAN’S BUSINESS. WE ARE PROUD HE HAS MADE IT OUR BUSINESS, TOO. Alan works every day to turn his vision into a reality. And Time Warner Cable Business Class partnered with him to bring it to life. We provided his firm with a High-Speed Internet and Business Class Phone solution to communicate with his clients. At Time Warner Cable Business Class, we take the time to listen — so you get the right mix of Internet, Phone, Ethernet and Cable TV solutions. We built that for Alan. We can build it for you.

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The Central New York Business Journal • 7

May 11, 2012

PANEL INVESTMENT INVESTMENT

Editor’s note: The Investment Panel feature appears regularly in our Financial Quarterly publication, spotlighting area investment professionals and their views on the markets and investments. In this issue, we chat with Jim Burns, David Lemire, John Lombardo, and Brian Schmidt. We interviewed them separately, but asked the same questions. Burns and Lombardo talked via telephone, while Lemire and Schmidt communicated through email. James (Jim) Burns, president of J.W. Burns & Company in DeWitt. Burns

David S. Lemire, managing director at Strategic Financial Services in Utica. Lemire

Lombardo

John Lombardo, chief investment officer at Blue Water Capital Management, LLC in Syracuse. Brian Schmidt, financial planner with NFP United Advisors, LLC in Endwell.

Schmidt

Business Journal: What is your view on where the financial markets are headed in the coming months? Burns: Thus far, in 2012, central banks around the world have been injecting massive liquidity into the financial system. This has been a key driving force behind the strong stock-market performance. If you look beneath the headlines, however, the economic data has been See PANEL, page 17

Inside Stuff

:

QUARTERLY FINANCIAL

& INSURANCE

Cover Story

Generations Bank sees growth ahead Editor’s Note: The Newsmaker Interview portion of Financial NEWSMAKER Quarterly features a conversation with a CEO of a major Central New York business every quarter. The story discusses key financial issues affecting the newsmaker’s business and industry.

INTERVIEW

BY KEVIN TAMPONE JOURNAL STAFF

SENECA FALLS — You can count Generations Bank among those that have been able to thrive despite the worst economic downturn in decades, President and CEO Menzo Case says. The bank never saw demand for loans sag and has been looking at expanding into new markets. Generations, formerly known as Seneca Falls Savings Bank, was a participant in the U.S. Treasury Department’s Small Business Lending Fund — a $30 billion fund created in 2010 to provide capital to community banks with under $10 billion in assets. Generations Bank received $5 million through the program, which aims to spark more lending at community banks. The bank was quickly able to reach its lending commitments under the program, Case says. “That was really the right thing to do from the federal government side,” he says. “They needed to look at community banks and provide them with capital so we can expand business lending. To get that additional capital was a big part of our growth. It provided us the means to grow in a measured way.”

On Tour:  Steve Forbes and the Northwestern Mutual CEO visit Syracuse. Page 9

PHOTO COURTESY OF GENERATIONS BANK

A new ATM sign is installed at Generations Bank in Seneca Falls, which is looking to expand into new markets. Generations Bank began expanding its commercial lending and insurance services about five years ago, Case adds. And while most of the bank’s customer base is families, he expects more commercial growth in the years ahead. Family-owned businesses in particular will be an important growth segment for Generations, he says. The bank has been heavily involved in lending to the Finger Lakes wine and cheese industry, Case says. It was the lead lender for Magnus Ridge

Vineyard and Winery, a new winery on Seneca Lake. Case expects growth on the retail side of the business as well. He notes the bank is seeing strong demand from consumers for auto loans. “We’ll plod along,” he says. “We won’t grow as fast as some others, but we will grow in a measured, methodical way. That’s how we’ve done it for 140 years.” See BANK, page 13

FQ

DATA FILE  See charts on the regional housing market (Page 8), jobs (page 11), and airport-passenger traffic (Page 12).

FO SALR E


8

FINANCIAL QUARTERLY/INSURANCE

• The Central New York Business Journal

DATA FILE FQ

May 11, 2012

HOME PRICES IN 16-COUNTY CNY REGION Median sales price of existing single-family homes sold in the 1st quarter of 2012 compared to other quarters.

HOME SALES IN 16-COUNTY CNY REGION Number of existing single-family homes sold in the 1st quarter of 2012 compared to other quarters. County

1Q 2012

4Q 2011

1Q 2011

% Change 4Q 11 to 1Q 12

% Change 1Q 11 to 1Q 12

BROOME CAYUGA CHEMUNG CHENANGO CORTLAND HERKIMER JEFFERSON LEWIS MADISON ONEIDA ONONDAGA OSWEGO SENECA ST. LAWRENCE TIOGA TOMPKINS CNY TOTAL

296 89 137 61 48 42 176 28 95 258 655 114 45 134 72 105 2,355

367 153 177 80 88 61 236 37 140 431 967 201 67 200 84 132 3,421

204 73 113 55 48 44 136 25 66 244 573 137 43 157 48 84 2,050

-19.3 -41.8 -22.6 -23.8 -45.5 -31.1 -25.4 -24.3 -32.1 -40.1 -32.3 -43.3 -32.8 -33 -14.3 -20.5 -31.2

+45.1 +21.9 +21.2 +10.9 unchanged - 4.5 +29.4 +12 +43.9 +5.7 +14.3 -16.8 +4.7 -14.6 +50 +25 +14.9

County

Median Price 1Q 2012

Median Price 4Q 2011

Median Price 1Q 2011

% Change 4Q 11 to 1Q 12

% Change 1Q 11 to 1Q 12

BROOME CAYUGA CHEMUNG CHENANGO CORTLAND HERKIMER JEFFERSON LEWIS MADISON ONEIDA ONONDAGA OSWEGO SENECA ST. LAWRENCE TIOGA TOMPKINS

$97,461 $110,000 $99,000 $87,650 $113,250 $97,520 $136,250 $117,500 $124,000 $94,500 $119,780 $90,000 $114,999 $84,521 $118,500 $160,000

$105,000 $105,000 $105,450 $85,500 $93,000 $107,000 $142,600 $122,000 $124,950 $105,000 $127,500 $97,000 $114,450 $94,250 $121,750 $179,500

$105,500 $86,920 $84,000 $90,500 $109,450 $75,000 $132,850 $81,800 $129,750 $100,000 $123,617 $85,000 $104,200 $91,000 $105,040 $184,400

-7.2 +4.8 -6.1 +2.5 +21.8 -8.9 -4.5 -3.7 -0.8 -10 -6.1 -7.2 +0.5 -10.3 -2.7 -10.9

-7.6 +26.6 +17.9 -3.1 +3.5 +30 +2.6 +43.6 -4.4 -5.5 -3.1 +5.9 +10.4 -7.1 +12.8 -13.2

SOURCE: NYS ASSOCIATION OF REALTORS, INC.

FO SALR E

FO SALR E

FO SALR E

FO SALR E

SOURCE: NYS ASSOCIATION OF REALTORS, INC.

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financial quarterly/insurance

May 11, 2012

The Central New York Business Journal • 9

Forbes, Northwestern Mutual CEO visit Syracuse on game plan tour each month and not jumping in and out of the market. He also endorsed a diversified approach that includes reliable investments like permanent life-insurance policies. “That kind of diversified approach, it’s not going to excite people at the cocktail party,” Forbes says. “But what you end up with is something that’s going to provide you with a very solid foundation as you move forward. Over time, those things do accumulate cash, and it’s nice to know that you have something that’s not going to drop out if the market does take a hit.”

By Rick Seltzer Journal Staff

SYRACUSE — Steve Forbes says not to trust your gut when it comes to drawing up a financial game plan. “The gut is a bad guide,” says Forbes, the chairman and editor-in-chief of New York City–based Forbes Media. “The key is, don’t let your emotions take over.” Forbes was at the Oncenter in downtown Syracuse May 2 as part of a seven-city tour titled, “The Power of a Game Plan.” The tour had Forbes and Northwestern Mutual Life Insurance Co. Chairman and CEO John Schlifske discussing the economy, financial markets, and financial planning. Their stop in Syracuse concluded a day when Forbes and Schlifske spoke earlier in Boston and Manchester, N.H. Later in the week, on May 3, the tour hopped to Grand Rapids, Mich. and Pittsburgh. It wrapped up May 4 with visits to Memphis, Tenn. and Cincinnati. “We travel to these cities and we do a presentation, and we’ve found it’s very helpful to people,” Schlifske says. “The notion of a game plan is very simple. What you’ll hear us talk about is how important a plan is in terms of achieving what you want.” The tour covered components of a financial game plan including insurance for protection against unforeseen events, investments to help grow assets, and retirement savings. Other components include tax preparation, estate planning, and intergenerational planning.

Economic projections

photo courtesy of northwestern mutual

Northwestern Mutual chairman and CEO John Schlifske, left, Steve Forbes, the chairman and editor-in-chief of New York City–based Forbes Media, center, and Mike Woods, senior vice president of Forbes Media, right, during their visit to Syracuse on May 2 as part of the “The Power of a Game Plan” tour. Some of the advice may sound as if it is tailored for individuals. But Schlifske stresses that business owners should also consider it. “The things we talk about really make sense for a small business as well,” he says. “The idea that you need to have a plan around your financial health — that you probably need some level of insurance

because you probably have one or two key employees that are vital to the success of your company. And then there are all the issues that go with passing the business on from a generational perspective.” The stock market can be a risk for financial game plans, because volatility can affect investment income, Forbes says. He recommended investing a certain amount

Schlifske and Forbes predicted better economic times in the future, both for the United States and for regions like Syracuse and upstate New York. Short-term pain is likely to persist, according to Schlifske, who did not give an exact time frame. However, he added that he’s “bullish” on the long-term future of the economy. “I don’t know about Syracuse, but we’re headquartered in Milwaukee, which is oftentimes referred to as an old rustbelt city,” Schlifske says. “What we see in Milwaukee, it’s very encouraging. “One of the reasons I think many cities in the Midwest are going to have an upswing is this notion of reinvention and innovation,” he says. “Milwaukee has moved away from being strictly a manufacturingSee tour, page 13

Our firm’s Only Objective:

An AbOve AverAge return with belOw AverAge risk. why j.w. burns & company? “Money goes to where it is treated best.” This truism describes our mission at J.W. Burns & Company – to make our clients’ money while carefully managing risk. While a lot of investment firms talk about their investment discipline, only a few actually employ it. We do; because we know that it is your money - and we work hard to make it grow.

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10

• The Central New York Business Journal

T

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E

FINANCIAL QUARTERLY/INSURANCE F A C T S A B O

U

May 11, 2012

T

Excellus report: Young, unmarried have high uninsured rates Age BY RICK SELTZER Mirroring national patterns, young adults in upstate New York (ages 19 to 25) had the ding highest vows often lead to higher household JOURNAL STAFF

Uninsured rate by age group: Upstate New York adults (ages 19 to 64), 2008-2010 Uninsured rate by age group:

incomes, it said. uninsured rate of any age group, although the majority of these individuals were employed.

And higher household incomes mean lower uninsured rates, the report found. ith youth comes a high rate of The uninsured rate checked in at 24.5 not having health insurance. Upstate New York adults (ages 19 to 64), 2008 - 2010 30% percent among those living in households That’s one of the findings with incomes of less than $25,000. It slipped of an Excellus BlueCross BlueShield re24.7% to 21.3 percent for those with household port released in April. The report, titled 25% incomes falling between $25,000 and “Uninsured Adults in Upstate New York,” $49,999. used U.S. Census Bureau surveys taken 20% 18.5% The uninsured rate took a major dip to from 2008 to 2010 to profile the region’s 12.7 percent for residents living in house18-year-olds to 64-year-olds who have no holds with incomes of $50,000 to $74,999. health insurance. 15% 12.6% It fell to 9.1 percent for incomes between “By identifying the at-risk individuals, it $75,000 and $99,999, and then dropped furallows us to focus more attention there,” 10.1% 9.5% 10% ther to 6.4 percent for those in households says Dr. Arthur Vercillo, regional president making $100,000 or more. of Excellus, a nonprofit based in Rochester Uninsured rates varied depending on that is Central New York’s largest health 5% work-force participation. A higher portion insurer. “We think it’s important for our of unemployed workers were uninsured community, just as it’s important for all 0% compared to those who had jobs. communities, to spot opportunities to en19-25 26-34 35-44 45-54 55-64 For unemployed workers, the uninsured hance access to coverage.” Source: U.S. Census Bureau. “Current Population Survey, Annual Social and Economic Supplement, 2008-2010.”SOURCE: http://dataferrett.census.gov/run.html rate was 30.1 percent. It was 21.4 percent US CENSUS BUREAU The report found that nearly a quarter for part-time workers. of adults between the ages ofSlight 19 variations and 25may appear due to rounding. The rate slid to 10.3 percent for full-time were uninsured — 24.7 percent. And 18.5 • Almost one-quarter of adults between the ages of 19 and 25 were uninsured, even though three percent of those ages 26 to 34 had no health ments of the population. Just 12.6 percent or widowed men were uninsured. Among workers. However, it was also only 14.8 of everyoffive had jobs (data married not shown). National figures their percent for those not in the labor force, a insurance, it said. those agesfull35 toor44part-time were uninsured. or widowed women, 7.8 suggest percent that group “Sometimes we call them the lower-than-average young The uninsured rate fellmake further to 10.1coverage had no health insurance.8 An early provision incomes health unaffordable. of that the included retirees, students, family members invincibles,” Vercillo says. “And it Patient would Protection percent for those 45 to 54.Care And itAct wasthat allows Those who were divorced separat- under and ages Affordable young adults to beorcovered their taking care of children, and be helpful bringing them into the insur- only 9.5 percent for those ages 55 to 64. ed had higher uninsured rates as well. residents who were not working or seeking parents’ private health insurance until their 26th birthday went into effect in September 2010. ance pool. It would help everybody. Even Marital status also played a role in un- Divorced or separated men had a 22.7 per- work. The Excellus report noted that a majorthe young invincibles develop appendicitis insured rates, the report found. Single up- cent uninsured rate. Divorced or separated • 21.3 percent of those younger than 35 were uninsured (data not shown). ity of residents without insurance actuor have an accident sometimes. And then state residents had higher uninsured rates women’s uninsured rate was 15.6 percent. they have to face the unhappy reality that than those who were married. Single men’s Marriage probably lowers uninsured ally had jobs. That’s possible even though • The uninsured rate among upstate New York adults decreased with increasing age, declining to those bills are quite high if you don’t have uninsured rate stood at 25.3 percent, and rates by giving many individuals access uninsured rates were highest among the 9.5 percent of those ages 55 to 64. insurance.” single women’s was 18.1 percent. to health insurance through their spouses, See REPORT, page 13 Uninsured rates declined in older segIn comparison, 9 percent of married according to the report. In addition, wed-

W

}

Percent of the population 15.6% 22.2%

Percent of the uninsured 14.8% 27.0%

33.9%

18.3%

Banquets Private Parties Casual Bar Atmosphere

25.1%

19-25 26-34 35-44

315.478.3023

50.8%

17.9%

45-54

Upstate Niagara Cooperative, Inc.

55-64 23.7% 16.6%

18.8%

116 Walton St. Syracuse

}

“Striving to run a clean, safe facility where local commerce can prosper”

Logistically here since 2008

• 6361 Thompson Road, Syracuse • Space available - 100,000 s.f. • Great location - close to highways 90, 690, 81, 481

Source: U.S. Census Bureau. “Current Population Survey, Annual Social and Economic Supplement, 2008-2010.” http://dataferrett.census.gov/run.html Slight variations may appear due to rounding.

• Current Tenants: SleepMaster, ProSource • Upstate New York adults younger than 35 account for about 34 percent of the population but Wholesale Flooring, Upstate Niagara Cooperative, Offering Lunches, Dinner, and Daily HourofSpecials reflected moreHappy than half the uninsured (50.8 percent). CNY Rack and Surplus, Dining Furniture Center

Catering to All Your business Functions, Meetings of Any Kind, Training Classes, Guest Speakers, Awards Events, Free Wifi, Special Luncheon Packages

• In contrast, those ages 35 to 64 make up two-thirds of the population but accounted for about RAVproperties.com • (315) 403.9000 • Local owner/operator half of its uninsured.

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Available at all Syracuse area Wegmans stores and online at hillside.com/tos Advanced Ticket Price Ticket Price After May 4

$40 per person $50 per person

(Must be 21 years old with proof of age.)

Hosted by Sponsored by


FINANCIAL QUARTERLY/INSURANCE

May 11, 2012

The Central New York Business Journal • 11

Unemployment Rates County, Unemployment Rates byby County, Unemployment Rates by County New York State, New York State, New York State, March 2012 March 2012

DATA FILE FQ

March 2012

Clinton Clinton Clinton Clinton Franklin Franklin St. Lawrence Lawrence St. Franklin Franklin St. Lawrence Lawrence St.

EMPLOYMENT DATA SNAPSHOT Central New York Unemployment Rates by County (data not seasonally adjusted)

County

March 2012

February 2012

BROOME CAYUGA CHEMUNG CHENANGO CORTLAND HERKIMER JEFFERSON LEWIS MADISON ONEIDA ONONDAGA OSWEGO SENECA ST. LAWRENCE TIOGA TOMPKINS NY STATE UNITED STATES

8.7% 8.6% 8.6% 8.9% 9.3% 9.8% 11.1% 11.5% 9.3% 8.5% 8.0% 11.3% 8.4% 11.0% 8.1% 5.9% 8.7% 8.4%

9.4% 9.3% 9.2% 9.5% 10.1% 10.4% 11.7% 11.9% 9.9% 9.1% 8.6% 12.2% 9.0% 11.3% 9.2% 6.5% 9.2% 8.7%

Jefferson Jefferson Jefferson Jefferson Lewis Lewis

March 2011

8.8% 8.5% 8.1% 9.0% 9.1% 9.9% 11.1% 11.3% 9.2% 8.5% 7.6% 11.4% 8.4% 11.0% 8.4% 5.3% 8.2% 9.2%

SOURCE: NEW YORK STATE DEPARTMENT OF LABOR

Essex Essex

Essex Essex

Lewis Lewis

Hamilton Hamilton Hamilton Hamilton Warren Warren Herkimer Herkimer Warren Warren Oswego Oswego Herkimer Herkimer Washington Washington Oswego Oswego Washington Washington Washington Washington Orleans Orleans Oneida Oneida Oneida Niagara Niagara Wayne Wayne Orleans Orleans Oneida Monroe Monroe Oneida Fulton Fulton Niagara Niagara Wayne Wayne Saratoga Saratoga Monroe Monroe Onondaga Onondaga Fulton Fulton Saratoga Saratoga Genesee Genesee Onondaga Onondaga Cayuga Cayuga Madison Madison Montgomery Montgomery Genesee Genesee Ontario Ontario Cayuga Cayuga Madison Ontario Ontario Madison Montgomery Schenectady Montgomery Schenectady Ontario Ontario Seneca Seneca Erie Erie Livingston Livingston Schenectady Schenectady Rensselaer Rensselaer Seneca Seneca Erie Erie Livingston Livingston Wyoming Wyoming Yates Yates Rensselaer Rensselaer Schoharie Schoharie Albany Otsego Schoharie Albany Otsego Cortland Cortland Wyoming Wyoming Yates Yates Schoharie Schoharie Albany Albany Otsego Otsego Cortland Cortland Chenango Tompkins Tompkins Chenango Schuyler Tompkins Chenango Tompkins Schuyler Chenango Schuyler Schuyler Steuben Chautauqua Chautauqua Greene Steuben Greene Columbia Allegany Allegany Columbia Cattaraugus Cattaraugus Steuben Broome Broome Chautauqua Chautauqua Greene Tioga Tioga Steuben DelawareGreene Delaware Greene Columbia Allegany Chemung Chemung Columbia Cattaraugus Allegany Cattaraugus Broome Broome Tioga Tioga Delaware Delaware Chemung Chemung

County Unemployment Rates (not seasonally adjusted)

County Unemployment Unemployment Rates Rates (not (not seasonally seasonally adjusted) adjusted) County County Unemployment Unemployment Rates Rates (not (not seasonally seasonally adjusted) adjusted) County

Rate isis11.0 percent or Rate 11.0 percent orgreater greater Rate is 11.0 percent or greater Rate is 10.0-10.9 percent Rate is 10.0-10.9 percent Rate is 10.0-10.9 percent Rate is 9.0-9.9 percent Rate is 9.0-9.9 percent Rate is 9.0-9.9 percent Rate is 8.0-8.9 percent Rate is 8.0-8.9 percent Rate is 8.0-8.9 percent Rate isisless than 8.0 percent Rate less than percent Rate is less than 8.0 8.0 percent New York State Rate: 8.7 percent

York State = 8.7 percent NewNew York State raterate = 8.7 percent

Ulster Ulster Sullivan Sullivan Sullivan Sullivan

Ulster Ulster

Dutchess Dutchess Dutchess Dutchess Dutchess Dutchess

Putnam Putnam OrangePutnam Orange Putnam Orange Orange Westchester Westchester Westchester Westchester Westchester Rockland Rockland Rockland Rockland Suffolk Suffolk Bronx Bronx Nassau Nassau Suffolk Suffolk Bronx Bronx New New York York Nassau Nassau Queens Queens New York York Queens New Queens Kings Kings Kings Richmond Kings Richmond Kings Richmond Kings Richmond Richmond Richmond Richmond Richmond

Bronx Bronx

Bronx Bronx

New York York New New York York New Queens Queens Queens Queens Queens Queens Queens

Kings Kings

Kings Kings

Richmond Richmond Richmond Richmond Richmond Richmond

Come join the entrepreneurs and business leaders of CNY as we gather to hear from another famous entrepreneur and management thought leader. � � �

Learn strategies to grow your company from “good to great.” Network with industry leaders. Train employees to think innovatively.

Company Sponsorship Packages Available. Individual Tickets Available Online. Barry Moltz

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Topic: The Truth About Running Your Own Business

May 16, 2012

Gordon Student Center OCC Campus 4:30pm Networking | 5:30pm Program $30 general admission | $10 student admission

www.fes-cny.org • info@fes-cny.org

The 93rd Annual Dinner Vendor Exposition The Transportation Club’s Biggest Event of the Year!

Featuring Syracuse Football Legend & Hall of Famer

Floyd Little Date: Wednesday, May 23, 2012 Time: Vendor Show & Cocktails- 5:00 PM-7:00 PM Dinner & Program 7:00 PM -9:00 PM Place: Double Tree Hotel Tariff: $50/person $25 for retirees & students 18 yrs. and under Reservations: Arlene Anderson (315) 682-7337 Email: aanderson@alliance.com By no later than May 15 We prefer tickets to be prepaid. Please call if other arrangements need to be made. Checks should be made out to the C.W. Bud Cragin Memorial Scholarship Fund and mailed to: Arlene Anderson • 112 Marangale Road • Manlius, NY 13104

Floyd Little

Carrie Lazarus, Event Emcee

Nassau Nassau Nassau Nassau


FINANCIAL QUARTERLY/INSURANCE

• The Central New York Business Journal

FQ

SYRACUSE HANCOCK INTERNATIONAL AIRPORT 2012

DATA FILE

JAN.

FEB.

2011 MARCH

TOTAL

ENPLANE

81,730

71,888

DEPLANE

73,251

70,634

144,063

165,852

472,546

142,522

FEB.

2011

MAR. TOTAL

JAN.

FEB.

MAR. TOTAL

11,247

11,812

12,441

36,823 11,851

11,480

13,492

11,336

12,745

11,367

11,002

22,668

23,148

25,186

141,748

2012

35,774

35,502 11,421

182,023

ITHACA TOMPKINS REGIONAL AIRPORT JAN.

FEB.

2011 MAR. TOTAL

JAN.

FEB.

MAR. TOTAL

13,405 26,818

25,652

72,597

23,218

26,897 22,482

10,181 7,307 9,330

7,110

8,257 10,285

29,881

TOTAL

JAN.

2011 FEB. MAR.

9,115

TOTAL

DEPLANE

ENPLANE

68,599

148,775

35,500

DEPLANE

92,686

75,043

ENPLANE

JAN.

TOTAL

89,337

73,149

236,328

84,122

24,582 ENPLANEMENTS

TOTAL

452,437

2012 FEB. MAR.

7,771

MARCH

236,218

73,732

GREATER BINGHAMTON AIRPORT

7,696

FEB.

228,007

TOTAL

AIRPORT-PASSENGER TRAFFIC

70,812

71,002

JAN.

JAN.

224,430

2012

ELMIRA CORNING REGIONAL AIRPORT

May 11, 2012

10,054

9,591

27,640

10,567

10,236 9,370

7,703

56,699

53,292

23,811

7,781

7,372

8,658

TOTAL

12

17,361

18,921 20,417

20,852 16,480 15,960


financial quarterly/insurance

May 11, 2012

TOUR: Changes in public policy could play a

role in boosting economic prospects in Upstate Continued from page 9

of-heavy-equipment kind of city to being a city that’s got a high financial services sector that’s growing and is very robust.” Forbes says he thinks an economic turnaround is inevitable. “This is not going to last,” he says. “This is highly unusual in American history. And there is no reason why upstate New York should be depressed.” Changes in public policy could play a role in boosting economic prospects in Upstate, according to Forbes. Gov. Andrew Cuomo has shown some positive signs on that

front, he says. “I hope Cuomo follows through,” he says. “I say, ‘Pretend you’re a business person. What is standing in the way of doing well in New York, in upstate New York?’ [Fix that,] and you’ve got a pretty good policy.” The Northwestern Mutual Life Insurance Co. has $1.2 trillion of life-insurance protection in force. The company’s network office in DeWitt, called The Greater New York Group, hosted the tour stop in Syracuse. A total of 67 people work at the firm’s DeWitt office. q Contact Seltzer at rseltzer@cnybj.com

REPORT: People with jobs made up 62.6 percent of all uninsured residents Continued from page 10

unemployed because a majority of adults ages 18 to 64 worked — 70.2 percent of upstate New York adults had a full-time or part-time job. “There’s a segment of the population that I will call the working poor,” Vercillo says. “They work very, very hard. Sometimes it’s hard to afford health insurance.” People with jobs made up 62.6 percent of all uninsured residents. The report found 40.1 percent of uninsured residents held full-time jobs and 22.5 percent had part-time jobs. The unemployed accounted for 12.8 percent of those without insurance. Those not in the labor force made up the final 24.6 percent. Uninsured rates dropped as education increased, the Excellus report found. Residents without a high-school diploma were uninsured at a rate of 29.7 percent.

The rate slid to 17 percent for those with a high-school degree or GED. It descended to 13 percent for residents who had attended some college or earned an associate degree. And it was only 7.6 percent for residents with a bachelor’s degree or higher. Racial and ethnic minorities had higher uninsured rates, according to the report. Hispanic residents had an uninsured rate of 27.6 percent. Black residents’ rate was 21.9 percent. Residents falling into an “other” category that grouped together those with Asian, American Indian, Pacific Islander, and mixed racial and ethnic backgrounds had an uninsured rate of 18.3 percent. White, non-Hispanic residents were uninsured at a rate of 13 percent. q Contact Seltzer at rseltzer@cnybj.com

BANK: As much as possible, Generations tries to

staff its locations with people from is local markets Continued from page 7

New markets are on the drawing board for Generations, but Case declined to discuss specific locations for new branches. He adds that the bank’s leadership believes strongly in the importance of a physical presence in its communities. As much as possible, Generations tries to staff its locations with people from is local markets, Case says. “We go where the need is,” he says. Based in Seneca Falls, Generations Bank has total assets of $255.3 million and nine locations in Seneca Falls, Auburn, Waterloo, Geneva, Union Springs, and Phelps. Generations announced its name change from Seneca Falls Savings in April. In addition to the Seneca Falls Savings name, the bank used additional names in its other markets, such as the Bank of Phelps. Changing to a single name will allow the company to present a more cohesive identity, Case says.

The bank’s insurance business also changed names to Generations Agency from Royce & Rosenkrans. The bank was running into some confusion over the word “savings” in its name, Case adds. That sometimes led customers to think the bank only handled passbook savings accounts and residential mortgages. The expansion of its commercial business made it important for the bank’s name to communicate the broader focus, Case says. The board settled on the Generations name to display its commitment to serving its communities for the long haul. For the first quarter, net income available to common shareholders at the bank totaled $307,000, or 13 cents a share, down from $328,000, or 14 cents a share a year earlier. For 2011, net income available to common shareholders totaled about $1.3 million, or 57 cents a share, up from $1.1 million, or 50 cents a share, in 2010. q Contact Tampone at ktampone@cnybj.com

The Central New York Business Journal Call (800) 836-3539 today to subscribe

The Central New York Business Journal • 13


14

• The Central New York Business Journal

May 11, 2012

TOP RANKS: CONFERENCE & MEETING FACILITIES Ranked by Maximum Room Capacity Seated-Banquet

Rank

1. 2. 3. 4. 5. 6. 7. 8. . 10. . 12. 13. . 15. 16. 17. . . 20.

Name Address Phone Website Broome County Veterans Memorial Arena 1 Stuart St. Binghamton, NY 13901 (607) 778-1528 www.broomearena.com War Memorial at Oncenter 800 S. State St. Syracuse, NY 13202 (315) 435-8000 www.oncenter.org Nicholas J. Pirro Convention Center at Oncenter 800 S. State St. Syracuse, NY 13202 (315) 435-8000 www.oncenter.org SRC Arena and Events Center 4585 W. Seneca Turnpike Syracuse, NY 13215 (315) 498-6050 www.srcarena.com Broome County Forum Theatre 236 Washington St. Binghamton, NY 13901 (607) 778-1528 www.broomeforum.com Turning Stone Resort Casino 5218 Patrick Road Verona, NY 13478 (315) 361-7711 www.turningstone.com Holiday Inn Syracuse/Liverpool 441 Electronics Parkway Liverpool, NY 13088 (315) 457-1122 www.staysyracuse.com Temple Adath Yeshurun 450 Kimber Road Syracuse, NY 13224 (315) 445-0002 www.adath.org Utica Memorial Auditorium 400 Oriskany St. W. Utica, NY 13502 (315) 738-0164 www.uticaaud.org Binghamton Riverwalk Hotel & Conference Center 1 225 Water St. Binghamton, NY 13901 (607) 722-7575 www.theriverwalkhotel.com Holiday Inn - Auburn 75 North St. Auburn, NY 13021 (315) 253-4531 www.hiauburn.com The Beeches of Rome, Inc. 7900 Turin Road, Route 26N Rome, NY 13440 (315) 336-1700 www.thebeeches.com Drumlins Country Club 800 Nottingham Road Syracuse, NY 13224 (315) 446-4555 www.drumlins.com Hart's Hill Inn 135 Clinton St. Whitesboro, NY 13492 (315) 736-3011 www.hartshillinn.com Holiday Inn Arena - Binghamton 2-8 Hawley St. Binghamton, NY 13901 (607) 722-1212 www.holidayinnbinghamton.com Best Western Plus 6555 Old Collamer Road South Syracuse, NY 13057 (315) 437-2761 www.syrhotel.com/best-western Carnegie Conference Center @ Driver's Village 5885 E. Circle Drive Cicero, NY 13039 (315) 451-1803 www.carnegiecatering.com Lake Ontario Event & Conference Center & Hotel 26 E. 1st St. Oswego, NY 13126 (315) 343-5121 Owego Treadway Inn & Suites 1100 State Route 17C Owego, NY 13827 (607) 687-4500 www.owegotreadway.com Daniele's Banquet Specialists 8360 Seneca Turnpike New Hartford, NY 13413 (315) 733-8358 www.danielesonline.com

No. of Mtg. Rooms — Max. Exhibit Area (Sq. Ft.) 2 — 30,000

Max. Room Capacity Seated Banquet 4,500

Max. Room Capacity Seated Theater 7,000

3,520

7,100

2 — 44,000

complete A/V inventory, tables, chairs, pipe & drape, lighting, sound equipment, décor, ribbon lights, new LED scoreboard

0

ice-arena capability, Ticketmaster box office, versatile meeting space

3,500

5,610

12 — 65,250

WiFi, complete A/V inventory, tables, chairs, pipe and drape, lighting, sound equipment, décor

0

wide variety of meeting and convention options; attached 1,000-space garage

2,000

6,500

4 — 60,000

all meeting & A/V equipment on site

300

overnight accommodations available in the summer months only

Stephen Hyman, General Manager Sara Marsh, Sales Manager

2011

1,500

1,500

2 — 900

chairs, tables, sound system, podium, easels, screen

0

performing-arts theatre

Anthony J. Capozzi, Manager

1973

1,400

2,060

20 — 30,000

tables, chairs, drapes, lighting, decor, A/V equipment, sound equipment

711

Ray Halbritter, CEO Peter Carmen, COO Karen Ramirez, VP Hospitality Ed Allmann, VP Sales & Marketing

1993

900

1,000

18 — 30,000

6' tables, 5' rounds, 6' rounds, 1,400 banquet chairs, 72 ft. of staging area, linen, skirting, A/V subcontracted (on-site)

195

casino, bingo hall, five golf courses, swimming pools, day spa, fitness center, indoor golf training center, outdoor tennis courts, racquetball courts free wireless Internet in meeting rooms, indoor heated pool, fitness center, connected to a 123 Suites Staybridge Suites Hotel

James Gallagher, General Manager Roseann Kuti, Director of Sales & Marketing

1962

750

1,400

4 — 11,700

A/V equipment, large drop-down screen, projector

0

-

Barbara S. Simon, Executive Director

1970

750

5,000

3 — 22,000

NA

NA

NA

Will Berkheiser, General Manager

1959

650

1,100

15 — 7,350

audio-visual equipment

205

River Bistro Restaurant & Lounge, Riverwalk Athletic Club

Bud Nolan, General Manager Patty Weist, Director of Sales

2010

650

750

8 — 3,000

165

1980

675

10 — 625

McMurphy's Irish Pub, walking distance to the new Finger Lakes Musical Theatre Festival, downtown Auburn, event planning extended-stay suites, pool, jogging, three restaurants

Scott Bullock, General Manager Mary C. Moore, Director of Sales

625

LCD projector, LCD high-definition monitor with DVD/VHS combo deck, P/A system, microphones, polycom conference telephone, flipcharts, easels, whiteboards overheads, screens, PA systems, DVD players, LCD projectors, easels and more

Orlando J. Destito, Owner & General Manager Dawn Hediger, Banquet Manager

1908

600

900

4 — 9,400

podium and microphone

0

two 18-hole golf courses, 7 indoor/ 2 outdoor tennis courts, Olympic-size pool

Reenie Costello, Banquet and Event Sales Manager

1926

600

750

4 — 7,500

all A/V equipment available

0

facility includes ballroom, patio, foyer, dining room, and gardens

Scott David Lichorowic, President & Owner Barbara Lichorowic, Owner

1963

550

800

9 — 6,000

complete A/V inventory

237

restaurant & lounge, indoor pool, fitness center

Robert Greene, General Manager William Stacy, Director of Sales

1968

545

300

6 — 7,400

all A/V equipment is outsourced to satisfy all possible needs as well as provide the latest technology

185

Roger Doty, General Manager Kristin Nagy, Director of Sales

2011

450

600

6 — 12,000

A/V equipment, Mcall meeting rooms equipped with wireless Internet access

0

full-service on-site catering, large atrium for ceremonies and banquets, Collamer Grille Restaurant, Lucy's Lounge, business center outside catering available

Bill McClenthan, Banquet Supervisor

2005

450

550

5 — 9,200

LCD projectors and screens, wireless microphones, podiums, white boards

203

additional waterfront banquet facility, professional sales & service staff, shuttle service

George S. Broadwell, Director of Sales

1987

450

600

9 — 9,300

LCD projector, overheads, slide projector, screens, microphones, podiums, projection tables

92

nearby swimming pool, fitness center, walking distance to park

Kathryn Potter, CEO James VonEsch, General Manager Laura B. Costello, Director of Sales

1969

425

500

3 — 15,000

A/V, screens, LCD projector, PA system

0

-

Jeffery E. Daniels, General Manager

1977

Equipment Available chairs, tables, sound system, podium, easels

No. of Sleeping Rooms 0

76

Additional Services/ Recreational Facilities ice-skating rink

Key Executives Anthony J. Capozzi, Arena Manager

Terri Toennies, President & CEO Sean O'Key, Director of Event Sales and Services Michael Spaulding, Director of Ticketing & Event Bookings Charlene Hart, Associate Director of Event Sales Terri Toennies, President & CEO Sean O'Key, Director of Event Sales and Services Michael Spaulding, Director Ticketing & Event Bookings

Information was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. 1

Converting to a DoubleTree Hotel by Hilton by the end of the year.

Year Estab. 1973

1951

1992

RESEARCH BY NICOLE COLLINS 05/12 ncollins@cnybj.com


The Central New York Business Journal • 15

May 11, 2012

in a REFRESH jacuzzi

YOURSELF suite

95 Two-Room KingKing Suite with $95 Two-Room SuiteLarge withJacuzzi 65 One-Room King Suite with Small Jacuzzi Large Jacuzzi $ 45 for a Standard Queen $65 One-Room King Suite with Complimentary breakfast & free high-speed internet. Small Jacuzzi Sun-Thurs Only. Add $15 for weekends. Special expires 5/10/12. $45 for a Standard Queen Ramada Limited is located off Carrier Circle. Exit 35 off I-90. Please call (315) 463-0202 for reservations or come-in to redeem offer. Complimentary breakfast & sls 3;free 4/29/12, Ed. 1, #005172, 2nd proof internet. high-speed $ $

19285

Banquets & Events

Colors shown may not match publication colors.

Sun-Thurs Only. Add $15 for weekends. Special expires 5/30/12. Not valid for graduation weekend.

Ramada Limited is located off Carrier Circle. Exit 35 off I-90. Please call (315) 463-0202 for reservations or come-in to redeem offer.

Ask us About: Corporate Meetings  Weddings  Birthday Parties  Baby Showers 

An American Master at the Everson.

Family Gatherings 

Have your encounter with Henri before he's gone, May 13.

everson.org

Religious Gatherings  400 7th North St. Liverpool, NY 13088 (315) 451-1511 www.themaplewoodinn.com

WHAT COULD BE MORE REWARDING THAN A SUCCESSFUL MEETING? T R IP L E POINTS

At Crowne Plaza®, everything we do is built around making your meeting a success, from our Two-Hour Response Guarantee to assigning you a dedicated Crowne Meetings Director. And right now, we’re making meetings even more rewarding, with Triple Points—three times the points from Priority Club® Rewards. All you have to do is book a qualified meeting before October 31, 2012 and hold it before December 30, 2012.

To submit an RFP or book a meeting at any of our Crowne Plaza hotels, go to CrownePlaza.com/MeetingsTriple. Or call 1-800-MEETING. CROWNEPLAZA.COM/MEETINGSTRIPLE Terms and Conditions Meeting Planner and Referring Third Party must be members of Priority Club® Meeting Rewards prior to booking. Offer available at participating Crowne Plaza® Hotels & Resorts properties in the U.S., Canada, Mexico and Latin America for a qualified meeting. Qualified meeting must be booked by October 31, 2012 and conducted by December 30, 2012. A qualified meeting or group stay requires ten or more paid guest rooms for at least one peak night of the event and must include qualified catering/banqueting events. Subject to availability and blackout dates. Cannot be combined with any other offer. Not valid with group bookings affiliated with city-wide conventions. Planner must request bonus point’s offer and it must be recorded in the hotel sales contract at time of booking. Priority Club is a registered trademark of Six Continents Hotels, Inc. ©2012 InterContinental Hotels Group. All rights reserved. Most hotels are independently owned and/or operated.

www.cpsyracuse.com


16

• The Central New York Business Journal

May 11, 2012

TOP RANKS: CONFERENCE & MEETING FACILITIES Ranked by Maximum Room Capacity Seated-Banquet

Rank

21.

Name Address Phone Website DoubleTree by Hilton Hotel Syracuse 6301 State Route 298 E. East Syracuse, NY 13057 (315) 432-0200 www.syracuse.doubletree.com

Max. Room Capacity Seated Banquet 400

Max. Room Capacity Seated Theater 500

No. of Mtg. Rooms — Max. Exhibit Area (Sq. Ft.) 14 — 12,000

Equipment Available in-house audio-visual department; full line of meeting equipment

No. of Sleeping Additional Services/ Rooms Recreational Facilities 250 indoor/outdoor pools, new lobby, new fitness center

Key Executives Bill Williams, Director of SM Linda Benn, Director of Catering

Year Estab. 1977

.

Hathaway House 3976 Route 41 McGraw, NY 13101 (607) 836-6006 www.hathawayhousecny.com

400

300

3 — 4,800

overhead projector, podium, tables, chairs, wireless PA, risers, easels, TV/ VCR, Internet access, Power Point

0

off-premise golf, skiing, & wine tours

Anthony Tinelli, President Gina Tinelli, VP/ Chef

1971

.

Radisson Hotel Utica 200 Genesee St. Utica, NY 13502 (315) 797-8010 www.radisson.com/uticany

400

550

7 — 4,600

screens, television, DVD player, computer/ laptop, LCD projector, copy, fax, postage/ mailing services

162

indoor pool, whirlpool, business center, computer WiFi in all rooms and meeting space, restaurant, lounge

David Cocomazzi, General Manager Philip Torraco, Director of Food & Beverage

1980

.

Tioga Downs Gaming, Racing, and Entertainment 2384 W. River Road Nichols, NY 13812 (607) 699-3900 www.tiogadowns.com

400

600

3 — 6,638

projector, screen, podium, stage system, cordless microphone

0

gaming entertainment, live entertainment, racing

Thomas Osiecki, President & General Manager, Tioga Downs & Vernon Downs

2006

25.

Clarion University Hotel One Sheraton Drive Ithaca, NY 14850 (607) 257-2000 www.clarionhotel.com

354

447

11 — 4,250

overhead, screen, high-speed Internet access, podium, microphone

106

large indoor pool, fitness room, in-room refrigerators and safes, near shopping center & movie theaters

Daniel Homik, Owner Stan Witco, General Manager Deanna Lockwood, Director of Sales

1968

26.

Bayshore 104 Bayshore Drive Oswego, NY 13126 (315) 343-5121 www.bayshoregrove.com

350

420

1 — 5,800

LCD projector, screen, podium, wireless microphones, easels

0

lake-front banquet facility, shuttle service, hotel packages, corporate events, weddings, clam bakes

George S. Broadwell, Director of Special Events

1968

.

Holiday Inn Waterloo-Seneca Falls 2468 State Route 414 Waterloo, NY 13165 (315) 539-5011 www.hiwaterloo.com

350

450

7 — 9,000

state-of-the-art audio and visual equipment

147

fitness center, seasonal heated outdoor pool, tennis courts, sauna, located in the Finger Lakes region and four miles from the NYS Thruway

Melissa Oliver, Director of Sales and Marketing

1975

.

Vernon Downs Casino and Hotel 4229 Stuhlman Road Vernon, NY 13476 (315) 829-3400 www.vernondowns.com

350

500

6 — 10,000

board room and meeting facilities, A/V equipment

155

harness racing, video gaming, indoor pool and hot tub, fitness center, restaurants, gift shop

Thomas Osiecki, President & GM, Tioga Downs & Vernon Downs Scott Freeman, VP & General Manager Ursula Maunder, Director of Marketing Amy Preble, Senior Sales and Catering Manager

1994

29.

Brothers 2 2901 Watson Blvd. Endwell, NY 13760 (607) 785-5550 www.brothers2.com

325

0

5 — 7,000

WiFi, projector, screen, sound systems

0

NA

Kris Gallagher, Banquet Manager

1970

30.

Sheraton Syracuse University Hotel & Conference Center 801 University Ave. Syracuse, NY 13210 (315) 475-3000 www.sheratonsyracuse.com

320

416

10 — 10,000

all meeting & A/V equipment on site

235

club-level accommodations available, professional conference-planning staff on site, full-service restaurant and lounge on site

David H. Heymann, General Manager Richard F. Duda, Director of Marketing Jerry Keohane, Director of Sales

1985

Traditions at the Glen Resort & Conference Center 4101 Watson Blvd. Johnson City, NY 13790 (607) 797-2381 http://traditionsresort.com/

320

380

6 — 6,560

outside valley view tent (events up to 200), glen view tent (events up to 400), pavilion (events up to 150)

41

18-hole championship golf course, full-service spa and salt sanctuary, on-site dining, hiking trails

Candace Jones, General Manager Chris Breski, Corporate & Catering Sales Manager Kristen Fata, Rooms Division Sales Manager

2004

Celebrations Banquet Facility & Catering 2331 Slaterville Road Ithaca, NY 14850 (607) 539-7416 www.celebrationsbanquetfacility.com

300

300

1 — 5,000

new sound and video equipment built in

0

indoor and outdoor facilities, premium catering, in-house DJ & photography available

John Morse, Owner Laurie Morse, Owner

1999

.

Daniele's at Valley View 620 Memorial Parkway Utica, NY 13501 (315) 733-8358 www.danielesonline.com

300

400

3 — 7,000

A/V, screens, LCD projector, PA system

0

golf course

Jeffery E. Daniels, General Manager

2007

.

Hope Lake Lodge and Conference Center 2000 Route 392 Cortland, NY 13045 (800) 955-2754 www.greekpeakmtnresort.com

300

400

9 — 10,672

overhead projector, screen, wireless Internet

150

team building, skiing, snow tubing, swimming, fishing, zip lines, ropes courses, mountain coaster, mountain biking, golf

Kevin Morrin, VP of Sales and Marketing

2009

.

Mohawk Valley Community College 1101 Sherman Drive Utica, NY 13501 (315) 731-5720 www.mvcc.edu

300

450

10 — 3,500

conference and distance-learning technology, projectors, audio-visual equipment

120

athletic complex with gymnasium, field house, pool, racquetball, weight room, tennis courts, track

Bill Dustin, Events Administrator Jim Suriano, Catering/Banquet Manager Katie Ksiadz, Events Coordinator

1946

.

Mulroy Civic Center at Oncenter 800 S. State St. Syracuse, NY 13202 (315) 435-8000 www.oncenter.org

300

2,117

5 — 2,400

complete A/V inventory, tables, chairs, pipe and drape, lighting, sound equipment, and décor

0

Crouse-Hinds Theater seats 2,117; Carrier Theater seats 463; BeVard Studio seats 162; spacious lobby areas; convenient location

Terri Toennies, President & CEO Sean O'Key, Director of Event Sales and Services Michael Spaulding, Director of Ticketing & Event Bookings

1975

.

Onondaga Community College Conference Facilities 4585 W. Seneca Turnpike Syracuse, NY 13215 (315) 498-6050 www.sunyocc.edu

300

330

30 — 13,983

all meeting & A/V equipment on site

300

overnight accommodations available in the summer months only

Sara Marsh, Sales Manager

2011

.

The Lodge at Welch Allyn-Center of Training & Development 4355 State Street Road Skaneateles Falls, NY 13153 (315) 291-3700 www.thelodge.welchallyn.com

300

233

8 — 25,000

LCD projector/screen, document camera, VCR, high-speed Internet/ Intranet connections, wireless

0

day-meeting packages, deck/ terrace overlooking a pond & countryside, stone fireplace lounge area, private social events

William Ballard, General Manager Bridgette Dautrich, Sales Manager Linda Kehoe, Corporate Event Coordinator

1999

.

Traditions at the Links 5900 North Burdick St. East Syracuse, NY 13057 (315) 656-5298 www.traditionsatthelinks.com

300

500

3 — 3,000

screen, podium, microphone

0

lunch, dinner, cocktail parties

Frederick E. Kraus, Owner

1989

. 32.

Information was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. Central New York includes Broome, Cayuga, Chemung, Chenango, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, Seneca, St. Lawrence, Tioga, and Tompkins counties.

RESEARCH BY NICOLE COLLINS 05/12 ncollins@cnybj.com


The Central New York Business Journal • 17

May 11, 2012

PANEL: Lombardo: I think what will affect the markets is what does not happen before the U.S. election Continued from page 7

choppy, and I believe this will continue. So, for the remainder of this year, I would expect slow but generally positive levels of economic growth in the U.S. The good news is that this backdrop should support continued outperformance for equities and other risk-on assets, such as high-yield bonds. From a corporate standpoint, we’ve just gone through the firstquarter earnings reports and about 73 percent of companies reporting in the S&P 500 index beat expectations. So, with the combination of historically low interest rates, strong corporate performance, and reasonable valuations, stocks to me would be the asset class of choice for the remainder of 2012. Also, there’s an old Wall Street adage that says, “sell in May and go away.” The last two years, this strategy of selling equities and other risk-on assets in the spring [and buying them back in the fall] worked beautifully and I hear clients asking if they should adopt that strategy in 2012. As a natural contrarian, when I hear a lot of investors talking about a strategy that they think is a slam dunk, I get a little cautious. In fact, I would tend to believe that this year, most of the returns will be frontend loaded in the first nine months of the year and we may actually struggle somewhat in the fourth quarter. Lemire: In the best of times, predicting the future is a difficult task. Few would argue that these are the best of times and thus any view of the future can be overcome quickly by current events. The past two years have seen economies as well as equity markets start the year strongly, only to give up those gains as the hope for growth failed to materialize. This year has [so far] repeated the pattern without the “de-railing” shock that has occurred in years past. However, risks are lurking as electoral politics in Europe introduce more uncertainty and China continues to grapple with a transition from an investment-driven economy toward a more consumption-driven economy. During much of this year, the U.S. economy has been a beacon of growth and strength, at least comparatively. We would not classify the U.S. economy as producing “high quality” growth and thus we do not think this year’s progress is sustainable heading into the balance of the year. At Strategic, we believe that equity markets have more downside risk given their strong start to the year. Increased volatility could occur if the underlying weaknesses that we are concerned about make it into the headlines. However, this nearer-term view does not diminish our longer-term preference for stocks over bonds. Lombardo: While we are long-term investors, we also think there are many reasons the global equity markets have seen their best days of the year already. First, markets made a dramatic run from October to March. They are no longer inexpensive based on the structural economic headwinds they face. Some of those would include the slowing pace of earnings growth in the U.S. We believe that profit margins have likely peaked for this economic cycle. Supporting that conclusion would be that income growth remains moribund — the fact that consumers have significantly drawn down their savings to support their income levels because their incomes have not been keeping up with inflation. And of course, job growth remains tepid and uneven. I would also add that productivity growth is the weakest it has been in more than 15 years. None of this is a recipe for strong earnings growth going forward and equity performance. Schmidt: Domestically, I see markets con-

tinuing to rise, although I am not convinced that it is warranted. The equity markets are influenced heavily by the emotion of the investors and for some reason, there are enough buyers right now to move markets forward. Globally, I believe the euro hangs in the balance and it would surprise me if it is able to weather this storm and remain intact. The impacts of defaults in Europe will be global. How that directly impacts the U.S. markets remains uncertain. Business Journal: How will electionyear politics affect the markets and the economy? Burns: Last year’s political gridlock included not only the debt-ceiling debate in July but also the Standard & Poor’s credit downgrade of the U.S. in August. This really frustrated investors and wreaked havoc on the stock market. This year, I tend to think politics will work in the market’s favor primarily because, as with any administration, the Obama team is going to do everything it can to grease the skids to appear to make the economy and stock market look as healthy as possible. There is also no major legislation on tap until after the election that would spook investors. And finally, Ben Bernanke and the Federal Reserve will continue to be accommodative in their policies, which is bullish for stocks. Lemire: Predicting financial markets is a walk in the park relative to estimating the effect of an election year on markets and the economy. In short, there is much that politicians can and should do for the economy, but little that they actually will do. Our political discourse, as a nation, has grown increasingly partisan and it only looks to get more vitriolic with the White House and both houses of Congress up for grabs. We have survived the primary season without any significant damage, and now all eyes can focus on the conventions and this fall’s general election. As a general rule, markets do not like uncertainty, with the consequence being increased volatility. If the election battle goes back and forth heading into the fall, it may introduce an increased level of volatility as the market discounts likely policy implications of the candidates and parties. If a clear leader emerges in the presidential contest, then the markets may shift their focus to the Senate and House elections in an attempt to calculate odds on united or divided government. At the end of the day, when it comes to politics the only certainty is uncertainty. Lombardo: I think what will affect the markets is what does not happen before the U.S. election. The U.S. faces a fiscal cliff of 3 to 3.5 percent of GDP and that’s due to the scheduled expiration at the end of the year of the Bush tax cuts, and the employee payroll tax break. There are also automatic budget cuts from last year’s debt-limit agreement that are scheduled to go into effect in January. We believe an agreement will be reached to reduce the fiscal headwinds in 2013 but it’s likely to come after the election. And that gives a very dysfunctional Washington a very short window in which to act, raising the risk that they won’t act or the agreement reached is sub-optimal or possibly has unintended consequences of its own. In short, we say there will be fiscal headwinds next year, though less than currently scheduled, and that will create a headwind for the economy in 2013. Schmidt: Politics in general have had a real impact on the markets over the last year, dating back to the inability of our elected officials to address adequately our borrowing. We borrow the equivalent of 25 percent of the world’s GDP. The fact that we are heading into an election period will likely negatively affect the markets in my opinion. I believe it is

increasingly more evident that neither of the candidates is willing to address the growing debt issue that we face and the markets are realizing that the lessons from Greece are not sinking in at home. While I do not believe we are at the stage Greece is, we certainly need to pay attention to our addiction to borrowing. Business Journal: Provide specific recommendations for investments that clients should be making right now. Burns: Last quarter, I recommended Cummins Inc. (ticker: CMI) and they just reported earnings May 1. I still like the stock as their first quarter profits were up 43 percent, sales were up 16 percent, and they beat analysts’ expectations. So, I’m still a buyer. On the growth side, a company we have a position is Boston Beer Co. Inc. (ticker: SAM). It has a market cap of about $1.5 billion. The company has a strong balance sheet with minimal debt and high levels of cash. But, the most impressive thing about Boston Beer is both the loyalty of its customers as well as its innovative new beers. They should be able to easily generate earnings power of 15 percent or more over the next few years and I also would not be surprised if Boston Beer became the target of a takeover. On the dividend side, I like Occidental Petroleum Corp (ticker: OXY). When I am buying a stock for total return, one of the most important qualities I look for in a company is a history of above-average dividend growth. In fact, as a general rule, I would rather buy a company that has stated its intention to raise its dividend year after year rather than buy a company whose dividend may be high currently but the business doesn’t have the earnings power or discipline to generously increase its payout. Occidental Petroleum clearly fits in the first category. Occidental, which is based in Los Angeles, has a market cap of $85 billion, with a very strong balance sheet that will allow for significant dividend increases over the next few years. As an exploration and production company it offers tremendous geographic diversity. Occidental has both low risk, on-shore production growth opportunities in California, the Permian Basin in Texas, as well as higher risk, higher-reward projects in the Middle East and elsewhere. The current yield is 2.3 percent, but the company has raised its dividend on average by 16 percent per year over the last 10 years. In the last five years, Occidental has doubled it. At its current price in the high 80s, I am confident we will make money on the common stock in the coming years. Lemire: We believe that any investment decisions need to be assessed from a portfolio perspective. Given the risks articulated concerning global growth and the U.S. election, we are focused on capital preservation rather than capital growth, because sometimes the return of your principal is more important than the return on your principal. On the fixed-income portions of client portfolios, we prefer shorter-term bonds while trying to pick up slightly more income from corporate bonds rather than Treasuries. While an emphasis on high quality is a central tenet in our stock-picking work, we are particularly sensitive to quality given the broader economic and political risks going forward. Given these risks, a utility like Wisconsin Energy Corp (ticker: WEC) is worth investigating. As a regulated utility, it offers the potential for consistent earnings growth and a solid history of increasing dividends. Disclosure: The above should not be considered investment advice. Strategic owns WEC in at least one of our equity strategies, but does not make a market in WEC securities. The reader should not assume that an

investment in this security will be profitable. Lombardo: The first thing we would say is try to build long-term portfolios while being mindful of near-term risks at this point. And, while clients should remain diversified, when they do take risk they should seek return higher up the capital structure. We’d be a little underweight in most portfiolos to equities while seeking to add return thorough exposure in emerging-markets bonds, specifically the bonds of emerging sovereign governments (example: Brazil). We also would caution people to diversify their exposure between emerging-market bonds denominated in the U.S. dollar and those denominated in the local currency. We would also recommend taking some risk in high-yield bonds, specifically utilizing a fund manager that will go both long and short due to the asymmetric risk associated with bond investment. We want to remain diversified but tilt the risk toward bonds instead of stocks. Schmidt: As always, this is a critical juncture to review your own risk tolerance. If you maintain an equity position, and that may or may not be appropriate given your objectives, you will experience volatility; that much I can assure you. However, that is the nature of the equity markets and always has been. If you can no longer sleep at night because of that volatility, it is likely time to re-evaluate your portfolio and make some changes. I would be cautious on concentrated positions, be it financials or any other sector. Build a dividend-focused strategy that finds yield in other sectors, both domestically and globally. Be sensitive to the relationship between bond mutual funds’ NAV and yield. When interest rates begin to rise, bond funds will be negatively impacted. If you are going to hold bond positions, consider buying individual bond positions, but be sure to diversify positions (i.e. a bunch of bonds backed by New York State isn’t diversified.). The challenge I believe now and going forward is to identify non-correlated strategies. If you examine the correlation of the major asset classes to the S&P 500 over the last 10 years, they are beginning to mirror the S&P itself. This makes diversification more difficult. You used to diversify with stocks and bonds until that did not work, then you began using mutual funds for added diversification, but that too has now presented issues primarily due to the liquidity structure of such investments. Seek out illiquid strategies like hedge funds to reduce correlation and standard deviation. Business Journal: What do you see as the greatest risks investors need to be aware of and seek to avoid in the coming months? Burns: The greatest risk that investors need to be aware of would be rising interest rates that could lead to a forceful rotation out of bonds, especially longer duration bonds, and into other asset classes such as stocks. For investors that have sought safety in bonds and bond funds, they could be in for a very rude awakening. I am not suggesting that investors should sell all their bonds or bond funds. But, the United States has gone through a 30-year downtrend in interest rates. When interest rates do begin to climb, and they will, many individual investors who thought of their bond and bond funds as stable and safe may find out otherwise. Along these lines, Warren Buffet in his recent letter to shareholders warned the investment community that just because an investment has low volatility doesn’t mean it does not carry significant risks. And, bond investors have witnessed the best of both See panel, page 23


18

• The Central New York Business Journal

May 11, 2012

ANNESE: Firm’s managed services generated revenue of $740,000 in 2011 vices generated revenue of $740,000 in 2011. The company expects to double that works for schools, government agencies, total in the next year or two, says Christina and commercial businesses in New York Nordquist, a company spokeswoman. Herkimer–based Annese generated and New England. The company launched its first managed service, which involves total revenue of $62 million in 2011, up remote monitoring of clients’ networks from $53 million in 2010. Many technology resellers like Annese in 2007. Since then, the company added two have been adding managed services in remore, involving energy management and cent years, Nordquist says. They’re ideal collaboration and video. A fourth managed for small and medium-sized businesses from the inside out. Add our ex pert, that want to take advantage of advanced service is launching this month involving technologies, but don’t have the financial wireless technology and mobility. customer and resources to manage them on Allpersonalized together, Annese’s managed service ser- or staff Continued from page 1

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their own. Most of Annese’s clients in the past have been larger companies, says Jamie Aiello, director of operations and business development. Managed services will allow the company to tap into the small-business market in a way it couldn’t previously. Growing managed services will be a top initiative for Annese over the next three to five years, Aiello adds. The firm expects to add employees as a result, although Aiello declined to discuss specifics. Some of the hiring could come at Annese’s office at 100 Elwood Davis Rd.

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in Salina, where the help desk for its managed services is located. The help desk has five full-time staff members currently. Companywide, Annese employs more than 100 people and has offices in Clifton Park, Binghamton, Orchard Park, Brewster, Warwick, Pittsford, and Rhode Island, in addition to its headquarters on Route 5 West in Herkimer. The company employed about 80 people in 2009. The firm’s reselling business is not going away, Nordquist notes. The expectation is to grow both sides of the business together, she says. Two of the firm’s recent hires have been sales reps dedicated exclusively to managed services. Customers are looking for managed services because they require a lower initial investment, but bring cutting-edge capabilities to the table, Nordquist says. Annese’s collaboration and video service, for example, allows for video conferencing, Web conferencing, management of video archives, and webcasting of live events. Its energy-management service allows Annese to control power to devices like projectors, phones, plasma screens, and computers. The company works with clients to learn their daily routines and the times they need devices on or when they can be shut down to save money. Outsourcing routine information-technology tasks also allows companies more time to focus on other tasks like strategic planning, Nordquist says. Annese’s markets include K-12 schools, colleges and universities, businesses, state and local government entities, and health care organizations. Annese was founded in 1970. The firm’s founder, Frank Annese, retired at the end of 2008. Ray Apy, who had been with Annese since 1998, took over as president and CEO. q Contact Tampone at ktampone@cnybj.com

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CLAY — Dealers Supply North, an Ohio– based flooring-distribution company, recently leased 41,171 square feet of warehouse space at the property located at 4530 Steelway Blvd. South in the town of Clay. Michael Kalet, of Cushman & Wakefield Pyramid Brokerage Company, in association with Cushman & Wakefield Continental Realty Ltd., brokered this lease transaction. Financial arrangements were not disclosed. q


The Central New York Business Journal • 19

May 11, 2012

PROGRAM: The accelerator will be housed in 14,000 square feet at the Onondaga Tower Continued from page 1

more personalized and effective through home exercise programs. Tivity of New York City is a social network for people looking to find, schedule, and share active lifestyle activities. Streamspec of Syracuse and New York City is an image-based Internet advertising company. CanVita of Denver and New York City provides visual and evolving resumes for the social Web. YouGift of New York City is a platform for sending greetings and gift cards via social networks like Facebook and Twitter.

AIDS: Organization

will not leave its Syracuse headquarters

StartFast is part of the Techstars Network. The original TechStars program began in Boulder, Colo. in 2007 and has since expanded to Boston and two sites in New York City. The Techstars Network includes more than 30 affiliated accelerators around the world. StartFast is focused on software and Internet firms and those developing mobile apps. For more information, visit http:// startfast.net. The nine teams chosen for the program have 20 founders. Some of the companies will also bring other team members so at any time, StartFast will have more than 25 people working with the program.

The accelerator will be housed in 14,000 square feet at the Onondaga Tower, the former HSBC building, on East Jefferson Street in downtown Syracuse. The program will occupy the building’s entire third floor. Program participants will spend their first few weeks in Syracuse meeting with some of StartFast’s 80 mentors. Each team will likely develop closer relationships with two or three mentors who will help them move their companies forward. StartFast’s two managing directors, Chuck Stormon and Nasir Ali, will provide regular coaching as well. The 80 mentors include some world-class startup experts, Ali says, including Brad Feld.

Feld is a nationally known venture capitalist and co-founder of the TechStars program. His visit to upstate New York last year helped spark the formation of a local affiliate, Ali says. Each company chosen for the program receives $18,000 in seed funding. StartFast investors receive a 6 percent stake in exchange. The companies also get access to a number of in-kind contributions from national sponsors like Google and Rackspace through the Techstars Network. The Seed Capital Fund of CNY (SCF) is providing 40 percent of StartFast’s $2 million See program, page 20

NOMINATE TODAY! Deadline is May 11, 2012

Continued from page 3

ditional patients to expect because of the Health Home model. AIDS Community Resources currently has a caseload of about 250 clients at any one time, although some of its case-management clients are not on Medicaid, he says. New York State has essentially guaranteed the organization will have a minimum of 229 Medicaid clients for about two years, Crinnin says. But it could receive additional clients any time after July 1, he says. Crinnin could not provide any estimates for the number of new patients AIDS Community Resources will receive. He has been in touch with organizations Downstate, where the Health Homes initiative was implemented in January, but still is not sure exactly what to expect. “The people in the first phase, they haven’t gotten contracts,” he says. “And they’ve gotten no Health Home assignments. I’m thinking probably we’re not going to get any [new] clients assigned to us until the fall.” If AIDS Community Resources does receive new clients, it will probably have to hire more staff members and lease additional facility space. It currently employs 78 people and has locations in Syracuse, Utica, Watertown, Auburn, Oswego, and Canton. The not-for-profit leases a 9,000-square-foot headquarters at 627 W. Genesee St. The organization will not leave its Syracuse headquarters if it needs more space, Crinnin says. Instead, it will search for a location to augment its current facility. AIDS Community Resources does not know what its Medicaid reimbursement rate will be under the new Health Homes program. That’s a big question mark for the organization — Medicaid provides nearly a quarter of its revenue. The not-for-profit’s revenue totaled $3.8 million in its last fiscal year, which ended June 30, 2011. Its budgeted revenue for the current fiscal year ending in June 2012 is $4.4 million. Crinnin says it’s difficult to plan ahead for Health Homes with so much uncertainty. But he’s trying to position AIDS Community Resources to act quickly when more information is available. “I think people are still kind of scrambling to catch up,” he says. “I’ve never been in a situation where it’s so volatile.” q Contact Seltzer at rseltzer@cnybj.com

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• The Central New York Business Journal

May 11, 2012

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Center NY Business Journal 6x6

for at least 30 percent to remain in Syracuse Continued from page 19

in funding. The rest is coming from private investors. The initial funding round will allow StartFast to run for four years. Organizers have raised 80 percent of the funding so far. And while not all of the participating companies have local ties, the goal is for at least 30 percent to remain in Syracuse. In Boulder, where the original TechStars began, about half the companies stay put after completing the program, Ali says. Ali is also CEO of Upstate Venture Connect (UVC), a founding sponsor of StartFast. UVC is a nonprofit group aimed at building entrepreneurial activity in upstate New York. UVC’s founder and chairman, Martin Babinec, helped bring Feld to Upstate in February 2011. Stormon has more than 22 years of experience as a senior corporate executive and entrepreneur across the telecommunications, Internet, software, semiconductor, defense and electric utility industries. He co-founded and was president and CEO at Coherent Networks, Inc. of Syracuse, which was eventually sold to a company in Buffalo. He was also vice president of strategy and business development for Tekelec, a $550 million telecommunications-equipment manufacturer. He joined that company after it acquired Steleus, which Stormon co-founded in 2001.  Contact Tampone at ktampone@cnybj.com

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The Central New York Business Journal • 21

May 11, 2012

Business Journal C e n t r a l

N e w

Y o r k

Volume 26, No. 19 - May 11, 2012 NEWS Editor-in-Chief........................Adam Rombel arombel@cnybj.com Assistant Editor..............Maria J. Carbonaro mcarbonaro@cnybj.com Staff Writers........................... Kevin Tampone (Online Editor) ktampone@cnybj.com ..............................................................Rick Seltzer rseltzer@cnybj.com ............................................................Traci DeLore tgregory@cnybj.com Production Manager.......................Erin Zehr ewebb@cnybj.com Research Manager.................. Nicole Collins ncollins@cnybj.com SALES Sr. Account Managers....................................... Bernard B. Bregman bbregman@cnybj.com Mary LaMacchia mlamacchia@cnybj.com Marketing .......................BBB Marketing Inc. CIRCULATION Circulation Management....(315) 579-3927 Administrative Publisher..........................Norman Poltenson npoltenson@cnybj.com Chief Operating Officer......Marny Nesher mnesher@cnybj.com Business Manager.....................Kurt Bramer kbramer@cnybj.com

The Central New York Business Journal (ISSN #1050-3005) is published every week by CNY Business Review, Inc. All contents copyrighted 2012. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher. Cover Price $2 Subscription Rate $88 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: letters@cnybj.com PHONE: (315) 472-3104

opinion

New York faces another iceberg T   hink of New York State and its 3,200   employer-entities (state, county,   municipal, school districts, towns, villages, and public authorities) as the Titanic, steaming on its maiden voyage. Now think of the Empire State’s off-the-books debt as icebergs. New York dodged one financial iceberg April 1 when it approved a balanced budget without the usual resort to budget gimmickry. Yet, dead ahead lies another iceberg called retiree health benefits, which until recently lay below the water line. We can see the iceberg now because from the the government has publisher finally adopted new accounting standards mandated by an independent rule-making body called the Government Accounting Standards Boards, or GASB for short. GASB rule number 45 forces government officials, for the first time, to record the true costs of the promises made to state and local employees by declaring retiree benefits “deferred compensation,” whose costs should be recorded when earned. These costs appear as liabilities on the government entities’ balance sheets for voters and investors in the public-finance markets to see. The Empire Center for New York State Policy estimates the current obligation just for public-sector, retiree-health-care insurance at approximately $205 billion, which equates to roughly three-quarters of New York’s state and local government (2008 figures) obligations that are on the books. Unlike pension benefits, health care is not pre-funded and each entity is responsible for its own liabilities. The private sector dealt with this issue beginning in 1990 when GASB’s non-governmental counterpart — the Financial Accounting Standards Board — insisted that private employers account for their promises to employees by recognizing the obligation as a long-term liability. The private sector responded by reducing benefits, insisting on cost-sharing, or eliminating health-care benefits to retirees. Some companies, like General Motors and Chrysler,

norman poltenson

Calling All Opinion Writers The Business Journal is seeking to provide its readers with more opinion articles and more opposing viewpoints. The goal would be to publish a set of “Points/Counterpoints” on various issues of importance to businesses. The topics could include: • Economic-development policies • Entrepreneurship • Green business • Government spending • Taxes and regulations • Public-sector compensation and benefits • Unions

sought bankruptcy to remove the healthcare liability. Retiree health-care insurance expenditures just for New York State retirees currently cost $1.4 billion annually. By the end of the decade, it is projected to double and by 2026 triple. While projections are not available for all of the other government entities, it is anticipated that the growth pattern is similar. GASB brings the retiree health-benefit issue into view, but it does not require state and local governments to actually fund their promises. The rule-making body does, however, require each government entity to calculate the present value of future benefits, record the unfunded actuarial liability, and determine the annual required contribution. The GASB rule change has shown a spotlight on the size of the financial iceberg called retiree health benefits. Our state government’s unfunded obligation is $60 billion, nearly equal to the debt that is officially recorded on the books. New York City owes another $62 billion. The counties, cities, school districts, towns, and villages are obligated for $28.69 billion, while the largest public authorities have assumed $14.4 billion. The remaining $39.7 billion is owed by other local governments and school districts. On a regional level, Broome County’s unfunded actuarially approved liability is $186,314,000 spread over a population of 194,630. The resultant is $957 per capita. Oneida County owes $48,643,000 for its 231,044 residents or $211 per capita. Onondaga County bears unfunded liabilities of $700,900,000 for its population of 454,753 which equates to $1,541 per capita. The combined municipal and school liabilities for our region’s major cities are startling. The city of Binghamton owes $275,832,000 for a population of 44,401. That obligation translates into $6,212 per capita. Utica, with a population of 58,040, is on the hook for $250,872,000 or $4,322 per capita. Syracuse owes $1,551,866,000 for its population of 138,560. That’s a whopping $11,200 per capita, which leads all other New York cities. Now that we see the size of the iceberg and the potential impact of colliding with reality, New York has an opportunity to change course. The private sector learned its lesson of making promises without ac-

• Health-care reform and costs Have an opinion about any of these topics or others? Please send us your opinion in the form of a letter or opinion article to letters@ cnybj.com. Here are some general guidelines for how to compose your opinion piece: • Length should be no more than 800 words. • It should be written for a business audience — specifically business owners and managers. The topic must affect and appeal to this audience. • Pick a theme or trend you want to focus on and then build your opinion around that, making your key points. We find that lists

counting for them. Today, only 28 percent of companies with more than 200 employees and 3 percent of small businesses offer health-care benefits to retirees. These firms also require substantial retiree contributions to the system. New York State, on the other hand, covers, on average, 91 percent of the premium cost to insure its retirees. Our state and local governments are also generous in covering supplemental “Medigap” costs, in allowing retirees to apply up to 200 unused sick-days to premium costs, and in permitting vesting periods of only 5-15 years. Public-employee unions are hard at work to incorporate Article V, Section 7 of the New York State Constitution into retiree health benefits. They have been successful in applying the section to pensions, thus ensuring that the contractual obligation cannot be “diminished or impaired.” Thus far, the state’s highest court has ruled that the provision does not apply to retiree health insurance, which offers the legislature and governor a chance not only to rein in the skyrocketing cost trajectory but also to enjoy immediate savings. The time to act is now. Gov. Cuomo can redeem his poor performance with the unions in enacting a new Tier 6–pension reform by expending some political capital to modify the current generosity of retiree health benefits. While he has already unilaterally imposed higher insurance co-pays on retired state employees, he and the Senate need to counter five bills in the Assembly that will increase the cost of these benefits and a strong push by public-sector unions to place all contracted retiree health benefits under the protection of the state constitution. GASB has been beneficial in opening our eyes to the financial impact of generous post-retiree health benefits. I hope the public will pressure our elected officials in Albany not to kick this political can down the road. Failing this, the public-finance markets will certainly react by insisting on higher interest rates for greater risk. As I write this column, Greek government bonds are paying 22 percent interest. Is this the tip of the iceberg for New York or will we avoid a collision? q Norman Poltenson is publisher of The Central New York Business Journal. Contact him at npoltenson@cnybj.com

and bullet points work well to get your views across to the reader. • Include a tag line at the bottom that tells the reader who you are (name, hometown, organization) and how to contact you (e-mail address). For example: John Doe of Syracuse is managing partner at Doe Wood Smith LLC. Contact him at jdoe@dwsllc.com. • Article must be in Word format • The Business Journal will edit the article, including cutting out portions, to fit space as it sees fit. So whether you’re a conservative, progressive, or anything in between, please get your opinion seen and send it to: letters@ cnybj.com


22

• The Central New York Business Journal

May 11, 2012

May 15 n Liverpool Chamber of Commerce Monthly Luncheon at 11:30 a.m. at Quaker Steak and Lube at 3535 Walters Road in Van Buren. The cost is $12 with payment in advance, $14 at the door. Guests are welcome. Require RSVP at www.liverpoolchamber.com n Syracuse Chapter of International Association of Administrative Professionals Meeting beginning at 6 p.m. at C&S Companies, 499 Col. Eileen Collins Blvd., Syracuse. The topic will be “Six Sigma and Lean Processes,” presented by Roger McReynolds, VP, performance excellence, from Faxton St. Luke’s Healthcare. RSVP via www.jotform. com/form/12401111357. No cost for members; $5 cost for students; $10 for nonmembers. Dinner & program: $12 for members; $17 for students; $22 for nonmembers. For more information, visit www.iaap-syracuse.org or contact Suzanne Benderski at sbenderski@ cpsprofessionals.com n Networking Mixer from 5 to 7 p.m. at Ruby Tuesday Restaurant, 3220 Erie Blvd. East, DeWitt. The event is free. Bring business cards and network with other professionals. Hosted by Gung Ho Referrals. For additional information, visit www. GungHoReferrals.com or call Paul at (315) 475-0392.

May 16 n A Time to Build from 11 a.m. to 2 p.m. at the Holiday Inn in Liverpool. This is a recognition program to honor construction projects and partners that reflect excellence in craft and quality. For more information, visit www.BizEventz.com n CNY ASTD Social Media Community Discussion Group at the SUNY Center for Professional Development, 6333 Route 298, Suite 102, East Syracuse. For details, call (315) 546-2783 or email: info@cnyastd.org n HUBZone (Historically Underutilized Business Zone) Program from 8:30 to 11:30 a.m. at WISE Women’s Business Center at SSIC, 2610 S. Salina St., Syracuse. The event is hosted by the U.S. Small Business Administration for small businesses to learn how the program works and can increase federal government contracting opportunities. The event is free and open to the public. For additional information, please visit www. sba.gov/hubzone. To register, contact the SBA at (315) 471-9393.

May 17 n Introduction and Demonstration of Harrison Assessment Talent Solutions Breakfast Briefing from 8 to 9:30 a.m. at Pathfinders CTS, Inc. offices, 135 Old Cove Road, Suite 204, Liverpool. This is a comprehensive web-based tool for employee screening, selection, career and leadership development. There is no fee to attend. To register, visit www.TrustedCoach. com/events n A Winning Sales Process seminar from 8 to 9:30 a.m. at CenterState CEO, 572 S. Salina St., Syracuse. For more information or to register, call (315) 470-1997, or visit www.CenterStateCEO.com n Negotiation Skills for Any Situation professional-development workshop from 9 a.m. to 12:30 p.m. at the SUNY Oswego Metro Center, 2 Clinton Square in Syracuse. This workshop will present tools and techniques to make you a more skillful negotiator. The instructor will be Enid Reiley. The cost is $99. For more

Business Calendar

OF EVENTS

information, call (315) 399-4100 or visit oswego.edu/suites

May 22 n 2012 CCMR Annual Symposium – Next-Generation Materials Characterization from 8:30 a.m. to 6:30 p.m. will take place at the 120 Physical Sciences Building, Cornell University, Ithaca. For details and registration information, visit www.ccmr.cornell.edu/ symposium. n Women TIES Northern New York Luncheon “Understanding the Sales Cycle” from 11 a.m. to 2 p.m. at SUNY Canton, Roos House, Mezzanine Level, 34 Cornell Drive. Sponsored by SUNY Canton SBDC, the featured speaker will be Lynn Hidy, president of UpYourTeleSales.com. The cost is $29. Reservations are due by May 20. For details or reservations, visit www.womenties.com

May 23 n Liverpool Chamber of Commerce Business After Hours event from 5 to 7:30 p.m. at AMF Strike and Spare, Mattydale. The topic will be “Health Wellness, Fitness and Beauty Focus.” No cost to attend. For details, visit www.liverpoolchamber.com

May 24 n CPLP Information Session from noon to 1 p.m. at CenterState CEO headquarters, 572 S. Salina St., Syracuse. CNY ASTD will hold an informational session on the certified professional in learning & performance credential. For more information, call (315) 546-2783 or email: info@ cnyastd.org

May 29 n Getting Organized: Organize Your Work Space in 6 Steps workshop from 6 to 8 p.m. at Southside Innovation Center, 2610 S. Salina St., Syracuse. This free workshop discusses how to organize your workspace in six easy steps and create four operating zones. To register, email Regina Drumm at regina.drumm@ drumm-marketing.com

May 30 n Social Media, Marketing, and Technology Meet to Grow Your Business discussion from 8 to 9:30 a.m. at The Tech Garden, 235 Harrison St., Syracuse. The event will examine the benefits of social-media platforms and marketing for business and how various technologies can help. For more information or to register, call (315) 470-1997, or visit www.CenterStateCEO.com

May 31 n Maximize Your CenterState CEO Membership meeting from 8:30 to 9:30 a.m. at CenterStateCEO, 572 S. Salina St., Syracuse. Meet the CenterState CEO staff,

connect with other members, promote your business, learn about educational opportunities, obtain information on programs and seminars, and sign up for committee participation. No cost to attend. Reservations are requested by calling (315) 470-1997, or visiting www. CenterStateCEO.com

June 7 n Credit Building for Entrepreneurs workshop from 6 to 8 p.m. at the Southwest Economic Business Resource Center, 119 W. Onondaga St., Syracuse. This free workshop assists entrepreneurs with reviewing their credit scores and the understanding implications for them and their business. To register, email Regina Drumm at regina.drumm@drumm-marketing.com n CenterState CEO Business Before Hours event from 8 to 9:30 a.m. at the CNY Fertility Center, 195 Intrepid Lane, Syracuse. Contact Lisa Metot at (315) 4701870 or email: lmetot@centerstateceo. com for additional information. n CNY BEST Learning and Performance Awards Ceremony at 5:30 p.m. at DoubleTree by Hilton Hotel Syracuse, 6301 Route 298, East Syracuse. This is the fifth annual recognition of excellence in learning and performance practices in the CNY area. The cost is $65. For details or reservations, call (315) 546-2783 or email: info@cnyastd.org

june 12 n Build a Business: How to Turn Your Ideas into Realities workshop from 6 to 8 p.m. at the Southwest Economic Business Resource Center, 119 W. Onondaga St., Syracuse. This free workshop assists entrepreneurs with developing ideas into feasible businesses. To register, email Regina Drumm at regina. drumm@drumm-marketing.com

june 14 n CNY ASTD Member Orientation from 7:30 to 9 a.m. at Sandler Training/DB&B Peak Performance Management, 443 N. Franklin St., Suite 100, Syracuse. This is a discussion on why and how to make the most of membership in CNY ASTD. No cost to attend. Register at www.cnyastd. org or for more information, call (315) 546-2783 or email: info@cnyastd.org

june 19 n Liverpool Chamber of Commerce Monthly Luncheon combined with Baldwinsville Picnic at 11:30 a.m. at the Elks Lodge, located on Route 370, near Hayes Road. The cost is $12 in advance, $14 at the door. Guests are welcome. RSVP required; visit www.liverpoolchamber.com

june 20 n Opportunities for Minority and

Women Entrepreneurs workshop from 6 to 8 p.m. at the Assisi Center, 800 N. Salina St., Syracuse. This free workshop assists minority and women entrepreneurs with what programs and resources are available to them in pursuing their entrepreneurial endeavors. To register, email Regina Drumm at regina.drumm@ drumm-marketing.com

june 25 n CenterState CEO Golf Outing at Turning Stone Resort, Verona beginning with 7 a.m. registration and 8 a.m. shotgun start. Shenendoah and Kaluhyat courses. Cost is $300/person for CenterState CEO members. For registration or sponsorship information, visit www.centerstateceo.com or contact Lisa Metot at (315) 470-1870 or email: lmetot@centerstateceo.com. Registration deadline is June 22.

june 27 n Financial Executive of the Year 2012 from 11 a.m. to 2 p.m. at the Nicholas J. Pirro Convention Center, Syracuse. The Financial Executive of the Year awards are given to financial professionals in Central New York, the Mohawk Valley, and Greater Binghamton for outstanding performance in their roles as corporate financial stewards. The cost is $55, but there is no charge for the finalists. For nomination and registration details, visit www.BizEventz.com

ONGOING EVENTS n Every Tuesday, Cayuga Club Toastmasters from 6 to 7 p.m. at Cornell University, Ithaca, Rhodes Hall, 6th Floor, Conference Room #655. Free and easy parking is available nearby at Peterson Lot. For more information, contact Julia Reich, (315) 364-7190 or email: juliareichdesign@gmail.com n Every Tuesday, Gung Ho Networking Group from noon to 1:30 p.m. at Ruby Tuesday Restaurant, 3220 Erie Blvd E., DeWitt. Possible referrals for you; this is not a tip club. First visit free. Contact Paul Ellis at (315) 677-0015 or visit www. GungHoReferrals.com n Every Wednesday, Syracuse Business Networking from 6 to 7 p.m. at Barbieri’s Restaurant (upstairs level) located on Main Street in the village of North Syracuse. For more information, call Kim Bachstein at (315) 414-8223 or email: info@SyracuseBusinessNetworking.com n 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. Entrepreneurs and small businesses can meet one-onone with a counselor from the SBDC for advice and customized assistance opportunities. Scheduled by appointment, call (315) 474-0910 or email: info@thecleantechcenter.com n Second Wednesday of every month, Salt City Technical offers by appointment free consultation to entrepreneurs or inventors who would like to have their product ideas evaluated by a staff of trained engineers. For more information or to schedule a consultation, call (315) 456-8461, or visit www.saltcitytechnical. 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. Continued on the next page


The Central New York Business Journal • 23

May 11, 2012

PEOPLE ON THE MOVE: new hires & promotions ARCHITECTURE Tom Hofmann recently joined the Dalpos Architects & Integrators’ team as an architect and senior designer. He graduated with a master’s degree in architecture from Syracuse University and is a member of the Central New York Chapter of the American Institute of Architects and the National Council of Architectural Registration Boards. Hofmann has significant experience as a designer/ project architect for Little Diversified Architectural Consulting in Charlotte, N.C. and for Stevens & Wilkinson Architects & Engineers in Columbia, S.C. He was also director of design and construction for a North Carolina developer.

BANKING & FINANCE Kenneth S. Williams has been promoted to administrative vice president at M&T Bank. In this position, he is the regional manager responsible for sales in the Central New York and Capital regions Williams for Wilmington Trust. Williams joined M&T Bank in 2002. He holds a bachelor’s degree from SUNY Oswego and is a chartered financial consultant through the American College. Tompkins Trust Company has promoted Greg Smith to vice president of corporate risk management. Smith, who has been with Tompkins Trust since 2011 as vice president of informationSmith technology security, will be responsible for managing the company’s corporate riskmanagement functions. He has more than 25 years experience in the informationsecurity industry. Mike Cannon has been promoted to vice president of commercial lending. He has been in commercial lending with Tompkins Trust Company since

2006. Cannon has 26 years experience in the commercial-lending field, all based in Ithaca. He holds a bachelor’s degree in government and international relations from the University of Notre Dame.

four decades of experience with the industry. Capozzi brings expertise in retail, commercial, and multi-family site selection, sales and leasing.

TECHNOLOGY Cannon

ENVIRONMENTAL The OCRRA board of directors recently voted to appoint Mark Donnelly of Jamesville as the solid waste and recycling agency’s new executive director. An ad hoc committee of the OCRRA board reDonnelly viewed more than 40 applications for the position. He will begin his new responsibilities at the end of May. Donnelly has an MBA from Le Moyne College and a master’s degree in adult education from Elmira College.

INSURANCE Tompkins Insurance Agencies, Inc. has promoted Karen Besemer to assistant vice president in its employee-benefits division. She has been with Tompkins Insurance since 2009 as an emBesemer ployee-benefits specialist. Besemer holds a bachelor’s degree in accounting from Ithaca College and has 18 years experience in the industry.

REAL ESTATE Thomas Capozzi recently joined the newly formed RE/MAX Masters – Commercial Division, Fayetteville. He is a New York State licensed real-estate broker with nearly

CXtec recently promoted Matt Graham to director of its cablemanufacturing division, CABLExpress. He has been with CXtec for 10 years, serving in various roles including regional sales Graham manager and account executive. Prior to his promotion, Graham was director of sales for CABLExpress, where he managed the sale and support of data-center cabling infrastructure solutions. The ITX Corp. board of directors has appointed Fred Beer as president. Beer succeeds Ralph Dandrea, current president and CEO. Dandrea, who has been president and CEO for 15 years, will retain the CEO and chairman position. Beer joined ITX in August 2009 as a partner on the executive team, taking on increased responsibility throughout his tenure. Dandrea will be focused on working with the executive team on strategic directions. Before Beer joined the company, he co-founded Auragen Communications Inc. and as CEO was responsible for all of the company’s sales and operations, including management of sales, service, and support. Beer also co-founded Potential Point, LLC., which has since merged with Brand Integrity, a Rochester company, where he currently serves as a board member. ITX, based in Pittsford, has offices in Syracuse and Ithaca. Its services include website design and development, technology strategy and consulting, and Internet marketing. q

Send your People-on-the-Move news via email to: movers@cnybj.com

PANEL: Volatility can be a destructive force for investor portfolios Continued from page 17

worlds over the last 10 years — that is lower volatility than stocks and superior returns. Mindlessly extrapolating that performance going forward is in my view the biggest risk for an investor. Lemire: Volatility can be a destructive force for investor portfolios if it induces excessive trading in reaction to the current headlines. The relatively smooth ride that the equity markets took through the first three-plus months of this year can lull investors to “sleep.” Thus, increased volatility can be a rude wakeup call, if investors have not prepared ahead of time. We work with our clients, so that we are both prepared for this risk. We strive to craft investment plans constructed during more calm markets, so that we can stick to the plan during the tough markets. Lombardo: One of the great risks we

hear about from investors is that in a lowinterest rate environment there is a tendency to reach for return by being more aggressive in stocks and bonds. We would caution against that, because in an era where 45 to 50 percent of the world’s economy is in need of deleveraging, reaching for return can be very damaging to the portfolio. While neither stocks nor bonds are particularly cheap right now, there is much greater near-term risk for the equity market right now, than there is for the bond market. And, we believe that’s because while inflation is likely to occur because of the Fed’s so-called money printing, we believe that’s further down the road because the banks are re-depositing the money with the Federal Reserve much more so than they are lending it back out into the economy. Because of that, we think it’s probably more than three years out before inflation becomes a significant concern. Schmidt: Group think. What is working

for the person you have breakfast with may or may not be appropriate for what you are attempting to accomplish. Heck, that assumes you even know what you are attempting to accomplish. Too often, I hear people say I am saving for retirement. That is nice, but how long are you expecting to live, how much do you need to live on, and how willing to take risk are you? These are questions they either cannot answer or have not considered asking themselves. That makes planning tough. Focus on the end and work backwards. Identify the fixed incomes in the form of pensions you have available, then examine your future costs. The difference must come from your investment accounts. There are two levers you can pull in retirement planning, risk and contribution. Finding the balance of the two in light of what you are attempting to accomplish is a great place to start the planning. How else do you know if you are on target? q

business calendar (continued) freetoasthost.info n Every first and third Thursday each month, Liverpool Linguists from 7 to 8 p.m. at the Liverpool First Methodist Church, 604 Oswego Road, Liverpool. For details, visit http://liverpool.toastmastersclubs.org or call (315) 884-2668 or 4572581. 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 sjurkiewicz@centerstateceo.com or call (315) 470-1802. n Every Friday, 40 Above: Workers in Transition from 9 to 11 a.m. at The Westcott Community Center, 817 Euclid Ave., Syracuse. Helping workers/job seekers aged 40 and above in search for work. Contact John A. Cruty at (315) 569-3964, or at crutij@yahoo.com 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: bbregman@cnybj.com n First Friday of each month, Toolkit Day with SCORE by appointment at The Tech Garden. Counselors provide free, confidential, individual business mentoring to prospective or current business owners. For more information or to schedule an appointment, contact Lynn Hughes at (315) 579-2862 or email Lynn@TheTechGarden. com n Every second and fourth Friday of each month, The SUN Group (Sustainable Upstate Network) meets from 7:30 to 9 a.m. at Tony’s Family Restaurant, 3004 Burnet Ave., Syracuse. For more information, contact Andy Picco at (315) 657-0135 or email: andrewpicco@gmail.com 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 n CNY Connects is a networking organization offering 12 groups from which to choose. If you are interested in learning more, contact Amy Kaschel of AK Consulting at akconsult@twcny.rr.com or call (315) 882-6127 or visit www.cnyconnectsonline.com To have your meetings or events in the Business Calendar, email them to movers@cnybj.com

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24

• The Central New York Business Journal

May 11, 2012

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2B • The Business Journal

A TIME TO BUILD

May 16, 2012

Celebrating A Time to Build

T

he concept of this event — to rec- the Holiday Inn Syracuse-Liverpool with an ognize the skilled people it takes expected crowd of about 250 people. to build a project — has been a Poltenson explains, “We’re just happy to long time coming in our region. As Rodney have an opportunity to recognize these peoDangerfield would say, “These people just ple at the event itself, in the printed edition, don’t get any respect.” In our area, the and with all the publicity that’s associated 16-county region covered by The Business with it — to tell the community, to make Journal, there is no local recognition. You them aware.”  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 subcontractors who get involved to make it work, someone to finance it, an accountant, and of course, the lawyers. That’s a very complicated 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 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 from thethe inside out.and Add our expert, thinking about architects designers, but someone has to actually build and personalized customer service and put it together; it’s just not science, there’s a lot of acraft involved. I think those comprehensive rangepeople of products deserve recognition, and they don’t get it.” and services, andonwe can The event is being held May 16 custom-fit at

Left, top: Adam Rombel, editor-in-chief of The Central New York Business Journal, and Craig Burton, first vice president of Commercial Real Estate at First Niagara Bank, bottom left, speak at the 2011 A Time to Build event. Above: Attendees peruse the feature publication at the event, which was attended by about 230 people, below.

ife’s work. ery angle.

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Master of Ceremonies MICHAEL BENNY

Presents Visit us at FirstNiagara.com

NKIN G

ANCHOR/MANAGING EDITOR, CNY CENTRAL Michael Benny anchors the CBS 5 news at 5, 5:30, 6, and 11 p.m. Before joining CNY Central in 2000, he was the morning anchor at WBNG-TV in Binghamton. In 2001, he was honored with the Newcomer of the Year Award by the Syracuse Press Club. Benny has traveled the country covering events such as the 9/11 attacks, space shuttle launches, and Syracuse University’s victory in the 2003 NCAA basketball tournament in New Orleans. Benny grew up in Scotia and earned his bachelor’s degree from American University. He is a proud supporter of the Central New York chapter of the Leukemia and Lymphoma Society’s annual Light the Night Walk in downtown Syracuse. Rooting for Syracuse University’s men’s basketball team is one of his favorite pastimes.

DESIGNING BUILDINGS FOR THE FUTURE IS ALAN’S BUSINESS. WE ARE PROUD HE HAS MADE IT OUR BUSINESS, TOO. Alan works every day to turn his vision into a reality. And Time Warner Cable Business Class partnered with him to bring it to life. We provided his firm with a High-Speed Internet and Business Class Phone solution to communicate with his clients. At Time Warner Cable Business Class, we take the time to listen — so you get the right mix of Internet, Phone, Ethernet and Cable TV solutions. We built that for Alan. We can build it for you.

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A TIME TO BUILD

May 16, 2012

The Business Journal • 3B

A TIME TO BUILD JUDGES EDWARD KOCHIAN

RANDALL KORMAN

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. He is currently a special adviser to the Onondaga County Executive (this is an unpaid position). Kochian served 28 years as deputy to all three county executives, and also was project director for the Onondaga County Convention Center Complex, Onondaga County Justice Center, and Alliance Bank Stadium. Kochian served as the interim executive director of the Syracuse Symphony Orchestra from January to July 2010. He continues to support Symphony Syracuse today. He volunteers throughout the community for organizations such as Pro-Literacy, Literacy Coalition, and is the incoming president for “Friends of the Central Library,” the group that sponsors the Gifford Library Lecture Series.

WILLIAM LESTER

REBECCA MEINKING

CHIEF ENGINEER, RETIRED O’BRIEN & GERE

ASSOCIATE DEAN, SYRACUSE UNIVERSITY SCHOOL OF ARCHITECTURE Randall Korman is an architect and professor of architecture at Syracuse University, where he has taught for the past 24 years. He is a native of New York City, where he received his undergraduate degree from The Cooper Union. Korman completed his graduate studies at Harvard University and a post-graduate internship at the Institute for Architecture and Urban Studies in New York City. While at Syracuse University, Korman has served as chair of both the undergraduate and graduate architecture programs. During 1989-90, he served as the resident director of Syracuse University’s Florence Center. He has traveled widely through Europe and has conducted a number of study-abroad programs in various countries including Austria, England, Italy, and Russia. Korman is currently serving as the associate dean for the School of Architecture.

EXECUTIVE VICE PRESIDENT, THE RADEC CORPORATION

Since his retirement as T:10.5 in 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 realtime process control and management.

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.

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tlas Fence is proud to be a co-sponsor for the annual “A Time to Build” awards program. We join in recognizing the finest teams in Central New York and

FIRLEY, MORAN, FREER & ESSA, CPA, P.C.

W

e commend the efforts of all those connected with “A Time to Build” and are proud to be a founding sponsor and supporter of this very important event. We congratulate all the nominees for their creativity and inspiring projects that improve the landscape of our local communities and define their dedication and commitment to excellence. Firley, Moran, Freer & Eassa, CPA, P.C., is in its 32nd year of dedication to our clients. The firm continues to serve locally and throughout the United States, providing audit, accounting, tax, and management-consulting services to businesses

beyond, for their unparalleled work in our communities. It’s an honor to work next to such outstanding businesses. Congratulations to ALL!

in various industries, including those specializing in construction, energy, engineering, and real estate. Our clients’ success is our primary focus. We strive to help them reach their greatest potential by serving as much more than their accountants, but as trusted business advisors committed to their unique business goals. To help us accomplish this, we tap into our McGladrey Alliance relationship, which gives us access to national and international experts. Therefore, regardless of where you are in the world, our firm has the resources to serve all your business needs. To learn more about our firm, visit www.fmfecpa.com.

FIRST NIAGARA to know your business

While we are proud to be honoring this irst Niagara is proud to be a founding year’s winners, we are sponsor of “A Time to Build” — recogniz- just as pleased to be Visit us at FirstNiagara.com ing and honoring significant achievements helping businesses across New York State achieve in building and construction throughout Central their goals. Whether striking out on their own, moving into a bigger space, or expanding their footprint, New York, Mohawk Valley, Finger Lakes, CO M M E RC IGreater AL & BUSINESS BANKING First Niagara believes that when our local businesses Binghamton, and the North Country. This year’s finalists, honorees, and winners set stay strong, our communities stay strong. And now, themselves apart from their peers, and deserve our through recent acquisitions, we are making banking S KkeepMANAGEMENT even more convenient for our customers with 49 recognition. They also deserve our thanksRIfor ing New York at the center of architectural design locations throughout Central New York. First Niagara. Proud sponsor of “A Time to and development, and helping to preserve our rich, Build.” diverse, and historic building landscape.

F

INSURANCE

SAROFEEN & ARBON, PLLC

legal experience and recognize the quality of a job well done. Their firm provides legal sers a proud sponsor of this year’s “A Time CONSULTING B E NEFITS to Build,” Sarofeen & Arbon, PLLC would vices in the areas of business, like to congratulate all the finalists for their real estate, tax, estate planning, venture capital, ecocreativity, motivation, work ethic, and most impor- nomic development, and commercial lending. The tantly, their commitment to excellence, as evidenced attorneys pride themselves on the firm’s responsiveness, reputation, and innovation with a dedication to by Insurance these extraordinary projects. and consulting services are available through First Niagara Risk Management, Inc., a wholly-owned subsidiary of First Niagara Bank, N.A. Michael Sarofeen and Mark Arbon, attorneys and their clients. For more information about Sarofeen founders of the Syracuse law firm of Sarofeen & & Arbon, PLLC, call (315) 234-1700 or visit www. Arbon, PLLC, have more than 50 years of combined sapllclaw.com.

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4B • The Business Journal

A TIME TO BUILD

CATEGORY: BEST COMMERCIAL PROJECT DESTINY USA

Engineer: Robson Woese, Inc., O’Brien and Gere, and Thornton Tomasett General Contractor: Destiny USA Project Location: Syracuse Project Cost: $650 Million

THE FINALISTS

(pages 4B-16B)

Owner/Developer: Robert Congel/Pyramid Companies Architect: Dalpos Architects & Integrators; Holmes, King and Kallquist Destiny USA will soon be known as the sixth-largest shopping destination in the country. The new 1.3 million-square-foot expansion is LEED Gold certified. The construction process utilized strict recycling habits, paper-free zones, and the extensive use of recycled wood, cork, and steel throughout the project. More than 90 percent of all materials were diverted from landfills. The site itself is a brownfield and required redevelopment

before construction. A dedicated team of engineers, architects, and contractors has worked diligently to complete the building, which is now open to the public as individual tenants begin building out and opening their spaces. The innovative team developed a statuesque building with a creative interior including unique architectural elements in the design and lighting. On Aug. 2, Destiny USA will hold a rebranding and grand opening celebration.

ISLAND HEALTH & FITNESS, COMMUNITY CORNERS Owner/Developer: Island Health and Fitness Center, LLC Architect: HOLT Architects, P.C. Engineer: Sack Associates General Contractor: McPherson Builders Project Location: Ithaca Project Cost: $934,000 The new Island Health & Fitness Center at Community Corners is a satellite location of a larger facility located in the city of Ithaca. The renovation project created an entrance addition and converted 12,000 square feet of former retail and office space into a health and fitness center. The existing one-story building interior was completely gutted, creating large open spaces for the cardiovascular and strength-training equipment. A “program room” with a resilient wood floor was provided to accommodate aerobics, spinning, yoga, and other program

offerings. All fitness spaces have a mix of large windows for that see-and-be-seen effect, and translucent glazing for more privacy where warranted to infuse the interior spaces with daylight. The existing open web bar joists are exposed and painted to match the roof deck, as is the spiral duct mechanical distribution system. HID lighting complements the “industrial” aesthetic of the ceiling treatment, and works well with the high-tech treadmills, ellipticals, and stationary bikes.

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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May 16, 2012


May 16, 2012

A TIME TO BUILD

The Business Journal • 5B

The Stardust Community Birthing Center in memory of John and Irene Bisgrove

NEW BEGINNINGS START WITH HEALTHCARE EXCELLENCE

THANK YOU!! YOUR GIFT CREATED A PRESTIGIOUS PLACE FOR OUR COMMUNITY TO GROW. TO SCHEDULE A TOUR CALL US AT 315.255.7228 www.auburnhospital.org


6B • The Business Journal

a time to build

May 16, 2012

Category: Best Educational Project ($10 Million or less) CONKLING ELEMENTARY SCHOOL – RENOVATIONS Owner/Developer: Utica City School District Architect: Stieglitz Snyder Architecture Engineer: C&S Companies (M/E/P/LS), Almy and Associates (structural), Alan M. Swierczek (civil) General Contractor: Charles A. Gaetano Construction Corporation Location: Utica Project Cost: $8 Million Stieglitz Snyder Architecture and C&S Companies were selected for the rehabilitation of the Conkling Elementary School in the Utica City School District. This design and construction project involved the renovation and restoration of a 1924 vintage building, that housed approximately 100 city school administrative personnel in Utica, back to its educational purpose as an elementary school. The project involved many unique facets, but generally focused on two key areas: maintaining the historical beauty of the building while functionally streamlining it for today’s modern educational environment, and upgrading the building’s support systems to meet safety standards and building codes. The design team worked closely with the owner to resolve any unforeseen conditions found during construction, keeping the project moving forward as scheduled. The project was completed on time, and ready for occupancy for the 2011-2012 school year. The result is a modern, healthy learning environment that still maintains the vintage look and integrity of the original building.

CORTLAND ENLARGED CSD HIGH SCHOOL STADIUM Owner/Developer: Cortland Enlarged City School District Architect: Tetra Tech Architects & Engineers Engineer: Tetra Tech Architects & Engineers General Contractor: Smith Site Development, LLC Location: Cortland Enlarged City School District High School Campus, 8 Valley View Drive, Cortland Project Cost: Approximately $3.1 Million The project consisted of the complete removal of the existing field, track, bleachers, and lighting, and replacement with a new synthetic turf field to support six athletic teams, new six-lane resilient surface track, new bleachers, press box, scoreboard, and lighting. Drainage improvements were completed to relieve watershed concerns that existed previously. Underground closed-circuit TV and communications infrastructure were installed to support the new press box with an upper camera deck and the field for the Cortland Video Club’s broadcasting capabilities. New track and field events consisting of long and high jumps, pole vault, shot put, and as well as discussions on where they would be installed. The new stadium bleachers have a seating capacity of 2,700 people with proper ADA access. Renovations to the restroom facilities were also completed. All work was completed on schedule and within budget. The first game was played during homecoming weekend with a re-dedication of the stadium.

PROUD TO BE A FINALIST FOR THE FOLLOWING A TIME TO BUILD AWARDS BEST EDUCATIONAL PROJECT $10 MILLION OR LESS Cortland City School District Stadium

BEST EDUCATIONAL PROJECT MORE THAN $10 MILLION Hannibal Central School District

Lend Lease 360 West Jefferson Street, Suite A, Syracuse, NY 13202 T 315 214 5140 www.lendlease.com

BEST GREEN PROJECT Liverpool Central School District Middle School-Elementary School Project


a time to build

May 16, 2012

The Business Journal • 7B

Category: Best Educational Project ($10 Million or less) (continued) ONONDAGA COMMUNITY COLLEGE H1 HALL BUILDING RENOVATION Owner/Developer: Onondaga Community College Architect: C&S Companies • Engineer: C&S Companies • General Contractor: Daniel J. Lynch, Inc. Location: Syracuse Project Cost: $7.6 Million Onondaga Community College (OCC) has a growing student population and a need for additional space. C&S Companies was chosen to transform H1 Hall, a historic 45,000-square-foot, four-story building, into additional classrooms and offices for OCC’s higher-education program. The building, originally constructed in 1928, with an addition in 1969, had served as a home for the poor and ill in Onondaga County. The building had stood unused for more than 10 years and needed major renovations. Reusing this existing building allowed the college to honor a historic property and reduce the environmental impact from new construction. C&S strove to link past with present — inside, the original steel columns and concrete floor structures were left exposed, along with brick walls in the stair and elevator enclosures. Exposing the structural components and utility systems allowed the building itself to become a teaching lab for the architectural technology and engineering science programs. The effect is a visually complex mosaic pattern on the ceiling that weaves the past and present, and engineering and architectural elements into a composite throughout building. ONS-0412-040 biz jourdesign 4C ad_ f:Layout 1the 5/4/12 3:16 PM Page 1

U.S. construction spending edges up 0.1 percent in March By Journal Staff

A

  n increase in private commercial   building projects and single-family   home construction pushed overall national construction spending up 0.1 percent in March from February, the U.S. Census Bureau reported May 1. The slight increase reversed declines in construction activity in February and January. Total U.S. construction spending ticked up to $808 billion in March from $807 billion in February, the department said. But the latest month’s spending level was 6 percent above March 2011 construction spending of nearly $763 billion, a 12-year low. Private nonresidential construction spending totaled nearly $288 billion in March, up 0.7 percent from almost $286 billion in February and up more than 15 percent from nearly $250 billion in March 2011. The transportation, office, and lodging sectors saw the biggest gains in the latest month. Private residential construction spending also rose 0.7 percent in March to $244 billion from $242.5 billion in February. The increases in private commercial and home construction spending offset declines in government construction activity. Total public construction spending fell 1.1 percent to $276 billion in March from $279 billion in February. q

For quality construction with no suprises, you need OnSite On the job. During the construction process, the last thing you want is to be surprised by unexpected delays or unforeseen expenses. The OnSite team avoids these through our proven customer-centric focus, open communication and dedication to building trust and value into every job. Add to that the quality craftsmanship delivered by our full-time team of experienced managers, estimators, site superintendents and tradesmen, and you’ll easily see why OnSite has built such a loyal following of repeat customers. Onsite offers complete design-build expertise and full-service commercial construction throughout the region and beyond. To see the OnSite advantages for yourself, let us provide an estimate for your next project.

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8B • The Business Journal

a time to build

May 16, 2012

Category: Best Educational Project (More than $10 Million) HANNIBAL CENTRAL SCHOOL DISTRICT CAPITAL CONSTRUCTION PROJECT Owner/Developer: Hannibal Central School District Architect: SWBR Architects • Engineer: ME Engineering General Contractor: R. J. Ortlieb Construction Co. • Location: Hannibal Project Cost: $26.9 Million This project included the renovation of three existing school buildings — an elementary school, a middle school, and a high school, all located on one campus. The project included extensive renovations and modification to the campus (site) itself. A completely new kitchen was installed at the middle school. Extensive renovations were performed to the auditorium at the high school. Additionally, there were roof replacements at two of the schools, and classroom and office renovations at

all three schools. Renovations and modifications to the campus (site) included a new playground, expanded parking, expanded site-drainage system and renovations to playing fields. As part of the company’s obligation to the Hannibal School District, we assured that the project was completed on schedule and was developed within the budget, both of which were achieved.

LE MOYNE COLLEGE SCIENCE BUILDING Owner/Developer: Le Moyne College Architect: Ashley McGraw Architects Engineer: Sack & Associates General Contractor: Le Moyne College Location: Le Moyne College Campus, Syracuse Project Cost: $20 Million Le Moyne College’s new science building is a 48,000-square-foot facility completed under the project’s $20 million budget. The college’s physicianassistant program occupies the third floor and classrooms and laboratories in the basement, first and second floors will support other health-service disciplines, as well as biology and physics. With groundbreaking held in June 2010, the building was constructed in just over 18 months. It received its Certificate of Occupancy in late 2011,

and the first classes were held in the building in January 2012. The building is symbolic of the Jesuit institution’s rapidly growing programs in both the sciences and the health professions. Among its features are a 125-seat tiered lecture hall, a variety of classrooms, laboratories for instruction and research, faculty offices, collaborative spaces, simulation facilities, and a computer lab. A two-story glass atrium greets students from the main entrance of the building.

A Time to Build Awards Finalists: 

Fulton Companies Headquarters   & Manufacturing Expansion 

The Fulton Medical Center Phase 1  Oswego Health 

The Fulton Companies 

Architect:   Landscape Architect:  Structural Engineer:  MEP Engineer: 

Architect:   Structural Engineer:  Civil Engineer:  MEP Engineer: 

Macknight Architects + Planners  Palucci Engineering  Dunn & Sgromo Engineers  Argus Consul�ng Group 

THE

     

King + King Architects  Appel Osborne  St. Germain & Aupperle  M/E Engineering 

The Hayner Hoyt Corporation would like to thank our wonderful clients for having us part of these Award Winning Projects!

HAYNER HOYT CORPORATION 625 Erie Blvd. West  Syracuse, NY 13204 

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The Colgate Inn  The Hamilton Ini�a�ve   & Colgate University 

frontdesk@haynerhoyt.com www.haynerhoyt.com 

Architect:   Holmes ▪ King ▪ Kallquist & Associates  Structural Engineer:  Klepper, Hahn & Hya�  MEP Engineer:  Robson & Woese 


A TIME TO BUILD

May 16, 2012

The Business Journal • 9B

CATEGORY: BEST EDUCATIONAL PROJECT (MORE THAN $10 MILLION) (continued) MILSTEIN HALL Owner/Developer: Cornell University Architect: OMA • Engineer: Robert Silman Associates • Construction Manager: Welliver Location: Ithaca • Project Cost: $42 Million Until 2011, the College of Architecture, Art and Planning at Cornell University was housed in four separate buildings, distinct in architectural style and programmatic use. Rather than creating a new, free-standing building for much-needed studio, auditorium, gallery, and critique spaces, Milstein Hall physically unites the AAP’s long-separated facilities to solve these challenges, forming a platform for

interdisciplinary collaboration. Enveloped in an energy-efficient glass and Turkish marble façade, Milstein Hall is a three-story, 47,000-square-foot, LEED Gold building that features gallery, critique, learning, and meeting spaces. Milstein Hall’s design by Pritzker Prize winner Rem Koolhaas of OMA sets the precedent for a new realm of modern construction on Cornell’s campus.

CATEGORY: BEST GREEN PROJECT

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HOTEL SKYLER Owner/Developer: Norman Swanson Architect: Edwin I. Harrington, III General Contractor: Woodbine Group Location: 601 S. Crouse Ave., Syracuse Project Cost: $7.5 Million

After a nearly three-year design and construction process, Hotel Skyler has received Leadership in Energy and Environmental Design (LEED) Platinum certification from the U.S. Green Building Council. The 37,000-squarefoot, 58-room boutique hotel on the Syracuse University campus earned the USGBC’s highest certification level for its achievements in ecofriendly and energy-efficient construction. Hotel Skyler is only the third hotel in the U.S., and the 12th in the world, to receive LEED Platinum certification. Sustainably speaking, Hotel Skyler is something extraordinary — a historic building re-imagined and renovated to meet LEED Platinum standards. As the saying goes, “The greenest building is one that’s already here.” Avoiding demolition eliminates not only physical waste but also historical waste — it’s as important as any new green technology. On the outside, the property looks like a temple from the early 1900s. But step inside, and you’re transported to an ultra-modern, one-of-a-kind hotel.

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10B • The Business Journal

a time to build

May 16, 2012

Category: Best GREEN Project (continued) LIVERPOOL CENTRAL SCHOOL DISTRICT (MIDDLE SCHOOL / ELEMENTARY SCHOOL) Owner/Developer: Liverpool Central School District Architect: Ashley McGraw Architects • Engineer: Sack & Associates Construction Manager: Lend Lease Location: Liverpool • Project Cost: $34.6 Million The project consists of approximately 93,400 square feet of renovations and 24,300 square feet of additions to two school buildings. At the elementary school, a solar-preheat wall uses heat from the sun to warm fresh air entering the ventilation system, reducing heating-energy usage. The lighting system combines natural lighting with an electric lighting system that dims or turns off the lights when there is sufficient daylight available.

At the middle school, a passive solar heating and natural day lighting system has been integrated into the project. The Trombe Wall harnesses the heat and light of the sun, thereby reducing the heating and lighting energy usage. Other green enhancements included in the scope of work include a draft-tight building skin, high-efficiency mechanical and electrical systems, heat-recovery systems, asbestos remediation, and soil remediation.

CENTENNIAL HALL AT SUNY COLLEGE OF ENVIRONMENTAL SCIENCE & FORESTRY (ESF) Owner/Developer: ESF College Foundation, Inc. Architect: Holmes King Kallquist & Associates, Architects Engineers: Mechanical/electrical: Sack & Associates; structural: Klepper Hahn & Hyatt General Contractor: Hueber-Breuer Construction Co., Inc. Location: Syracuse • Project Cost: $20 Million It is highly energy-efficient and wears its Centennial Hall provides the first housing exclusively for ESF students. The four-story residence sustainability visibly with locally manufactured is the largest wood-frame, modular structure in New concrete masonry units, recycled steel cladding, flooring, cabinets, and furniture manufactured York State. The building was assembled from 188 from sustainable materials. The building roof line modules, erected, and weather-tight in 10 weeks, is lower than the ridges of the original houses, and completed in just 10 months. minimizing any impact on views. The site As you would expect from ESF, Centennial Hall was built to be environmentally sensitive CNYBJ_timetobuild_Layout 1 4/30/2012 11:29 AMfeatures Page 1low maintenance, native plant material, and a zero run-off storm-water management and, indeed, it achieved LEED Gold certification.

system. Roof run-off infiltrates back into the soil to water its wildflowers and native grass “meadow” lawn.

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A TIME TO BUILD

May 16, 2012

The Business Journal â&#x20AC;˘ 11B

CATEGORY: BEST HEALTH-CARE FACILITY FULTON MEDICAL CENTER Owner/Developer: Oswego Health Architect: King + King Architects Engineer: M/E Engineering; Appel Osborne; St. Germain and Aupperle General Contractor: Hayner Hoyt Location: Fulton Project Cost: Approximately $5.5 Million The first phase (of two) of Oswego Healthâ&#x20AC;&#x2122;s Fulton Medical Center includes urgent care, medical imaging, womenâ&#x20AC;&#x2122;s imaging services, and occupational health. The project includes renovation of an existing health-care facility, the former A. L. Lee Memorial Hospital. Data for each department follows: Urgent Care is 7,360 square feet, Imaging is 11,100 square feet, and Occupational Health is 1,315 square feet. The cost of construction is approximately $5,481,000.

The majority of phase I was completed by December 2011. Phase II was completed in March 2012. The design was created through an integrated process by an innovative team with a primary goal to support the vision: â&#x20AC;&#x153;Provide a shinning star for the community, a beacon that supports wellnessâ&#x20AC;?. The environment that we created enhances exceptional health-care delivery in the Fulton Medical Center.

HOSPICE OF JEFFERSON COUNTY Owner/Developer: Hospice of Jefferson County â&#x20AC;˘ Architect: Michael L. Aubertine Engineers: Aubertine and Currier Architects, Engineers and Land Surveyors, PLLC General Contractor: Purcell Construction Corporation Location: Gotham Street, Watertown Project Cost: Undisclosed Hospice of Jefferson Countyâ&#x20AC;&#x2122;s new administrative offices and residential facility are situated on a 5.29-acre sloping site designed to maximize green space. The 19,000-square-foot building has a main entrance oriented due south with a long east/west axis that incorporates maximum solar glazing. This, combined with thermal mass-heat storage, adequate roof overhangs, and a superinsulated structure provide passive solar heating and cooling to augment the buildingâ&#x20AC;&#x2122;s mechanical systems. The buildingâ&#x20AC;&#x2122;s energy-management system controls

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multiple residential-scale furnaces with heat-recovery ventilation zoned for maximum efficiency. The main entrance, which is remotely monitored by the nursing staff, allows for access to the residential wing outside of normal business hours. All of the conveniences of home are incorporated to allow for an extended stay for the families of the residents. The setting and attention to detail will serve the needs of the staff and families of Jefferson and southern St. Lawrence counties for many years to come.

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12B • The Business Journal

a time to build

May 16, 2012

Category: Best Health-Care Facility (continued) THE STARDUST COMMUNITY BIRTHING CENTER Owner/Developer: Auburn Community Hospital Architect: HOLT Architects, P.C. Engineer: Argus Engineering, PLLC (M/E/P/FP), Ryan-Biggs Associates (structural) General Contractor: CONTECH Facilities • Location: Auburn • Project Cost: $1.4 Million Auburn Community Hospital has been actively seeking ways to target core services to the benefit of the larger Auburn community. The design team, working closely with the hospital, was able to put together a project that was affordable for the institution and community, and that also updated the space into a welcoming place to give birth. The scope of work involved the complete renovation of the existing obstetrics unit. The spaces consisted of five outdated postpartum rooms, an overly large nursery, a nonfunctional and remote

nurses station at one far end of the unit, and three labor delivery recovery postpartum (LDRP) rooms at the other end of the wing. Renovations altered the unit to include seven postpartum rooms, an LDR room, two exam rooms, a small nursery including an isolation nursery, a central nurses station, support spaces, and new waiting/ family areas. The Stardust Community Birthing Center provides a nurturing and secure environment for moms, new babies, and their family and friends.

Category: Best INDustrial project FOOD BANK RELOCATION AND REBRANDING Owner/Developer: Food Bank of the Southern Tier (FBST) • Architect: HOLT Architects, P.C. Engineer: DPC Engineering (M/E/P), Elwyn & Palmer Consulting Engineers (structural) General Contractor: The Hayner Hoyt Corporation Location: Pulaski • Project Cost: $10.6 Million In February 2011, the Food Bank relocated to a 65,000-square-foot facility in Elmira. Natasha Thompson, FBST president and CEO noted that the former 14,690-squarefoot facility was “… restricting our ability to effectively address the issues of hunger and food insecurity in the Southern Tier.” The Food Bank partnered with HOLT Architects to evaluate the program of the current facility, forecast future facility needs, and design

appropriate modifications to the new facility to best position the Food Bank for the foreseeable future. The design succeeded in meeting the two primary goals that the Food Bank identified. Programmatically, by strategically locating departments based on workflow and relations with the public, the project creates space that is functionally efficient for staff, and presents a welcoming and neighborly image to visitors

and volunteers. Conceptually, the challenge from the client was to create architecture that would convey

the image of a creative, innovative, and fiscally responsible architecture appropriate for the not-for-profit operation.

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A TIME TO BUILD

May 16, 2012

CATEGORY: BEST INDUSTRIAL PROJECT (CONTINUED)

The Business Journal • 13B

CATEGORY: BEST INSTITUTIONAL PROJECT

LANDMARK THEATRE STAGEHOUSE EXPANSION FULTON THERMAL EXPANSION

Owner/Developer: Landmark Theatre Architect: Holmes King Kallquist & Associates, Architects Engineer: Mechanical/electrical: Ram-Tech Engineering, PC; structural: St. Germain & Aupperle Consulting Engineers Construction Manager: Hueber-Breuer Construction Co., Inc. Location: Syracuse • Project Cost: $12.9 Million

Owner/Developer: Fulton Thermal Corporation Architect: MacKnight Architects & Planners • Engineer: Palucci Engineering General Contractor: The Hayner Hoyt Corporation Location: Pulaski • Project Cost: $10.6 Million

The historic Landmark Theatre was originally designed by Thomas Lamb in 1927. Although saved from demolition in 1975, the Landmark faced competition from other venues that threatened its long-term economic viability. The stage was considered too small for today’s performances. In response, The Landmark moved ahead with the Stagehouse Expansion project which doubled the stage area, increased its height by 25 percent, and enlarged spaces such as wardrobe and dressing rooms, all within the

footprint of the existing structure. This was accomplished without impact on the lobbies or auditorium and without loss of historic street scale and character. This was a challenging project requiring demolition of a large piece of a historic structure. Yet, the positive impacts far exceed the losses. The Landmark is in a better position to ensure its future economic viability and able to book more and larger shows. Furthermore, it is an excellent example of adaptive re-use without losing the character of the 1927 theatre.

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faced many hardships. The site had a high The Fulton Thermal Corporation expansion water table, creating difficulties when pouring project involved the addition of a 93,000-squareconcrete for the large manufacturing space foot manufacturing facility and a 20,000-squareand the foundations. Winter conditions were foot office area to the existing facility in Pulaski, especially harsh, even for Pulaski, and caused with the goal of establishing the facility as the many problems for the team while trying company’s global headquarters. The addition to enclose the building. During the fall and provides the company with more space to keep later in the spring, several rain events flooded up with its expanding business demands and the site creating schedule setbacks. Despite to provide the ability to fabricate the largest of these difficulties, the project was completed Fulton Thermal’s product lines. Sposato_FlooringCan_4.875x6.375_Layout 1 5/19/11 12:23 PM Page 1 2011. successfully in October The accelerated construction schedule

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14B • The Business Journal

A TIME TO BUILD

May 16, 2012

CATEGORY: BEST INSTITUTIONAL PROJECT (CONTINUED) LINCOLN CENTER ADDITION Owner/Developer: Southworth Library Association, Dryden Architect: HOLT Architects, P.C. • Engineer: Taitem Engineering, Ithaca General Contractor: LeChase Construction • Project Location: Dryden • Project Cost: $1.75 Million In 2009, the 200th anniversary of Abraham Lincoln’s birthday, the Southworth Library Association decided to auction an original handwritten manuscript of Lincoln’s 1864 reelection address through Christie’s of New York. The library had retained the artifact for more than 80 years and sold the piece in order to finance the new addition. The original building, designed in 1894 by William Henry Miller, a renowned regional architect, is on the National Registry of Historic Places. While architecturally striking, this small

rural library had struggled for years to provide service to a growing population. The library selected HOLT Architects to design the Lincoln Center Addition. After completing a programming phase, the project team confirmed that building footprint needed to be expanded to triple the square footage of the structure. Design commenced immediately. The project was bid in early 2010 and a Masonic groundbreaking ceremony marked the occasion in July. The project was completed one year later, on time and on budget.

ONONDAGA COMMUNITY COLLEGE SRC ARENA & EVENT CENTER Owner/Developer: Onondaga Community College Architect: Cannon Design Inc. • Engineer: C&S Companies General Contractor: LeChase Construction Project Location: Syracuse Project Cost: $24 Million Onondaga Community College (OCC) needed an arena and event center to accommodate expanding student enrollment and provide first-class athletic facilities to the student athletes. C&S Companies was selected to provide MEP, life safety, security, AV/communications, and site civil-engineering services. C&S’s construction management group was the program and construction manager and was involved from the project’s inception. Cannon Design provided architectural design, structural engineering, and LEED coordination.

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The new event center needed to fit between an outdoor turf stadium and the existing health and physical education building (HPE), while blending with the campus architecture. A 110,000-squarefoot building was constructed as an addition to the existing HPE building. The collaborative team faced a harsh winter in 2010/11, and added equipment and programs changed the design during construction. Even with these setbacks, the project was successfully completed and opened for business in December 2011, only a few months behind schedule.

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Project Type: Construction Management Size: 18,000 SF Schedule: 9 Months; completed on time Overview/Scope of Work: VIP Structures, Inc. (VIP) served as General Contractor for the New York City-based architectural firm Fiedler Marciano in the renovation of the former Gateway Building

located in Armory Square on So. West St. in Syracuse. Fiedler Marciano and VIP were challenged with designing and renovating the 18,000 sq. ft., three story, 110-year-old building into offices, a recording studio, rehearsal space and residential suites. Because of the age of the building, VIP needed to protect many turn-of-the-century elements while upgrading the structure for modern use. VIP worked closely with the architect to ensure that renovations preserved the integrity of the building while accommodating the owner’s specialized programming needs.

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A TIME TO BUILD

May 16, 2012

The Business Journal • 15B

CATEGORY: BEST PRESERVATION PROJECT

THE NIMO BUILDING ENVELOPE RESTORATION (NATIONAL GRID SYRACUSE OFFICE COMPLEX BUILDING “A”) THE COLGATE INN Owner/Developer: The Hamilton Initiative Architect: Holmes King Kallquist & Associates, Architects Engineer: Klepper, Hahn & Hyatt • General Contractor: The Hayner Hoyt Corporation Project Location: Hamilton Project Cost: $6.4 Million The Colgate Inn comprehensive rehabilitation and preservation project involved a complete interior and exterior renovation and several additions to the historic 87-year-old, 35,000square-foot inn located not far from the Colgate University campus in Hamilton. Work was performed to repair, modernize, and enhance the inn for both visitors and staff while maintaining and protecting its historic character. The majority of the inn was renovated during

a complete shutdown from December 2010 to April 2011. New finishes, fixtures, and furnishings were installed in each guest room. Several structural deficiencies were discovered and had to be corrected before construction could continue, which caused numerous delays and schedule shifts. The project team worked around the clock to keep the project on schedule and to get the inn open again for patrons and alumni in April.

Owner/Developer: National Grid USA Service Company Architect: Crawford & Stearns Architects and Preservation Planners Engineer: Klepper, Hahn & Hyatt (KHH) (prime designer) General Contractor: LeChase Construction; masonry contractor, Raymond E. Kelley, Inc. Project Location: Syracuse • Project Location: $8 million The NiMo Building design is recognized nationally as an outstanding example of the Art Deco style. The building, constructed in 1931-1932, is notable architecturally for its innovative design and massing and its inventive use of materials. KHH determined that the façade and exterior structure appeared to be in good condition, but a number of elements required remediation for safety, structural integrity, aesthetics, and the preservation of an important edifice. Among the remediation items undertaken by the KHH team was the replacement of a majority of the roofs. There are 20

separate roofed areas, comprising a total of approximately 20,000 square feet. For the façade restoration, the priority work included replacing deteriorated cast-stone elements; removal and replacement of coping stones to allow installation of proper flashings; repairing deteriorated sections of parapet walls; and removing all calking, sealants, and older repair materials which prevented moisture from escaping the walls. National Grid also elected to replace all the windows with historic replicas to provide more energyefficient units as well as to restore the original appearance of the building.

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16B • The Business Journal

A TIME TO BUILD

May 16, 2012

CATEGORY: BEST PRESERVATION PROJECT (CONTINUED)

SUBCAT STUDIOS Owner/Developer: 219 South West, LLC • Architect: Fiedler Marciano, LLP Engineer: Environmental Design & Research, PC (civil), Ryan-Biggs Associates, PC (structural), JFK&M Consulting Group, LLC (mechanical/electrical) • General Contractor: VIP Structures, Inc. Project Location: Syracuse • Project Cost: $3.8 Million VIP Structures, Inc. (VIP) served as general contractor for the New York City–based architectural firm Fiedler Marciano in this renovation of the former Gateway Building located in Syracuse’s Armory Square. The turn-of-the-century, three-story brick building was converted into offices, a state-of-the-art recording studio, rehearsal space, and residential suites. Because of the age of the building, VIP was challenged with protecting many historic elements while upgrading the structure

Millions of taxpayer dollars are wasted on public work projects because of state government’s anti-competitive approach to construction.

for modern use. VIP worked closely with the architect to ensure that renovations preserved the integrity of the structure while accommodating the owner’s specialized programming needs. The SubCat Studios project was featured in the February 2012 issue of Interior Design magazine and in the August 2011 issue of World Architecture News. It was honored in March 2012 with a Merit Award from the New York Chapter of the American Institute of Architects (AIANY) during its 2012 AIANY Design Awards program.

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A TIME TO BUILD

May 16, 2012

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The Business Journal • 17B

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A TIME TO BUILD

May 16, 2012

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May 16, 2012

a time to build

The Business Journal • 19B

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CN Y B J. In print •

On-line C O M • In-pe rson

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20B • The Business Journal

a time to build

May 16, 2012

We love being part of Central New York’s growth. Looking forward to helping even more businesses in this area thrive! Soon we’ll have �� locations in Central New York for your convenience. But already we’re honored to have been able to fund so many important area projects. Like helping Wilmorite build new housing for Syracuse University students. Financing PEMCO Group Inc.’s new office development for Aspen Dental. Working with St. Joseph’s Hospital on its new Medical Office building. And helping Pioneer Companies revitalize Syracuse’s Washington Station. We can’t wait for even more opportunities to lend a hand to the businesses, families and communities that make this area such a great place to live and work.

To learn more about the expansion or our national award-winning business services,* visit any branch or FirstNiagaraCNY.com! *Recognized for our excellence in business banking by Greenwich Associates (global financial services research firm), �����

© ����First First Niagara Niagara Bank, N.A. MEMBER FDIC FDIC

Central New York Business Journal 5/11/2012  

Central New York Business Journal 5/11/2012

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