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Housing Recovery: NYAG announces first round of housing-recovery funding. Page 3.

Special Report: Banking & Wealth Management.

Section B.

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November 1 , 2013 • $2.00

CNYBJ.COM

Hayner Hoyt joins “Top Contractor” list

Envisage envisions continued rapid growth trajectory

BY NORMAN POLTENSON

BY TRACI DELORE

JOURNAL STAFF

CONTRIBUTING WRITER

SYRACUSE — Last year’s revenues of $145.6 million vaulted the Hayner Hoyt Corporation into the top ranks of USA construction companies as measured by revenue, according to Engineering News Record, a McGraw–Hill publication. “In 2013, we’re projecting $186 million in revenue,” says Gary Thurston, the company’s chairman and CEO. Thurston’s son Jeremy C., who is the president of Hayner Hoyt, points out that the company “… has grown 400 percent in just the last decade.” Richard Hoyt launched the company in 1966, when he shifted from building custom homes to light commercial work. Today, Hayner Hoyt employs 190 in general contracting, construction management, conventional design/build, See HAYNER HOYT, page 10B

LANSING — For the third year in a row, Envisage Information Systems was included in Inc. Magazine’s Inc. 5000 list, which honors the fastest growing private companies in America. The software-development company, which has additional offices in Syracuse and Endicott, ranked number 883 on the list with three-year revenue growth of 504 percent. Revenue jumped from $2.8 million in 2009 to $17 million in 2012. Over the past five years, employment at the firm has grown from 30 people to 260 employees, says Steff McGonagle, principal and co-founder of Envisage. In 2012, the company ranked number 382 on the Inc. 5000 list and placed 808th on the list in 2011. “We’ve been very blessed,” McGonagle says of the

Gary Thurston, right, the chairman of Hayner Hoyt, and Jeremy Thurston, left, the president, sit in the company’s boardroom. Hayner Hoyt was recently named to the Engineering News Record, [McGraw–Hill’s] list of the top 400 construction firms in the USA.

See ENVISAGE, page 10

NORMAN POLTENSON/THE CENTRAL NEW YORK BUSINESS JOURNAL

Fleet Feet Sports franchise opens in Clay BY ERIC REINHARDT JOURNAL STAFF

CLAY — The local franchise of Fleet Feet Sports on Nov. 1 opened a second store located at 4136 Route 31 in Clay in the Market Fair North Plaza, across from the Great Northern Mall. Franchise co-owners Edward and

Ellen Griffin opened the 5,000-squarefoot store, citing business growth in the past three years at the store’s location in DeWitt. The local Fleet Feet Sports franchise, founded and opened in May 2000, focuses on the fitting of running, walking, and cross-training shoes as well as accessories and apparel for the

active lifestyle. The expanded 10,000-square-foot DeWitt location, which opened in June 2010, operates at 5800 Bridge St. The firm had earlier operated in a 3,000-square-foot location at 3453 Erie Boulevard East in DeWitt.

PHOTO COURTESY OF ENVISAGE INFORMATION SYSTEMS

Envisage Information Systems employees work together on a project.

See FLEET FEET, page 7

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2 • The Central New York Business Journal

CNYBJ BRIEFS News of note for and about Central New York businesses

Idea for “giving bag” wins Cornell student sustainability competition ITHACA — An idea to save hotels money on items that guests leave behind in rooms won the third annual student sustainability competition at the Cornell Center for Hospitality Research (CHR). “The Giving Bag,” created by Lilia Karimi and Quinn Cox, students at Cornell’s School of Hotel Administration (SHA), won the first-place prize of $2,000, according to a news release from Cornell University. According to the release, the student’s research for the concept determined that about 20 percent of the items left in guest rooms are intentionally left behind. They concluded that by providing a bag for guests to stash these items, hotels could easily donate them to charity, the release said. Two other student concepts tied for second place, according to the release. One of the ideas addressed food waste and included soliciting guest feedback on portion sizes, identifying donation opportunities for surplus food, and composting. The other concept involved increasing existing international development practices to incorporate local customs, practices, and materials in international hotel operations with a goal of integrating the hotel with its local environment, according to the release. The competition is conducted in conjunction with the annual Sustainability Roundtable at SHA. The roundtable brought nearly three dozen international hotel practitioners and researchers to the school to discuss current sustainability trends and strategies, the Cornell release said.

November 1, 2013

CNYIBA relaunches with new programs by eric reinhardt journal staff

DeWITT — The Central New York International Business Alliance (CNYIBA), an organization formed to enhance global sales of companies in the 12-county region, relaunched on Oct. 24 with the announcement of new programs and services to support growth through exporting. “We are a group of local business, government, and community leaders, who’ve come together in this nonprofit organization to create a local, one-stop shop for all export-related advice and assistance for other local companies,” said Peter Maier, president of Switzerland–based Inficon, Inc., who spoke at an Oct. 24 press event at the Inficon location at 2 Technology Place in DeWitt. Inficon is a manufacturer of scientific instrumentation, sensor technologies, and advanced process-control software for the high-tech sector and other industries, said Maier, who serves on the CNYIBA board. The CNYIBA held its inaugural event later in the day at the Crowne Plaza Syracuse hotel. The CNYIBA provides mentoring and consulting services, educational programs, and will offer trips to international trade shows in places such as South Africa and Singapore, Steven King, export director of the CNYIBA, said during his remarks at the press event. “There’s a lot of opportunity out there.

eric reinhardt/THE CENTRAL NEW YORK BUSINESS JOURNAL

Peter Maier, president of Switzerland–based Inficon, Inc., who spoke at an Oct. 24 press event at the Inficon location at 2 Technology Place in DeWitt. There are many, many markets in the world that haven’t been tapped by the regional companies,” King said. King has been exporting for more than 25 years and has significant international sales and marketing experience, according to the CNYIBA website.

He served more than 10 years with New York City–based Colgate-Palmolive Co. (NYSE: CL) from its offices in London and Paris, the CNYIBA website says. President Barack Obama in his 2010 See cnyiba, page 14

As a businessperson, you want your charitable giving to be easy, yet still rewarding. Consider establishing a donor-advised fund at the Community Foundation. They are easy to establish, flexible to fit your objectives and strengthened by the power of endowment.

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flexible charitable vehicles that make it easy to give during times when it is right for you. Gary R. Germain is a retired Partner at Bond, Schoeneck & King, PLLC

Read Gary’s full story at cnycf.org/Germain.

Since 1927, Central New Yorkers have turned to the Community Foundation to administer their charitable giving. We invite you to join them. Learn more at cnycf.org or call us at (315) 422-9538. email your company news to news@cnybj.com

Where the Smart Money Gives.


The Central New York Business Journal • 3

November 1, 2013

NYAG announces first round of housing-recovery funding BY ERIC REINHARDT Journal Staff

N

  ew York Attorney General Eric   Schneiderman on Oct. 29   announced an award of $3 million for the Greater Syracuse Property Development Corp. (GSPDC) as part of his Land Bank Community Revitalization Initiative. The Syracuse land bank is among six such organizations statewide awarded a total of $12.4 million in grant funding in the first round of competitive awards under the initiative, the attorney general’s office said in a news release. Schneiderman made the initial announcement on Oct. 29 in Buffalo and made a similar announcement the following day at Syracuse City Hall. The two-year, $20 million program provides funds from last year’s National Mortgage Settlement with the nation’s largest banks to help communities “rebuild and restore neighborhoods hit hard by the housing crisis,” Schneiderman’s office said. The grant funds provide the opportunity to address both the immediate “physical and financial impacts” of the mortgage foreclosure crisis by eliminating “blighted” properties, Katelyn Wright, executive director of the GSPDC said in the news release. “By addressing 70 vacant houses, we’ll [not only] combat the negative impacts abandoned properties have on quality of life in our neighborhoods, but also stabilize the values of surrounding properties and create opportunities for 50 low-to-moderateincome households to invest in home-ownership,” Wright said. Besides the Syracuse area, the Erie County/Buffalo, Chautauqua County, Rochester, Newburgh, and Suffolk County areas are also benefiting from the funding. The GSPDC, located at the Washington Station building at 333 W. Washington St., is an independent, nonprofit corporation that the city of Syracuse and Onondaga County created by an intermunicipal agreement, according to the city’s website. The city and the county appoint a board of directors to govern the GSPDC, the website says. The grant award for the GSPDC is a “tremendous boost” for the area, Onondaga County Executive Joanne (Joanie) Mahoney, said in the news release. “Neighborhoods which have suffered

will now benefit from this significant grant to our land bank. The land bank is up and running and this influx of support will help us address abandoned properties to keep the county moving forward,” Mahoney said. Syracuse and Onondaga County collaborated to launch one of the first land banks in the state, and this “significant” grant is “great news,” Syracuse Mayor Stephanie Miner said in the news release. “The funding comes as our land bank … has begun seizing tax-delinquent properties for redevelopment or demolition,” Miner explained. The projects selected for funding will carry out a range of “vital” communitydevelopment activities. They include demolition of blighted, vacant, and abandoned homes; acquisition and renovation of vacant homes, including remediation of environmental hazards; the resale of renovated properties as affordable housing for low-and moderate-income families; acquisition of vacant land that will be transferred to existing community residents who will maintain and repurpose the underutilized open space; and environmental pre-development studies and analysis that will eventually lead to remediation and redevelopment of brownfield sites, the attorney general’s office said. Proceeds from the resale of renovated properties will go back to the land banks and allow them to continue their work. The New York State Legislature approved a law in 2011 establishing land banks, which can acquire vacant, abandoned, or foreclosed properties and choose to rebuild, demolish, or redesign them. Lawmakers approved the legislation “following the collapse of the housing market,” the attorney general’s office said. By restoring vacant or abandoned properties, land banks are intended to lower costs for local governments, benefit public schools, reduce crime, and boost the local economy, according to Schneiderman’s office. However, the legislation that authorized land banks in New York didn’t provide funding for them. Schneiderman’s Land Bank Community Revitalization Initiative is “filling that gap” to allow the land banks to “fulfill their purpose,” his office said. q Contact Reinhardt at ereinhardt@cnybj.com

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NEW HARTFORD — PAR Technology Corp. (NYSE: PAR) on Oct. 30 announced net income of $445,000, or 3 cents per diluted share, during the third quarter that ended Sept. 30. The net-income figure is down from the $1.3 million, or 9 cents per diluted share, during the same quarter in 2012, the firm said in its earnings news release. The company generated revenue of more than $55 million during the third quarter, which is down from the more than $61 million in revenue generated in the year-earlier quarter, the company said. PAR Technology dealt with a “challenging� third quarter, but the firm is making “progress� on new product development and in adding incremental business in specific hospitality-business lines, Ronald Casciano, president and CEO, said in the news release. “In our government business we have identified additional opportunities with specific ISR (Intelligence, Surveillance & Reconnaissance) programs as demonstrated by the recently awarded $85 million U.S. Army contract. However, the timing of revenue from these contracts is often difficult to predict, as evidenced by the 17 percent drop in contract revenue for the quarter compared to same period last year. We expect improving business conditions into calendar year 2014, and we continue to invest in products and services that offer long-term organic growth opportuni-

PAR Technology

Symbol: PAR Recent price: 5.50 52-week high: 5.89 52-week low: 3.80 52-week change: 2.99% Exch: NYSE 6-month history

5.5 5 4.5 4 3.5 3 0

M13 J13 J13 A13 S13 O13 SOURCE: YAHOO FINANCE

ties that are consistent with our business strategy,â€? Casciano said. Based in New Hartford, PAR provides hardware and software to the hospitality industry. Products from PAR also can be found in retailers, cinemas, cruise lines, stadiums, and food-service companies. PAR’s government business provides computerbased system design, engineering, and technical services to the U.S. Department of Defense and various federal agencies. ď ą Contact Reinhardt at ereinhardt@cnybj.com

Cayuga Heart Institute earns accreditation as Chest Pain Center with PCI designation BY JOURNAL STAFF

ITHACA — Cayuga Medical Center’s (CMC) Cayuga Heart Institute has earned the full Chest Pain Center Accreditation with Percutaneous Coronary Intervention (PCI) from the Society of Cardiovascular Patient Care. While CMC has achieved Chest Pain Center accreditation since 2010, this is the first time it has included the PCI designation, CMC said in a news release. PCI opens very diseased heart arteries — including during a heart attack. Cayuga Medical Center is one of only 10 hospitals in New York state to achieve this national accreditation, according to the release. To become accredited for PCI, the Cayuga Heart Institute said it engaged in rigorous

reevaluation and refinement of its cardiaccare processes in order to integrate the health-care industry’s successful practices and newest paradigms into its cardiac-care processes. Protocol-based medicine, developed by leading experts in cardiac care, to reduce the time from onset of symptoms to diagnosis and treatment are part of the overall cardiac-care service, it said. “Hospitals with accredited Chest Pain Centers have improved patient-care delivery, outcomes, and survival rates among patients with acute heart attacks. Our cardiac team at the Cayuga Heart Institute has embraced rigorous processes to maintain our accreditation and earn this special PCI designation,â€? Dr. Amit K. Singh, medical director of the Cayuga Heart Institute at CMC, said in the release. ď ą


The Central New York Business Journal • 5

November 1, 2013

Emotional and Social Intelligence: The Key to Long-Term Leadership “If your emotional abilities aren’t in hand, if you don’t have self-awareness, if you are not able to manage your distressing emotions, if you can’t have empathy and have effective relationships, then no matter how smart you are, you are not going to get very far.” — Daniel Goleman, author of “Emotional Intelligence”

I

thought I would start by hitting you right between the eyes regarding the importance of emotional intelligence — defined as recognizing our own feelings and those of others, motivating ourselves, managing emotions well in ourselves and in our relationships. And if you find yourself taking exception to any part of the Goleman quote, perhaps you have some blind spots that are getting in your way. While I didn’t realize it at the time, my first job created my initial foray into the application of emotional and social intelligence. At 12, I had a newsVIEWPOINT paper route with about 120 customers. I was a conscientious kid, committed to doing the right thing, and reasonably eager to please. However, it wasn’t too long into my experience delivering papers that I realized some of my customers — in fact, many more than I would have imagined — had different expectations regarding what constituted good customer service. At first, I was surprised, but as my keen sense of social-awareness kicked in, I began making mental notes about my customers’ various likes and dislikes. I shared those notes with my able-bodied assistant, my 9-year-old brother Chuck, and eventually documented them so that I could have someone handle the route when we were away. At the same time, I began to notice the things customers did or said that I didn’t like (self-awareness) or that made me upset and pushed my buttons. And while I understood that it was probably not good for business to show my outward displeasure or utter disdain toward a few of the more difficult people, I was left a bit frustrated that I could not figure out a way to have those conversations in an emotionally intelligent way. Intuitively, I realized there must be some way to effectively integrate and master the skills of sharing one’s emotions in a constructive way. But I had to get past the social scripting about children being seen and not heard and being respectful to adults. This is an example of one of the challenges in getting people to be receptive to the research regarding EQ (emotional quotient) as a leadership imperative, their past scripting and beliefs regarding emotions, the display of emotions, and the importance of connecting with people at the heart level. Most of this scripting occurred at very early ages and many of us have become unconscious as to how these early experiences influence our thinking and behavior. Think back on some of the more limiting statements or messages that you may have received, or perhaps delivered, regarding emotions and the display of emotions.  Boys don’t cry.

 Showing emotion is a sign of weakness.  There is no place for emotion in the workplace. While I am certainly not advocating “emotions run amok,” I am suggesting a conscious and deliberate effort of strengthening the EQ of all your employees, bearing in mind the following:  Emotional intelligence proves to be twice as important as technical skills and IQ combined in achieving excellent job performance.  90 percent of the difference between stars and average performers at the senior leadership level is attributed to emotional intelligence rather than cognitive ability.

 Emotional intelligence can be developed and the effective application of it is challenging and requires consistent practice and support. It is not about suppressing your emotions, or being soft. It involves recognizing how you’re feeling moment to moment and finding ways to express and channel these emotions in constructive ways.  Cultivating practices that enhance your abilities in the emotional-intelligence clusters of self-awareness, self-management, social awareness, and relationship management are critical for long-term leadership effectiveness and success. It’s about intent and action, noticing the impact that emotions expressed and suppressed have on your culture.

Start small by just noticing what you notice. Spend a few minutes a couple times a day to stop, quiet your thinking, and get reconnected to your body. Use this mind-body connection to alert you in advance of the strong emotional reactions that you have to whatever is going on in your world. “The range of what we think and do is limited by what we fail to notice. And because we fail to notice that we fail to notice there is little we can do to change until we notice how failing to notice shapes our thoughts and beliefs.” — Daniel Goleman  Ralph Simone is the founder of Productivity Leadership Systems (PLS). Contact him at Ralph@DiscoverPLS.com

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6 • The Central New York Business Journal

November 1, 2013

ConMed Q3 profit slips, revises forecast down By Eric Reinhardt Journal Staff

UTICA — ConMed Corp. (NASDAQ: CNMD), a Utica–based surgical-device maker, on Oct. 24 reported that its thirdquarter net income fell to $5.7 million, or 20 cents per share, from $9.3 million, or 32 cents, in the yearago period. ConMed continued its ongoing consolidation of some administrative functions and manufacturing activities. It also incurred litigation costs related to a patent matter, the company said in a news release. The firm also incurred losses on assets associated with the termination of a product offering within the patient-monitoring product line. Expenses associated with these activities, including severance and relocation costs, amounted to $5.4 million, net of taxes, during the third quarter, according to the firm’s financial statement. As a result, ConMed reported adjusted

earnings per share of 40 cents, which met the firm’s expectations following “positive” sales growth of single-use products, improved adjusted-gross margins, and favorable income-tax adjustments, Joseph Corasanti, president and CEO of ConMed, said in the earnings news release. “The favorable growth in single-use devices, comprising over 80 percent of sales, demonstrates an encouraging sign of surgical procedure growth,” Corasanti said. ConMed generated revenue of $179.3 million in the third quarter, down 1.4 percent from $181.9 million in the yearearlier quarter. The company’s sales included a two percent increase in single-use devices, which was offset by an 11 percent decline in capital products, the firm said.

QUARTERLY REPORT

Downward revision

Looking ahead, ConMed is forecasting fourth-quarter sales between $195 million and $200 million, resulting in a total-year

sales forecast between $754 million and $759 million, which is down from its prior range of $770 million to $775 million, the company said. At those sales levels, ConMed forecasts fourth-quarter 2013 adjusted earnings per share between 47 cents and 52 cents, resulting in a full-year adjusted earnings per share forecast between $1.75 and $1.80 down from the previous full-year guidance range of $1.80 to $1.85 per share, the firm added. Zacks Investment Research, commented on ConMed’s earnings in an Oct. 25 research note, saying, “We are disappointed with ConMed’s third-quarter results, which missed the Zacks Consensus Estimate on both fronts. The persistent dismal macroeconomic conditions along with poor capital spending loom as causes of concern.” Zacks added, “ConMed’s tempered guidance failed to impress us as well. However, the only positive factor we took note of was improving surgical procedure growth, which led to higher sales of single-use surgical offerings.” Shares of ConMed fell almost 3 percent on the first day of trading following the earnings report.

ConMed Corporation

Symbol: CNMD Recent price: 36.36 52-week high: 37.82 52-week low: 25.39 52-week change: 32.32% Exch: NYSE 6-month history

37 36 35 34 33 32 31

M13 J13 J13 A13 S13 O13 SOURCE: YAHOO FINANCE

ConMed employs 3,600 people who distribute products worldwide from several manufacturing locations. ConMed has a direct selling presence in 16 countries outside the U.S., and international sales make up about 50 percent of the firm’s total sales, the company said. q Contact Reinhardt at ereinhardt@cnybj.com

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The Central New York Business Journal • 7

November 1, 2013

FLEET FEET: Negotiations for the space began toward the end of last year Continued from page 1

“We grew 62 percent in 30 months at [the current] Bridge Street [location],” says Edward (Ed) Griffin. Many of those customers are from the Liverpool, Clay, Baldwinsville, and Cicero areas, says Elizabeth (Liz) Knickerbocker, local marketing manager for Fleet Feet Sports. “We know that there’s already a good customer base here [in Clay] and a growing customer base is possible,” she says. In analyzing the DeWitt store’s customer data using ZIP codes, Ed Griffin found that 20 percent of its business was coming from the Baldwinsville, Clay, and Cicero areas. So, making it easier to generate revenue from those customers became a priority, but their travel time, in Fleet Feet’s view, has become an issue. A decade ago, Knickerbocker says, customers from the northwest area of Onondaga County didn’t have a lot of traffic to contend with to reach Interstate 481. But now, with the State Route 31 corridor much more developed, traffic is heavier resulting in a trip to the DeWitt store that “can almost take a half-hour,” according to the marketing manager. “So, we heard a lot of ‘Well, I don’t want to come across town to get to [your store],” she adds. Plus, Fleet Feet also sees customers from the Central Square, Oswego, and Watertown areas, and the Clay location will provide them a shorter drive,

eric reinhardt/THE CENTRAL NEW YORK BUSINESS JOURNAL

Edward (Ed) Griffin, the co-owner of the local franchise of Fleet Feet Sports, observes the preparations to open the franchise’s new store in Clay at the Market Fair North Plaza at 4136 Route 31 in Clay, across the highway from the Great Northern Mall. Griffin and his wife, Ellen, already operate a location at 5800 Bridge St. in DeWitt. Knickerbocker says. In addition to increased sales, the Fleet Feet Sports training programs have also grown, with programs training more than 1,000 participants each year. Fleet Feet Sports has added winter training programs,

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citing “high demand,” the company said.

Finding, securing the new space

The company started researching the possibility of a new store in Clay in the summer of 2012 and checked with the stores

that are already operating in the area, says Ed Griffin. Fleet Feet worked with CBD Companies of Syracuse to locate the space for its new store. Negotiations for the space began toward the end of last year, he adds. Griffin then secured the space in July, he says. Fleet Feet Sports is leasing its space from M & J Wilkow, Ltd., a Chicago–based real-estate firm that owns the Market Fair North Plaza, says Knickerbocker. A location of Dallas, Texas–based Tuesday Morning previously occupied the space in which Fleet Feet is now operating. On its website, Tuesday Morning describes itself as an “upscale deep discount off-price retailer specializing in domestic and international, designer and name-brand closeout merchandise.” Knickerbocker declined to disclose how much it cost Fleet Feet Sports to open the Clay location, but she indicated the local franchise financed the new store using its own assets. Boulder, Colo.–based 3 Dots Design handled the design of the new space, she adds. CBD Construction served as the contractor on the project. It also built the franchise’s current DeWitt location, says James Wade, assistant project manager with CBD Construction. Subcontractors for the work at the Clay store included Steven Segal of Down to See fleet feet, page 11

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8 • The Central New York Business Journal

November 1, 2013

Partnerships: Picking the Right Partner for Your Business D

o you and your best friend have a great idea for a business? Are you talking about being partners? Many partnerships are successful, but many more are not. You have many things to consider and discuss with your potential partners before you make the decision to proceed. As you know, small business is risky business and adding the element of a partnership increases that risk of failure. All personalities are different, everyone has a different threshold of taking risk, and everyone has different strengths and weaknesses.

Before making the commitment, have an honest discussion on the following topics: What is each partner’s vision for the company? What are the goals for the next three years? Five years? As you can guess, they better be pretty similar. How much is each partner willing to work and devote to the business? There is no such thing as a typical 40-hour workweek for small-business owners. Each partner must be willing to put in the time and energy it takes to be successful. What are each partner’s strengths and weaknesses? They should complement

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commitment. each other, not be the same.  What are the duties and Perhaps one partner’s experresponsibilities of each parttise is sales and the other’s is ner? This would include hirfinancials — both extremely ing employees, handling the important elements of the bookkeeping, making tax paybusiness. Maybe one partner ments, contacting vendors, hates paperwork, maybe one etc. doesn’t like to take the initia How much is each parttive to follow up on accounts ner going to be paid? And how receivables — make sure you often? know all of this beforehand.  Make provisions in case How is each partner’s credit? VIEWPOINT a partner wants to leave the This will be extremely imporbusiness. How will the comtant if you are applying for a loan to start or to expand the business. Without pany be valued? Does there need to be 100 good credit for each partner, you will find it percent agreement between the partners or a majority vote? almost impossible to obtain financing. Having this done in the beginning when What happens if after being in business for six months, one of the partners everyone is still friends and excited about is dissatisfied and wants out? Discuss the the business makes it a lot easier than dealpossibilities of buying the other out (which ing with the consequences if the business could be very expensive), dissolving the or the partnership goes bad. And remember: Communication will be company, or finding a new partner. All of these options can be traumatic and disrupt- a key component — always keep an open door and have regular meetings and discusing to the business.  Once the decision has been made to sions between the partners. form a partnership — make an appointment with an attorney to sign a partnership The Small Business Development Center agreement. Some of the elements of the (SBDC) at Onondaga Community College works with a range of businesses — from agreement should include:  What is each partner’s percentage of home-based, to e-commerce to large manucompany ownership? It does not have to facturing firms — providing information be equal. Some of the factors to consider relevant to making well-informed business are the money and assets each partner is decisions. Contact the SBDC by email at contributing, the responsibilities of each sbdc@sunyocc.edu or by phone at (315) partner, the expertise, and/or the time 498-6070.

THE SMALL BUSINESS DEVELOPMENT CENTER AT OCC


The Central New York Business Journal • 9

November 1, 2013

R E G I S T E R T O AT T E N D W W W. B I Z E V E NTZ.COM

CONGRATULATIONS TO THE 2013 HONOREES! n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n

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November 20, 2013 11:00 AM - 2:00 PM

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10 • The Central New York Business Journal

November 1, 2013

ENVISAGE: Firm prides itself on its laid-back and family-like work atmosphere Continued from page 1

company’s inclusion on the Inc. rankings. Founded in 1990, Envisage specializes in software that provides web access, data connection, and workflow automation products to the retirement industry. With an increasing number of people participating in retirement plans as well as the complex nature of the industry and its regulations, Envisage has seen success by offering products that help make solving complex problems easy for the companies that manage those retirement plans, says Daren Free, Envisage’s COO. “That capability is rare in our industry,” he says. “That’s a big piece of what’s driving that demand and that growth.” McGonagle says he expects that growth to continue as Envisage continues to gain market share. “We’re looking to double in size again over the next 18 months,” and then double again after that, he says. He expects the company will have added a total of 100 employees in 2013. Annual revenue is now more than $20 million and growing. Surprisingly, Envisage does not have a sales force and gains the majority of its new clients through word-of-mouth marketing and recommendations from current clients, he says. Inclusion on the Inc. 5000 list certainly helps win new clients over, McGonagle says. Being on the list has also become a valuable recruiting tool as the company looks for new employees, Free adds. “We are constantly looking to hire developers, business analysts, people who really understand this retirement space,”

PHOTO COURTESY OF ENVISAGE INFORMATION SYSTEMS

Envisage employees work in the company’s Lansing headquarters. Founded in 1990, Envisage specializes in software that provides web access, data connection, and workflow automation products to the retirement industry. he says. The company looks frequently to new college graduates to fill those roles, he notes, but in the past it wasn’t always easy to convince them to come to Ithaca. “People are starting to understand who we are and seek us out,” he says since the company has made the Inc. 5000 list three times. Now, Free says, when he encounters soon-to-be college graduates, not only have they heard of Envisage, but they also

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often know someone who is working there and may already have plans to apply for a job themselves. The Inc. 5000 list has also benefited the company in another way, McGonagle says, and that is boosting current employee morale. “It feeds the culture of people having autonomy and self-direction and pride of accomplishment,” he says. Envisage prides itself on its laid-back

and family-like work atmosphere, says James Mandle, head of marketing and communications for the company. “It’s not the typical corporate America,” he says. With a “fun room” where employees can take breaks, a family atmosphere where everyone goes by their first name instead of a title, and heavy emphasis on teamwork, Envisage’s work environment is more of a Google-type workplace, he says. Google is known for its employee perks that include things like game rooms, massages, and the like. This past spring, Envisage was named one of the top 10 companies in the Central New York’s Best Places to Work for employers with 51 or more employees. More than 1,100 employees participated in the surveys conducted by Research and Marketing Strategies Inc. (RMS), which determined the top ranked companies. CNY’s Best Places to Work is a BizEventz and Central New York Business Journal event. Headquartered at 31 Dutch Mill Road in the town of Lansing, Envisage (www. envisagesystems.com) also has offices at 306 E. Main St. in Endicott and in the Jefferson Towers at 50 Presidential Plaza in Syracuse. The company employs just over 20 people in each of those offices. On its website, Envisage describes itself as the largest independent software development company providing web, common remitter, and workflow solutions for the retirement industry. Since 1995, it has been exclusively serving mid- to large-scale record keepers and financial companies.  Contact The Business Journal at news@cnybj.com


The Central New York Business Journal • 11

November 1, 2013

SBA names top CNY lenders during fiscal year 2013 ERIC REINHARDT JOURNAL STAFF

SYRACUSE — M&T Bank (NYSE: MTB), NBT Bank (NASDAQ: NBTB), and Adirondack Bank were the most active small-business lenders in the Central New York region during the 2013 fiscal year that ended Sept. 30. That’s according to Bernard J. Paprocki, executive director of the Syracuse district office of the U.S. Small Business Administration (SBA). The banks had the highest number of 7(a) approvals in their respective categories based on asset size, the SBA said in a news release. The 7(a) program is the SBA’s primary loan program meant to help start-up and existing small businesses to obtain financing when they might not qualify for business loans that are not backed by the government. For the eighth consecutive year, M&T Bank topped all large commercial banks

in the Central New York region and the entire 34-county Syracuse SBA district, the agency said. M&T Bank approved 70 loans for small businesses in Central New York with a value of $7.6 million and a total of 150 loans district-wide totaling $17.1 million, according to the SBA. M&T Bank is also the most active third-party lender in the Syracuse district’s 504 program with 14 loans valued at $26.4 million, the agency said. The 504 program is designed to assist entrepreneurs in obtaining long-term, fixed-rate financing for capital assets like the purchase of real estate and equipment with a minimum useful life of 10 years. The 504 program is offered through certified development companies (CDCs), which are private, nonprofit corporations set up to contribute to the economic devel-

opment of their communities. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. NBT Bank was the most active large community lender in Central New York and the Syracuse district for the third consecutive year, the SBA said. It approved 20 loans for Central New York businesses valued at $2.9 million and 50 loans district wide worth $5.8 million, the agency added. Adirondack Bank was the top small-community lender in Central New York with 10 loan approvals valued at $6.2 million, according to the SBA. “Strong� relationships with the agency’s lending partners are “essential� in providing small-business owners with muchneeded access to capital, Paprocki said in the news release. “With continued partnership, Central

New York entrepreneurs can continue to create jobs and invest in their businesses and communities,â€? Paprocki said. Buffalo–based M&T Bank has more than $83 billion in assets and more than 725 branch offices in its footprint that includes eight states, Washington, D.C., and the province of Ontario, Canada. NBT Bank, N.A., part of Norwich–based NBT Bancorp, has 161 locations, including 121 NBT Bank offices in upstate New York, northwestern Vermont, and western Massachusetts; 35 Pennstar Bank offices in northeastern Pennsylvania; and five Hampshire First Bank offices in southern New Hampshire. Headquartered in Utica, Adirondack Bank operates 18 branch offices throughout Central and Northern New York, including an office at 120 E. Washington St. in Syracuse. The bank has about 165 employees. ď ą Contact Reinhardt at ereinhardt@cnybj.com

FLEET FEET: All Fleet Feet employees are trained on basic biomechanics Continued from page 7

Earth Electronics, LLC of DeWitt, which handled the electrical work; Dannan Plumbing, LLC of Onondaga; Jett Painting, Inc. of Phoenix, which handled the painting work; and The Effect Group, Inc. of Syracuse was responsible for the flooring work at the store, according to Wade. Efforts to prepare the space for the Nov. 1 opening continued in the final days of October.

“I think that we really want to make sure that customers know that both locations have the same materials, the same quality staff,� Knickerbocker says. The Clay location will house the local franchise’s training department, and its purchasing department will work at the DeWitt location, she adds. The store’s products will arrive at the DeWitt store before shipment to the Clay store, if necessary. The local franchise of Fleet Feet Sports

employs 40 people, including a mix of fulland part-time employees. The company has plans to hire 10 additional workers to service both locations, Knickerbocker says. Besides merchandise, Fleet Feet Sports can also analyze a customer’s gait (a manner of walking or moving on foot), while the person runs or walks on an indoor track. All Fleet Feet employees are trained on basic biomechanics and use a barefootanalysis system of the foot in motion to understand a customer’s foot function.

The iPad gait analysis and the barefoot analysis systems allow for “more accuracyâ€? when fitting customers for sneakers, Fleet Feet said. Fleet Feet, Inc. is a national 89-store chain that Sally Edwards and Elizabeth Jansen opened in Sacramento, Calif. in 1976. The company is now headquartered in Carrboro, N.C., according to the website of Entrepreneur magazine. ď ą Contact Reinhardt at ereinhardt@cnybj.com

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12 • The Central New York Business Journal

november 5 n You Can’t Fail 5th Anniversary Annual Conference presented by Gwen, Inc. from 4 to 9 p.m. at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. The theme is “In Her Footsteps: Celebrating the spirit of Harriet Tubman,” commemorating the 100th anniversary of Harriet Tubman’s death. The event will feature vendors, live musical performances, and educational presentations, and inspiring words from regional women. Tickets are $75. For more information and to register, visit, www.YouCantFail.com

november 6 n Leadership Mohawk Valley Annual Mixer from 5:30 to 7:30 p.m. at Club Monarch, 16 Erie St., Yorkville. Admission to the event is $25 per person and is open to all alumni, sponsors, business professionals, and anyone looking to be part of an energetic, talented group of Mohawk Valley leaders. RSVP at www.leadershipmohawkvalley.net or by calling (315)-7927551.

november 7 n Dannible & McKee, LLP’S 36th Annual Tax and Financial Planning Conference from 11:30 a.m. to 5 p.m. at the DoubleTree by Hilton Hotel Syracuse, near Carrier Circle. Nearly 300 Central New York business professionals will attend to learn about the most recent tax, accounting, and financial changes facing businesses and individuals this year and provide them with key year-end strategies. No cost to attend. Registration is required. Contact Jill Richmond, marketing director, at (315) 4729127 x137 or email: jrichmond@dmcpas.com

november 7, 11, & 21 n Small-Business Startup Training Program from 9 a.m. to 4:30 p.m. each day at 222 Water St. in downtown Binghamton. The Binghamton University Small Business Development Center (SBDC) will offer this program to help participants learn how to assess, plan, and start up a business. To obtain a class program and to enroll, contact Ginny Thompson at the SBDC (607) 777-4026.

november 8 n Project-ION Training & Education Fall Seminar from 8 to 10 a.m. at CenterState CEO 572 South Salina St., Syracuse. This year’s event will help your business start or improve its internship program and will include an expert panel. This is a free event. For more information or to register, contact Jessica Blair at jblair@centerstateceo.com or visit http:// projection13.rsvpify.com n AFWA 43rd Annual Tax Seminar from 8 a.m. to 5 p.m. at Barbagallo’s Restaurant, 6344 E. Molloy Road, East Syracuse. Cost is $85 for AFWA members. Register by Nov. 4 by contacting Alanna at programs@cnyafwa.org or visiting the web page: cnyafwa.org/events

november 12 n Fink Institute (IMPARA) and SUNY Oswego Public Forum on Geriatric Mental Illness from 8:30 to 11:30 a.m. at the Syracuse Crowne Plaza Hotel. All are invited to the forum entitled “Aging in Focus: Geriatric Mental Health,” which is part of the Geriatric Mental Health Community Action Initiative presented by the Rodney S. and Marjorie Fink Institute of Research on Aging at Menorah Park and the SUNY Oswego Metro Center Active Aging and Community Engagement Center. National geriatric expert Dr. Stephen Bartels from Dartmouth University will be key-

November 1, 2013

Business alendar C

OF EVENTS

note speaker. For more information, or to register for this free event, contact Judith Huober, at (315) 446-9111, ext. 236, or email: jhuober@ menorahparkcny.com n Talk and Tour of the Central New York Biotech Accelerator by James H. Watson, executive director from 5:30 to 8 p.m. at the Central New York Biotech Accelerator, 841 E. Fayette St., Syracuse. This event is part of the Technology Alliance of Central New York’s (TACNY) 20132014 Sweet Lecture Series. People interested in learning more about the Central New York Biotech Accelerator are invited to attend the TACNY Sweet Lecture presentation. Admission is free and open to the public. RSVP by emailing sweet.lecture@tacny.org

november 13 n Spirit of American Women Event from 11:30 a.m. to 1 p.m. at the Ramada Syracuse, 1305 Buckley Road, Syracuse. Presented by the YWCA Syracuse and Onondaga County, the event is celebrating the “strong, smart, and bold” women in our lives. The keynote speaker will be Ellen Griffin, co-owner of Fleet Feet Sports Syracuse. Lunch is complimentary. You will be invited to make a confidential gift at the event to support the women and girls served through the YWCA programs. To RSVP and receive more information, visit www.ywcasyracuse.org or contact the main office at (315) 424-0040, or email: ywcaadmin@cnymail.com

november 14 n Workplace Wellness Awards from 7:30 to 10 a.m. at the SRC Arena & Events Center, Syracuse. The awards will honor companies who show exceptional dedication in creating a work environment that encourages healthy living among its employees. The cost to attend is $35. For more information or to register, visit www.BizEventz.com, call Joyl Clance at (315) 579-3917 or email: jclance@bizeventz.com n Thinking Forward - Powerful Ideas to Transform Your Community from 11:30 a.m. to 1:30 p.m. at the Redhouse Arts Center at the Café, 201 S. West St., Syracuse. Early bird price is $25, general admission is $35. The program fee includes lunch. Register online at thinkingforward.eventbrite.com

november 19 n NEXT: The Event for Technology, Manufacturing & Innovation from 7:30 a.m. to 5 p.m. at the Holiday Inn Syracuse – Liverpool, 445 Electronics Parkway. The luncheon keynote speaker will be Neil deGrasse Tyson, internationally renowned astrophysicist, science policy expert, and media personality. The morning keynote, “Making It In America: Shifting Economics Create New Opportunities,” will be presented by Harry Moser, president and founder of the Reshoring Initiative. Visit www.next-syr. com for more event and program details.

november 20 n 40 under Forty Awards from 11 a.m. to 2

p.m. at the Oncenter. This event recognizes 40 ambitious, hard-working, civic-minded individuals under the age of 40. The cost to attend is $65. For more information or to register, visit www.BizEventz.com, call Joyl Clance at (315) 579-3917 or email: jclance@bizeventz.com

december 5 n Legacy Awards from 6 to 9 p.m. at The Museum of Science & Technology (MOST), 500 S. Franklin St. in Armory Square, Syracuse. The cost to attend is $100. For more information or to register, visit www.BizEventz.com, call Joyl Clance at (315) 579-3917 or email: jclance@ bizeventz.com

december 6 n Training Workshop: Connecting Grantseekers with Grantmakers from 9:15 to 10:30 a.m. at Robert P. Kinchen Central Library. This is a free workshop for 501(c)(3) nonprofit organizations. Learn about the resources and services of the Nonprofit Resource Center and receive hands-on training and strategies for searching the Foundation Directory Online database to locate new funding prospects. Meet on the 3rd floor of the Central Library for collection orientation. Call the Central Library at (315) 435-1900 to pre-register or to find out about scheduling on-site group training.

ONGOING EVENTS n Every Tuesday, Cayuga Club Toastmasters from 6 to 7 p.m. at Cornell University, Ithaca, Rhodes Hall, 6th Floor, Conference Room #655. Free and easy parking is available nearby at Peterson Lot. For more information, contact Julia Reich, (315) 3647190 or email: juliareichdesign@gmail.com n Every Tuesday, Syracuse Business Connections from 3:30 to 5 p.m. at Hummel’s Office Plus, 6731 Old Collamer Road, DeWitt. The group meets to network and exchange referrals. For more information, email: Deb Angarano at dangarano@tsys.com n Every Wednesday, Small Business Development Center at OCC from 4 to 6 p.m., Introduction to Business Startup at H-1 Hall. Please call 498-6070 or visit www.onondagasbdc.org n Every Wednesday, Syracuse Business Networking from 6 to 7 p.m. at Barbieri’s Restaurant (upstairs level) located on Main Street in the village of North Syracuse. For more information, call Kim Bachstein at (315) 414-8223 or email: info@ SyracuseBusinessNetworking.com n First Wednesday of each month, Business Innovation Days meetings from 9 a.m. to 5 p.m. at The Tech Garden, 235 Harrison St., Syracuse. Entrepreneurs and small businesses can meet one-on-one with a counselor from the SBDC for advice and customized assistance opportunities. Scheduled by appointment, call (315) 474-0910 or email: info@ thecleantechcenter.com

n First and Third Wednesday of each month, Preferred Toastmasters from noon to 1 p.m. at Golden Artist Colors, 188 Bell Road, New Berlin. Contact Jonie Bassett at (607) 8476154, x1217. n Fourth Wednesday of each month, Preferred Toastmasters from 5:30 to 6:30 p.m. at Chenango County Council of the Arts, 27 W. Main St., Norwich. Contact Jonie Bassett at (607) 847-6154, x1217. 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://1427.toastmastersclubs.org or email: contact-1427@toastmastersclubs.org n Every Thursday, Free Business Counseling with SCORE from 10 to 11:30 a.m. at the Tioga County Chamber of Commerce, 80 North Ave., Owego. Contact the Tioga County Chamber of Commerce to make an appointment at (607) 687-2020. n Every Thursday, Liverpool Linguists from 7 to 8 p.m. First Thursday of every month at Liverpool Public Library and the remaining Thursdays at Liverpool First Methodist Church, 604 Oswego Road, Liverpool. For details, visit http://Liverpool.toastmastersclubs.org or call (315) 884-2668 or 457-2581. n Every second and fourth Thursday of the month, The North Star Toastmasters from noon to 1 p.m. at C&S Companies, 499 Col. Eileen Collins Blvd., near Hancock Airport. For more information, contact Sandy Jurkiewicz at sjurkiewicz@centerstateceo.com or call (315) 470-1802. n Third Thursday of each Month, CNY ASTD Happy Hour from 5 to 7 p.m. at Coleman’s, 100 S. Lowell St., Syracuse. Informal networking for learning and development professionals. For more information, call (315) 546-2783 or email: info@cnyastd.org n Every Friday, 40 Above: Workers in Transition from 9 to 11 a.m. at the library in North Syracuse (NOPL) at 100 Trolleybarn Lane, North Syracuse. Helping workers/job seekers aged 40 and above in search of work. Contact John A. Cruty at (315) 569-3964, or at crutij@yahoo.com n Every Friday, Tip Club of Syracuse, at the Sheraton Syracuse University Hotel, 801 University Ave., Syracuse, 8 to 9 a.m. Call Bernie Bregman at (315) 472-3903 or email: bbregman@cnybj.com n First Friday of each month, Toolkit Day with SCORE by appointment at The Tech Garden. Counselors provide free, confidential, individual business mentoring to prospective or current business owners. For more information or to make an appointment, contact Lynn Hughes at (315) 579-2862 or email Lynn@ TheTechGarden.com n Every second and fourth Friday of each month, The SUN Group (Sustainable Upstate Network) meets from 7:30 to 9 a.m. at Tony’s Family Restaurant, 3004 Burnet Ave., Syracuse. For more information, contact Andy Picco at (315) 657-0135 or email: andrewpicco@gmail.com n CNY Connects is a networking organization offering 12 groups from which to choose. If you are interested in learning more, contact Amy Kaschel of AK Consulting at akconsult@twcny. rr.com or call (315) 882-6127 or visit www.cnyconnectsonline.com To have your meetings or events in the Business Calendar, email them to movers@cnybj.com


November 1, 2013

opinion

Business Journal C e n t r a l

N e w

Y o r k

New Yorkers and Their Elections

Volume 27, No. 44 - November 1, 2013 NEWS Editor-in-Chief........................Adam Rombel arombel@cnybj.com Associate Editor.............Maria J. Carbonaro mcarbonaro@cnybj.com Staff Writers.............................. Eric Reinhardt ereinhardt@cnybj.com ....................................................Norm Poltenson npoltenson@cnybj.com Contributing Writers................Traci DeLore Angie N. Toribio Columnists...................................Brian M. Kolb Tom Morgan Production Manager.......................Erin Zehr ewebb@cnybj.com Research Manager.................. Nicole Collins ncollins@cnybj.com SALES Sr. Account Managers....................................... Bernard B. Bregman bbregman@cnybj.com Mary LaMacchia mlamacchia@cnybj.com Account Manager................... Daniel Buddie dbuddie@cnybj.com Marketing .......................BBB Marketing Inc. CIRCULATION Circulation Management....(315) 579-3927 Administrative Publisher..........................Norman Poltenson npoltenson@cnybj.com Chief Operating Officer......Marny Nesher mnesher@cnybj.com Business Manager..................... Kurt Bramer kbramer@cnybj.com

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HOW TO REACH US MAIL: Send letters to: Editor, The Central New York Business Journal 269 W. Jefferson St. Syracuse, N.Y. 13202-1230 EMAIL: letters@cnybj.com PHONE: (315) 472-3104

The Central New York Business Journal • 13

D

  ear people of New York City: We   do not understand. Some of us   who live Upstate. We do not understand. Wait. Let me put that into Big Apple lingo: What??? Are youse nuts or sumpin’? I refer to your upcoming election. You are going to elect a new mayor who is so liberal Fidel could take lessons from him. And he is promising to reverse basic policies that have made the City easier to visit and live in. And safer. Don’t forget safer. Apparently you have. This guy says he will sack Police Commissioner Kelly. He wants to kill “stop and frisk” policies that have helped bring your money murder numbers down talk and down. They have taken truckloads of weapons off your streets. He wants to reverse policies of Bloomy and Giuliani that rescued your streets from thugs. We don’t understand. Used to be a battalion of squeegee guys would extort cash from us when we drove into the City. Used to be we did not park on your streets — because we enjoyed our car having a radio. Used to be we didn’t dare break down on the Henry Hudson

tom morgan

Parkway. Leave for 30 minutes, we came back to a car without wheels. Leave for an hour, no doors. Today we can park and leave the car unlocked. Used to be New York was about the most dangerous city in the Western World. Today it is the safest. Used to be we wore bullet-proof undies to walk your streets at night. We looked over our shoulder constantly. These days, none of that. Used to be we went to Toronto to watch musicals. Rather than chance a mugging or two on Broadway. Now we come to New York. Used to be waiters and hotel clerks and people on your streets abused us. They abused each other. They were nasty. Because in such a wretched atmosphere they trusted no one. Today, we find friendliness everywhere in the City. Used to be we could spot the City folks when they arrived Upstate for vacations and weekends. They looked hunted. They looked like they had escaped a jungle. Which they had. These days they tell us they love the upstate quiet. But they love the city too. You know all those busloads of pinkhaired ladies coming into town to lunch and catch a matinee? In the bad old years the buses were carrying pink-haired ladies out of the City. So what is it with you people and your election? Finally, you have seen some improvement in your schools. Led by charter schools.

Charter schools have made big and positive differences in the lives of your kids. And you are going to elect a guy who hates them? He promises to make it more costly for charters to operate. Maybe this is our fault. You drink water from Upstate. Maybe we’ve got rabid raccoons peeing in the water. They do that, you know. Can’t stop ‘em. Maybe some of our new upstate distilleries are dumpin’ hootch into the streams that feed your reservoirs. And we grow a lot of weed up here. Maybe … ? Who knows? We are simple folks up here. We don’t understand complicated things like running a big city. But this much we do understand: The Big Apple used to be the Big Cesspool. We avoided it and you fled it. Because it had four or five times the murders it now has. It had muggings by the tens of thousands. It had areas where cops dared not drive through at high speed. Nastiness to visitors was its middle name. Today it is much, much, much improved. And now you want to elect a guy who promises to dismantle the very programs that worked for you? Are youse guys whacky or sumpin’? From Tom...as in Morgan. q Tom Morgan writes about political, 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

Finger Lakes Viticulture Center Begins a Promising New Chapter for Our Region

I

  t was an exciting week in our   community, as we collectively   celebrated the groundbreaking of what will be a transformative and historic endeavor. On Thursday, Oct. 24, I joined Finger Lakes Community College (FLCC) President Barbara Risser, Senator Mike Nozzolio, and other community leaders to launch the construction of the Finger Lakes Viticulture Center in Geneva. Once completed, the Viticulture Center will bolster FLCC’s world-class Viticulture and Wine Technology Program, enhancing the school’s educational offerings, generating new jobs, and allowing opinion our region to achieve greater innovations in agricultural research and development. To learn more about FLCC’s world-class program, please visit the school’s website at http://flcc.edu/academics/viticulture/. As your assemblyman, I am extremely proud of my work and collaboration with Senator Nozzolio to secure a $3.2 million investment from the state for the new center. As an FLCC graduate, I’m proud of the expansion the school continues to make. And

brian m. kolb

as a resident of the Finger Lakes region, I’m proud that we serve as an example to the rest of New York on how to create jobs, foster business opportunities, and commit to emerging industries.

Serving as an Example for the Rest of New York

The Finger Lakes region is already home to a number of farms and wineries with a proud tradition of producing quality products. With this week’s groundbreaking, we are continuing to cultivate a growing industry and committing to progress. We are not going to rest on past accomplishments, but instead will seize this opportunity to improve the already world-class viticulture sector in New York. A thriving viticulture industry brings jobs, prosperity, and products of which we can be proud. The new Viticulture Center perfectly represents the direction New York needs to be going and employs the basic principles necessary to get our economy turned around. n A continued focus and investment into emerging industries — like our wineries and agriculture — broadens the opportunities for real job growth and gives industry necessary resources and support to achieve long-term success. n Providing educational tools and training enables a new generation of workers to develop skill sets that align with industries

that need highly trained workers. Just as the Viticulture Center will lead to new innovation and learning, industries like biotechnology and advanced manufacturing will only succeed here if New York has a skilled workforce that is equipped to meet the demand. n Developing public-private partnerships, like the collaborative approach used to make the new center a reality, facilitates the sharing of ideas and taps into the expertise of a number of professionals. Government can do its part — but New York State’s businesses succeed when Albany gets out of the way, and local innovators and entrepreneurs have the freedom to achieve their goals. As we saw this week in Geneva, this recipe for success has become a reality for our region. The continued progress and focus on our local industry will lead to a brighter future for all New York. Breaking ground on the Finger Lakes Viticulture Center is cause for celebration — for the hard work, for the collaboration and because we are putting ourselves on a path toward a sustainable economy. q Brian M. Kolb (R,I,C–Canandaigua) is the New York Assembly Minority Leader and represents the 131st Assembly District, which encompasses all of Ontario County and parts of Seneca County. Contact him at kolbb@assembly.state.ny.us


14 • The Central New York Business Journal

November 1, 2013

PEOPLE ON THE MOVE: NEW HIRES & PROMOTIONS ARCHITECTURE & ENGINEERING The New York Legislature recently passed a bill amending Article 15 of the New York Business Corporation Law and the New York Education Law that allows, with restricPohl tions, non-licensed employees to be equity shareholders in Design Professional Corporations (D.P.C.). Beardsley Design Associates Architecture, Engineering, Landscape Architecture, D.P.C. has welcomed new shareholders, Patricia M. Pohl, CPA, chief financial officer and Thomas W. Wight, business development manager. Pohl joined Beardsley Design Associates in 1995 and Wight joined the firm in 2003. Wight Beardsley Design Associates also announced that Chelsea L. Armstrong has joined the firm as a civil engineer II in the Syracuse office. She is a 2013 Clarkson University graduate with a bachelor’s degree Armstrong in civil engineering, with a concentration in structural engineering. Armstrong has acquired her New York State Engineer in Training certificate.

PERFORMING ARTS Redhouse Arts Center has added a new managing director, marketing director, business manager, and café manager/chef to its staff. Stephanie Leaf, managing director, comes to Redhouse from her

second summer at Chautauqua Theater Company in Chautauqua, where she previously held the position of business manager. Leaf recently moved back to the area from London after completing her master’s degree in musical-theatre producing at Goldsmith College. Leaf is currently completing her Ph.D. in musical-theatre producing with a drama concentration at Goldsmith College. She has nearly seven years experience in theatre production, both in the U.S. and Europe. Rachel Boucher, marketing director, also returns to Syracuse after a summer working in the marketing department of New York City Center. She is a recent graduate of the inaugural class of the Janklow Arts Leadership Master’s Program at Syracuse University, and also holds a bachelor’s degree in vocal performance from the Setnor School of Music at Syracuse University. Caitlin Moriarty returns to Syracuse as Redhouse’s new business manager. She holds a bachelor’s degree in music industry from the Setnor School of Music at Syracuse University, and a master’s degree from the Janklow Arts Leadership Program. Moriarty recently spent time this summer in the marketing department of Carnegie Hall in New York City. With more than 15 years experience, Shannon Pride joins the Redhouse Café as head chef and café manager. He holds a degree in business management from Central City Business Institute in Syracuse, and has experience in all things restaurant related, including event planning, management, menu design, food preparation, baking, and cooking.

EDUCATION & TRAINING Erin Craig has been promoted to director of undergraduate admission at Le Moyne College. She joined the college in 2005 as an admission counselor, was promoted to assistant director in 2007,

and elevated to associate director in 2010. Craig received her bachelor’s degree from Le Moyne in business administration in 2003, and a master’s degree in general education in 2008. Jennifer Reddy has been named the assistant director and veterans’ coordinator in the Office of Continuing Education at Le Moyne. She formerly worked in the college’s disability support services Reddy and holds a bachelor’s degree in philosophy from Le Moyne.

FINANCIAL SERVICES Michele Bebee has joined M. Griffith Investment Services, Inc. as an operations assistant. She brings more than 11 years of customer service, business management, and banking skills. Bebee Sara Bonomo joined the Evans and Topi team at M. Griffith Investment Services to assist the team and its clients with a variety of administrative duties. She is a graduate of Le Moyne College, where she obtained a Bonomo bachelor’s degree in communications with a public-relations concentration. While at Le Moyne, Bonomo studied abroad in Barcelona, Spain. Prior to joining M. Griffith, she worked as a short-term disability case manager for Metropolitan Life Insurance Company.

HEALTH CARE Craig

Keith LeBlanc has joined The Oaks at

Menorah Park of CNY as executive chef. He brings 10 years of restaurant and catering experience. Most recently, LeBlanc worked at the Hebrew Home of Washington, D.C. Lauren Penc recently joined the rehabilitation staff of Valley Health Services (VHS). She earned her doctorate in physical therapy at MVCC and Utica College earlier this year.

LeBlanc

Penc

INSURANCE Gail Reddy has been appointed as a sales representative/benefits consultant for the Southern Tier District of Colonial Voluntary Benefits with offices in Johnson City. She has successfully completed her New York State life, accident, & health insurance agent licensure.

MANUFACTURING CPE (Corrosion Products & Equipment, Inc.) has promoted Frank Carello to vice president of business development and contracts. He joined CPE in 2009 after 28 years in the power-generation industry as a procurement and contract manager. As an officer of the company, Carello has the authority to represent the business owners in various business transactions.

MEDICAL PRODUCTS Danlee Medical Products, Inc. announced that Laura S. Prattico has joined the firm as a marketing director. She holds a bachelor’s degree from SUNY Oswego and brings more than 14 years experience in the field to her position. 

CNYIBA: The relaunch of CNYIBA follows the 2011 development of the CenterState Export Plan Continued from page 2

State of the Union address called for a doubling of exports by 2015. Inficon “doubled” its exports by the end of 2012, Maier said. As a result, the U.S. Department of Commerce on May 20 awarded Inficon the President’s “E” Award for Exports, the “highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports,” according to the Inficon website. CNYIBA is looking for regional small and medium-sized businesses that want to expand their efforts in exporting, David Mankiewicz, senior vice president and director of infrastructure and urban activities at CenterState CEO, said in his remarks at the event. “Collectively, this region right now has $8.7 billion worth of exports. Even with that number, we’re an underperformer,”

Mankiewicz said. To capture more of that global market, the region must boost its international orientation and become more globally engaged. To do that, the CNYIBA needs “buy in” from the business community, Mankiewicz added. “And that’s why we encourage businesses of all sizes to make exporting a strategic priority and to get involved with the new CNYIBA,” he said. The relaunch of CNYIBA follows the 2011 development of the CenterState Export Plan, which a group of regional partners devised with the Brookings Institution, a private, Washington, D.C.–based nonprofit organization that focuses on independent research. The plan called for a lead agency to provide export services and guidance to local companies, and the CNYIBA holds the designation, the organization said. The CNYIBA dates back to the mid-

“Collectively, this region right now has $8.7 billion worth of exports. Even with that number, we’re an underperformer,” Mankiewicz said. 1990s, and, in assuming its new role in guiding local companies in the exporting process, the organization has “transitioned,” Mankiewicz said. “The IBA before was a great effort, but it was an all volunteer effort,” Mankiewicz responded in answering a reporter’s question. Several of its programs, such as Export New York, will continue, he said. Export New York trains companies on how to export their products.

When another reporter asked how this CNYIBA is different from the original organization, Maier replied that one of the “significant” differences is that board membership includes “a number” of companies that are involved in exporting. “I would say it’s a more balanced board … as experienced exporters, we believe that we can bring something to the table and that’s experience,” Maier said. Membership in the CNYIBA is open to any business or individual located in the CenterState region with an interest in learning about, assisting with, or participating in international-business activities, according to the CNYIBA website. CNYIBA offers four distinct levels of membership; price is determined by business size and affiliation with its economicdevelopment partners, the website says.  Contact Reinhardt at ereinhardt@cnybj.com


The Central New York Business Journal • 15

November 1, 2013

Responding to Negative Posts on Social Media T

oday’s technology makes it easy to engage with customers when things are going great. But what about when things are not going so well? How you engage with your audiences during difficult situations can be crucial to your organization’s survival. If a problem arises, it’s important to respond quickly, address the concerns with empathy, and offer a solution. Allowing your THE STRATEGIC clients to know that MINUTE they can openly communicate with a specific person in your organization, instead of simply receiving an automated response, is key.

LYNDSAY HOLLIS

Social media has increased the need for public-relations professionals to also handle customer service, and do it properly. How you handle complaints can make or break your reputation and relationships within the community. If a negative comment appears on your organization’s Facebook or Twitter page that you do not want to respond to, just deleting it is not the way to go. Your followers will notice this action and think that you are hiding something. You can take the conversation offline, however, showing the customer that his or her feedback is important, but also preventing further complaints from being viewed publically, and enticing additional public discussion. If you can resolve the individual’s original concern, he or she may even re-enter the social-media space with a positive comment about your response.

CNYBJ CANVASS

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20% Finding quality employees

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Rising costs of doing business

Government regulations

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This survey is not a scientific sampling, but offers a quick view of what readers are thinking.

The bottom line is to treat conversations on social media much like you would when talking to customers in person. Read what they have to say, think before answering, and then respond in a timely manner. Most of the time, that will do the trick. Are you being heard? 

Lyndsay Hollis is a public-relations consultant at Strategic Communications, LLC, which says it provides “trusted counsel” for public relations, crisis communications, government relations, and business strategy. Contact Hollis at lhollis@stratcomllc.com

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16 • The Central New York Business Journal

November 1, 2013

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Banking

SPECIAL REPORT

Wealth management boosts Community Bank’s growth By Traci DeLore contributing writer

DeWITT — Community Bank System, Inc.’s (NYSE: CBU) wealth-management services are a key growth driver for the company, producing nearly 20 percent revenue growth in the third quarter and almost 23 percent growth through nine months of 2013. Along with being the parent company of Community Bank, N.A., Community Bank System also operates four subsidiaries that operate collectively as its financial-services division under the Community Bank Wealth Management moniker. Those subsidiaries are: Community Investment Services, Inc., a full-service brokerage and wealth-management firm offering products through the bank’s branches; Nottingham Advisors, Inc., a national boutique investment headquartered in Buffalo; CBNA Insurance Agency, Inc. a property and casualty insurance firm with five northern New York offices; and Community Bank Trust Services, which offers a range of trust services, such as estate settlement, as well as investment management. Community Bank decided to align those business units and create Community Bank Wealth Management (CBWM) about two years ago, says Paul Restante, managing director of CBWM and president of Community Investment Services. Each of the business units has generated growth, and collectively contributes to Community Bank System’s top and bottom lines, he notes. CBWM, which has nearly $3.75 billion in assets under management, generated more than $3.8 million in revenue in the third quarter, up from nearly $3.2 million a year ago — driven by business expansion in trust services, asset management and advisory services, and favorable market conditions, Community Bank System said in its earnings report. Through three quarters of 2013, CBWM has produced almost $11.6 million in revenue, up from more than $9.4 million in the yearago period. Wealth-management services contributed more than one-eighth of

Community Bank System’s reported non-interest income of $27.6 million in the third quarter (see sidebar article for more on the earnings report). Knowing that the work CBWM is doing contributes directly to the bank’s financial results is a pretty good feeling, Restante says. “That really relates to the share price,” he notes. Community Bank System’s stock price is up about 35 percent year to date (as of Oct. 25.) To help CBWM continue its upward trend, Restante is looking at the four subsidiaries individually to target growth opportunities. Community Investment Services, with a staff of 30 full-time financial consultants, is already poised to grow about 46 percent this year, with revenue projected to rise to $7 million, compared to $3.9 million last year, Restante says. That growth has come from a variety of factors including better integration with Community Bank branch personnel, he says. Branch employees are being trained to better identify customers with a need for investment services and help arrange meetings between customers and Community Investment Services financial consultants. Restante plans to continue that growth by continuing to promote that integration, sharpening the focus on advisory fee-based planning, new hires to increase the sales force, and encouraging employees to concentrate on developing relationships with their clients, which can boost cross-selling of other products. Community Bank Trust Services is producing growth as many other banks get out of the trust business, Restante says, as well as from an increased market need for investment-management services. That opens up the opportunity for CBWM to capture new clients as individuals and institutions are looking for a new provider of trust, estate settlement, and fiduciary services, he notes. Trust services are also growing as CBWM expands geographically. It already provides such services in Wisconsin, Florida, Maryland, and Virginia and is able to branch out “anywhere where we have clients that have gravitated to other states that need trust services,” Restante says. Nottingham Advisors, which has

offices in Williamsville as well as in Palm Beach, Fla., works with businesses, institutional investors, and high net-worth individuals. The firm has produced growth by marketing to other independent broker/dealers and financial advisors, many of whom are looking for the services Nottingham offers without the hassle and paperwork that comes with staying on top of regulations on their own. Growth will also come from expanding further in Florida. The firm, which currently has an office in North Palm Beach, is looking at making inroads along the west coast of the Sunshine State, particularly in the Tampa and Naples areas. Both are strategic areas that make sense to target, Restante says. CBNA Insurance Company, which started in Tupper Lake and has multiple offices across northern New York, has grown a great deal over the past five years through a series of strategic acquisitions, Restante says. He sees a lot of acquisition opportunities as many independent agencies have owners looking to retire or to align with a larger agency that can provide a broader selection of products as well as tech support and regulatory oversight, he says. However, not every opportunity is a good fit, so CBNA is very selective in the process, often taking a year or more to conduct its due diligence. That said, Restante says the firm is currently in negotiations with about seven different agencies it is considering acquiring. Community Bank System also operates Benefit Plan Administrative Services, Inc. (BPAS), which has clients in 45 states and Puerto Rico, more than 250 employees, annual revenue of $40 million, and $6.2 billion in assets under administration. BPAS, in partnership with more than 190 financial “intermediaries,” provides retirementplan administration and provides actuarial services. Local offices include Harbridge Consulting Group, LLC in Syracuse and BPAS locations in Utica and Syracuse. Community Bank System’s headquarters office is located at 5790 Widewaters Parkway in DeWitt. Community Bank, N.A. has more than 180 branches across New York and Pennsylvania, and more than $7 billion in assets. q Contact The Business Journal at news@cnybj.com

& WEALTH MANAGEMENT Community Bank

Symbol: CBU Recent price: 36.99 52-week high: 37.06 52-week low: 25.50 52-week change: 33.31% Exch: NYSE 6-month history

36 34 32 30 28 26 0

M13

J13

J13

A13

S13

O13

SOURCE: YAHOO FINANCE

Community Bank Q3 profit jumps nearly 20 percent By Adam Rombel Journal Staff

DeWITT — Community Bank System, Inc. (NYSE: CBU) reported net income of $22 million in the third quarter, up almost 20 percent from $18.4 million in the year-ago period. The DeWitt–based banking company generated earnings per share (EPS) of 54 cents in the latest quarter, up 17 percent from 46 cents in the third quarter of 2012, which included 8 cents per share of acquisition expenses. This quarter’s EPS beat analysts’ expectations for 52 cents, according to Yahoo Finance/Thomson Financial data. Community Bank produced revenue of $88.2 million in the third quarter of 2013, up 4.2 percent from a year prior. Revenue growth was bolstered by higher non-interest income from a larger core deposit account base, along with continued organic growth in wealth management and benefits-administration services, the banking company said. Non-interest income rose nearly 7 percent to $27.6 million, and net interest income climbed more than 3 percent to $60.6 million, respectively, when compared to the year-ago quarter, Community Bank reported. “We continued to perform at a very high level during the third quarter of 2013, generating record earnings, solid organic loan growth, high single-digit, year-overyear growth in financial services revenue, and continued strong asset quality metrics,” Mark E. Tryniski, president and CEO of Community Bank, said in the earnings report. “During the third quarter, we also announced an agreement to acquire eight branch-banking locations from Bank of America, N.A., which will further expand and strengthen our market presence across our Northeast Pennsylvania service footprint.” Community Bank System has more than $7.3 billion in assets. q Contact Rombel at arombel@cnybj.com


2B • The Central New York Business Journal

BANKING & WEALTH MANAGEMENT

November 1, 2013

ABA survey: popularity of mobile banking continues to climb BY JOURNAL STAFF

T

he popularity of mobile banking continues to grow, according to a recent survey by the American Bankers Association (ABA). The survey of 1,000 U.S. adults revealed that while the Internet remains the most popular banking method, mobile banking has eclipsed the popularity of the telephone and U.S. mail and is now preferred by 8 percent of customers — a 33 percent increase from a year ago. The annual survey of 1,000 U.S. adults was conducted for the ABA by Ipsos Public Affairs, an independent market research firm, this summer. This is the fifth year in a row that customers have named the Internet as their favorite way of conducting their banking business, with 39 percent of respondents once again saying it is the method they use most often to manage their bank accounts, the ABA said. The second most popular way to bank — visiting a branch — remained at 18 percent. “Digital and mobile banking is increasingly popular with today’s consumers who want account management tools at their fingertips,” Nessa Feddis, ABA’s senior

Preferred Banking Method 2013 U.S. Adults 18+

39% Internet Banking

7% Mail Telephone 7% 11% ATM

18% Branches

SOURCE: AMERICAN BANKERS ASSOCIATION

vice president and deputy chief counsel for consumer protection and payments, said in a news release. “As consumer banking preferences evolve, banks remain committed to offering a variety of choices that meet the needs of all customers,” she said.

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8% Mobile

11% Unknown

When asked, “Which method do you use most often to manage your bank account(s)?” customers responded as follows in 2013 (compared to 2012):  Internet banking (laptop or PC): 39 percent (39 percent in 2012)  Branches: 18 percent (18 percent in

2012)  ATMs: 11 percent (12 percent in 2012)  Mobile (cell phone, smartphone, tablet etc.): 8 percent (6 percent in 2012)  Mail: 7 percent (8 percent in 2012)  Telephone: 7 percent (9 percent in 2012)  Don’t know: 11 percent (8 percent in 2012) “It’s not surprising that branches remain the second most popular option,” said Feddis. “Many people prefer sitting down with someone to discuss complex transactions like opening an account or applying for a home or business loan.” Online banking first became the mostpreferred banking method in 2009 with 25 percent of customers naming it as their favorite. Previously, visiting a branch was the most popular method, followed by ATMs. The American Bankers Association says it represents banks of all sizes and charters and is the voice for the nation’s $14 trillion banking industry and its 2 million employees. The majority of ABA’s members are banks with less than $185 million in assets, the association says. 

www.cnybj.com The Business Journal 500 is available for purchase! Contact Nicole Collins at 315.579.3911 or email ncollins@cnybj.com for more information


BANKING & WEALTH MANAGEMENT

November 1, 2013

The Central New York Business Journal • 3B

Chemung Canal Trust names Krebs new CFO BY ADAM ROMBEL JOURNAL STAFF

ELMIRA — Chemung Canal Trust Co. announced Oct. 17 that Karl F. Krebs has joined the bank’s management team as chief financial officer and treasurer. He was also appointed CFO and treasurer of parent company Chemung Financial Corp. (NASDAQ: CHMG). Krebs, who has more than 30 years of Krebs banking experience, began his career in 1982 and most recently served as CFO of Financial Institutions Inc. and subsidiary

Five Star Bank, in Warsaw, N.Y. Krebs replaces John R. Battersby, Jr., who had come out of retirement in midSeptember to serve as Chemung’s interim CFO and treasurer, after Mark A. Severson left to take the CFO job at Cordia Bancorp Inc. (NASDAQ: BVA), parent of Bank of Virginia. Krebs earned a bachelor’s degree in accounting from Canisius College and an MBA, with a concentration in finance and accounting, from SUNY Buffalo. Krebs’ annual base salary will be $200,000, the bank said in a U.S. Securities & Exchange Commission regulatory filing. During his banking career, he has held management positions at Goldome Bank, Key Corp, National City, and HSBC, before joining Financial Institutions and Five Star Bank.

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Elmira–based Chemung Canal Trust County, while entering new markets in currently operates 23 full-service banking Cayuga, Cortland, and Seneca counties. Started in 1833, Chemung Canal Trust is offices in Broome, Chemung, Schuyler, Steuben, Tioga, and Tompkins counties the oldest locally owned and managed comin New York and Bradford County in munity bank in New York state. Chemung Pennsylvania. It also operates five full-ser- Financial is also the parent of CFS Group, vice banking offices under the name Capital Inc., a financial-services subsidiary offering mutual funds, annuities, brokerage serBank in Albany and Saratoga counties. On Nov. 22, Chemung Canal Trust is vices, tax-preparation services, and insur expected to complete the acquisition of six ance. Bank of America branches in Central New York, expanding its presence in Tompkins Contact Rombel at arombel@cnybj.com Community Bank WMG_CNY Business Journal 3/8 vertical_4.875x9.875”


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4B • The Central New York Business Journal

BANKING & WEALTH MANAGEMENT

November 1, 2013

Solvay Bank announces new branch, unveils renovated downtown office BY TRACI DELORE CONTRIBUTING WRITER

SOLVAY — Solvay Bank recently unveiled renovations that turned its downtown Syracuse location into a “smart branch� and will soon break ground on new branch location in DeWitt. “A few years ago, we developed a concept called a smart branch,� says Paul Mello, president and CEO of Solvay Bank. A smart branch is one that uses technology to help make the branch more efficient. The bank just completed work to convert its Syracuse branch in the State Tower Building at 109 Warren St. into such a location. The biggest change that comes with the smart concept is training and enabling employees to perform a variety of job functions, Mello says. Typically, bank branches have very segmented jobs, he says. Tellers handle deposits and withdrawals. Loan officers handle loan applications. While that setup may have worked well in the past, he says, today’s customers want to be able to handle their business efficiently. Solvay Bank has solved that problem by training employees to handle a variety of functions,

he explains. An employee can handle a deposit for one customer and then turn around and help a new customer open an account, for example. “We’re trying to create an environment where it’s easy to do business with us,� Mello says. The smart branch blends personal service with technology, providing the best of both worlds to the bank’s clients. In addition, Solvay Bank added a coffee bar, community conference room, an electronics charging station, and offers Wi-Fi while still providing all the typical commercial and retail banking products that customers expect, Mello says. With new housing and new businesses opening almost daily, downtown Syracuse is hopping, he says, and it was the right time for Solvay Bank’s branch to invest in it. Along with converting to the smart branch concept, the bank also added 1,000 square feet to its space there, bringing the total square footage for that branch to nearly 3,400 square feet. Before the dust even settles on the smart branch renovations, Solvay Bank hopes to break ground on its next project,

PHOTO COURTESY OF SOLVAY BANK

Solvay Bank recently underwent renovations that turned its downtown Syracuse location into a “smart branch�. The bank will soon break ground on a new branch location in DeWitt. a new branch on East Genesee Street in DeWitt across from Wegmans. “We’re going to make that a smart office as well,� Mello notes. The DeWitt area is a good location for the bank, he says. “We do have pretty good demand from customers out there who do business with us.� The new branch, which will open in late spring or early summer of 2014, will better serve existing clients in that area and, Mello adds, hopefully attract new customers to Solvay Bank. The banking landscape has changed a lot in recent years, he notes, with many

acquisitions taking place. That creates opportunity for Solvay Bank to reach out to customers who are looking for the blend of technology and services coupled with the personal attention that Solvay Bank offers, Mello says. Technology is important, he says, and that’s why Solvay Bank offers products such as mobile banking, but at the same time, customers want the ability to talk to someone when they need to. Mello says the bank is working with a deSee SOLVAY BANK, page 8B

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November 1, 2013

BANKING & WEALTH MANAGEMENT

The Central New York Business Journal • 5B

Elmira Savings Bank’s expansion into Broome County was “next logical step,” Carr says BY ADAM ROMBEL JOURNAL STAFF

VESTAL — Elmira Savings Bank (NASDAQ: ESBK) recently established a physical presence in Broome County by opening an office in Vestal that focuses on making residential mortgage loans. The limited-service, loan-production office, located at 3439 Vestal Parkway E. in Vestal, opened on Sept. 3. “We just looked at that Binghamton market as the next logical step for us to do residential lending,” Thomas M. Carr, president and chief operating officer of Elmira

“We just looked at that Binghamton market as the next logical step for us to do residential lending,”  THOMAS M. CARR

president & CEO, Elmira Savings Bank

Savings Bank, says. He notes that Broome County was the natural next move after the bank opened a loan office in Cortland two years ago and a full-service branch in Erwin (west of Corning) early this year. Elmira Savings Bank, originally founded in 1869, never had a branch in Broome County before, Carr says, though it has occasionally made loans to Broome County residents through its other offices. The new, 1,600-square-foot Vestal office employs three full-time mortgage-loan professionals, Carr says. The office is open 8:30 a.m. to 5:00 p.m. Monday through Friday, or by appointment. The bank leases the space from Kradjian Properties, a Binghamton–based real-estate development and management business, Carr says. Kradjian’s real-estate portfolio includes several properties along Vestal Parkway. Elmira Savings Bank’s research indicates that Broome County is about a $250 million residential mortgage-loan market, and the bank hopes to capture 6 percent to 10 percent of that, Carr says. The new Vestal office is not targeting Tioga County customers but Carr believes

PHOTO COURTESY OF ELMIRA SAVINGS BANK

Elmira Savings Bank’s newest location. The limited-service, loan-production office, located at 3439 Vestal Parkway E. in Vestal, opened on Sept. 3.

that the location, not far from the Tioga County line, does open the door for business from that county as well. Elmira Savings Bank originated $150 million in mortgage loans last year and is on that same pace this year, Carr says. About 70 percent of its mortgage business is new loans, while 30 percent involves refinancing existing mortgage loans. “Our mortgage business is very strong,” he contends. Carr says it’s too early to say if Elmira Savings Bank will open a full-service branch in Broome County, but says that if the loan office is a success, that increases the likeli-

hood. Elmira Savings Bank, with $520 million in total assets, is a state-chartered bank with six branches in Chemung County, three branches and a loan center in Tompkins County, two offices in Steuben County, one branch in Cayuga County, one office in Schuyler County, and loan centers in Cortland and Broome counties. The banking company’s main headquarters office is located at 333 E. Water St. in Elmira.  Contact Rombel at arombel@cnybj.com


6B • The Central New York Business Journal

BANKING & WEALTH MANAGEMENT

November 1, 2013

Gov. Cuomo launches New York Green Bank Initiative BY JOURNAL STAFF

G

ov. Andrew M. Cuomo launched the first step of his $1 billion New York Green Bank initiative on Sept. 10 through a petition to use approximately $165 million in uncommitted funds for the Green Bank’s initial capitalization. The petition was filed by the New York State Energy Research and Development Authority (NYSERDA) to the Public Service Commission (PSC). This initial funding, once approved by the PSC, will permit the Green Bank to leverage private sector financing for clean-energy projects that create jobs and help make New York’s communities more sustainable. With this action, the Green Bank is anticipated to open for business and offer its initial financial products in early 2014. Gov. Cuomo introduced the Green Bank initiative in his 2013 State of the State address as the financial engine that will mobilize private investment to build a more costeffective, resilient, and clean energy system in New York. “Through the New York Green Bank, we will leverage public dollars to attract private sector investment into building a new clean energy economy that will help make our state greener and create jobs,” Gov. Cuomo said. “New York State has a track record of being at the forefront of environmental and energy policy innovations. As a publicprivate partnership, the Green Bank will implement a pioneering approach that stra-

“Through the New York Green Bank, we will leverage public dollars to attract private sector investment into building a new clean energy economy that will help make our state greener and create jobs”  ANDREW CUOMO, New York State Governor

tegically and efficiently uses limited state resources to drive investment into critical areas of the economy. With this initiative, we will promote job growth and business development, improve resiliency and air quality, and lower costs for consumers while providing them with greater choices and value for their money.” The Green Bank uses a bold, new market-oriented approach to overcome market barriers that are currently preventing the widespread flow of private capital into the clean-energy economy. NYSERDA anticipates that further capitalization of the Green Bank will be considered by the PSC in a subsequent proceeding. Both this petition and the subsequent PSC proceeding will include public comment periods. When fully capitalized, the Green Bank is expected to have a $1 billion balance sheet.

The Green Bank will partner with private-sector lenders by providing financial products such as credit enhancement, loanloss reserves, and loan bundling to support securitization and build secondary markets. These products will support economically viable, clean-energy projects that cannot currently access financing due to market barriers, such as federal policy uncertainty, insufficient performance data, and the lack of publicly traded capital markets for clean energy. These barriers limit private-sector capital flows into otherwise attractive renewable energy and energy-efficiency projects, creating gaps in the clean-energy finance market. By alleviating these barriers, the Green Bank will enable the flow of private capital to fill these market gaps. The capitalization of the Green Bank is coming at no extra cost to New York

Overcome challenges. Reach your goals. Achieve success.

ratepayers. With the petition filed today by NYSERDA, the State is seeking to capitalize the bank by repurposing a portion of existing energy funds which have not delivered the impact needed to grow a more affordable and cleaner energy economy. Once capitalized, the Green Bank will be able to preserve, recycle, and eventually grow its capital base, which will enable it to become a self-sustaining support mechanism for clean energy. “By incorporating a financing model into the State’s clean-energy support toolkit, the State will derive greater private sector leverage from scarce public funding than the current incentive model alone,” said Richard Kauffman, chairman of Energy and Finance for New York State. “The Green Bank is the next step in our strategy to unleash markets to provide economic growth and to help transform New York’s energy system into one that is cleaner, more efficient, and offers more value to customers.” Preliminary models suggest that over a five-year period, the Green Bank can at least double the amount of private capital available to grow clean-energy markets; and over a 20-year period, it has the potential to deliver nearly 10 times more private capital into the current system. The Green Bank’s ultimate goal, which is to enable a stand-alone, dependable, private-sector financing market that no longer needs govSee CUOMO, page 8B

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banking & wealth management

Cybersecurity Awareness Month: Partner with your bank to prevent account takeover By Journal Staff

C

  yber attacks against small   businesses are growing increas  ingly sophisticated. Criminals use spoofed emails, malicious software, and online social networks to obtain login credentials to businesses’ accounts, transfer funds from the accounts, and steal private information, a fraud referred to as “corporate-account takeover.” To combat this type of fraud, the American Bankers Association is providing advice to small-business owners. “Our nation’s small businesses remain in the crosshairs of cybercriminals,” said Frank Keating, ABA president and CEO. “A strong partnership with your financial institution is the best way to prevent and protect your business against these attacks.” As part of National Cybersecurity Awareness Month, ABA offers small businesses these tips to help prevent account takeover:

Protect your online environment.

It is important to protect your cyber environment just as you would your physical location. Do not use unprotected Internet connections. Encrypt sensitive data and keep updated anti-virus and anti-spyware protection on your computers. Change passwords from the default to something complex, including at point-of-sale terminals.

Partner with your bank for payment authentication.

Talk to your banker about services that

offer call backs, device authentication, multi-person approval processes, batch limits, and other tools that help protect you from unauthorized transactions.

The Central New York Business Journal • 7B

Pay attention to suspicious activity and react quickly.

Put your employees on alert. Look out for strange network activity, do not open suspicious emails, and never share account information. If you suspect a problem, disconnect the compromised computer from your network and contact your banker. Keep records of what happened. See cybersecurity, page 9B

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8B • The Central New York Business Journal

BANKING & WEALTH MANAGEMENT

November 1, 2013

CUOMO: Green Bank is anticipated to open for business and offer its initial financial products in early 2014 Continued from page 6B

ernment support, will provide the greatest value for ratepayers. Jackson Morris, director of strategic engagement at Pace Energy and Climate Center, said, “Transitioning to a 21st century clean energy economy demands a 21st century approach — one that includes bold, innovative actions such as today’s launch of the New York Green Bank by Gov. Cuomo. We applaud the administration for tackling the challenges that persist for clean-energy investments with this new tool, as it will

play a key role in ensuring New York continues to be a national leader in the rapid deployment of energy efficiency, renewable energy, and clean distributed generation.� Michael Eckhart, global head of environmental finance at Citigroup, said, “The private sector welcomes the governor’s Green Bank initiative. The task of scaling up clean energy and energy efficiency in New York and across the nation will require access to significant amounts of capital. Gov. Cuomo and Richard Kauffman are uniquely qualified to facilitate partnership between the private and public sectors,

which is critical to achieving success. We look forward to working with the Green Bank to bring clean energy and green jobs to New Yorkers.� Douglass Sims, senior policy analyst at the Natural Resource Defense Council’s Center for Market Innovation, said, “NRDC is pleased to see the New York Green Bank taking shape. We expect the bank, which is being designed to leverage public and private capital, also to create synergies with the State’s most effective existing cleanenergy programs. This comprehensive and innovative approach promises to yield more

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clean energy per New York dollar invested and set a national and international precedent for smart climate investment.â&#x20AC;? Peter Olmsted, East Coast policy advocate for the Vote Solar Initiative, said, â&#x20AC;&#x153;It is exciting to see the governorâ&#x20AC;&#x2122;s Green Bank added to New Yorkâ&#x20AC;&#x2122;s suite of tools for building a strong clean-energy economy. We see robust demand among New Yorkers for more solar power, and the stateâ&#x20AC;&#x2122;s growing solar industry is ready to deliver. Access to financing is one of the few limiting factors standing between New Yorkers and the clean energy they want. The New York Green Bank addresses that need by harnessing more private capital for cleanenergy investment.â&#x20AC;? Fred Zalcman, director of government affairs for SunEdison, a leading solar developer, said, â&#x20AC;&#x153;Innovative public-private sector financing is the next frontier in unlocking the economic and environmental benefits of clean on-site generation. We applaud Gov. Cuomo for having the vision to create the New York Green Bank and look forward to working with NYSERDA and the PSC to maximize the reach and effectiveness of this important new financing vehicle.â&#x20AC;? For more information on the Green Bank initiative, please visit: http://documents. dps.ny.gov/public/Common/ViewDoc. aspx?DocRefId={C3FE36DC-5044-40218818-6538AAB549B8} ď ą

SOLVAY BANK:

Earlier this year, Solvay Bank expanded its main office at 1537 Milton Ave. in Solvay Continued from page 4B

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veloper, whom he declined to name, on the new branch project. While he didnâ&#x20AC;&#x2122;t have a total cost for the project to share, Mello says he does expect the bank will expand its current staff of 150 employees by about six people once that branch opens. Earlier this year, Solvay Bank expanded is main office at 1537 Milton Ave. in Solvay, adding about 13,000 square feet and creating enough space to centralize all of the bankâ&#x20AC;&#x2122;s support functions for improved efficiency. The bank worked with ParsonsMcKenna Construction Co. on the project, which broke ground last June, with work wrapping up this past January. The company also launched a new branding campaign over the summer with the tagline, â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;re local and we mean it.â&#x20AC;? Founded in 1917, Solvay Bank (www. solvaybank.com) has eight branches located in Solvay, Fairmount, Camillus, Liverpool, North Syracuse, Cicero, downtown Syracuse, and Westvale. As of July 15, when the company announced its firstquarter results, the bank had total assets of $647.5 million. The company also operates Solvay Bank Insurance Agency, Inc. ď ą Contact The Business Journal at news@cnybj.com


The Central New York Business Journal • 9B

November 1, 2013

THE LIST

HEALTH-INSURANCE PROVIDERS SERVING CNY Ranked by No. of CNY Members

Research by Nicole Collins ncollins@cnybj.com (315) 579-3911 Twitter: @cnybjresearch Name Address Rank Phone/Website

NOTES:

3. Aetna no longer has a CNY office but have a number of agents in the region.

ABOUT THE LIST Information was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. We reserve the right to edit entries or delete categories for space considerations.

WHAT CONSTITUTES THE CNY REGION? Central New York includes Broome, Cayuga, Chemung, Chenango, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, Seneca, St. Lawrence, Tioga, and Tompkins counties.

NEED A COPY OF A LIST? Electronic versions of all our lists, with additional fields of information and survey contacts, are available for purchase at our website, cnybj.com/ListsResearch.aspx

WANT TO BE ON THE LIST? If your company would like to be considered for next year’s list, or another list, please email: ncollins@cnybj.com

CNY Counties Covered

The account agreement with your financial institution will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions about

Year Estab.

700,000 — 1,900,000

5,700 — 12,600

Cayuga, Cortland, Lewis, Jefferson, Onondaga, Oswego, Tompkins, St. Lawrence

NP

950 3,359

2.

Excellus BlueCross BlueShield, Utica Region 12 Rhoads Drive Utica, NY 13502 (315) 798-4200/excellusbcbs.com

300,000 — 1,900,000

5,700 — 12,600

Herkimer, Oneida, Madison

NP

360 3,359

3.

UnitedHealthcare 5015 Campuswood Drive, Suite 107 East Syracuse, NY 13057 (315) 433-5880/unitedhealthcare.com

233,403 — 3,900,000

58,8001 — 58,800

all CNY counties

FP

4,0002 120,000

Michael McGuire, CEO, UnitedHealthcare Employer & Individual of New York & New Jersey

1977

4.

Excellus BlueCross BlueShield, Southern Tier 150 N. Main St. Elmira, NY 14901 (607) 734-1551/excellusbcbs.com

230,000 — 1,900,000

5,700 — 12,600

Broome, Chemung, Chenango, Tioga

NP

30 3,359

Kevin J. McGurgan, Regional President Dorothy Coleman, CFO

1936

5.

EmblemHealth 5015 Campuswood Drive, Suite 2 East Syracuse, NY 13057 (315) 432-0198 /emblemhealth.com

77,004 — 1,527,958

3,040 — 40,151

all CNY counties

NP

202 4,472

Frank J. Branchini, Chairman & CEO

1937

6.

Aetna Inc.3 15 Columbia Circle Albany, NY 12203 (315) 656-7183/aetna.com

71,423 — 883,535

7,968 — 82,940

all CNY counties

FP

16 34,772

Dan DeLucia, VP Network Daniel McCaffrey, VP Sales & Marketing

1853

7.

Total Care Inc. 819 S. Salina St. Syracuse, NY 13202 (315) 634-5555/totalcareny.com

36,000 — 36,000

2,400 — 2,400

Cortland, Onondaga, Oswego, Tompkins

NP

65 65

Ruben P. Cowart, President & CEO John DiPaola, CFO Michael Sullivan, Chief Corporate Operating Officer

1986

8.

MVP Health Care 120 Madison St., Suite 1000 Syracuse, NY 13202-2803 (800) 825-5687/mvphealthcare.com

30,822 — 440,052

4,998 — 17,687

all CNY counties

NP

48 1,542

Denise V. Gonick, President & CEO Allen Hinkle, M.D., EVP & Chief Medical Officer David Crosby, EVP, Commercial Business

1983

9.

Capital District Physicians' Health Plan, Inc. (CDPHP) 500 Patroon Creek Blvd. Albany, NY 12206 (518) 641-3000/cdphp.com

8,679 — 441,554

1,102 — 7,280

Broome, Chenango, Herkimer, Madison, Oneida, and Tioga

NP

0 961

Dr. John Bennett, President & CEO

1984

Arthur Vercillo, M.D., Regional President, CNY

Eve Van de Wal, Regional President 1936 Frank Dubeck, Chief Medical Officer Stephanie Davis, Regional VP, Corporate Communications

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Protect the ones you love 73 RNAL INESS JOU THE BUS 2 Lists 201 Book of RNAL INESS JOU THE BUS

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NY 13778 Remington y 5 Y Greene, 1/ 656-900 Compan 97,000 shooting — (607) 656-231 orp.com & 1,100 1911 hunting , NC www.raymondc Operations , sports Madison Kerin Flannery Executive turer Massena 8 Alcoa- E. gun manufac tion Senior Location Park Ave. NY 13662 Endicott IBM Corpora 0 Y — Massena, 1,050 1/ 764-446 gy (315) 764-401 1,050 Armonk 1970 technolo oa.com e, ti, www.alc J. Corasan Arms Co. turer of hardwar ton s Joseph CEO & manufac t 9 Reming Ave. and gy product Presiden technolo same 14 Hoefler13357 service provider 2 , & other Y — software Ilion, NY 0/ 895-345 426,751 gy Utica (315) 895-320 .com technolo 1880 1,000 mington medical GM, t, & www.re emphasis Presiden tion y with an ly invasive, Verrier, VP, Morse TEC 6 IBM Corpora St. logy compan Inc. 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Mark Viggiano & CFO Greek yogurt NR Huhtam St. Manager Harris, SVP AB Larry General 100 State 13069 & Saab i, VP Y — Kaminsk Fulton, NY 584 1 e Ken defense, aki.com 551 (315) 593-531 East Syracus 1952 aerospace, r www.us.huhtam ing, security Manage process Inc. tion General Farma 320 , informa g services NR Agro Keith Dabbs, Highway of sensors Casting 147 State, NY 13815 and modelin provider 7 Precision tion simulation, Norwich 521 6/ 847-884 Y Corpora m 459 (607) 337-124 energy (PCC) 1943 aerospace, www.chobani.co — e Director global superalloy Corp. , OR ski, Executiv ns Portland rotor grade Operatio 19 Saab Sensisr Crossing Nancy Rurkow premium Syracuse ce yers GM & 85 Collame e, NY 13057 1 aerospa Bristol-M Y East Syracus 0/ 445-940 Squibb 20,400 — 450 (315) 445-055 worldwide NY S www.sensis.comCorp. turer of COLLIN New York, E manufac NICOL cial Road Metals 11/11 RCH BY Settlement NR Special ment & commer es RESEA 4317 Middle , NY 13413 1 @cnybj.com drug develop biologic medicin ncollins New Hartford 0/ 798-200 26,333 421 (315) 798-290 m www.precast.co Co. 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Advertise in the 2014 Book of Lists and get a full year of premium exposure!

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to nging place lex and challe York presents. New can be a comp s at the opportunity York state wealth of prosecutor d that New tremendous and authorities; top understan c sector t from the Island, we age our publi tance agencies t and Long take to benefi regulatory eys. We lever Wall Stree clients can nmental assis or ra Falls to tives at state and municipal attorn steps our stand the and execu From Niaga seeking gover als; Capriotti issioners We also under ointed offici gies for those contact David M. m. strate ience as comm government-app ch.co do business. tive n, exper d and provide effec help your organizatio site at www.harrisbea eys have Our attorn levels; electe nment, and h can our web and local s with gover Harris Beac 00, or visit federal, state, ve our clients’ issue To see how 315.423.71 resol next level. NY 13202, ns to the insights to t, Syracuse organizatio ington Stree to take their at 333 West Wash ard Lee E. Wood

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Contact Mary LaMacchia at (315) 579-3907 or email mlamacchia@cnybj.com

1936

Know you can get help when you need it most

have any questions about your responsibilities

Understand your responsibilities and liabilities.

Top Local Executives

Excellus BlueCross BlueShield, Central New York Region 333 Butternut Drive Syracuse, NY 13214 (315) 671-6400/excellusbcbs.com

CYBERSECURITY: Talk to your banker if you Continued from page 7B

No. of CNY Employees Total For Profit/ Employees Nonprofit Companywide

1.

1. Provider does not have a breakdown of CNY physicians. The figure is for all of New York State. 2. Provider does not have a breakdown of CNY employees. The figure is for all of New York State.

No. of CNY Members — Members (statewide)

No. of CNY Physicians — Physicians (statewide)

18.

19.

20.

City rt New York Ithaca Lockpo Albany Buffalo

Niagara Falls

Saratoga Springs Rochester

White Plains Uniondale Syracuse

Haven, , NJ New Yonkers Newark

CT


10B • The Central New York Business Journal

November 1, 2013

HAYNER HOYT: Firm attributes its success to long-term relationships with area professionals Continued from page 1

renovation, and development. In addition to the construction company headquartered at 625 Erie Blvd. W., the enterprise includes Doyner Co., a masonry sub-contractor, and LeMoyne Interiors, Inc., a metal framing, dry-wall, and acoustical-ceiling contractor. The principals and stockholders of the three, sub-S, operating companies are the Thurstons, father and son, who also own two real-estate companies: Thurston Properties and 6715 Joy Road Associates, LP. The two real-estate firms own the 35,000 square feet of building space which houses the operating companies. Health-care construction is a major source of the company’s rapid growth, including an eightlevel addition currently under way at St. Joseph’s Hospital Health Center in Syracuse. “The LEED project … [comprises] 260,000 square feet, which includes 72 hospital beds, 36 ICU beds,17 operating rooms in a 73,000-square-foot surgical suite, an expanded postanesthesia unit, and 12,000 square feet dedicated to a central sterile unit,” says Jeremy Thurston. “The $100 million addition is the largest job we’ve ever … [undertaken]. Ninety percent of the work is new construction and the … [remainder] is renovation.” “In addition to our work in the health-care field, Hayner Hoyt has enjoyed steady growth in construction for the higher-education community,” says the company’s president. “These two areas complement our other clients in financial services, hospitality, industrial and commercial, retail, historic renovations, churches, housing, and office space.” Both Thurstons attribute the company’s success to its adherence to the original philosophy of Richard Hoyt and Don Hayner. “We have a full book of business, because we’re customer-oriented,” notes the company chairman. “Nearly 100 percent of our business comes from either our existing customers or from referrals by these customers. We don’t pursue hard-bid work, preferring to rely on the continuity of our relationships … The company has never been revenue driven; we’re opportunity driven. That’s why we weathered the recession with only a modest dip in revenues. On the whole, we have grown our revenues, profit, and the number of employees since the recession began in 2007.” “There is one change,” says Jeremy Thurston. “Historically, we have sought most of our

photo courtesy of hayner hoyt website

Oswego Hospital, one of the projects that Hayner Hoyt has worked on recently. Health-care construction is a major source of the company’s rapid growth, including an eight-level addition currently under way at St. Joseph’s Hospital Health Center in Syracuse. work within a 60-mile radius of Syracuse. The only time we have done work out of the area is when we follow a customer to a new site. Considering our current size, the company needs to reach out farther [geographically] to find enough opportunities to continue our growth. We are also moving ahead to find a sales-and-marketing manager to identify construction opportunities, especially in the private sector.” Hayner Hoyt’s chairman, who is celebrating 40-plus years in the construction industry, has witnessed a number of technological changes that have impacted his business. “When I started out, my first firm was actually computerized, [albeit] with a punch-card system. We had basic software that performed functions such as estimating and payroll. Today, everyone has a computer, and we [even] have laptops/tablets in the field. Everyone has an iPhone and an email account. Project engineers can take pictures with their smart phones while on a project and share a visual of a problem. We also use BiM (building-information-modeling in 3-D) to identify potential problems before we get to the construction phase, and we store all of this information electronically. Communication with the staff and with the customers is

obviously much easier, especially with web conferencing,” says Gary Thurston. “But there is a downside to all of this technology,” says Jeremy Thurston, the company president. “Relying too much on technology detracts from personal relationships. Conflict resolution via email is not very effective. It’s also too easy to pull design detail from a previous project rather than think through a [particular] problem. We spend $150,000 a year on technology, and I know it’s necessary to run the business. Still, I think we need to spend more time thinking and less time rushing to communicate.” Hayner Hoyt’s rapid growth has put pressure on the company to find talented employees. “It’s hard to find experienced people,” says Gary Thurston. “Fortunately, we don’t get a lot of turnover, and some of our staff has more than 40 years [of longevity] with the company. Our recruiting is mostly local, hiring from area colleges and universities. We have to grow our own talent. Hayner Hoyt pays competitive salaries … [supplemented] by bonuses. We pay 100 percent of the employees’ health care and have a 401(k) with over $8 million in assets. The plan vests every new hire from day-one. I think we have created a family environment.” Thurston’s com-

The Central New York Business Journal

ments are supported by Hayner Hoyt’s recognition — six years in a row — as one of the “Best Places to Work” in New York State. When talking about employee talent, both Thurstons also point to the management team that guides the company. In addition to the two principals, Maureen Barry is the company CFO, Michael George is vice president of operations, Marty Rainbow and Gus Hernandez are project executives, Terry Anderson is the human-resources director, and Steve Benedict is the director of field operations. Gary Thurston, 67, is a native of the Mohawk Valley. He graduated from Utica College in 1968 with a degree in construction management. Thurston joined Hayner Hoyt in 1978, starting as a field superintendent on a project in Buffalo, and moving up to project manager and head of operations. He was appointed president in 1985 and moved into the position of board chair in 2008. Thurston is the father of five sons; he and his wife, Mary, reside in on Onondaga Hill during the winter months and Sylvan Beach in the summer. Jeremy Thurston, 36, grew up in Marcellus and also attended Utica College, graduating in 2000 with a degree in construction management. He joined Hayner

Hoyt in 1998 while still enrolled in college. Jeremy Thurston’s path began as a project engineer, rose to project manager, and then head of operations, before becoming president in 2008. He resides in Camillus with his wife Carrie and their two children. “I always knew that I wanted to own my own business,” says Jeremy Thurston, “but at first my father wouldn’t give me a job. He wanted me to earn my stripes.” The elder Thurston concurs with that assessment. “Jeremy worked his ass off,” says Gary Thurston, not putting too fine a point on the description of the process. “Once he proved himself not just to me but to the employees, he became president.” Jeremy Thurston became a stockholder in 2010. Hayner Hoyt also attributes its success to long-term relationships with area professionals. “We have been with KeyBank for decades, even back in the days when it was First Deposit [& Trust]. We also rely on M&T for our insurance. The folks at Firley Moran [Freer & Eassa] have … [overseen] our accounting for as long as I remember, and Jack Stinziano (now retired) has handled our legal work. Hayner Hoyt’s rise to the top ranks of American contractors has not been without setbacks. In 2007, the company began rehabilitating the Hotel Syracuse Tower to convert it into a 75-unit apartment complex. The owner/ developer, GML Tower, LLC, and a subsequent owner, Ameris, went bankrupt in 2008. Hayner Hoyt stopped work on the project and filed a mechanics lien for $3.2 million. Altshuler Shaham Provident Funds, which held a $10 million mortgage on the property, challenged the lien contending that its mortgage outranked the lien. Two New York State courts sided with the Thurstons, who in June 2012, purchased the building, now renamed Symphony Tower. A year later, the New York Court of Appeals overturned the lower courts’ rulings. “We own the Tower,” says Gary Thurston, who has paid all of the sub-contractors in full for their work. “After five years of legal haggling, it’s sad to see the project stalled like this, a project which could help to revitalize downtown Syracuse.” Hayner Hoyt has entered the ranks of America’s top contractors in less than half a century. The only question now is how far up the rankings will they move. q Contact Poltenson at npoltenson@cnybj.com

Call (800) 836-3539 today to subscribe


The Central New York Business Journal • 11B

November 1, 2013

CONGRATULATIONS TO THIS YEAR’S HONOREES! 2-75 EMPLOYEES • Empire Interpreting Service • MVP Health Care • TERACAI 76-249 EMPLOYEES • Anoplate • CXtec • Dermody, Burke & Brown, CPAs, LLC • Hancock Estabrook 250-349 EMPLOYEES • Crucible Industries • Hematology/Oncology Associates of CNY • Preferred Mutual Insurance Company 350+ EMPLOYEES • POMCO Group • Upstate Medical University SPECIAL RECOGNITION AWARD: • Price Chopper/Golub Corporation

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November 1, 2013

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Tick Tock! Itâ&#x20AC;&#x2122;s Time for the Book of Lists â&#x20AC;&#x201D; Reserve Your Space TODAY! Reserve your place in the 2014 Book of Lists, one of the most read and used business reference tools in Central New York, the other directory produced by The Business Journal News Network. Contact us or visit us online and secure your position today. The 2014 Book of Lists publishes in February. Will you be in it? The book is getting full so donâ&#x20AC;&#x2122;t wait! There are still many strategic locations available. Position your company in the right place and get noticed all year. Mary LaMacchia: 315.579.3907 â&#x20AC;˘ mlamacchia@cnybj.com Bernie Bregman: 315.579-3903 â&#x20AC;˘ bbregman@cnybj.com Dan Buddie: 315.579.3905 â&#x20AC;˘ dbuddie@cnybj.com

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