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New practice group at BSK to focus on long-term care
SYRACUSE — The law firm Bond Schoeneck & King, PLLC of Syracuse is forming a new practice group focusing on long-term care after the addition of six new attorneys from a firm specializing in that field. All six lawyers from the Albany–based firm of Ruffo Tabora Mainello & McKay, P.C. (RTMM) joined Bond effective Jan.
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SYRACUSE — The law firm Bond Schoeneck & King, PLLC of Syracuse is forming a new practice group focusing on long-term care after the addition of six new attorneys from a firm specializing in that field.
All six lawyers from the Albany–based firm of Ruffo Tabora Mainello & McKay, P.C. (RTMM) joined Bond effective Jan. 1.
“We saw an opportunity to bring in a new skill set, lots of new skill sets with some very, very good lawyers,” says Richard Hole, chairman of Bond’s management committee.
Two of the new attorneys, David Ruffo and Raul Tabora, will co-chair the new practice group. The others joining Bond are Mark Mainello, John McKay, John Darling, and Damien Bielli.
The group serves long-term care providers like nursing homes and assisted-living facilities in areas including regulatory compliance, licensing, business restructuring, creditors’ rights and bankruptcy, employee benefits and executive compensation, labor and employment law, and government relations, according to Bond.
Bond already had a large health-care team in place, Hole notes, and worked with clients in long-term care on issues often involving labor law and employee benefits. Bond and RTMM worked together with some clients in the past.
The attorneys from RTMM bring a level of expertise and concentration on issues specific to long-term care that will help Bond grow its health care work, Hole says.
“Within our plans, clearly, one of the things we are focused on is growing our health care practice. It’s gotten a lot of attention here,” he says. “There’s so much activity in this area. And it’s not going to abate.”
RTMM was not necessarily looking to join up with a larger firm, Tabora says. The law firm began in 2003 and has developed a solid statewide reputation for its long-term care work, he says.
Tabora adds he’s had discussions with other larger firms like Bond in the past, but the fit was never right. He and an attorney in Bond’s Albany office got to know each other through the New York State Bar Association’s Health Law Section.
That led to the discussions about joining together, Tabora says. Health care clients, he notes, are demanding more efficiency from their legal teams as the industry faces growing cost pressures and other changes.
Investments like technology upgrades are tough for a small firm like RTMM, Tabora says. And because of its small size, the firm was never able to grow beyond its core client base.
Joining up with Bond will help that, he says. Nursing homes, assisted-living facilities, and home health agencies are all facing new challenges as a result of health-care reform.
“The health-care industry right now is going through monumental change,” Tabora says.
The RTMM attorneys, who were located at offices in Albany, Pittsford, and Lake Success, will join Bond’s offices in Albany, Rochester, and Garden City. Bond, with more than 200 attorneys, has additional offices in Buffalo, Ithaca, New York City, Oswego, Utica, Overland Park, Kan., and Naples, Fla.
Bond Schoeneck & King has more than 400 total employees, including attorneys and support staff. The firm is headquartered in 89,000 square feet at One Lincoln Center in downtown Syracuse.
Contact Tampone at ktampone@cnybj.com
More Syracuse CEOs worrying about the economy in 2013
SYRACUSE — Senior-level managers at Central New York Businesses are far from bullish on the state’s economic prospects in 2013, according to a survey released by First Niagara Bank. The bank’s sixth annual Survey of Upstate New York Business Leaders found that a growing portion of polled CEOs, CFOs, and top managers believe business conditions
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SYRACUSE — Senior-level managers at Central New York Businesses are far from bullish on the state’s economic prospects in 2013, according to a survey released by First Niagara Bank.
The bank’s sixth annual Survey of Upstate New York Business Leaders found that a growing portion of polled CEOs, CFOs, and top managers believe business conditions will grow worse over the new year. More than one-third of the Syracuse region’s corporate leaders, 34 percent, predicted worsening business conditions in New York, up 4 points from a year ago.
An equal portion of business leaders, 34 percent, said conditions will improve in 2013. But that number was unchanged from last year. Meanwhile, 32 percent of those surveyed said conditions would stay the same, down from 36 percent last year.
“I think these companies are reacting to what they perceive to be very stable but bleak economic conditions,” said David Kavney, Central New York market executive for First Niagara Bank, which is a subsidiary of Buffalo–based First Niagara Financial Group, Inc. (NASDAQ: FNFG). Kavney spoke in a media session after the survey results came out Jan. 8.
“Our survey results in the Syracuse area, Central New York, were consistent with Upstate,” Kavney said. “It seems to be a lack of confidence in the ability of the overall economy just to get started. We’ve seen a lot of companies just staying very well positioned to deal with what they have today.”
The Siena (College) Research Institute conducted the survey for First Niagara. It polled 1,142 leaders of upstate private companies with annual sales between $5 million and $150 million. In the Syracuse area, 118 senior managers participated.
Of the Syracuse–area participants, 38 percent expected to boost revenue in 2013, down from 41 percent a year ago. Another 32 percent of business leaders in the area think revenue will decrease in the coming year.
The region’s senior managers painted a bleaker picture for profitability in 2013, with 38 percent anticipating a decrease in profits. Last year, just 28 percent believed profits would go down. Moving back to 2013 predictions, 27 percent of those surveyed foresaw rising profits.
Even so, 56 percent of Central New York’s business heads plan to invest in fixed assets over the coming year. More than half of those who want to invest, 56 percent, expect to use internally generated funds, and 33 percent said they will likely turn to a financial institution for funding.
Plans to hire edged up, with 23 percent of Syracuse-area survey participants sharing plans to grow their workforce in 2013. The result is up from 21 percent a year ago. The portion of executives intending to decrease their labor force also went up, rising to 15 percent from 13 percent last year.
“In general we’re starting to feel that there is a little more optimism in Central New York,” Kavney said. “There’s a lot of construction and building. There seems to be some construction optimism, I’d call it, which hopefully has resulted in some of that uptick in hiring.”
Overall, though, companies’ leaders were not optimistic, according to the survey’s confidence index. It is measured on a scale of zero to 200, with zero representing the greatest possible level of pessimism, 200 representing the highest level of optimism, and 100 being the break-even point where optimism and pessimism are equal.
Central New York’s overall confidence index slipped 5.4 points to 89, moving away from its break-even point. An index measuring the region’s current confidence dropped 6.6 points to 81.4, while one measuring its future confidence declined 4.3 points to 96.6.
The Syracuse area’s overall confidence index of 89 proved to be the third-highest overall confidence reading out of five Upstate regions that were measured. It slotted in behind Albany, where confidence tallied 96.3, and Rochester, where it was 91.8. Syracuse led the Hudson Valley and Westchester region, where confidence notched 83.5, and Buffalo, where it came in at 80.6.
Overall confidence declined in all five regions.
“I think there’s frustration out there with what is perceived to be a stalled economy,” Kavney said.
Contact Seltzer at rseltzer@cnybj.com
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.