L NE W
Revamp: Grant boosts new nurse residency program at Bassett. Page 3.
On the Rise: Study shows manufacturing export growth. Page 2.
BUSINESS JOURNAL C
Vol. XXV • No. 34
August 26, 2011
Visions FCU to expand into New Jersey with merger
Robert Congel, managing partner of the Pyramid Companies, standing in Armory Square. The firm is the largest mall operator in the Northeast.
BY KEVIN TAMPONE JOURNAL STAFF
ENDICOTT — The expansion of Visions Federal Credit Union (Visions FCU) into New Jersey will give it access to a younger population and a growing market, its leader says. Visions FCU’s merger with Paragon Federal Credit Union of Montvale, N.J. (located near the New York border) should close in the next 90 days. Paragon brings Visions six branches in Northern New Jersey, $330 million in assets, and more than 42,000 members. Visions FCU has been looking to expand to markets with better prospects for growth, CEO Frank Berrish says. Most of the credit union’s branches are in the Southern Tier — not a growing area, he says. Demographics are also working against the institution, Berrish adds. The region’s populaBerrish See VISIONS, page 6
RMS expands its Baldwinsville call center BY KEVIN TAMPONE JOURNAL STAFF
BALDWINSVILLE — Research & Marketing Strategies, Inc. (RMS) has expanded its call center after growing and adding employees in
ERIN ZEHR/THE CENTRAL NEW YORK BUSINESS JOURNAL
Bob Congel’s ‘green journey’ BY NORMAN POLTENSON JOURNAL STAFF
SYRACUSE — Robert J. (Bob) Congel’s “green journey” began in the early 1960s when he graduated from Fordham University. Following in the footsteps of his father and grandfather who both worked in the building industry, he launched his own business with a pickup truck and $175 in his pocket. Since the nation was then focused on clean water, he initially became a water-remediation contractor before breaking into the real-estate development business with a focus on regional and super-regional shopping centers. Today, Congel, the managing partner of the Pyramid Companies headquartered in Syracuse, is the largest mall operator in the Northeast. Pyramid
built, owns, and operates 14 shopping centers in New York and four in Massachusetts, totaling nearly 20 million square feet with another 5.4 million square feet of expansion under development. To date, Congel has invested $1.2 billion just in Syracuse developing Franklin Square, the former main post office at Clinton Square, the removal of oil city, and the construction of the Carousel Center. His early experience with conservation set the stage for his growth into an environmentalist. Congel’s passion for creating an effective balance between the environment and business was channeled at a design meeting held over two days in April 2002. The purpose was to bring together See CONGEL, page 4
See RMS, page 14
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manufacturing exporter over the last decade by growing exports 2
by a compound annual rate of 4%. A key factor to New York’s
• The Central New York Business Journal
CNYBJ.COM BRIEFS News of note for and about Central New York businesses
Liberty Electric buys DeWitt property for $450,000 DeWITT — Liberty Electric Sales, a professional sales organization representing manufacturers of electromechanical, electronic, automation, sensing, and electric heating products, recently purchased the 9,459-square-foot office building located at 113 Twin Oaks Drive in DeWitt. Liberty bought the property for $450,000 in June and will occupy approximately 4,500 square feet. Pyramid Brokerage said it will be representing the company and leasing out the remaining 5,000 square feet after major renovations have been completed. Bill Evertz, Lee Salvetti, and Kimani Smith of Pyramid Brokerage Company brokered the property sale.
Real-estate firm expands to Ithaca
August 26, 2011
success in manufacturing exports is that it exports a relatively
Study: N.Y. manufacturers’ exports grew 44 percent over the last decade high percentage of goods that it manufactures. Compared to
Manufacturing Export Intensity by State (2008)
other states, New York’s export intensity (exports divided by value of shipments) is the third-highest.
By Adam Rombel
1 Florida Journal Staff 39% 2 Washington SYRACUSE — New York 38% manufacturers increased exports by 44 percent over the New York 35% emerging last3 decade largely by tapping markets. 4 Vermont 33% That’s according to a new study from the5 Manufacturing Research Institute of Nevada 32% New York State (MRI). The study, called “Manufacturing: to New York 6 Arizona The Key 30% State’s Export Growth and Economic Success,” suggests that the manufactur7 Massachusetts 27% ing sector has generated 80 percent of the 8 Texas 27% state’s exports and contributes significantly to New York’s overall export growth. 9 Idaho The study, conducted by 24% Robert Fisher of FTI Consulting in Washington, D.C., 10 California 24% shows that New York ranks third among all states in total manufacturing exports, Source: Surveyand of California. New behind Annual only Texas Manufactures, U.S. Census Bureau; York generated $54.2 billion in manufacturTradeStats Express, ing exports in 2010,International up from $37.5 billion in Trade 2000,Administration a compound annual growth rate of 4 percent, according to the study. Over the last 10 years, the Empire State has rapidly increased its manufacturing exports to emerging markets such as Israel, Hong Kong, China, and India. The largest portion of the growth involved jewelry and diamond exports to emerging markets. Other export growth industries included machinery, chemicals, automobile engines,
NY State Manufacturing Exports
$60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $‐ 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Source: TradeState Express, International Trade Administration
Source: TradeStats International Trade Administration. medical equipment, fuelExpress, oil, and petroleum place in 2000. That’s a 9 percent compound
coke, the study found. annual growth rate, with jewelry and diaCanada remains the biggest export mar- monds contributing to most of the increase, ket for New York’s manufactured goods, according to the report. accounting for $8.7 billion in exports in Hong Kong moved up to number three 2010. But, New exports decline to its northin 2010 eighth place in 2000 as a Except for anYork expected in 2009 duefrom to the recession, ern neighbor declined from $9.2 billion in destination for New York5 manufacturing Even New over the last decade. 2000. York exports steadily climbed exports. Exports to Hong Kong grew from Meanwhile, Israel moved up to the num- $1.4 billion to $4.1 billion in the last decade, with theexport decrease werecompound 44% higher ber two marketthat for year, Empire2010 State exports a 12 percent annual than growth rate. manufactured goods in 2010 with $4.1 bil2000 levels. See study, page 15 lion in exports, up from $1.8 billion and fifth
ITHACA — A new real-estate firm is open in Ithaca, owned by New York and Pennsylvania broker Tom Mullen and associate broker Matt Mullen. United Country - Finger Lakes Real Estate is the second office operated by Tom Mullen & Associates of Waverly. The United Country office is at 225 S. Fulton St. The office also employs Tompkins County native Morgan Holgate. SURROGATE’S COURT PROC EDURE ACT ARTIC LE “We are eager to extend our reach be21. M ISC ELLAN EOUS PROC EEDI NGS yond the Southern Tier of New York and SEC. 2108. PROC EEDI NG BY FI DUC IARY FOR CONTI N UATION OF A Pennsylvania by opening an office in the BUSI N ESS Finger Lakes region,” Matt Mullen said in a A fiduciary may petition for the continuation of a business other than a profession, of which decedent or the person whose estate is being administered was sole owner and it is desired news release. “Specializing in lake frontage, to continue it for the best interests of the estate; provided, however, that a fiduciary may land, as well as residential and commercial petition for the continuation of a deceased dentist’s practice for a period not to exceed eight months, if such practice is continued by a person licensed to practice dentistry in this state. properties, United Country - Finger Lakes In such proceeding: creates opportunities for both real estate (1) If the petition be entertained the court may make an intermediate order without sellers and buyers to work with a company notice authorizing continuance of the business pending the return of process and final decree. with a proven track record of success and ac(2) Any respondent may serve and file an answer within 8 days after the return of complishment.” process or such further time as the court directs. After inquiring into the facts and 5 United Country is a network of convenhearing the parties, if the court is satisfied the best interests All of theexport estate require the figures in this study are Total Exports (domestic exports plus recontinuation of the business, it may make a decree accordingly. tional and auction real-estate professionals exports) on a Free Alongside Ship (FAS) value basis. (3) The decree may provide such restrictions, conditions or requirements and such in the United States. Based in Kansas City, incidental relief, including a direction or permission for incorporation of the business, Mo., the company supports about 600 ofas the court may order. fices in the U.S., Costa Rica, Panama, and (4) Whenever a fiduciary shall be authorized under this section to continue a business in other than corporate form the decree shall provide for the extent of the liability of the assets Mexico. of the business and the assets of the estate apart from the assets of the business for debts and Through the affiliation with United other liabilities arising out of its continuance. The court may make such directions in this Country, the office in Ithaca also offers home regard as it deems advisable in the circumstances. The decree shall further provide for the Page www.mrinys.org period of time for continuance. warranties, mortgages, land financing, tax, (5) If under a decree granted under this section a fiduciary shall continue and carry and other services related to real-estate on a business other than in corporate form he shall file a certificate of doing business transactions. under an assumed name pursuant to the provisions of section one hundred thirty of
New York State’s
2010 manufacturing exports were 44% higher than 2000 levels.
the general business law. The certificate shall include in addition to the other matters required by that section a statement showing the fiduciary capacity in which he is conducting and carrying on the business and the extent to which the debts and other liabilities incurred in the continuance are to be chargeable to the assets of the estate as provided in the decree. The fiduciary shall be relieved of personal liability if acting within the authority granted and having filed the certificate above provided, but shall be liable only in a fiduciary capacity. Any person having a claim, demand or cause of action arising out of or in connection with the conduct of the business after the filing of the certificate above provided shall thereafter be limited in the payment or satisfaction of such claim, demand or cause of action to such assets as are made available for the payment or satisfaction of debts and liabilities in the decree, provided, however, that nothing herein contained shall relieve the fiduciary from personal liability for the consequences of his own wrongful act or negligence in the continuance of the business and provided further that nothing herein contained shall render ineffectual any provision in a will or other instrument directing or permitting the continuance of a business.
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The Central New York Business Journal • 3
August 26, 2011
Grant boosts new nurse residency program at Bassett BY TRACI DELORE JOURNAL STAFF
COOPERSTOWN — A new grant has led to a revamped nursing residency program at Bassett Medical Center in Cooperstown that should result in improved nurse retention and a more competent and satisfied nursing staff. Bassett has had a six-month nursing residency program in place, says Connie Jastremski, chief nursing officer, but the $703,153 grant from the Health Resources and Services Administration has allowed the hospital to expand the program to a year-long one. That’s more beneficial to the hospital and to the new nurses who participate in the program, she says. “It’s not enough to really give them the day-to-day exposure nurses need,” she says of nursing school and shorter orientation programs. Having a full year of extra training, resources, and a sounding board helps make sure all Bassett’s nurses are on the right path, Jastremski says. “We want to make sure everyone has the same skill sets,” she says. “We have nurses that come from very different programs.” Some graduate from two-year programs, some from four-year programs, and some from accelerated programs, she says. Working together with instructors and their own mentor while on the floors makes sure everyone understands and follows Bassett’s protocols. It also helps Bassett determine if a particular nurse needs additional training in any areas, Jastremski says. With about 300 nurses on staff, it’s important that everyone is up to speed, she says. Jastremski also hopes the program will help boost job satisfaction for the nurses not only by giving them additional skills through the training, but also by providing a place where they can share their opinions about Bassett. A key part of the revamped
PHOTO COURTESY OF BASSETT MEDICAL CENTER
From left to right: Bassett nurses Alyzia Madsen, Colleen Easton, Amy Bagetis, and Amy Townsend. A new grant has led to a revamped nursing residency program at Bassett Medical Center. residency program is asking the new nurses, who bring a fresh pair of eyes to Bassett, what they think is working and what isn’t, Jastremski says. The residency program also gives nurses the opportunity to look at different areas of the hospital and receive some basic additional training and experience in those areas such as obstetrics or the operating room. Many of those positions require additional formal training, but the residency program allows nurses to see if they really want to work in those areas before they go ahead and pay for more schooling, Jastremski says. Her hope is that those features boost the morale of the nursing staff, which will, in turn, lead to a higher retention rate for nurses, she says.
“Retention is really important,” she says. Bassett’s current turnover rate is about 10 percent annually as nurses retire or move on to other positions, she says. Jastremski says she’d like the rate to return to 8 percent, or less, where it was about three years ago. She also hopes the new residency program will help make Bassett an attractive employer to new graduates. Many hospitals
won’t hire new graduates, preferring to hire experienced nurses, Jastremski says. The residency program, designed for the new nurse who has just finished schooling, makes Bassett an appealing candidate as an employer because the new nurses know they won’t start their job without some additional guidance and help, she contends. So far this year, Bassett has hired 42 nurses who will participate in the new residency program. The hospital has a nursing vacancy rate of about 4 percent, Jastremski says. Bassett Medical Center is part of the Bassett Healthcare Network (www.bassett. org), the operating name of the Mary Imogene Bassett Hospital. Along with the center in Cooperstown, the network includes the Bassett Physician Group of 250 physicians and 150 advanced-practice professionals, 23 health-care centers, 18 school-based health-care centers, and six hospitals operated by Bassett or in partnership with other health-care providers. Bassett employs 3,529 people and generated revenue of $366 million and expenses of $364 million, according to its 2009 Form 990 on file at www.guidestar.org. The Health Resources and Services Administration is part of the U.S. Department of Health and Human Services and is the primary federal agency for improving access to health-care services for people who are uninsured, isolated, or medically vulnerable. Contact DeLore at email@example.com
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• The Central New York Business Journal
August 26, 2011
CONGEL: Destiny insists that all 100 tenants of the new building be LEED-certified Continued from page 1
multiple disciplines in order to discuss a new project called Destiny USA (Destiny), a mega retail-and-entertainment complex located on 134 acres abutting Onondaga Lake. Destiny, the New York State Energy Research and Development Authority, The New York Indoor Environmental Quality Center, and Syracuse University hosted the meeting at Savannah Dhu, Congel’s private retreat west of Syracuse. As Congel recalls, “… my plans were to greet the ‘green people,’ stay for 30 minutes to be polite, and then leave … Two days later, I was still at the meeting and totally committed to changing the way all development is done.” In 2004, Congel created the position of director of sustainability for the new Destiny project to oversee all green initiatives as well as to focus on applying their environmental lessons to other existing and future properties. He hired Melissa Anne Perry, who had spent the previous 11 years in sales and marketing for Oneida, Ltd. Perry says she never “… had a need to sell Bob Congel on sustainability … He’s the one pushing the envelope.”
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In late 2005, David M. Aitken, a member of the Destiny executive team, received a phone call from the Environmental Protection Agency (EPA) asking to work with Destiny, which was one of the largest development projects in the country. Aitken says his first reaction was to hesitate, restrained by the image of “I’m from the EPA and we’re here to help.” Despite any initial reservation, the
photo courtesy of destiny
Melissa Perry, Destiny’s director of sustainability, gives a presentation on the expansion and green initiatives the firm is undertaking. preliminary conversation with the EPA led Congel in September 2006 to sign a memorandum of understanding (MOU) with Alan J. Steinberg, the regional administrator of EPA Region 2, which includes New York and New Jersey. The voluntary agreement, which contained no contractual or financial obligation, spelled out a joint-collaborative effort to use the Destiny project as a model of sustainable development. The purpose of the MOU was to demonstrate to other developers and building professionals that “green building can provide far-reaching economic and environmental benefits.” In 2007, Destiny received a pre-certification from the U.S. Green Building Council (USGBC) for LEED-Gold status based on its
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phase-one, 850,000-square-foot expansion of \ the Carousel Center. LEED, a rating system for buildings created by USGBC, assigns points in areas such as water efficiency, renewable-energy usage, air quality, recycling, brownfield redevelopment, building reuse, alternative transportation, and constructionwaste management. Destiny set a goal for itself — the goal of recycling 95 percent of all building materials during phase one of construction. To date, the project has achieved 90 percent, including recycling tons of asphalt to be reused as binder in the new roads and parking area. Destiny also required that 30 percent of all concrete be made of fly ash, the residual material produced by coal-powered plants. All of the marble removed during deconstruction was donated to Habitat for Humanity for resale; many of the parking signs are made of diaper scraps, utilizing the material wasted during the manufacturing process; and even the old PCV piping was converted into reusable pallets. The recycling effort diverted 7,000 tons of debris from landfills. The MOU spelled out 100-percent use of biofuels in all equipment used to prepare and build the exterior. To accomplish this, Destiny assembled a variety of stakeholders including contractors, engine manufacturers, mechanics, owners, and even a ranger from Yellowstone National Park to demonstrate that the goal could be achieved. The skeptics were convinced only when Congel guaranteed replacing any engines that failed because of biofuels. The fuel propelling the vehicles, which was 100-percent derived from soybeans, prompted a number of heavy-vehicle operators to say that the odor of food was far more pleasing than inhaling traditional diesel fumes. Indoor-air quality was another concern of Destiny. Materials used in the construction process were brought to the site sealed against contaminants, dust, and mold. The 4,000 dampers and their seals were also protected until installation, and any carpeting was recycled with a requirement that the manufacturing process use only low-levels or zero levels of volatile organic compounds. Destiny also made a commitment to use sustainable energy. The solar panels on the all-white roof will generate 10 percent to 12 percent of the building’s energy requirement. The rooftop wind turbines add another dimension of sustainable energy. The bulk is provided through a contract with Constellation Energy for “clean energy,” for which Destiny actually pays a modest premium. The only fossil fuel used in the entire
complex is natural gas for the food-service businesses located on the premises. Water conservation is another major focus of Destiny. The 850,000-square-foot addition to the Carousel Center has 60 siphons placed strategically on the 390,000-squarefoot roof. The siphons collect 4 million gallons of rainfall annually and drain the water into a storage-and-retention basin located adjacent to the structure. The water is then pumped back into the building, chlorinated and subjected to ultraviolet light, and then used for flushing toilets. The net result is a 50-percent savings over conventional buildings of a similar size. Destiny also insists that all 100 tenants of the new building be LEED-certified, meaning that their building materials must pass the “green test.” Congel has already insisted that all cleaning and restroom products for Destiny’s housekeeping be “green-seal” certified. Congel’s focus on sustainability has also focused Destiny on promoting alternative modes of transportation. To this end, the developer is building 200 bicycle racks for visitors and employees, plus providing showers for the cyclists, and also planning to set aside preferred parking for those driving fuel-efficient vehicles. In 2010, Destiny was the largest LEEDgold certified commercial retail building in the country. When the new addition opens next spring, the 2.4-million-square-foot complex will be the fifth largest in the USA, reaching out to 5.5 million residents within a radius of 250 miles of Syracuse. Carousel Center, which opened in 1990 and is 95 percent leased, currently draws 20 million visitors annually who spend $400 million. Forty-one percent of shoppers at Carousel come from outside Onondaga County, including more than 10 percent from Canada. When phase one of Destiny opens, Oxford Economics projects that 29 million visitors will shop annually at the complex’s 175 tenants and will employ 5,200 people. Between 1990 and 2010, the Carousel Center has generated $7.2 billion in sales, of which $625 million has gone to government entities. Congel says he has “… spent the last 18 years on Destiny assembling the property, negotiating a PILOT, qualifying for the Empire Zone, applying for an environmental clearance, and financing the project.” In offthe-record conversations with this reporter, some of his peers have stated that anyone else would have abandoned the project, declared bankruptcy, and moved on. Not Bob Congel, who says, “I was born in Syracuse … I grew up on the North side near the Destiny project … I have 21 grandchildren … I’m committed to the area and to going green.” When asked why other private developers are reluctant to go green because they don’t see an acceptable return on their investment, Congel says with a smile, “We do development that doesn’t make sense. It’s the right thing to do.” He then adds, “There is a payoff … I answer to my own conscience.” In July, Congel’s team concluded an understanding with the New York State Department of Environmental Conservation for the brownfield cleanup of all 134 acres of the Destiny project. While awaiting the official certification of eligibility for brownfield credits, it’s clear that Congel’s passion to make a difference in his hometown is undiminished. It’s also clear that any difference will be part of his continuing green journey. Contact Poltenson at email@example.com
The Central New York Business Journal • 5
August 26, 2011
Lobbying Regulations for Nonprofits “Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.” — Oscar Ameriger
ho could have ever imagined that our federal elected representatives would debate a default on the federal government’s obligations? The economy, the European debt crisis, and the sluggish economic recovery have created a “perfect storm” for not only the federal government, but also for state and local governments. It is obvious that the current global economic crisis will continue to have a major impact on health and human-services spending as our goveconomic exNONPROFIT ernment perts try desperately to MANAGEMENT maneuver the country, and perhaps the globe, to avoid a repeat of the 1930s. As a business adviser and economic historian, I have always been intrigued by the fact that the United States economy has repeated its “panics and depressions” every 70 to 80 years. October 2009 was the 80th anniversary of the Wall Street crash that led to the Great Depression. It is ironic that in March 2009, the equity markets bottomed and then rallied significantly into 2011, until recently. This has been in spite of all of the head-
GERALD J. ARCHIBALD
winds facing the U.S. and the economy. If you look at the history of the U.S. economy of the 1930s and the Japanese economy over the past two decades, we may very well be in a long and slow climb out of the current environment of high unemployment, budget deficits, and continued reductions in government services. Let’s hope and pray that, in this instance, we do not repeat the 1930s or the Japan experience. Enough of the history and economics lesson, you may say. What is your advice for New York’s nonprofit organizations in facing the economic and funding challenges that lie ahead? The federal government is not the only nonprofit financing engine that faces the need for serious budget cuts. Gov. Andrew Cuomo and the New York State Legislature recently passed a budget that included a significant reduction in health and human services, as well as arts and cultural funding, which were unprecedented. Predictions are that at the least the next two state-budget cycles will be more difficult than the recently adopted budget. Whenever the federal and state governments face significant deficits, it inevitably leads to budget cuts at the county and local government levels. Since government funding can easily represent more than 75 percent of the revenue received by a vast majority of nonprofit organizations, the government’s budget pain has the potential to represent a funding tsunami for the nonprofit sector. For example, in New York State’s $50 billion Medicaid program, the federal government pays roughly half of the total bill. Protecting the future flow of govern-
ment funding to service providers will be a major responsibility for nonprofit managers and board members. Gov. Cuomo’s Medicaid Redesign Team (MRT) recently adopted 79 extensive reform measures to both reduce and cut the rate of growth in the New York State Medicaid program. These 79 recommendations provide both a preview and a roadmap to what health and human-services providers may expect in future budget cycles. The MRT report is available on the Internet at http://www. health.state.ny.us. This situation leads me to the main topic for this column — the dos and don’ts of lobbying and related political-networking activities for nonprofits. Internal Revenue Service regulations in these areas are extensive and complex. Every nonprofit must be aware of these requirements, and through an internal regulatory compliance program, the organization’s policies and procedures must ensure ongoing compliance with IRS regulations. Your organization must address the requirements in this area. First, the government-funding situation described above should prompt decisive and increased activity regarding nonprofit board and management involvement and networking with elected political officials. Therefore, if you choose to follow this recommendation, your activities and expenditures in lobbying political officials must consider the current regulatory requirements described in this column.
General Lobbying Rules
(3) organizations, in order to qualify for taxexempt status, can have no substantial part of the organization’s activities representing the carrying on of propaganda or otherwise attempting to influence legislation. In 1976, a provision of the Tax Reform Act was adopted by Congress establishing IRC Section 501(h) and Section 4911, which provide for an alternative test for charitable entities to determine compliance regarding lobbying activities. Consistent with the excise taxes related to political-campaigning activities and expenditures, there are also additional excise taxes that may apply to lobbying expenses of charitable organizations. Unfortunately, as is often the case, the IRC does not provide any clear definitions of what constitutes “attempting to influence legislation or the amount that is deemed substantial.” What is clear is that the IRS regulations state that attempts to influence legislation include direct lobbying such as direct communication to members of the legislature as well as indirect or grass-roots lobbying through communications from the general public. In the final analysis, whether a communication is an attempt to influence legislation is determined on a facts-andcircumstances basis. Two court cases provide guidance on the definition of substantial lobbying activities. In Seasongood v. the Commissioner, the Tax Court held that attempts to influence legislation of 5 percent of total activities were not substantial. More recently, in Haswell v. the United States, the Court of Claims determined that expenditures ranging from 16 percent to 20 percent of total activities were substantial. These two cases establish a floor and a ceiling, for guideline purposes only, regarding lobbying regulations.
Since 1934, the Internal Revenue Code (IRC) has provided that charitable 501(c)
See ARCHIBALD, page 12
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• The Central New York Business Journal
August 26, 2011
VISIONS: Employs about 320 people total Continued from page 1
international trade opportunities in today’s global economy The shifting global economy presents both opportunities and challenges for local businesses. Join HSBC and The Central New York Business Journal for an informative panel discussion on how businesses like yours can more effectively manage through market volatility and the new global economy. Benefit from discussion with senior executives, who will provide an in-depth look at today’s global markets. Learn from business peers who successfully expanded abroad. Our panel of experts will share their experiences, and focus on what works and what doesn’t work in today’s competitive international environment. This Business without Borders breakfast seminar is an
tion is aging and young people tend to leave. That leaves Visions with more savers than borrowers. The credit union needs to keep adding loans so it can continue to pay solid dividends to its members, Berrish says. “Our biggest export in Broome County is younger people,” he says. “They seem to go elsewhere. We don’t see that changing in the near term.” Northern New Jersey’s young population is expanding, Berrish says. High housing costs in New York City are driving more people to outlying areas. Visions FCU has $2.6 billion in assets and 23 locations in the counties of Broome, Chenango, Tioga, Chemung, and Schuyler and the cities of Syracuse and Rochester. Visions has a branch in Bradford County, Pa. as well. Its Syracuse branch office is located at 500 Erie Blvd. W. The credit union has more than 127,000 members. “By joining Visions — one of the premier credit unions in New York — we are providing our members with access to a significantly broader menu of products and services,” Paragon President and CEO John Fiore said in a news release. “In addition, Visions robust delivery systems such as state-of-the-art home banking with remote deposit check scanning, bill payment services, account aggregator services, Quicken data extracts, online account opening, and loan application capabilities, as well as an advanced mobile banking platform, will mean greater convenience
for our members.” Fiore was out of the office and could not be reached for further comment. Paragon was having financial difficulties, Berrish says, and ultimately decided to look for a merger partner. The credit union lost more than $8.1 million in 2010 and was losing money again this year, according to its financial data on the National Credit Union Administration website. Visions beat out several other institutions interested in merging with Paragon, Berrish says. As a result of its financial issues, Paragon was in a holding pattern, Berrish adds. There is strong potential to grow its membership, loans, and assets. “The potential is definitely there to be over $500 million [in assets] probably in the short term,” he says. “We’ll be a small player in a big market.” Paragon has about 90 employees. Visions hasn’t met with all the employees yet and Berrish says he’s not sure yet whether Visions will retain all of them. Visions FCU employs about 320 people. It’s no secret the entire financial industry is going through a challenging time, Berrish says. Visions has been approached by 15 credit unions looking for a merger partner in the first quarter alone and bid unsuccessfully on one other. Visions FCU generated more than $24.8 million in net income last year. It ended 2010 with more than $1.4 billion in loans and over $2.2 billion in deposits. Contact Tampone at firstname.lastname@example.org
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August 26, 2011
The Central New York Business Journal • 7
Insurance SPECIAL REPORT
& FINANCIAL PLANNING
Workers’-comp firm expands to Syracuse By Kevin Tampone Journal Staff
SYRACUSE — An insurance brokerage and third-party administrator based in the Albany area is expanding to Central New York. Triad Group of Troy specializes in management of workers’-compensation claims for municipalities and school districts. The firm also has offices in Uniondale and Armonk. Its new Syracuse location at 211 W. Jefferson St. in Armory Square will employ three people initially with plans for expansion in the future. Triad’s Albany–area office began with 10 people and how has 28, Triad President Victoria Manes says. She says she’s planning for similar growth in the Syracuse area. Companywide, Triad employs more than 40 people. Manes founded Triad with her father and brother in 1985. She spent most of her time practicing law and had a limited role with the company until her father and brother died and she took over in 2001. Since then, she’s managed to grow
the business considerably. Triad had just four employees when she became president. “I think our success is predicated on a pragmatic approach to the real world of job injury claims,” Manes says. “It’s a challenge to employers unquestionably in New York state.” Triad has been able to expand by providing its clients authoritative knowledge and understanding of workers’ comp, she adds. That’s the best way to help them manage the issue. Triad plans to do business throughout the Syracuse area from its downtown location. Manes first hired an employee in Central New York about a year ago. The three people who will staff the new office were already working for Triad from their homes. Manes notes there are a number of insurance-related businesses in Central
New York. “I think there’s a great labor pool here,” she says of the Syracuse
area. Much of Triad’s work is in the public sphere. Its specific area of expertise is municipalities with claims from uniformed service members like firefighters and police officers. “Those positions are obviously very high risk,” Manes says. As a result, they carry an enhanced benefit for injured workers. That’s a large cost for local governments, Manes says, and so a company like Triad with the ability to manage those claims well is attractive. Triad has several nurses and legal experts on staff who are versed in claims from police officers and firefighters, Manes says. Municipalities everywhere are facing
Triad plans to do business throughout the Syracuse area from its downtown location. It first hired an employee in Central New York about a year ago. tough choices on where to cut costs, she adds. The need to reduce workers’comp costs certainly offers opportunity for Triad, she says. Triad does have some clients in the private sector as well, she adds. The firm is currently managing claims for a group of self-insured owner-operators of McDonald’s restaurant locations. q Contact Tampone at firstname.lastname@example.org
Independent insurance agents and brokers hold market share in N.Y. Small businesses competing well against big companies’ advertising
ndependent insurance agents and brokers in New York had success above the national average in grabbing property-casualty market share in 2009. According to the Independent Insurance Agents & Brokers of New York (IIABNY), a recent study shows that the state’s independent producers have market shares greater than the average state in personal insurance and right at the average for commercial insurance. Independent insurance agents and brokers are small businesses that sell policies on behalf of multiple insurance companies.
They compete in the insurance marketplace against agents that represent only the companies that employ them (for example, State Farm and Allstate agents). They also compete against companies that sell insurance over the phone and the Internet and do not employ agents, such as GEICO. The IIABNY compiled the 2009 marketshare study from premium data provided by A.M. Best Co. In personal insurance (policies sold to individuals and households, not including life and health), the study showed that insurance companies selling policies through independent agents and brokers had a 38.05 percent share of the premiums in New York in 2009. This was nearly 4 percent better than the national average of 34.3 percent. In commercial insurance (sold to businesses, governments, and other organizations), independent-
Your local source for business news and information
agency companies garnered a 79.71 percent market share in New York, compared to a national average of 79.43 percent. For personal and commercial insurance combined, independent-agency companies had a VIEWPOINT 2009 market share of 62.24 percent in New York, well above the national average of 56.8 percent. “This study proves that New York independent insurance agents and brokers are doing a great job at meeting the needs of their clients,” said Richard A. Poppa, president and CEO of IIABNY. “Their com-
petition spends hundreds of millions of dollars each year on advertising. Independent agencies don’t have marketing budgets anywhere near that size, yet they still write larger shares of the business in New York than do their peers in the average state.” “Independent insurance agents and brokers offer their clients a mix of professional advice and several companies from whom to buy coverage,” Poppa added. “These results show that insurance buyers in New York appreciate and trust the expertise that independent agents and brokers offer.” q
Tim Dodge is the director of research and media relations with IIABNY in DeWitt. Contact him at email@example.com. This Viewpoint is drawn from a news release IIABNY issued in July.
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INSURANCE & FINANCIAL PLANNING
• The Central New York Business Journal
August 26, 2011
How to Maximize Long-Term Investment Returns I
recently read two articles that provided insight on how investors should respond to a market downturn. The first was Richard Ferri’s “The Power of Passive Investing” in the Journal of Indexes. He said, “Morningstar weighed in with a comprehensive study on dollar-weighted versus time-weighted returns. It calculated the 1-, 3-, 5- and 10-year, time-weighted returns and dollar-weighted returns through 2009 for open-end mutual funds based in the United States. “The Morningstar study found significant deficiencies in investor timing decisions. U.S. equity-fund investors experienced a negaMAROTTA tive 1.4 percent gap in ON MONEY return over 10 years, while bond-fund investors experienced a negative 1.3 percent gap over the same period. In aggregate, the timing gap was negative 1.5 percent across all asset classes and sectors.” A time-weighted return is measured by how the fund performed with the dollars it had. It weights each time period equally as though someone remained invested continuously. A dollar-weighted return looks at the inflows and outflows of the fund. It puts a greater weight on the periods when people had more money in the fund and
DAVID JOHN MAROTTA
less weight when they had less money in the fund. Simply put, investors did not experience the full return of the fund because they moved into the fund after it went up and moved out after it went down. By trying to chase returns, their portfolio underperformed the very funds they were invested in by about 1.5 percent. So, if investment advisors simply dissuade clients from chasing returns and moving in and out of what might otherwise be good funds, they may earn their fee and then some. This is just one benefit of a disciplined approach to investing. Financial advisors perform a service when they dissuade people from impulsive decisions that feel right emotionally but statistically are a bad idea. The average investor puts money into funds that have done well and takes money out of funds that have performed poorly. Using recent past performance to pick investment vehicles often means buying high and selling low. This is one reason that the average mutual-fund holding period is three years or about one typical market cycle. Changing funds that frequently is a poor investment philosophy. You should select funds because they represent an asset class you want in your allocation for the long term. Then you should pick a fund that tracks the index well and has extremely low expense ratios. Investors who choose funds based on recent past performance often keep inferior
funds simply because the market is rising. Or, they drop superior funds just because the market has corrected. Make the decision to select a specific asset class based on the long-term characteristics of that subset of stocks. Size, style, sector, or country are all possible characteristics you may choose to over- or underweight. Having made the long-term asset allocation, find the fund that best tracks that index for the lowest cost and stick with it. If you are confident about your long-term asset allocation, and one of your selections underperforms the rest of your portfolio, respond by rebalancing your holdings. As a result, you will buy more of the funds that have declined in price.
The “efficient frontier”
The second interesting article I read was “Incorporating Time into the Efficient Frontier” by David M. Blanchett in the Journal of Financial Planning. His study builds on the idea that “the longer an investor holds equities, the more the compounded average return tends to converge toward the long-term average.” Normally, an expected investment return is selected by the expected real return versus the expected risk as measured by the standard deviation. Portfolios on the “efficient frontier” offer the highest possible expected return for a given amount of risk or volatility. Many investors do not understand the boundaries of the efficient
frontier. They are unrealistic, expecting portfolios to have a higher return for a lower risk than is possible. Unfortunately, many investment products are so laden with fees and expenses that including them in your asset allocation results in an inefficient portfolio. Excessive fees drag your performance down without reducing your volatility. For example, the gone-fishing portfolio I recommended in previous columns has an expense ratio of only 0.27 percent. The average mutual fund has an expense ratio about 1 percent higher, which is inefficient. And, inefficient investments clearly cannot produce portfolios on the efficient frontier. In the typical efficient frontier, stocks return about 6.5 percent over inflation and bonds return about 3 percent over inflation. These long-term averages have been measured over two centuries of data. Although we look at these statistics when building a portfolio, any given year — or even decade — produces unique riskreturn data. On average, if you want an annual standard deviation of only 6 percent, you have to settle for an expected real return of about 3 percent. If you want a real return closer to 6.5 percent, you will have to tolerate volatility of close to 20 percent. This is the classic risk-return curve for a one-year investment horizon. Although few investors have a one-year See MAROTTA, page 9
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INSURANCE & FINANCIAL PLANNING
August 26, 2011
The Central New York Business Journal • 9
Medical-insurance costs on the rise for manufacturers and distributors BY JOURNAL STAFF
edical-insurance costs are continuing to rise for manufacturing and distribution employers across the country, according to a new national survey. The 2011 Compensation Data Manufacturing & Distribution survey results show manufacturers and distributors reported an average premium increase of 11 percent. Sixty-five percent of respondents indicated they pay more than $9,600 annually for an employee plus family plan. “The rising cost of insurance premiums is something that continues to be an issue
for employers,” Amy Kaminski, director of marketing at Compdata Surveys, said in a news release. Compdata Surveys is a national compensation survey data and consulting firm, based in Kansas. “To counteract these rising costs, organizations have to look in different directions in order to continue providing quality coverage for their employees,” she added. Premium costs remain high for manufacturing and distribution companies as 64.3 percent pay more than $7,200 for an employee plus spouse plan. More than 55 percent of survey respondents report paying more than $7,200 in premium costs for an employee plus children plan. Employee-
only plans cost employers between $2,400 and $7,200 per year. Employers are often forced to shift some of the cost to their employees in an effort to offset the increasing outlay. Organizations increased the employee portion of the premium at a rate of 62.6 percent, whereas 46.7 percent have increased deductible levels. Eighty-four percent of organizations report utilizing coordination of benefits in an effort to avoid overlap of benefit costs. One way to reduce costs to the employer is through the type of plan offered. More companies are beginning to offer a highdeductible health plan (HDHP) to employees. In 2011, 26.4 percent of manufacturers
and distributors reported offering HDHPs compared to just 14.8 percent in 2009. The most prevalent coverage offered by manufacturing and distribution employers is a PPO plan, offered by 86.7 percent of firms. HMO plans are the third most common, offered by 20.8 percent of respondents. Compensation Data 2011 Manufacturing & Distribution surveyed more than 100 industry-specific job titles and 350 benchmark titles ranging from entry-level to top executives. Data was collected from nearly 1,100 manufacturing and distribution employers reporting on more than 9,500 locations across the country, effective Feb. 1, 2011.
MAROTTA: If you don’t have an asset allocation on low-expense investments on the frontier, get one returns over a specific time horizon. And, that’s where Blanchett’s study can help. In investment horizon, we all experience the addition to charting the one-year efficient markets one year at a time. In fact, we ex- frontier, he also charted the 5-, 10- and 20perience the markets one day at a time, and year efficient frontiers. His work confirms that different portfosome days it seems like the sky is falling. Although recently the Dow has dropped lios make sense over different time periods. precipitously, it began in December 2010 Aiming for a 6.5 percent real return for one at 11,050. Unduly concerned investors are year requires enduring higher risk. The 5-, measuring returns from the high-water 10- and 20-year efficient frontiers reduce marks, not even from levels as long as a the risk considerably. Over longer periods year ago. This typical psychology affects of time, returns tend to revert to the mean. We use these statistics when suggesting even the most seasoned investors. anney that clients put the cott next five to seven years The only antidote for such emotional ontgoMery reactions is to adhere to a disciplined in- of spending rates in cash and bonds and invest the vestment strategy designed to maximize is pleased to remainder welcomeof their portfolio in Continued from page 8
Janney MontgoMery cott LLc Kenneth SouSer III is pleased to welcome
Kenneth SouSer III Syracuse, New York Office Joining our
serving as Syracuse, New York Office serving as
Vice President/Investments Vice President/Investments 3154455927 • 800.822.8201 315.445.5927 • 800.822.8201 firstname.lastname@example.org • www.janney.com email@example.com • www.janney.com Member NYSE • FINRA • SIPC Member NYSE • FINRA • SIPC Janney MontgoMery ScottJLLc anney MontgoMery Scott LLc Trusted Advisors for Generations Trusted Advisors for Generations 5784 Widewaters Parkway, Suite 57842Widewaters Parkway, Suite 2 Syracuse, NY 13214 Syracuse, NY 13214
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equities. Dividing the portfolio in this way provides enough stable investments for the next several years along with sufficient appreciation for long-term financial health. Thus, it allows clients the best chance to sleep well tonight and still eat well in 10 years. One client, who is a bridge master, made the analogy that in bridge you have imperfect information. However, you are always playing the odds, which is always the right decision, even if it turns out to be wrong in one particular hand. Investing is very much like that. It is never a mistake to have a balanced portfolio and to select investment vehicles with low
expense ratios. However, asset allocation also means you will always have something to complain about. If you don’t have an asset allocation of low-expense investments on the efficient frontier, get one. Nothing is more important. And, if you have such a game plan, don’t let short-term fluctuations in the market deter you from a brilliant long-term strategy. David John Marotta is president of Marotta Wealth Management, Inc., which provides fee-only financial planning and wealth management. Contact him at emarotta.com or visit www.emarotta.com
• The Central New York Business Journal
insurance & Financial planning
August 26, 2011
Survey: Health insurers need to improve WIB receives funding for customer relationships to compete By Journal Staff
early 50 percent of health customers are willing to pay more for quality customer service — a factor U.S. health insurers need to address to effectively compete for new clients. That’s according to a new survey from Accenture (NYSE: ACN), the global management-consulting firm. Accenture conducted a survey of 1,000 insured individuals to assess the impact of customer service on consumer preferences and found that nearly 80 percent expect customer service to be easier, more convenient. The survey also found that 42 percent of customers had high satisfaction levels, while only 7 percent were dissatisfied. Health insurers, however, have not translated customer satisfaction into revenue opportunities, as Accenture found that very few (7 percent) would consider purchasing additional services. These findings are timely due to increasing demand for consumer-directed health care and the additional 40 million new health-insurance customers expected from the federal health-care reform law (The Patient Protection and Affordable Care Act), according to
Creating a Legacy. One Business at a Time. On October 26, The Business Journal will host a black-tie gala at the Everson Museum. We will honor the legacy of those who have made a substantial contribution to our region by building thriving businesses and by nurturing our communities through their generosity in time, financial support, and dedication. To register to attend the event, call (315) 579-3925 or email firstname.lastname@example.org
Accenture. Health insurers have failed to provide the personalized experience customers crave from health IT investments, according to Accenture. Only 10 percent of customers agreed that health insurers “tailor my experience to match my needs/ preferences,” while more than twice that amount (22 percent) strongly disagreed. “We expect more personalized customer service to emerge as a major source of healthcare differentiation, much like other industries today,” Russ Nash, leader of Accenture’s U.S. payer business, said in a news release. “The health insurance industry must use insight driven health to better understand the expectations of its unique customer segments and how to enhance customer relationships to impact revenue growth.” The survey also determined that health insurers are not keeping pace with rising customer expectations. Among all five of the areas customers rated most important, the gap between customer expectations and insurer performance was significant, as much as 50 percentage points, in some cases, Accenture notes. Among the four characteristics that customers rated most important were: n Knowledgeable representatives.
Legacy Award Aminy I. Audi
President/CEO L&JG Stickley
Neil, Steve and Michael Goldberg
Raymour and Flanigan Furniture
Chairman/CEO Eric Mower and Associates
Theodore M. Pasinski
retired president of St. Joseph’s Hospital In addition to recognizing our legacy-award recipients, we will also distribute a special commemorative, full-color publication reflecting the last 25 years of regional business as seen through the pages of The Business Journal. Call (315) 579-3907 for more information or email email@example.com
Robert U. Roberts retired president and chief executive officer SRC, Inc.
Roughly 85 percent rated interaction with knowledgeable employees as highly important, yet fewer than 50 percent were satisfied with their current experience. n Convenient service hours. Nearly 80 percent prefer customer service being extended to weekend and evening hours, while fewer than half currently experience this convenience. n Wait time. About 80 percent rate wait time as important, but more than 60 percent said they are kept waiting too long by current health-plan providers. n Single contact. More than 80 percent said dealing with one contact to resolve issues is important, but 60 percent say they’re currently transferred to multiple contacts to resolve issues. The survey was conducted to understand how U.S. health insurers perform in customer service. The report titled, “Seven Secrets Your Health Insurance Customers Are Not Telling You,” is based on a survey of 1,000 insured individuals between late December 2010 and early January 2011. Accenture is a global management consulting, technology services, and outsourcing company, with more than 223,000 people serving clients in more than 120 countries. q
job-placement program By Journal Staff
he Workforce Investment Board (WIB) received $169,204 in supplemental funding from the New York State Office of Temporary and Disability Assistance to continue operating its Wage Subsidy Program. The program helps public-assistance recipients in Madison, Herkimer, and Oneida counties with barriers to employment find and retain jobs, WIB says. The program helps cover some of the costs involved in training new employees. Employers are reimbursed up to 90 percent of wages and other costs such as unemployment insurance and workers’compensation costs for an eligible new hire for a training period of up to three months. Any company, regardless of size, may qualify for the program if it can provide a permanent, preferably full-time, position of at least 30 hours per work; a pay rate meeting federal, state, or union standards; and opportunities for advancement.
The Central New York Business Journal • 11
August 26, 2011
TOP RANKS: EMPLOYEE-PLACEMENT & STAFFING FIRMS Ranked by No. of CNY Employer Clients in 2010 Leasing
Types of Placement
No. of CNY Employer Clients in 2010 — No. of CNY Additional Employees/Staff CNY Locations 800 Teall Ave., Syracuse, — Utica 24
Cortland, Elmira, Ithaca, Lowville, Norwich, Oneida, Vestal
AC, CL, DE, EN, IN, MD, MG, SC, SM, TC, TM, WP
full-service staffing—temp, temp to perm, permanent placement
Peter DeBottis, Branch Manager
341 — 84
Auburn, Geneva, Utica, Watertown
AC, CL, DE, MD, MG, SC, SM, TC, TM, WP
Patricia Heffernan, CEO Yvette Tehan, Vice President
Adecco Employment Services 225 Greenfield Parkway Liverpool, NY 13088 (315) 461-1270/ 461-1276 www.adeccousa.com
320 — 32
Auburn, Binghamton, Corning, Elmira, Fulton, Oswego, Pulaski, Utica, Vestal
AC, CL, DE, EN, IN, MD, MG, SC, SM, TC, TM, WP
Karen Walser, Regional Vice President Karen Standford, Regional Operations Manager Laurlyn Bush, Branch Manager
Contemporary Personnel Staffing & Professionals Incorporated 904 7th North St. Liverpool, NY 13088 (315) 457-2500/ 457-1400 www.cpsprofessionals.com
226 — 31
Rochester, NY and Washington DC/Metro area
Laurie Liechty, President & Founder Deborah Lerro, VP Finance Cindy Nave, VP Professionals Incorporated Meg Sherman, VP Contemporary Personnel Staffing
First Choice Staffing 7525 Morgan Road Liverpool, NY 13090 (315) 453-5533/ 453-3958 www.firstchoicegroup.com
192 — 26
New Hartford, Rome
AC, CL, DE, EN, IN, administrative, accounting & finance, call MD, MG, SC, SM, TC, center, health care, information technology, TM, WP insurance, legal, engineering, assembly, warehouse, industrial, advanced manufacturing, government contract, human resources, sales & marketing, executive search, payroll transfer plan AC, CL, DE, IN, MG, industrial and clerical staffing SC, SM, TC, TM, WP
Michele Washburn, President Lynn A. Loomis, VP Ops. Robert Kuzdzal, VP Sales/Marketing
C.R. Fletcher Associates, Inc. 126 N. Salina St., Suite 107 Syracuse, NY 13202 (315) 471-1000/ 471-6500 www.crfletcher.com
150 — 8
AC, CL, DE, IN, MD, accounting, sales and marketing, MG, SC, SM, TC, TM, administrative, customer service, distribution, WP finance, human resources, information technology
Carol Ryan Fletcher, CEO Thomas Fletcher, COO
CNY Outsourcing 1132 W. Genesee St. Syracuse, NY 13204 (315) 428-8888/ 461-9348 www.cnyoutsourcing.com
145 — 8
AC, CL, DE, EN, IN, administrative & clerical, health care, MD, MG, SC, SM, TC, accounting, IT & engineering, skilled trades & TM, WP construction, commercial drivers, manufacturing, assembly & warehouse
Lori L. Carr, CEO Michael E. Carr, President
NYS ACCES-VR 44 Hawley St. Binghamton, NY 13901 (607) 721-8400/ 721-8390 www.acces.nysed.gov
125 — 24
AC, CL, DE, EN, IN, MD, MG, SC, SM, TC, TM, WP
qualified job seekers with disabilities
Dorothy Marinaccio, Regional Workforce Development and Business Relations Coordinator
Comforce Staffing Services 5795 Widewaters Parkway Syracuse, NY 13214 (315) 449-1188/ 449-1180 www.comforce.com
125 — 5
AC, CL, DE, EN, MD, MG, SC, SM, TC, TM, WP
health care, manufacturing, scientific, administrative, call center, IT, payrolling
Linda J. Steele, Sales Director
Sapphire Staffing Group2 215 E. Water St. Syracuse, NY 13202 (315) 218-7826 www.sapphirestaffing.org
100 — 3
AC, CL, DE, EN, IN, MD, MG, SC, SM, TC, TM, WP
medical, executive, administrative
Lisa A. Seketa, President & CEO
Stafkings of Binghamton, Inc. 66 Hawley St. Binghamton, NY 13902 (607) 772-8080/ 772-6515 www.stafkings.com
78 — 8
Auburn, Elmira, East Syracuse, Ithaca, Oswego
AC, CL, DE, EN, IN, MD, MG, SC, SM, TC, TM, WP
accounting, legal, medical
Daniel J. King, President Carter C. King, Vice President Melissa Wheeler, Regional Manager Robin Eccleston, General Manager
ISSI Technology Professionals 5010 Campuswood Drive East Syracuse, NY 13057 (315) 449-1838/ 449-1939 www.issitechpros.com
75 — 9
EN, MD, MG, SM, TC
IT and engineering professionals
Allison P. Smith, CEO
JAS Recruitment 100 Metropolitan Park Drive Liverpool, NY 13088 (315) 299-7168 www.jasrecruitment.com
50 — 7
AC, CL, EN, SC
accounting, finance, engineering and supply chain at all levels, and senior management/ executive level positions in all areas
Joe Szlosek, Partner Stuart Groom, Partner Tim Songer, Partner
Columbia Place Associates, LLC 401 Columbia St., Suite 8 Utica, NY 13502 (315) 272-2999/ 624-0669 www.columbiaplaceassociates.com
40 — 4
AC, CL, DE, IN, MG, SC, SM, TC, TM, WP
office/clerical, industrial, manufacturing, warehouse
Garry J. Smith, Marketing Manager
Pro-Tel People 5132 State Highway 12 Norwich, NY 13815 (607) 336-1689/ 336-1187 www.protelpeople.com
25 — 7
CL, DE, EN, IN, MG, SC, SM, TC, TM, WP
manufacturing, engineering, technical, administrative, telecom
Ron D. Annese, Operations Manager
Name Address Phone/Fax Website
Labor Ready 301 W. Onondaga St. Syracuse, NY 13202 (315) 426-1634/ 426-1770 www.laborready.com
Manpower, Inc. 2 Clinton Square, Suite 125 Syracuse, NY 13202 (315) 423-7213/ 362-9512 www.manpower.com
500 — 2
Sibley Staffing Solutions 3711 North Brewerton Road North Syracuse, NY 13212 (315) 474-1843/ 474-7023 www.sibleystaffing.com
Staffing Fields Served1 CL, DE, IN
Placement Specialties on-demand staffing available 24/7
Key Executives Chris Lasky, Multi-Branch ManagerOnondaga St. Dionne Rucker, Branch Manager- Teall Ave.
Note: Information was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to requests for information. 1
AC = accounting; CL = clerical; DE = data entry; EN = engineering; IN = industrial; MG = management; SM = sales/mkt.; MD = medical; SC = secretarial; TC = technical; TM = telemarketing; WP = word processing
as of 8/10
Central New York includes Broome, Cayuga, Chemung, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, Seneca, St. Lawrence, Tioga, and Tompkins counties.
Year Estab. 1989
RESEARCH BY NICOLE COLLINS 08/11 firstname.lastname@example.org
• The Central New York Business Journal
August 26, 2011
ARCHIBALD: Many legal experts recommend that eligible nonprofits make the 501(h) election Continued from page 5
In terms of definitions that are appropriate for internal-policy determinations, please consider the following: Lobbying expenses are defined as any attempt to influence federal or state legislation, participation, or intervention in political campaigns, grass-roots lobbying, and direct communication with certain high-ranking federal executive-branch officials in an attempt to influence an official action (regulatory or otherwise) of those officials. State and local government lobbying must be evaluated on a facts-and-circumstances basis in relation to the specific IRS regulations. Attempting to influence legislation is de-
fined as influencing any legislation through a lobbying communications. Lobbying communications are defined as any form of communication with any member, employee of the legislative body, or any other government official who may participate in the formulation of legislation that either refers to specific legislation or clarifies, amplifies, modifies, or provides support for views reflected in a prior lobbying communication. Legislation includes any action on acts, bills, resolutions, or other similar items by a legislative body. Charitable organizations may engage in an activity to influence legislation for a variety of reasons. If the organization engages in an activity both for the purpose of making or supporting a lobbying communication and for some non-lobbying purpose, the or-
ganization may treat the action to be a “split expenditure” and costs can be allocated between the two components in a reasonable manner.
The decision regarding a 501(h) election
The decision regarding whether or not to make a Section 501(h) election for your organization is based on the facts and circumstances of the charitable organization’s involvement with lobbying activities, as defined above. If the voluntary 501(h) election is made, the organization is subject to the substantiality test, described further below. Many legal experts recommend that eligible nonprofits make the 501(h) election. If no election is made, then your organization is subject to the “no substantial part” test. That
allows the IRS to make its own determination regarding whether lobbying activities for your organization jeopardizes your taxexempt status. Section 501(h) provides a sliding scale of permissible “lobbying non-taxable amounts.” As a result, lobbying expenditures below these amounts are permissible and do not result in either an excise tax or revocation of your exempt status. Lobbying expenditures in excess of the permissible amounts are considered to be “excess lobbying expenditures” and are subject to an excise tax imposed by Code Section 4911. Revocation of your organization’s tax-exempt status is possible if the amount spent on lobbying generally exceeds 150 percent of the permissible lobbying amounts over a four-year period.
Making the election
40 40 40
Thresholds for purposes of avoiding excise taxes
Eligible tax-exempt organizations (generally excluding churches and supporting organizations) can make a 501(h) election by filing Form 5768, known as Election/ Revocation of Election by Eligible 501(c) (3) Organization, to make expenditures to influence legislation. The election is effective with the beginning of the taxable year in which the form is filed. The election can be voluntarily revoked by filing the same Form 5768. Essentially, if your organization is involved in any substantial lobbying activities, there is a certain “safe harbor” that is created by filing for the 501(h) election. If no 501(h) election is filed or a previous 501(h) election has been revoked, then the organization is subject to the IRS definition of no substantial part of the organization’s activities involve lobbying. The thresholds described below regarding non-taxable lobbying expenditures for electing organizations can provide some guidance on whether a 501(h) election should be filed.
The schedule below provides the thresholds that apply to an electing 501(h) tax-exempt organization for purposes of calculating the excise tax.
Summary of recommendations
The Word Is Out.
NOMINATE NOW! Nomination Deadline: September 23, 2011 Sponsors:
November 30, 2011 • 11:00 AM - 2:00 PM Nicholas J. Pirro Convention Center • Syracuse
For more information or for sponsorship opportunities, please contact Marny Nesher at 579-3925, or email email@example.com To nominate online, visit www.bizeventz.com (Select 40 Under Forty 2011)
All 501(c)(3) organizations should evaluate the merits of making a 501(h) election each year. Other tax-exempt entities (i.e., those that are not 501(c)(3) may engage in an unlimited amount of lobbying provided that the lobbying is related to the organization’s stated tax-exempt purpose. In addition, the IRS has identified private foundations as being subject to various tax liabilities if any funds are expended for lobbying activities. Therefore, private foundations must ensure that their organization does not make any lobbying expenditures if a primary objective is to avoid any tax liabilities. In the final analysis, each 501(c)(3) organization should make an annual determination of whether or not a 501(h) election would be prudent. Proper segregation of lobbying expenditures in the financial records of the organization is imperative. When it comes to assessing your nonprofit’s reporting requirements in this area, I believe that the best defense is to maintain a solid and consistent proactive offense. Gerald J. Archibald, CPA is a partner with The Bonadio Group. His office is in Syracuse. Contact him at firstname.lastname@example.org or call (315) 422-7109
The Central New York Business Journal • 13
August 26, 2011
BUSINESS JOURNAL C E N T R A L
N E W
Y O R K
Volume 25, No. 34 - August 26, 2011 NEWS Editor-in-Chief .......................Adam Rombel email@example.com Assistant Editor .............Maria J. Carbonaro firstname.lastname@example.org Staff Writers .......................... Kevin Tampone (Online Editor) email@example.com ............................................................Traci DeLore firstname.lastname@example.org Columnists .......................Gerald J. Archibald William Barclay Tom Morgan Production Manager ......................Erin Zehr email@example.com Research Manager................. Nicole Collins firstname.lastname@example.org SALES Sr. Account Managers ...................................... Bernard B. Bregman email@example.com Mary LaMacchia firstname.lastname@example.org Marketing ......................BBB Marketing Inc. CIRCULATION
Private-Sector Jobs Rise Slightly
he most recent unemployment data reveals that New York’s economy gained 14,100 private-sector jobs in July, or 0.2 percent, since June, according to the state Labor Department. The department also estimates that since the state’s economic recovery began in November 2009, New York has recouped just over 57 percent, or 188,100, of the privatesector jobs lost during the 2008-2009 recession. The state unemployment rate is at 8 percent. We still have a ways to go VIEWPOINT in growing private-sector jobs, but the national unemployment rate is higher, at 9.1 percent.
who are receiving unemployment benefits to maintain their eligibility while starting their own business. This has helped small businesses to emerge. According to the state, more than 4,000 jobs have been created and $16 million in state tax revenue generated since this program became available. This program helps individuals who are likely to exhaust their regular unemployment-insurance benefits to develop and establish small businesses in New York. Qualified individuals participate in a rigorous program that consists of specific benchmarks they must comply with in order to stay in the program. A participant must complete a minimum of 20 hours of entrepreneurial training, meet a minimum of two times with a certified business counselor, create a business plan, and send periodic reports to his/ her Department of Labor coordinator.
State extends assistance to grow small businesses
Science and engineering professionals needed
There was also other good news for private-sector job growth. The state Legislature extended the Self-Employment Assistance Program. The governor signed the measure July 15. I was happy to support this program in the Assembly. The program allows people
One area that shows signs of growth is science and engineering. Long-term occupational projections from the Division of Research and Statistics estimate that science and engineering jobs in the state will grow much faster than other job titles over the next decade, according to the state
Department of Labor. These professionals often earn well above the average salary. According to a newsletter published by the Department of Labor last month, the median annual wage for scientists and engineers in New York was $76,800. Projections show a greater need for these types of professionals. The Department of Labor could also advise those interested on what kind of schooling they would need in order to become skilled to obtain this type of employment. The department has a variety of resources available on its website (www.labor.ny.gov) if you are looking for work, or considering a career change. The site has updated several job-search options and lists current job openings, job fairs, a section called GreenCareerNY, directory of possible employers, and jobs in the news. You can access these at www.labor.ny.gov/careerservices/ CareerServicesIndex.shtm. William (Will) A. Barclay is the Republican representative of the 124th New York Assembly District, which encompasses parts of Oswego and Onondaga counties, including Oswego, Fulton, Camillus, and Skaneateles. Contact him at email@example.com or call (315) 598-5185.
Circulation Management...(315) 579-3927
We’re at a Fork in the Road on Entitlement Reform
ADMINISTRATIVE Publisher..........................Norman Poltenson firstname.lastname@example.org Chief Operating Officer .....Marny Nesher email@example.com Business Manager ....................Kurt Bramer firstname.lastname@example.org
THE CENTRAL NEW YORK BUSINESS JOURNAL (ISSN #1050-3005) is published every week by CNY Business Review, Inc. All contents copyrighted 2011. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher. Cover Price $2 Subscription Rate $86 per year Call (800) 836-3539
HOW TO REACH US MAIL: Send letters to: Editor, The Central New York Business Journal 269 W. Jefferson St. Syracuse, N.Y. 13202-1230 E-MAIL: email@example.com PHONE: (315) 472-3104
ou may recall, I recently wrote that there are clear signs that genuine reform lies ahead. Recently, President Obama may have underscored that point. He spoke openly about reforming Social Security and Medicare by doing more than raising taxes. Well, if you don’t raise taxes, you have to cut the benefits. So, this would likely mean the president would go along with cutting benefits. Is this a ploy? Hard to say. He would like to place himself in the middle, between the left and right. At least for the election, he would. On the left, we hear Nancy Pelosi boast that she and colleagues fought off attempts to cut benefits. On the right, there are those who would MORGAN totally privatize both AT LARGE programs. Maybe this attempt by the president to stand between them is election propaganda. Maybe it is more. At least he is talking about reform. He calls it “changes.” If Congress eventually does something more drastic, it would be “reform.” We must have reform of these big benefit programs. The government has promised $46 trillion more in benefits than it will have money to cover them. That’s like you promising to pay off a $10 million
mortgage — when you will earn only $2 million over the next 20 years. Yes, you might find a better job and more income. Yes, our government may get extra revenue from taxes. But let’s be realistic. Your new job and its new revenue are not going to be enough. You have to get out of your mortgage. And, the government has to re-write Social Security and Medicare — along with other benefit programs. What sort of reform are we going to get? That depends upon how Americans vote in the 2012 election. Not just because we will decide who lands in the White House, but also because the Senate and House of Representatives are up for grabs. The new Congress will decide much of the question. A more conservative Congress is more likely to push for deeper reform. That is true no matter who becomes president. A really conservative Congress would likely push for, say, some type of individual accounts for Social Security. A conservative president would likely go along with that idea. That would be genuine reform. President Obama would probably veto
such an idea. He would probably want to keep the system as is — and cut some benefits and add some taxes. That would represent “changes” rather than true reform. We may get similar action on our tax-code mess. Conser vatives would push for flat, simple tax rates, and for doing away with all deductions. That is, doing away with the devices politicians use to reward those that bribe them. A conservative president might go along with that. And, that would be major reform. President Obama would probably veto that. He would probably hold out for something in the middle. Something that included changes, rather than real reform. So, voters in the election may well decide whether this country achieves real reform in some major areas. (More than 60 percent of our budget is for entitlements.) Or, the voters will decide that we will settle for changes. This is a fork in the road. Bill Clinton would persuade most of us that he and we could take both routes. Most other politicians will not be so persuasive. From Tom...as in Morgan. Tom Morgan writes about financial and other subjects from his home near Oneonta, in addition to his radio shows and new TV show. For more information about him, visit his website at www.tomasinmorgan.com
• The Central New York Business Journal
PEOPLE ON THE MOVE: NEW HIRES AND PROMOTIONS
EII, which was formally launched earlier this year. Formerly of Google Inc. and founder and CEO of Dealtek, Ltd., Weiss holds a bachelor’s degree from Tulane University, a J.D. from the College of William and Mary, and an executive certificate in international business from Georgetown University.
Pinckney Hugo Group has hired Maggie Gotch as an assistant account manager and Margaret Castellini as an accounting assistant. Gotch has a bachelor’s degree in communication from the State University of New York at Geneseo. Castellini has a master’s degree from Saint Joseph’s College of Maine and a bachelor’s degree from Le Moyne College.
EDUCATION & TRAINING Rhett Weiss has joined the Samuel Curtis Johnson Graduate School of Management at Cornell University as the new executive director of the Entrepreneurship and Innovation Institute (EII). Weiss will lead
United Way of Central New York recently hired Mary Kate Hartmann as communications associate within the development division. Hartmann holds a bachelor’s degree in English with a minor in comHartmann munications from Le Moyne College. Prior to this position, she was regional director of communications for the American Heart Association (AHA) in Central New York and later the senior director of community health for the AHA in Dallas, Texas.
SPORTS SIDEARM Sports has announced the ap-
RMS: It added 1,100 square feet of space Continued from page 1
recent years. The market-research firm added about 1,100 square feet to its 2,000-square-foot facility at the Village Commons on East Genesee Street in Baldwinsville. The company took over some vacant space and connected the two areas. The expansion was completed in April. The company is planning an open house in its new space on Sept. 15 from 5:30 p.m. to 7:30 p.m. RMS added a facility to run its own focus groups in 2009, says Lauren Krell, manager of RMS QualiSight, the firm’s call center and focus group facility. A few clients had asked about the service and the company had
done a few in the past. But once the facility was up and running and RMS began actively marketing the service, it grew quickly, Krell says. The call center supports the firms’ focus-group business by recruiting participants; so it needed more space to accommodate them. The new center has 16 call stations, a private viewing area for focus-group clients and a separate lounge and entry area for focus-group participants. In addition to recruiting for focus groups, the call-center staff handles RMS’ phone surveys and other outbound calling services, which are the company’s main business, Krell says. In recent months, RMS added inbound calling services to its offerings as well.
pointment of Dave Meluni as vice president of sales and marketing. He brings 16 years experience in collegiate athletics, spending the last nine as the senior account executive for Syracuse Meluni IMG Sports Marketing (formerly ISP Sports). Meluni has been involved in many aspects of collegiate athletics during his career, including corporate sponsorship, ticket sales, marketing, hospitality, and game operations. Meluni obtained a master’s degree in sports administration from Florida State University, where he also worked as a marketing assistant in the athletic department. He earned his bachelor’s in sports management at Ithaca College.
TECHNOLOGY Welch Allyn announced that Anil Dass will be joining the company as the country manager for India. Dass has 22 years experience in the medical industry. He was most recently the national sales manager at a China–based manufacturer of patient monitors, ventilators, and operatInbound services include tasks like serving as a virtual receptionist, setting up appointments, taking customer-service calls, and registering callers for classes or events. A few customers had asked about such inbound services and so RMS decided to add them, Krell says. Many of the companies taking advantage of those services are smaller businesses, she adds. Often, they don’t have the staff to handle inbound calls. Some might not even have a physical office at all. They could be one- or two-person companies whose principals are always on the road, Krell says. Larger firms have been taking advantage of the service for temporary projects, she adds. They might have a specific task that requires short-term staff, but don’t have the resources or desire to hire their own temps.
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August 26, 2011
ing tables and lights. Previously, he served as a Northern Region sales manager for a successful Indian medical distribution company. Dass holds a master’s degree in physics from the University of Kashmir in India. William Luety has joined InfiMed as a technical support specialist. Luety has many years experience owning and operating a company specialized in installation, troubleshooting, and repair services for diagnostic-imaging providers primarily in the Central New York region. He has also worked at Litton and Siemans Medical Systems. Scott Lamica has joined the company as a hardware engineering technician. Lamica has many years experience working as a technician with GE Inspection Technologies and Tyco Healthcare. Julia Evans has joined InfiMed as product manager. Evans most recently worked for the University of Pittsburgh Medical Center and the University of Virginia Health Systems performing angiographic, neuroradiology, and cardiac catheterization procedures. She holds an associate degree in radiological technology and is certified in angiography and interventional radiology and cardiology from the University of Virginia. InfiMed has also hired Scott Carter as a production technician. RMS employs 25 people and added five of those in the past few years, Krell says. The company’s health-care division has been driving much of its growth, she adds. RMS works with physician practices, hospitals, and home health-care agencies on tasks like mail and phone patient-satisfaction surveys. Krell notes the firm’s call center supports all those activities. The health-care division is looking to add two new employees in the coming months, she adds. RMS, launched in 2002, has clients throughout the U.S. In addition to its new inbound calling services, phone surveys and focus groups, the company conducts mail and electronic market research and executive interviews. Contact Tampone at email@example.com
The Central New York Business Journal • 15
August 26, 2011
september 6 n The Bare Necessities of Starting A Business, New Venture Orientation from noon to 12:50 p.m. at the South Side Innovation Center, 2610 S. Salina St., Syracuse. The Innovation Center, part of the Whitman School of Management at Syracuse University, will host this session led by Joanne Lenweaver, director of the WISE Women’s Business Center. The session will provide information on the initial steps critical to launching a successful business and achieving profitability. The class is free. For more information, contact Alicia Millington at (315) 443-8634 or email: firstname.lastname@example.org n Women’s Investment Seminar at 5:30 p.m. at Manlius Pebble Hill School, 5300 Jamesville Road, DeWitt. This is a free monthly investment seminar. The topic for September is “Annuities and your Retirement” with Chris Rheaume, financial advisor, as the presenter. RSVP by phone at (315) 449-2282 or email: email@example.com
september 9 n 7 Habits of 7 Highly Successful People from 7:30 to 10 a.m. at CenterState CEO, 572 S. Salina St., Syracuse. Seven speakers will share their seven habits they feel have helped them become successful. In about 90 minutes you will receive 49 “habits” that the presenters have used throughout their careers. The cost is $20 for CenterState members and $30 for nonmembers. For details and registration information, visit www.centerstateceo.com or call (315) 470-1800.
september 14 n CenterState CEO Business After Hours event from 5:30 to 7 p.m. at SUNY Empire State College, 6333 State Route 298, East Syracuse. The cost is $10 for CenterState members and $15 for nonmembers. For details and reservation information, visit www.centerstateceo.com or call (315) 470-1800.
september 15 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. Complimentary attendance. Register by visiting www.cnyastd. org, or call (315) 546-2783, or email: info@ cnyastd.org
september 16 n You Can’t Fail Conference for Women of Color – Honoring The Queen I Am: Making My Life A Royal Reality at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. Rachel J.C. Bellamy, executive coach, will be the keynote speaker. For more information and to register, visit www.youcantfail.com or call (315) 252-6326.
september 20, 21 n U.S.-China Business & Trade
Development Conference at the Conference & Event Center Niagara Falls, at 101 Old Falls St. in Niagara Falls, N.Y. Hosted by the NYS Small Business Development Center, in conjunction with the U.S. Small Business Administration, the U.S. Department of Commerce, and Empire State Development. This event will provide the latest information on opportunities for trade, investment, and business development. The conference will provide businesses with matchmaking and networking opportunities with Chinese businesses in need of U.S. products and services. For more information, or to register online, visit www.nyssbdc.org
september 21 n Sharing BEST Practices from 7:30 to 10 p.m. at The Palace Theatre, 2384 James St., Syracuse. CNY ASTD will be conducting this annual program, where CNY BEST Learning and Performance award recipients share information about their nominated practices. The cost is $25 for ASTD members, and $35 for nonmembers. To register, visit www.cnyastd. org, call (315) 546-2783, or email: info@ cnyastd.org n Speed Networking event from 7:30 to 10 a.m. at CenterState CEO, 572 S. Salina St., Syracuse. The cost is $10 for CenterState members and $15 for nonmembers. For details and reservation information, visit www.centerstateceo.com or call (315) 470-1800.
september 28 n UnitedHealthcare Healthy Workplace Awards from noon to 2 p.m. at the Crowne Plaza Hotel in Syracuse. This awards program will honor companies who show exceptional dedication to creating a work environment that encourages healthy living among employees. For more information, please contact Marny Nesher at (315) 579-3925 or email: firstname.lastname@example.org n The Bare Necessities of Starting A Business, New Venture Orientation from 5:30 to 7:30 p.m. at the South Side Innovation Center, 2610 S. Salina St., Syracuse. The Innovation Center, part of the Whitman School of Management at Syracuse University, will host this session led by Joanne Lenweaver, director of the WISE Women’s Business Center. The session will provide information on the initial steps critical to launching a successful business and achieving profitability. The class is free. For more information, contact Alicia Millington at (315) 443-8634 or email:
october 5 n 3rd Annual “Inspiring Success: The Women TIES Retreat” at The Lodge at Welch Allyn, Skaneateles. For details and registration information, visit womenties.com
OCT. 8, 15, 22, 29, NOV. 5 and 12 n Syracuse Entrepreneur’s Bootcamp from 8:30 a.m. to 1 p.m. at the Whitman School of Management at Syracuse University. A six-session program for new and aspiring entrepreneurs to get hands-on training in all aspects of business start-up and creation. For information and to apply, call (315) 443-3550, email email@example.com, or visit the bootcamp website as: www.whitman.syr.edu/eee/ bootcamp
october 11 n Nanotechnology: Driving a 21st Century Educational & Economic Renaissance in NYS event at 6 p.m. at Whitney Applied Technology Center at Onondaga Community College, 4585 W. Seneca Turnpike. The guest speaker will be Dr. Alain Kaloyeros, College of Nanoscale Science and Engineering at the University at Albany. This is a free event. RSVP to firstname.lastname@example.org or visit http:// www.tacny.org
october 19 n WISE High Altitude Marketing from 8 a.m. to noon in the Horizons Room at the Crowne Plaza Hotel. Designed for established entrepreneurs and those running small businesses who want to learn new marketing/branding techniques. To register, call (315) 443-3550, email email@example.com, or visit www.wiseconference.com/highaltitudemarketing
ONGOING EVENTS n Every Tuesday, Gung Ho Networking Group from noon to 1:30 at Ruby Tuesday Restaurant, 3220 Erie Blvd E., DeWitt. The cost is $10, which includes lunch. Contact Paul Ellis at (315) 677-0015 or visit www. GungHoReferrals.com n The first Wednesday of each month, Business Innovation Days meetings from 9 a.m. to 5 p.m. at The Tech Garden, 235 Harrison St., Syracuse. This is an opportunity for entrepreneurs and small businesses to meet one-on-one with a counselor from the Small Business Development Center to obtain
advice and customized assistance opportunities. Scheduled by appointment, call The Tech Garden at (315) 474-0910 or email: info@ thecleantechcenter.com n Every Wednesday throughout 2011, Salt City Technical will offer free consultation to entrepreneurs or inventors who would like to have their product ideas evaluated by a staff of trained engineers. For more information about Salt City Technical services and to schedule a consultation, call (315) 456-8461, or visit www.saltcitytechnical.com n Second Wednesday of each month, Salt City Technical assistance by appointment at the Tech Garden; free consultation to entrepreneurs or inventors who would like to have their product ideas evaluated by a staff of trained engineers. For details or an appointment, call (315) 474-0910 or email: info@ thetechgarden.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: firstname.lastname@example.org 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 email@example.com or call (315) 470-1802. n Every Friday, Tip Club of Syracuse, at the Sheraton Syracuse University Hotel, 801 University Ave., Syracuse, 8 to 9 a.m. Call Bernie Bregman at (315) 472-3104, ext. 103 or email: firstname.lastname@example.org n First Friday of each month, Toolkit Day with SCORE by appointment at The Tech Garden. SCORE 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. A group of local professionals, who either provide solutions in their field to customers or as an organization to educate and lead changes, sharing opportunities and emerging products and services. Contact Andy Picco at (315) 657-0135 or email: email@example.com n Every week, Syracuse Networking Professionals. Five meetings to choose from. For details, call Kevin M. Crook at (315) 4391803, or email KevinSNP@twcny.rr.com or visit SyracuseNetworkingProfessionals.com To have your meetings or events in the Business Calendar, email them to firstname.lastname@example.org
STUDY: New York’s growth in manufacturing exports has not translated to employment growth here Continued from page 2
Again, jewelry and diamonds drove most of the gains, according to the report. Manufacturing makes up 6 percent of New York’s gross domestic product, according to MRI. “Manufacturers are seeing success and
growth within the export sector and because of this success, we sought to identify what kind of growth is occurring and where New York State should focus its attention to help grow manufacturing and our economy. The MRI’s latest study helps us do just that,” Randall Wolken, president of the Manufacturers Association of Central New
York (MACNY), said in a news release. New York’s growth in manufacturing exports has not translated to employment growth here, as the state’s long-term decline in manufacturing jobs continued in the last decade. The Empire State had an average of 749,300 manufacturing jobs in 2000, but that declined by 36.5 percent to
475,900 jobs in 2010, according to New York Department of Labor data. The MRI is the research, policy, and educational arm of the Manufacturers Alliance of New York, a statewide coalition led by MACNY. q Contact Rombel at email@example.com
• The Central New York Business Journal
August 26, 2011
PRIVATE COMPANIES (2-50 employees) CNY Weight loss, LLC dba Jenny Craig Danlee Medical Products, Inc. Empire Interpreting Service Gilroy Kernan & Gilroy PRIVATE COMPANIES (51-250 employees) Anoplate Hancock Estabrook, LLP PB Industries
AWARDS September 28 Noon-2pm Crowne Plaza Syracuse
PRIVATE COMPANIES (251 + employees) The Fulton Companies Hematology/Oncology Associates of Central New York, P.C. Welch Allyn NOT FOR PROFIT (2-250 employees) Food Bank of Central New York Huntington Family Center YMCA of the Greater Tri-Valley NOT FOR PROFIT (251+ employees) NYSARC,Inc. Broome-Tioga County Chapter dba ACHIEVE St. Joseph’s Hospital Health Center Unity House of Cayuga County, Inc.
Register to attend the luncheon to honor the healthy workplace award ﬁnalists and reveal the winners Visit: www.bizeventz.com For more information, contact Marny Nesher at (315) 579-3925, email: firstname.lastname@example.org