Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
FM Realty Group broker/owner appointed NYSAR Central Region VP
Donald Radke of Syracuse took the oath of office Feb. 6 for a third term as the 2018 Central Region VP of the New York State Association of Realtors (NYSAR) during the association’s inauguration ceremony at the Desmond Hotel and Conference Center in Albany. Radke, a realtor for more than 40 years, is the broker/owner […]
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Donald Radke of Syracuse took the oath of office Feb. 6 for a third term as the 2018 Central Region VP of the New York State Association of Realtors (NYSAR) during the association’s inauguration ceremony at the Desmond Hotel and Conference Center in Albany.
Radke, a realtor for more than 40 years, is the broker/owner of FM Realty Group in Fayetteville.
He is an active member and past president of the Greater Syracuse Association of Realtors, where he has chaired the Legislative Committee and served on multiple others, according to a NYSAR news release. He is president of the Central New York Information Service, Inc., and serves on the board of managers for the New York State Alliance of MLSs. Radke is also a state-certified real-estate instructor.
At the state level, Radke is a member of the NYSAR board of directors and has served on several committees.
On the national level, Radke has served on the National Association of Realtors Board of Directors.
Locally in his community, Radke is chairman of the City of Syracuse Landmark Preservation Board and serves on the city’s new Land Use Rezone plan task force. Radke is also president of Focus Greater Syracuse, a citizen-engagement organization, and the president of the GR Barnes Foundation.
With clawbacks made clear, state OKs $15M grant for DeWitt building
DeWITT — NexGen Power Systems was OK’d for $15 million in state aid, but the California company is liable for millions of dollars in “clawbacks” if it doesn’t create the jobs it has promised, under a grant agreement approved Feb. 26. The state Public Authorities Control Board voted unanimously to approve a $15 million grant
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
DeWITT — NexGen Power Systems was OK’d for $15 million in state aid, but the California company is liable for millions of dollars in “clawbacks” if it doesn’t create the jobs it has promised, under a grant agreement approved Feb. 26.
The state Public Authorities Control Board voted unanimously to approve a $15 million grant for NexGen’s project at 50 Collamer Crossing Parkway in DeWitt, an 82,000-square-foot structure built with $90 million in taxpayer money to house a different California company.
The control-board vote had been delayed 10 days by Sen. John DeFrancisco (R–DeWitt) who demanded that Empire State Development (ESD) make clear the provisions for recovering taxpayer money if NexGen did not keep its promises. The provisions, commonly called clawbacks, were plainly laid out in the document that control-board representatives saw and voted on.
According to the documents, NexGen must create 10 jobs in 2018, or repay $2.5 million. Next year the number of jobs must reach 30, or the company will be liable for giving back $2.5 million. The jobs numbers rise year by year, and the liability continues at $2.5 million a year, until 2024 when NexGen must have created 290 jobs or repay $2.5 million.
However, under the agreement, NexGen gets a two-year grace period in any year it fails to meet the targets. “If at the end of the two-year “grace period,” grantee has still not met the relevant job commitment, then ESD will collect the recapture amount plus interest,” the project documents said.
NexGen is set to make components for power systems utilizing proprietary technology. NexGen holds multiple patents and creates gallium-nitride semiconductor devices. The company says its products allow for the building of smaller and more efficient power converters. Such converters are part of most electronics.
The $15 million ESD grant will help NexGen buy the equipment needed for production.
Another part of the agreement gives the state a measure of ownership in the equipment. NexGen will use the state money to buy the equipment and then give title for the equipment to Fort Schuyler Management Corporation, a nonprofit connected to SUNY Polytechnic Institute.
The building NexGen is set to move into was built by New York State to house Soraa, a California company that makes LED lights. Soraa walked away from the project without having to pay any clawbacks.
The failure to recover money in that case, and the involvement by NexGen’s CEO in an earlier project that did not come to fruition in the Rochester area, were two reasons cited by DeFrancisco when he explained blocking the control-board vote scheduled for Feb. 16.
“I would love to see the project completed,” DeFrancisco, No. 2 in the Republican-led Senate, told CNYBJ at that time.
DeFrancisco, who is running for governor, says he was OK with the provisions and penalties outlined Feb. 26, though he thought they could be tougher.
However, he notes that what was most important was that the control-board members got to see what they were voting on instead of blindly trusting ESD. “It’s not the greatest security, but at least it’s transparent,” DeFrancisco tells CNYBJ.
The state senator has filed a bill in the New York Senate that would require clawback provisions be made public in the future. “Hopefully, this is a model going forward,” DeFrancisco says.
In addition to the state assistance, the Onondaga County Industrial Development Agency (OCIDA) on Feb. 9 approved a $3.1 million payment in lieu of taxes agreement with NexGen. OCIDA also approved a sales-tax exemption on materials the firm buys to improve the facility, saving NexGen up to $40,000. OCIDA Executive Director Julie Cerio said at the time that there were clawbacks in the PILOT agreement. “We have clawbacks on everything,” she noted.
Crouse’s nursing school, Le Moyne expand nursing-education pact
SYRACUSE — The Pomeroy College of Nursing (PCON) at Crouse Hospital says general-education courses that PCON nursing students are required to take will be offered through Le Moyne College and taught by its faculty at the PCON campus. The expanded partnership begins this fall, Crouse Health and Le Moyne College said in a joint news
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — The Pomeroy College of Nursing (PCON) at Crouse Hospital says general-education courses that PCON nursing students are required to take will be offered through Le Moyne College and taught by its faculty at the PCON campus.
The expanded partnership begins this fall, Crouse Health and Le Moyne College said in a joint news release.
The collaboration will enable PCON students enrolled in academic courses that Le Moyne offers to have access to all student services at the college, Patty Morgan, PCON associate dean, said. The services include libraries, computing facilities, career services, student support, and recreational facilities.
The expanded partnership coincides with the recent state law that requires New York nurses to earn a bachelor’s degree in nursing within 10 years of becoming a registered nurse (RN), Morgan noted.
“We are endeavoring to make it as seamless as possible for our students to complete their RN degrees and transition into a high quality [bachelor’s degree in nursing] program,” she said.
The per-credit hour charge of PCON general-education courses “will increase slightly,” but the partnership with Le Moyne will “enhance the overall experience and quality of the college investment,” PCON contends.
“The bottom-line financing of a PCON/[Le Moyne College] education is still less expensive than other local, state and national nursing programs,” said Morgan.
Completing the RN degree and passing the NCLEX-RN exam are required before a nurse can pursue a bachelor’s degree program.
“We are pleased to have been selected to provide general-education courses to PCON students,” Margaret Wells, interim dean of the Purcell School of Professional Studies at Le Moyne College, said in the release. “This new development is a natural progression in the educational partnership we’ve established with the Pomeroy College of Nursing. The advantage to PCON students is the close working relationship we’ve developed with the administration and faculty at Crouse, which has been instrumental in understanding and responding to the needs of their students.”
Onondaga County hotel occupancy rate up more than 2 percent in January
SYRACUSE — Hotels in Onondaga County were fuller in January than in the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 2.2 percent to 41.7 percent in January from 40.9 percent a year earlier, according to STR, a Tennessee–based hotel
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — Hotels in Onondaga County were fuller in January than in the year-ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county increased 2.2 percent to 41.7 percent in January from 40.9 percent a year earlier, according to STR, a Tennessee–based hotel market data and analytics company. It was the fourth straight month in which Onondaga County’s occupancy rate rose compared to the year-earlier period.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, slipped 3.3 percent to $36.96 in January from $38.23 in January 2017.
Average daily rate (or ADR), which represents the average rental rate for a sold room, fell 5.4 percent to $88.58 in January, compared to $93.60 a year earlier.
Broome County hotel occupancy rate rises for a ninth month in January
BINGHAMTON — Hotels in Broome County saw more guests in January compared to a year ago, continuing a string of monthly occupancy increases, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 7.1 percent to 40.6 percent in January from 37.9 percent in
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
BINGHAMTON — Hotels in Broome County saw more guests in January compared to a year ago, continuing a string of monthly occupancy increases, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 7.1 percent to 40.6 percent in January from 37.9 percent in the year-prior month, according to STR, a Tennessee–based hotel market data and analytics company. It was the ninth consecutive month in which Broome County’s occupancy rate increased.
Revenue per available room (RevPAR), a key industry indicator that measures how much money hotels are bringing in per available room, increased 7.6 percent to $32.69 in January from $30.37 in January 2017. Broome County’s RevPAR has gained six months in a row.
Average daily rate (or ADR), which represents the average rental rate for a sold room, inched up 0.5 percent to $80.57 in January from $80.15 a year earlier, per STR.
MACNY to add Owens, Wardell to Manufacturers Wall of Fame
DeWITT — The Manufacturers Association of Central New York (MACNY) is planning to recognize Gregory Owens and Kirk Wardell for their efforts in the region’s manufacturing sector by adding them to its Manufacturers Wall of Fame. Owens is CEO of Liberty Tabletop of Sherrill, a division of Sherrill Manufacturing Inc., and Wardell is president of
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
DeWITT — The Manufacturers Association of Central New York (MACNY) is planning to recognize Gregory Owens and Kirk Wardell for their efforts in the region’s manufacturing sector by adding them to its Manufacturers Wall of Fame.
Owens is CEO of Liberty Tabletop of Sherrill, a division of Sherrill Manufacturing Inc., and Wardell is president of Marquardt Switches in Cazenovia.
MACNY will honor Owens and Wardell during its 105th annual dinner, which is set for May 24 at the SRC Arena and Events Center. The association will also commemorate their induction with a plaque on the Manufacturers Wall of Fame at MACNY headquarters at 5788 Widewaters Parkway in DeWitt.
The Manufacturers Wall of Fame celebrates individuals who have demonstrated “long-term dedication” to manufacturing in Central and Upstate New York.
Owens and Wardell will represent the 18th class of members inducted into the Manufacturers Wall of Fame, joining a “prestigious” group of manufacturing leaders who have been honored since the Wall of Fame’s inception in 2001, MACNY said.
“Liberty Tabletop and Marquardt Switches are two of our community’s stellar examples of manufacturing at its best, and it is no coincidence that Greg and Kirk are the company’s leaders. Their ability to navigate their companies through the many global challenges that come with manufacturing not only successfully, but as leaders in their industry, is a testament to their tenacity and leadership skills,” Randy Wolken, president & CEO of MACNY, said in a news release. “On behalf of the Wall of Fame selection committee and the manufacturing community as a whole, I would like to congratulate Greg, Kirk, and their families and employees on this well-deserved induction into the Manufacturers Wall of Fame. We look forward to honoring their dedication to manufacturing and their achievements at MACNY’s 105th annual dinner,” said Wolken.
Previous inductees will also attend and be recognized for their lifetime achievements at MACNY’s annual dinner, the association said.
About Owens
In 2005, when Oneida Ltd. decided to cease all U.S. manufacturing in favor of a “low-cost import model,” Owens teamed up with his partner, Matthew Roberts, and created Sherrill Manufacturing (and later Liberty Tabletop), according to the MACNY release.
They acquired the Oneida Ltd. manufacturing facility in Oneida.
Owens has since led Sherrill Manufacturing, Inc. and Liberty Tabletop through the “ups and downs of a turbulent economy in the early 2000s, driving what is now a successful and rapidly growing company, as well as a brand that holds the applaudable position of being the only United States-made flatware manufacturer today,” MACNY said.
About Wardell
Wardell is the president of Marquardt Switches in Cazenovia, a manufacturer and supplier of switches, sensors, and controls.
He has worked at Marquardt for more than 13 years, serving as the firm’s director of operations and industrial engineering before his most recent promotion to president, MACNY said.
Wardell is “best-known for his approachable leadership style and imaginative, dream-big mentality. It’s that perspective that has been a driving-force in making Marquardt Cazenovia highly competitive throughout the global Marquardt group. He is always asking, ‘What’s next?’ and ‘How can we get better?’ His vision and constant focus to achieve the next thing on the horizon has generated continuous momentum for improvement at Marquardt,” MACNY said.
Old or New, Clutter Cutting Still Reigns
The debate between traditional and modern is an age-old one. We see it in architecture, fashion trends, and restaurant styles. Opposing sides either lean on the comfortably familiar or are energized and lured by the new, daring techniques. In marketing too, the debate between the traditional and modern rages now more than ever. At its
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
The debate between traditional and modern is an age-old one. We see it in architecture, fashion trends, and restaurant styles. Opposing sides either lean on the comfortably familiar or are energized and lured by the new, daring techniques.
In marketing too, the debate between the traditional and modern rages now more than ever. At its core, at this particular point on the ever-moving needle, traditional marketing often means TV/radio commercials, billboards, printed flyers, and direct mail.
Modern marketing relies upon digital display ads, social media, pay-per-click models, e-blasts, web content, and audio/video ads within streaming services. In trying to reach both young and old audiences, businesses and organizations (especially those without a trusted agency adviser) may struggle to navigate these choices.
We often hear clients ask us, as they debate between “out with the old” and “in with the new,” which option should be the victor? Our answer is complicated — neither one always wins.
Is that answer too wishy-washy for you? Then here’s a better question to ask instead: What will stand out? When you make clutter-busting your primary goal, you realize that “traditional” and “modern” are just the names on the two toolboxes in your hands.
Successful advertisers (and agencies) are the ones who first ask the question, “How can we make our message and/or delivery unique?” then pick from their two open toolboxes accordingly.
To choose distinct over extinct, here are a few ways to approach a clutter-cutting strategy:
– Take a closer look at what each side of the traditional/modern bridge has especially going for it, and put your money there. For instance, the organizational pride communicated through a thick paper stock or the thoughtful charm of a handwritten note often can’t be beat. Nor can the ease of engagement of the smartly animated digital ad for shoes I Googled yesterday.
– Look for opportunities to take a piece of the modern and cross it over into the traditional, and vice versa. Like the TurboTax Super Bowl ad that got my attention because it used that all-too-familiar “Skip ad >“ graphic I was accustomed to seeing only in the YouTube universe, or the local hospital billboards to which we added animation and colored lights to make them extra engaging.
– Don’t be afraid to get a little quirky. We recently slapped some stamps on beach balls, Sharpied a quick message on them about how fun it would be to work with us, and then sent them to our top prospects in the mail last summer. Yes, they really did roll right into our prospects’ offices. Dare you to ignore that while you delete your first 20 promotional e-blasts before breakfast.
– For those who can’t bear to move that far offline, maybe clutter cutting looks like simply paying attention to a trend your customer cares and posts about, then customizing a LinkedIn message with some more reading material on that very topic. Turns out acts of thoughtfulness are sadly distinct, too.
You could probably help me flesh out this list more, just by thinking of the last marketing piece that made you think, “Well, there’s something different.” When you see those examples, print them and throw them in a folder with a sticky note like my 50-something business partner does, screen shot and save them to Google Drive like my 20-something digital-strategist colleague does. Whatever the medium you choose, help them stand out and inspire.
Jamie Jacobs is a partner at Riger Marketing Communications in Binghamton. Contact her at jjacobs@riger.com
U.S. Senate Minority Leader Charles E. Schumer and U.S. Senator Kirsten Gillibrand have announced $1.82 million in federal funding — including a loan of $1.27 million and a grant of $550,000 — for the Town of Sterling in Cayuga County. This federal funding is provided through the U.S. Department of Agriculture (USDA) Rural Development Water
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
U.S. Senate Minority Leader Charles E. Schumer and U.S. Senator Kirsten Gillibrand have announced $1.82 million in federal funding — including a loan of $1.27 million and a grant of $550,000 — for the Town of Sterling in Cayuga County.
This federal funding is provided through the U.S. Department of Agriculture (USDA) Rural Development Water and Waste Disposal Loan and Grants program, and the loan will be financed over a period of 38 years, the Democratic senators said in a news release.
Specifically, the funds will be used to construct a new water district in Sterling. The project will include the installation of about 25,000 feet of water-main distribution piping, hydrants, and valves, serving about 90 equivalent dwelling units (EDUs). This project will help improve the private water quality and quantity deficiencies for residents, per the release.
USDA Rural Development’s Water and Waste Disposal Program provides loans and grants for improvements in water and wastewater infrastructure to help deliver safe drinking water and protect the environment in rural areas.
Strategic Changes for Closing More Sales
For most of us, what we learn first sticks with us for a long time —often throughout our lives. That includes nursery rhymes, along with what we consider right and wrong. The acorn doesn’t fall far from the tree. It happens to salespeople, too. Because our early training is indelible, it stays with us to
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
For most of us, what we learn first sticks with us for a long time —often throughout our lives. That includes nursery rhymes, along with what we consider right and wrong. The acorn doesn’t fall far from the tree.
It happens to salespeople, too. Because our early training is indelible, it stays with us to guide us. But new demands and expectations call for strategic changes to keep up, stay relevant, and close more sales. Here are five of them.
Change your thinking about what you know
Salespeople are known for being sure — sometimes overly sure — of themselves. Although it takes self-confidence to keep going, it also has a risky downside. It can lead to believing we know more than we do. And nothing kills sales faster than arrogance.
A website designer’s creativity gave him an initial edge with a prospective client. Despite his obvious talent, he lost the job. His presentation was his downfall. It was obvious he had not taken the time to understand the organization or its services. He was so focused on what he was selling, he didn’t have a clue as to what his prospect wanted to buy. In other words, he didn’t know what he didn’t know.
Unless salespeople consciously challenge their thinking, they hand sales to the competition. We all benefit by asking ourselves these questions: What am I missing? What don’t I know? Are my assumptions correct?
Change the way you prepare presentations
Do you think you’re at a place where you can “wing it” or all you need to do to get ready for a presentation is to make a few notes, a quick outline, or go over it in your mind? If so, you’re deluding yourself and short-changing your employer and your customers. You may be good, but you’re not that good.
Like it or not, here’s the truth: If we don’t write it down, we only think we know it. This is what happened to the arguably brilliant “Hillbilly Elegy” author J.D. Vance when he went for job interviews at a prestigious Washington, D.C. law firm while at Yale Law School.
“The last interviewer asked me a question I was unprepared to answer: ‘Why did I want to work at a law firm?’ It was a softball, but I’d gotten so used to talking about my budding interest in antitrust litigation … that I was laughably unprepared. I should have said something about learning from the best or working on high-stakes litigation. I should have said anything other than what came out of my mouth: ‘I don’t really know, but the pay isn’t bad! Ha ha.’ The interviewer looked at me like I had three eyes, and the conversation never recovered.”
It happens to us all when we’re under pressure. We lose control and “default” to whatever comes to mind. Before we know it, we’re talking gibberish. And, like J. D. Vance, we can believe why we did it. It happens when we don’t prepare; when we don’t write it down.
Change the way you present
While presentations may have several objectives, they all have one overriding goal: engaging the participants. Unless that happens, a presentation may be interesting and informative, but it’s not a home run. Something is missing.
For a presentation to be a winner, it must be interactive and participatory. It takes courage to invite the participants to interrupt you by raising their hand to ask a question. But it also sends the message that the participants shape the presentation. This may sound dangerous, but it’s well worth the risk.
Change your persuasion strategy
There are still salespeople who say, “If I can just get in front of prospects, that’s all I need to close them.” If you want to give it a name, call it “the power of persuasion.” They build their case in a way that leads prospects to the logical conclusion that their only reasonable response is saying yes.
Such a sales strategy is still popular; however, more and more of today’s consumers and business buyers don’t buy it. They push back, feeling they’re being “set up,” “manipulated,” or “pushed.”
Today, push is out; pull is in. To influence buying behavior today takes a sales environment in which customers can decide if they want to do business with you. It’s one that gives them the opportunity to find out if they can trust you, if your message makes sense, and if you are reliable and responsive.
Change how you relate to customers
Even though companies continue preaching a customer-loyalty message, they may be deceiving themselves. For example, Accenture’s research indicates that 99 percent of retailers claim their loyalty programs perform at or above expectations, even though 71 percent of shoppers argue that such programs do not result in loyalty.
The trend is toward “tentative” or quid-pro-quo loyalty. “As long as you give me what I want, I’ll be loyal. If that changes, so will I.” This is the message. “These days, more and more consumers see their relationships with companies as an open marriage,” say authors Itamar Simonson and Emanuel Rosen in their book, “Absolute Value.”
Clearly performance-based relationships are taking over. What counts today are consistently good customer experience, convenience, an easy payment process, new and innovative products, customer service (phone, in-person or online, according to a Blackhawk Network study).
Even if they are an Amazon Prime customer paying $99 a year, customers don’t think twice about buying it for less elsewhere, particularly if they receive free delivery. Clearly, performance-based relationships trump everything, including loyalty.
They say change is inevitable. If it’s true, then there’s no better place to start than with ourselves.
John Graham of GrahamComm is a marketing and sales strategist-consultant and business writer. He is the creator of “Magnet Marketing,” and publishes a free monthly eBulletin, “No Nonsense Marketing & Sales Ideas.” Contact him at jgraham@grahamcomm.com or johnrgraham.com
The Art of Using Other People’s Money to Make Yourself Look Virtuous
Suppose your extended family hires somebody to manage its retirement money. They tell the manager his only job is to manage the investments wisely. “This is our retirement money. Be careful with it. Try to make it grow as much as possible. Without taking stupid risks.” He invests your money in many stocks and bonds.
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Suppose your extended family hires somebody to manage its retirement money. They tell the manager his only job is to manage the investments wisely. “This is our retirement money. Be careful with it. Try to make it grow as much as possible. Without taking stupid risks.”
He invests your money in many stocks and bonds. And he does a fairly good job. But in one report he declares he sold all your investments in tobacco companies. And in Coca Cola and snack companies. And in McDonalds. “The products from these companies are bad for our health,” he tells you. “My son has diabetes. My aunt has lung cancer. I just cannot bear to invest in these companies.”
Suppose in the next report he says “I’ve sold all your stocks and bonds from oil and gas companies and pipeline companies. Because they deal with fossil fuels that contribute to global warming. I am a big-time green guy. It is sinful to me to invest in those companies.”
At your next family meeting, Uncle Fred confronts the manager, saying, “Where the hell do you get off? You are using our money to make your political statements. Your job is to grow our retirement assets. Period. We did not hire you to express yourself with our money.”
Do you think maybe Uncle Fred makes a good point?
A lot of politicians do just what that manager does. They use other people’s money to grandstand and to champion causes in ways that make them look good.
Take New York City’s pension funds. The pols have withdrawn $5 billion from stocks and bonds of oil and gas companies. And from stocks of other companies in the big fossil fuel industry. The pols of San Francisco, Berkeley, Madison, and many other cities have done the same.
There is a village near me whose mayor dumped oil and gas stocks from the village’s pension fund. Why? Because he is a passionate anti-fossil fuel guy.
Meanwhile, managers of investments for many companies and pension funds have followed suit. They caved to pressure from green activists who campaign to “Keep it in the ground.”
I’m with Uncle Fred. Where the hell do the pols get off? Their job is supposed to be to manage other people’s retirement monies to get the best return. It is not their job to use those monies to express their political and environmental wishes.
A lot of studies show that such shenanigans reduce the returns of pension investments. Because they take the pension funds out of a large and profitable sector of the economy.
Uncle Fred’s main point is that “This money is ours. Not yours. Express yourself with your money.”
From Tom…as in Morgan.
Tom Morgan writes about political, financial, and other subjects from his home in upstate New York. You can write to Tom at tomasinmorgan@yahoo.com. You can read more of his writing at tomasinmorgan.com
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.