Division of ITW leases converted former NAPA store in Seneca Falls

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SENECA FALLS — Hobart Service, a division of ITW, has leased a former NAPA Auto Parts store in Seneca Falls. The 5,000-square-foot former retail and warehouse space, located at 2163 Route 5 & 20, was converted into office/warehouse space for Hobart Service. Gary Cottet of Cushman & Wakefield/Pyramid Brokerage Company represented the tenant in this […]

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CNY Tweets – November 25, 2019

Business Mentors, Subscriber Only

Some recent tweets that came across the @cnybj Twitter feed, offering various small business, HR, and career tips. SBA Atlantic (Region II) @SBAatlanticDid you know about 200,000 #smallbusiness owners have already been matched with an @SBAgov-approved lender through Lender Match? Get matched today —http://ow.ly/HXBj50wUjlJ NFIB @NFIB“Firms are likely to continue to offer improved compensation to

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Some recent tweets that came across the @cnybj Twitter feed, offering various small business, HR, and career tips.

SBA Atlantic (Region II) @SBAatlantic
Did you know about 200,000 #smallbusiness owners have already been matched with an @SBAgov-approved lender through Lender Match? Get matched today —http://ow.ly/HXBj50wUjlJ

NFIB @NFIB
“Firms are likely to continue to offer improved compensation to attract and retain qualified workers,” explained NFIB Chief Economist Bill Dunkelberg on #SmallBiz owners’ strategy to deal with the employee shortage. Read more from @TDAJJKinihan of @forbes: https://www.forbes.com/sites/jjkinahan/2019/11/13/selling-pressure-relatively-muted-as-investors-eye-trade-situation/#1dc79f9250fd

GSA @USGSA
GSA’s Office of Small Business Utilization connects small businesses with people and resources to help them grow. Find and pursue government contracts now: http://gsa.gov/small-business

IRS Small Biz @IRSsmallbiz
Do you employ your parent in your #smallbiz? Their wages are subject to income tax withholding and social security and Medicare taxes, but not unemployment tax. Learn more from #IRS https://go.usa.gov/xVvek

Ben Carson @SecretaryCarson
Congratulations to the SBA for issuing a direct final rule that will allow governors to petition the @SBAgov’s Administrator to designate HUBZone status to new areas including #OpportunityZones! More at — http://ow.ly/L54K50xdVg2

Allen Ruddock @AllenRuddock
80+% of business owners say LinkedIn won’t work for them they’re wrong http://dld.bz/dSnKr #smallbiz #marketing

Angel Biz Advisors @AngelBiz
8 Sources of Finance to Kickstart Your Small Business – http://ow.ly/kE9p30pU9lm #finance #startup #entrepreneur

Lolly Daskal @LollyDaskal
10 Vital Traits to Look for In People You Hire: http://bit.ly/2HMK6HF #LeadFromWithin #Leadership #Management #HR #Success #Manager

Mark C. Crowley @MarkCCrowley
I once had a boss who said that on the occasions he ran into employees whose name he couldn’t remember, he’d just say, “Hey guy!” (A new study shows 1-in-2 of us have felt embarrassed because we didn’t know our co-worker’s name).

Neil Milliken @NeilMilliken
The average cost of making accommodations for disabilities is less than a couple of days wages – Not making them will lose you more time #HR

MACNY @MACNY_MfgAssoc
Are you prepared to rise above stressful situations? https://www.macny.org/good-leaders-rise-above-stressful-situations/

Robert Half @roberthalf
No need for a Magic 8-Ball. We’ve got the 12 best jobs of the future right here —http://rh.works/xqOf50xbbn1.

Hannah Morgan @careersherpa
Your next career move, either by your choice or someone else’s, takes preparation. Don’t wait until a crisis occurs to take some of these steps. https://buff.ly/2QpHgvM

Geneva firm wins grand prize in Grow-NY contest

Small Business, Subscriber Only

GENEVA — RealEats America of Geneva won the $1 million grand prize in the inaugural Grow-NY agribusiness competition. Dropcopter, a tenant of Syracuse’s Tech Garden, captured one of two $500,000 prizes at the pitch event held Nov. 13 in Rochester, the office of Gov. Andrew Cuomo announced. Three companies from Ithaca — Capro-X, Combplex, and

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GENEVA — RealEats America of Geneva won the $1 million grand prize in the inaugural Grow-NY agribusiness competition.

Dropcopter, a tenant of Syracuse’s Tech Garden, captured one of two $500,000 prizes at the pitch event held Nov. 13 in Rochester, the office of Gov. Andrew Cuomo announced.

Three companies from Ithaca — Capro-X, Combplex, and Whole Healthy Food — each won $250,000 prizes.

On its website, Dropcopter describes itself as “the leader in automated pollination of orchard crops via unmanned aircraft systems (UAS).” The firm says it helps “growers improve farming efficiency and drive healthy crop yield growth.”

RealEats was chosen as the grand-prize winner following a two-day summit in Rochester. The 17 selected finalists pitched their businesses to a live audience and panel of experienced judges for their share of the prize money.

On its website, RealEats says “…it’s our mission to make it easy for anybody to get and enjoy real food — meals cooked by chefs using whole, natural ingredients that aren’t processed and don’t have any added junk or other stuff you wouldn’t want to eat.”

Nearly 900 startups, companies, investors, resource providers, researchers, entrepreneurs, farmers, and students attended the two-day event. In addition to the pitch competition, the summit included an exhibition hall with more than 70 food and agricultural exhibitors from across New York.

It also included a symposium with a series of panels that “tackled some of the biggest opportunities and challenges” facing the food and agriculture industry today, per the release.

About the competition

The Grow-NY contest is focused on growing “a lasting food and agriculture innovation cluster” in Central New York, the Finger Lakes, and the Southern Tier regions. The competition, which will run for three rounds, offers a total of $3 million in funding to “innovative, high-growth” startups from around the world focused on the food and agriculture industry.

The Upstate Revitalization Initiatives connected with the three regions — CNY Rising, Finger Lakes Forward, and Southern Tier Soaring — are providing the funding for the Grow-NY competition.

Cornell University is administering the competition through its Center for Regional

Economic Advancement Grow-NY winners must commit to

operating in the Central New York, Finger Lakes, or Southern Tier regions for at least one year.

Premier Fire Apparatus leases industrial space in Salina

Construction, Design & Real Estate, Subscriber Only

SALINA — Premier Fire Apparatus, Inc. recently leased 5,500 square feet of industrial warehouse space located at 108 Anderson Avenue in the town of Salina. William Evertz of Cushman & Wakefield/Pyramid Brokerage Company exclusively handled the marketing of the property and facilitated the lease on behalf of the property owner, Cambridge Properties LLC, according to

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Carrols cites excess sales discounts in posting Q3 loss

Subscriber Only

SYRACUSE — Citing “excess sales discounts,” Carrols Restaurant Group, Inc. (NASDAQ: TAST) on Nov. 7 reported a net loss of $6.8 million, or 15 cents a share, in the third quarter. That compares to net income of $3.6 million, or 8 cents a share, in the prior-year quarter, Syracuse–based Carrols said. The company is the

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SYRACUSE — Citing “excess sales discounts,” Carrols Restaurant Group, Inc. (NASDAQ: TAST) on Nov. 7 reported a net loss of $6.8 million, or 15 cents a share, in the third quarter.

That compares to net income of $3.6 million, or 8 cents a share, in the prior-year quarter, Syracuse–based Carrols said. The company is the largest Burger King franchisee in the U.S.

Carrols realized it had been combining the sales discounts for separate Whopper value-meal promotions between June 3 and Aug. 26, which resulted in “significant” additional sales discounts relative to the advertised promotions that reduced restaurant sales by about $8.3 million. The company removed these excess sales discounts from the pricing of its Whopper value meals in late August and that action decreased significantly the level of Carrols’ promotional sales discounts and increased restaurant sales, the earnings report stated.

Excluding the impact of the “excess sales discounts,” comparable (or same-store) restaurant sales for the third quarter would have increased about 7.4 percent.

But, as reported, same-store restaurant sales for Carrols’ Burger King restaurants increased 4.5 percent compared to a 1.6 percent rise in the prior-year quarter.

The company’s adjusted EBITDA was $25.6 million compared to $26.5 million in the prior-year quarter. EBITDA is short for earnings before interest, taxes, depreciation, and amortization.

The impact of the excess sales discounts reduced adjusted EBITDA in the third quarter by about $7.3 million. Excluding the impact of the excess sales discounts, adjusted EBITDA in the third quarter of 2019 would have been about $32.9 million.

Carrols’ adjusted quarterly net loss was 9 cents per share. That was better than the consensus analyst estimate of a loss of 10 cents, according to Zacks Research.

CEO reaction

Comparable restaurant-sales growth during the third quarter included the “successful” introduction of the Impossible Whopper, which has contributed “incremental” restaurant sales since its launch in August and Carrols believes will “continue to positively impact our restaurant sales,” Daniel Accordino, chairman and CEO of Carrols, said in the firm’s earnings report.

The 2 for $6 Mix & Match sandwich platform has also performed “consistently well” while the $1 Crispy Taco provided a “new value offering” to the Burger King menu.

Carrols is one of the largest restaurant franchisees in the U.S. and currently operates 1,093 restaurants. It is the largest Burger King franchisee in the U.S., currently operating 1,032 Burger King restaurants. It also runs 61 Popeyes restaurants.

Ways to Avoid Reckless Holiday Spending that Could Wreck your Retirement

Business Mentors, Subscriber Only

While an enjoyable part of the holiday season is giving to others, those nearing retirement would be prudent to give something back to themselves as the year nears its end. That’s the advice from some retirement planners: Reduce holiday spending to provide more money for one’s retirement savings. But it’s a well-known fact that much of

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While an enjoyable part of the holiday season is giving to others, those nearing retirement would be prudent to give something back to themselves as the year nears its end.

That’s the advice from some retirement planners: Reduce holiday spending to provide more money for one’s retirement savings. But it’s a well-known fact that much of America wakes up with a credit-card hangover on New Year’s Day, and curtailing holiday expenses in favor of financial planning for one’s future requires more discipline and a stronger commitment.

It’s easy to overspend during the holidays and make too many emotional purchase decisions. That hurts your long-term financial goals.

The holiday shopping list may seem to get longer as you get older, but at some point you need to draw a line and balance your urge to give with the must of retirement considerations. It doesn’t mean you leave people out, but rather, you don’t go overboard and leave a little more for yourself. It can make a big difference in the long run.

Here are four tips on saving more for retirement during the holiday season.

Review your past expenses and plan for the big picture. The holidays are a good time to reflect on how you spent your earnings over the past year. Adjustments may be necessary to get your retirement savings on track. All through the year, money gets away from people a little bit at a time. That’s often because they don’t have a firm plan. Not dealing with your expenses correctly can be very costly to your retirement. The holidays are the right time to recalibrate for the future.

Make a holiday list, check it twice. People should approach their holiday season spending in a way that can help them get on track toward retirement goals. That starts with a budget and sticking to it, but many people overspend during the holidays and end up paying for it well into the new year. If you have a budget set for holiday shopping, you can prioritize and figure out how you will get it done within those boundaries. Look for deals to stretch your dollars. Setting a budget will help you avoid spending sprees that leak onto your credit cards. The carryover there is you may need to dedicate funds in the coming year to reduce that debt, which makes it harder to save for retirement.

Sock away gifts from the company. Getting extra money from your company is a reward that you can use wisely toward retirement. If you receive a nice bonus, don’t spend it. Put that extra cash into a 401(k). That lowers your taxable income and gives you a boost toward your savings goals. And if your company offers you a raise, set a healthy percentage of that raise aside for retirement savings in the coming year.

Make extra money. Holiday seasonal jobs are an excellent opportunity to put extra money away for retirement. Online positions allow someone to work from home, and pet sitting is another popular part-time job with more people traveling during the holidays.

It’s very tempting to spend this extra money, but if you have the big picture in mind, putting it in a long-term savings account is a great gift to yourself. With many Americans sinking further into debt during the holidays, it might be the right time for them to rethink how they spend and how it affects retirement.

Jay Sharifi, author of “Building a Better Legacy: Retirement Planning for Your Lifetime and Beyond,” is founder and investment advisor with Legacy Wealth Management (www.lwealthmanagement.com).

Albany, Syracuse firms take top two prizes in IDEA NY contest

Regional News, Small Business, Subscriber Only

ROME — Companies from Albany and Syracuse captured the top two prizes in the IDEA NY business-accelerator competition. PreVision Corp. from Syracuse won $100,000 as the runner-up, while United Aircraft Technologies (UAT) of Albany won the grand prize of $200,000 during the event held Nov. 13 at Griffiss Institute in Rome, Empire State Development (ESD)

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ROME — Companies from Albany and Syracuse captured the top two prizes in the IDEA NY business-accelerator competition.

PreVision Corp. from Syracuse won $100,000 as the runner-up, while United Aircraft Technologies (UAT) of Albany won the grand prize of $200,000 during the event held Nov. 13 at Griffiss Institute in Rome, Empire State Development (ESD) said in a news release.

PreVision focuses on real-time aerial 3D imaging technology, while United Aircraft Technologies is “modernizing the way aircraft wire maintenance is done through augmented reality and artificial intelligence,” as described in the ESD release.

Six teams from the current Air Force Research Laboratory (AFRL) Information Directorate Commercialization Academy participated in the competition. They pitched their startup ideas in cybersecurity, big data, information systems and unmanned aircraft systems for $300,000 in prize seed funding provided by IDEA NY.

ESD describes the AFRL Commercialization Academy as a “national leader for facilitating the transfer of military technologies into the commercial marketplace.”

UAT and PreVision will now participate in the yearlong IDEA NY accelerator program, which provides technical assistance to help grow their businesses. The Griffiss Institute will host the teams, which are required to reside in the Mohawk Valley for “at least one year,” ESD said.

The four remaining teams were awarded up to $8,000 in “consolation” prize money to reimburse expenses incurred during the incubation process.

About IDEA NY

The Innovation & Development Entrepreneurial Accelerator — known as IDEA NY Mohawk Valley — is a business-accelerator contest. It also involves a 12-month program that “incentivizes promising entrepreneurs to create and grow viable commercial businesses” in the Mohawk Valley region, ESD said.

IDEA NY Mohawk Valley will focus on the cybersecurity, big data, information systems and unmanned aircraft system (UAS), or drone, industries. It also builds on the Air Force Research Laboratory Commercialization Academy.

The accelerator program was made possible by a $2 million Upstate Revitalization Initiative grant from New York State, which was recommended by the Mohawk Valley Regional Economic Development Council.

The grant allows the Griffiss Institute to provide seed money to entrepreneurs and businesses over three years, with two groups of up to 10 teams per year competing for IDEA NY funding.

Fedor starts as Onondaga County Medical Society’s new president

Health Care, Subscriber Only

SYRACUSE, N.Y. — A family medicine physician with St. Joseph’s Physicians is the new president of the Onondaga County Medical Society. The installation of Dr. Justin Fedor as the organization’s 192nd president was part of its annual meeting held Nov. 7 at the Embassy Suites by Hilton Syracuse, Destiny USA. Fedor succeeds Dr. MaryAnn Millar

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SYRACUSE, N.Y. — A family medicine physician with St. Joseph’s Physicians is the new president of the Onondaga County Medical Society.

The installation of Dr. Justin Fedor as the organization’s 192nd president was part of its annual meeting held Nov. 7 at the Embassy Suites by Hilton Syracuse, Destiny USA.

Fedor succeeds Dr. MaryAnn Millar as president, the Onondaga County Medical Society said.

Besides Fedor, other executive council officers installed that evening include Dr. Joseph Spinale, president elect; Dr. Robert Dracker, VP; Dr. Michael Sheehan, treasurer; and Dr. Barry Rabin, secretary.

The Onondaga County Medical Society is a professional organization of more than 1,000 member physicians in the Syracuse area.

About Fedor

Fedor is a family medicine physician with St. Joseph’s Physicians and the medical director of the Fulton and Central Square urgent-care locations. He’s also the medical director for the North Syracuse Central School District.

Fedor graduated from the New York Institute of Technology College of Osteopathic Medicine. He completed his family medicine residency and internship at St. Joseph’s Hospital Health Center in Syracuse. He also chairs the Medical Society’s young physician committee.

Service awards

The Onondaga County Medical Society also recognized HealtheConnections with its distinguished service award — the Medical Society’s highest award — for distinguished service to physicians, hospitals, patients, and the community.

The Syracuse–based nonprofit HealtheConnections “provides health-information exchange services, population health improvement resources, and value-based solutions to 26 counties of the Central, Southern Tier, and Hudson Valley regions,” per its LinkedIn page.

In addition, the Medical Society honored Dracker with the Physician Service to the Medical Society award for “his contributions and decades of service” to the Onondaga County Medical Society and the Medical Society of the State of New York.

It also recognized Dr. Sunny Aslam with the Physician Service to the Community award for his “compassionate and dedicated care and outreach to the most vulnerable populations in Syracuse.”

Dr. Frederick Parker was honored with the Commendable Service by a Retired Physician award for his “ongoing efforts to promote excellence” in patient care at Upstate Medical University and “extensive” philanthropic efforts in the Syracuse community.

The Medical Society also recognized She Matters, a community outreach program at Upstate Cancer Center, with the Organization Service to Medical Care award. It was honored for its efforts in educating women in underserved areas of Syracuse about the importance of breast-cancer screenings and early detection.

In addition, the Jerry Hoffman Advocacy Award was presented to Zachary Visco — American Medical Association (AMA) medical student representative — for his advocacy on behalf of the AMA and the Medical Society.

2019 Innovation Resources Directory

Health Care, Small Business, Subscriber Only

CASE at Syracuse University 2-212 Center of Science & Technology Syracuse, NY 13244 – Phone: (315) 443-1060 – Website: case.syr.edu – Year Established: 1984 – Organization Type: incubator, funding source – Services/Resources Offered: forge university-industry research and development collaborations; engage students; deliver customized technology workshops and short-courses; host networking events; pursue funding opportunities; commercialize technology;

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KeyBank survey: Optimism Growing Among Women-Owned Small Businesses

Banks & Credit Unions, Small Business, Subscriber Only

Business is good, according to women small-business owners. A new Key4Women 2019 Financial Confidence Survey Report finds many women believe their business growth is set to continue and expand. The report, which surveyed 250 women small-business owners, finds 71 percent are highly optimistic of achieving their goals in the next 12 months, a 5 percent

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