Family & Children’s Society elects board of directors

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Nonprofits

BINGHAMTON, N.Y. — The Family & Children’s Society announced the following people were elected to its board of directors at the nonprofit’s annual meeting held

Kinney Drugs opens new, larger Chittenango store

Construction, Design & Real Estate, Sports, Entertainment & Tourism

CHITTENANGO, N.Y. — Kinney Drugs opened its newly relocated Chittenango store Wednesday morning. The new and expanded store is situated in a shopping plaza at

DiNapoli: state pension fund generates nearly 7.2 percent return in latest year

Employee Benefits & Human Resources, Law, Accounting & Taxes

ALBANY, N.Y. — The New York State Common Retirement Fund reached an estimated value of $183.5 billion and produced a 7.16 percent rate of return

Schumer: defense-spending bills include money for Ft. Drum training facility

Law, Accounting & Taxes

FORT DRUM, N.Y. — Funding for a non-commissioned officer (NCO) training academy at Fort Drum is “incorporated” into military-construction bills in both the U.S. Senate

Vernon Downs formally opens new parking garage

Construction, Design & Real Estate

VERNON, N.Y. — Vernon Downs Casino, Hotel, Racing & Entertainment last Friday formally opened a new parking facility. The $7.2 million parking garage offers visitors

People news: Loretto names Hoehner general counsel

People on the Move

SYRACUSE, N.Y. — Loretto has appointed Holly Hoehner vice president and general counsel. She will also serve as Loretto’s corporate compliance officer. Loretto is a

Doing business internationally doesn’t have to be hard

Business Mentors

Welcome to the inaugural edition of “Thinking International,” a column dedicated to all things international as it relates to uncovering new business opportunities. The goal

The Non-Techie’s Guide to Google’s Mobile-Friendly Update

Business Mentors, Technology

April 21 is a day that lived in infamy (or glory) for many websites, as Google updated its criteria and began ranking mobile-friendly websites higher.

Coast 2 Coast is acquired by western New York’s Sunnking

Subscriber Only

SYRACUSE — Sunnking Inc., a 15-year-old Brockport–based electronics-recycling firm, has recently acquired Coast 2 Coast Electronics Recyclers Inc. of Syracuse to give it a brick and mortar presence and grow its business here. The acquisition closed on April 6, Adam Shine, vice president at Sunnking, tells CNYBJ in an email. He declines to disclose

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The acquisition closed on April 6, Adam Shine, vice president at Sunnking, tells CNYBJ in an email. He declines to disclose the purchase price, but says it was a cash deal.

Sunnking specializes in refurbishing, reselling, and recycling electronic products from residential and commercial customers throughout New York state and surrounding areas. It has recycling facilities in Buffalo, Brockport, Rochester, and now Syracuse. The company previously serviced the Syracuse area from its Rochester site, Shine says.

Coast 2 Coast has served the Syracuse market for many years, providing pick-up, data destruction, and recycling of electronics, according to Sunnking.

“Sunnking can provide additional services to our customers that we were unable to provide, and give our former clients access to a leading and growing company that works hard to keep jobs in Upstate NY,” Phil Jakes–Johnson, former owner of Coast 2 Coast, said in a May 12 news release, announcing the deal.

Sunnking acquired Coast 2 Coast’s four employees, customer lists, material, and “access to their existing space until we outgrow the facility,” Shine says.

Coast 2 Coast’s facility is 15,000 square feet and processes/recycles nearly 1 million pounds of electronic materials each year, he adds.

Sunnking now has 67 employees following this acquisition. It processes/recycles 24 million pounds of materials annually, Shine says.

Shine declines to disclose Sunnking’s revenue but says, “we have experienced substantial revenue growth in each of the past three years.”

As technology changes rapidly, the need to dispose of obsolete electronic equipment in an environmentally responsible way has increased, the company says on its website. Most electronics can be fully recycled.

Materials recovered through the recycling process for reuse include glass, copper, aluminum, tin, steel, iron, plastic, silver, platinum, and gold, Sunnking says.

Oneida Savings Bank to cut 61 jobs in July after sale to Community Bank closes

Banks & Credit Unions, Subscriber Only

ONEIDA — Oneida Savings Bank, a unit of Oneida Financial Corp. (NASDAQ: ONFC), will eliminate 61 back-office positions from its offices in Rome and Oneida between July 17 and July 30. The job cuts are a result of the impending acquisition of Oneida Financial by DeWitt–based Community Bank System, Inc. (NYSE: CBU), parent of

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ONEIDA — Oneida Savings Bank, a unit of Oneida Financial Corp. (NASDAQ: ONFC), will eliminate 61 back-office positions from its offices in Rome and Oneida between July 17 and July 30.

The job cuts are a result of the impending acquisition of Oneida Financial by DeWitt–based Community Bank System, Inc. (NYSE: CBU), parent of Community Bank, N.A.

The reductions are due to “overlapping operational responsibilities,” Hal Wentworth, senior vice president of retail banking for Community Bank, said in a statement. He added that Community Bank is “working to ensure that these individuals receive proper severance benefits, as well as job retraining, re-employment services and other assistance through the New York State Department of Labor.”

The cuts were disclosed on May 12 on the state Department of Labor website in accordance with the Worker Adjustment and Retraining Notification (WARN) Act, which requires businesses of a certain size to give notice of layoffs and closings before they happen.

The affected Oneida Savings Bank employees are not represented by a union, according to the WARN notice the bank filed.

The merger of the two financial institutions was first announced in February by Community Bank System after it agreed to purchase Oneida Financial for $142 million in a mix of stock and cash. The deal is expected to close in July.

Oneida Savings Bank was established in 1866 and operates 12 banking offices in Madison and Oneida counties. It has total assets of nearly $800 million, deposits of $690 million, and 12 banking offices across Madison and Oneida counties.

In addition to Oneida Savings Bank, Oneida Financial is parent company of State Bank of Chittenango; OneGroup NY, Inc. (formerly Bailey & Haskell Associates, Inc.), an insurance, risk management, and employee-benefits company; and Oneida Wealth Management, Inc., a financial services and investment-advisory firm.

Community Bank System, with assets of about $7.5 billion, operates more than 190 branches across upstate New York and Northeastern Pennsylvania through its banking subsidiary, Community Bank, N.A. That includes 51 branches in the 16-county Central New York area, including seven in the Syracuse metro area, according to FDIC data.

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