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New York home sales drop in January
Home sales across New York dipped slightly in the first month of 2012, according to the New York State Association of Realtors (NYSAR). Realtors sold
Sensis systems headed for NYC airports, South Korea
DeWITT — Saab Sensis Corp. said today its technology will be used to improve the safety of flights near the Lotte World Tower in Seoul,
InfiMed to be acquired by Varian
SALINA — A Palo Alto, Calif.–based company will acquire Salina–based InfiMed, Inc. in a deal set to close next month. Varian Medical Systems, Inc. (NYSE:
ConMed to start paying cash dividend
UTICA — ConMed Corp. (NASDAQ: CNMD) has decided to start paying shareholders a quarterly cash dividend. The Utica–based medical-technology company has declared an initial dividend
Chancellor touts contributions of SUNY campuses
SYRACUSE — Economic development and job creation will remain a priority for State University of New York (SUNY) campuses in the years ahead, SUNY Chancellor
Sydow honored with Crystal Ball for selling OCC’s strengths to the community
SYRACUSE — After spending years closing a public-perception gap about Onondaga Community College (OCC), Debbie L. Sydow says she is gratified to receive an award recognizing her contributions to the sales and marketing profession. Sydow, OCC’s president, has been named the recipient of the Central New York Sales and Marketing Executives (CNYSME) 2012 Crystal Ball
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SYRACUSE — After spending years closing a public-perception gap about Onondaga Community College (OCC), Debbie L. Sydow says she is gratified to receive an award recognizing her contributions to the sales and marketing profession.
Sydow, OCC’s president, has been named the recipient of the Central New York Sales and Marketing Executives (CNYSME) 2012 Crystal Ball Award. CNYSME gives the award annually to a local businessperson for contributions to the sales and marketing vocation. The Crystal Ball Award also recognizes efforts in community development and support.
“In recent years, through a very focused, comprehensive strategic plan, we’ve been able to help the Central New York community get a very clear understanding of what Onondaga Community College has to offer,” Sydow says. “A lot of that has been through more effective communications.”
When Sydow arrived at OCC in 2000, the community viewed the institution inaccurately, she contends.
“It was considered to be a college that for high-school students would be their last choice, not their first,” Sydow says. “In general, the college didn’t have the level of respect that everyone I talked with believed it deserved.”
CNYSME, founded in 1935, provides training and development, networking, and other opportunities and resources to sales and marketing professionals in Central New York. The organization will recognize Sydow and local sales and marketing professionals at its 36th Annual Crystal Ball and Sales & Marketing Excellence Awards (SMEA) banquet on Thursday, March 8 at the Sheraton Syracuse University Hotel & Conference Center. SMEA recipients represent several local businesses (see write-ups inside). The event begins in the Regency Ballroom with a 5:30 p.m. cocktail hour, followed by dinner at 6:30 p.m., and the awards ceremony.
“We selected Debbie Sydow because of her hard work and dedication to OCC and to the community,” says CNYSME President Katherine Rech. “She’s a great leader for the community and a great marketing person at OCC. She markets the college as a great institution for education.”
Branding study
In 2002, Sydow launched an identity project at OCC. The college conducted a two-year branding study, interviewing guidance counselors, prospective college students, high-school students, and alumni.
OCC used information from that study to try to show the Central New York community that it provides students with a high-quality education, according to Sydow.
“If a student needs counseling, academic tutoring, or any kind of additional support, we provide that,” Sydow says. “It’s our brand, our promise.”
To help push that brand, the college unveiled a new crest in 2005, featuring the word “Onondaga.” Major upgrades to its campus have also helped, according to Sydow.
She has overseen a capital improvements program that resulted in more than $100 million being invested in campus facilities. Improvements range from updated classrooms to new residence halls that opened in 2006 to the SRC Arena and Events Center, which opened in December.
The college also receives a marketing boost from Syracuse Jazz Fest, Sydow says. The annual Jazz Fest brings thousands of people to campus every year, helping OCC showcase its facilities, she says.
“I’m trying to effect the kinds of changes that will elevate educational levels for the entire community,” Sydow says. “I want to stress that it’s an ongoing challenge not just for Onondaga Community College, but [also] for higher education to communicate with changing groups of students and changing markets.”
The college, which has about 12,700 students, can no longer simply rely on published materials to attract prospective students, Sydow says. It is now working to develop mobile applications and materials that can be viewed on mobile devices.
It is also keeping an eye toward adults who are returning to school to upgrade their skills and qualifications for obtaining the jobs of tomorrow. They have a high potential to drive enrollment growth, according to Sydow.
Past Crystal Ball Award winners include John Stage, founder and CEO of Dinosaur Bar-B-Que; Peter J. Coleman, Jr. the publican (saloonkeeper) of Coleman’s Authentic Irish Pub on Tipperary Hill; Edward Levine, president and CEO of Galaxy Communications, LP in Syracuse; John MacDougall, founder and president of Nice-N-Easy Grocery Shoppes; Syracuse University Chancellor Nancy Cantor; and Jack Webb, president and CEO of Alliance Bank, N.A.
Hardinge Q4 sales, profit surge and firm expects strong 2012
ELMIRA — Hardinge, Inc. (NASDAQ: HDNG) reported that sales rose 11 percent and net income jumped 69 percent in the fourth quarter of 2011 from the year-ago period as the machine-tool market recovered and it boosted sales to North America. Elmira–based Hardinge announced net income of $3.2 million, or 28 cents per share, in the
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ELMIRA — Hardinge, Inc. (NASDAQ: HDNG) reported that sales rose 11 percent and net income jumped 69 percent in the fourth quarter of 2011 from the year-ago period as the machine-tool market recovered and it boosted sales to North America.
Elmira–based Hardinge announced net income of $3.2 million, or 28 cents per share, in the latest quarter, on sales of $91 million, up from net income of $1.9 million, or 17 cents, on sales of $82 million in the fourth quarter of 2010.
“We delivered another solid quarter that culminated in a year of strong performance as we grew sales and demonstrated the
operational level inherent in our business,” Hardinge President, Chairman, and CEO Richard Simons said during a Feb. 16 conference call to discuss the company’s earnings report with investors and the media.
For the year, the machine-tool manufacturer reported a 33 percent increase in sales to $341.6 million. Net income rebounded strongly from a net loss of $5.2 million, or a 46 cent loss per share, in 2010 to net income of $12 million, or $1.02 per share. In 2010, the company said it suffered from both a weak global economy and supply-chain delays for some raw materials.
Hardinge benefited in 2011 from a strong rebound in the machine-tool industry as well as from efforts it has made in the past several years to expand its domestic market, reduce its capital requirements, and improve efficiency.
Strong sales in North America bolstered the company, particularly during the fourth quarter, Simons said. While overall sales were up 11 percent for the quarter from a year earlier, sales fell 10 percent in Asia. However, a more than 100 percent increase in North America sales from $15.3 million in the fourth quarter of 2010 to $31.8 million in the fourth quarter of 2011 drove sales and profit growth, Simons said. Yearly sales to North America grew from $31.6 million in 2010 to $90 million in 2011.
Sales to Europe, which is struggling with its own economic woes, dropped 13 percent to $26.4 million in the fourth quarter, and Simons said he expects those sales to remain relatively stable this year and not to affect overall sales growth.
In 2012, Hardinge should benefit from continued economic recovery as well as facility improvements the company made in 2011, Simons said.
“We invested $17.2 million in 2011 to more than double our manufacturing capacity in China and for adding a facility and equipment for productivity enhancements in Switzerland,” he said. The increased capacity and productivity should enable Hardinge to grab more market share, he said.
In all, the company boosted capital expenditures to $19.2 million in 2011, from $3.7 million in 2010 and $3.2 million in 2009.
“We believe the long-term growth trend still makes sense,” Simons said. “We feel confident we can grow our business by targeting customers that value our quality, speed, and flexibility.”
The goal, he said, is to grow Hardinge’s sales faster than the machine-tool consumption rate. To make sure Hardinge is first in customers’ minds, he said the corporation will participate in a number of trade shows such as the International Manufacturing Technology Show in Chicago this September and the MACH 2012 Exhibition in England in April. The company will also hold an open house at its Elmira headquarters in June, grand-opening ceremonies for its new factory in China in May, and an open house at some point at its Switzerland facility.
Hardinge shares had surged in price, leading up to the Feb. 16 earnings report, rising 35 percent from $8.05 at the end of 2011 to $10.86 at the close of trading Feb. 15. The company’s stock price fell more than 8 percent to $9.95 on Feb. 16, after the earnings report and conference call.
Hardinge (www.hardingeus.com) employs about 400 people in Elmira and another 700 in Asia and Europe. The company manufactures machine tools for the aerospace, agricultural, transportation, consumer-goods, communications, electronics, construction, defense, energy, pharmaceutical and medical-equipment, and recreation industries.
Last year, Stephen Moore wrote an op-ed piece in the Wall Street Journal entitled “We’ve Become a Nation of Takers, Not Makers.” His point was that America had morphed from a nation that manufactured things to a nation of government workers. In 2011, the U.S. had about twice as many people working for government (22.5
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Last year, Stephen Moore wrote an op-ed piece in the Wall Street Journal entitled “We’ve Become a Nation of Takers, Not Makers.” His point was that America had morphed from a nation that manufactured things to a nation of government workers.
In 2011, the U.S. had about twice as many people working for government (22.5 million) as it had employed in the manufacturing sector (11.5 million). In New York State, the ratio was more than three to one in favor of government employees. In 1960, the national ratio was reversed, with the manufacturing industry employing twice as many people as government.
Worse yet, Moore added up all the people in 2011 employed not just in manufacturing but also in construction, farming, fishing, forestry, mining, and utilities and still found more government workers than all the other-mentioned sectors combined.
Moore concluded that the trend would continue because recent surveys of college graduates indicated a growing number of America’s best minds continue to gravitate towards government agencies, because the agencies not only grow historically, but also provide something approaching lifetime security.
I thought about Moore’s focus on Americans as “takers” when I read the just- released Heritage Foundation report: “2012 Index of Dependence on Government.” (http://www.heritage.org/research/reports/2012/02/2012-index-of-dependence-on-government). The report indicates that 67.3 million Americans now rely on assistance from Washington in the form of items such as food, shelter, clothing, college tuition, and health care. The benefits collectively add up to $2.5 trillion, which is roughly 70 percent of the current national budget (and nearly 100 percent of the taxes collected). In 1962, government programs represented only 28.3 percent of the national budget.
The Heritage report also points out a parallel trend in which the number of U.S. residents not paying federal-income tax rose from 12 percent in 1969 to 49.5 percent in 2009. This means that 151.7 million Americans paid no federal-income tax in 2009.
Are you sitting down? The Heritage report also notes that Americans dependent on government receive an average of $32,748 worth of benefits. The average American’s disposable income is $32,446. Being dependent on government is now a better deal for most Americans than working.
Clearly, the country is reaching a tipping point where a government-dependent population will be happy to receive additional benefits paid for by others. Is it surprising that our elected representatives call for even more entitlements and subsidies rather than spending prudence?
Three thousand three hundred years ago, Jewish civil code spelled out our obligation to others and to ourselves. In Exodus, the law stated: “If you see your enemy’s ass sagging under its burden, you shall not pass by. You shall surely release it with him.” A parallel command in Deuteronomy says: “You shall not see your brother’s ass or his ox falling (under its load) in the road, and hide yourself from them. You shall lift it (the load) up with him.”
Our obligation to help others is clear. So is the fundamental principle of reciprocity. To quote the current chief rabbi of England: “We owe duties to those who recognize the concept of duty.” In other words, we have a responsibility to those who acknowledge responsibility.
Our current system of increasing government dependence saps individual responsibility. It creates what psychologist Martin Seligman calls “learned helplessness,” or in the language of addiction therapy, we become “co-dependents” reinforcing the very problem we want to solve.
Further proof of this learned-helplessness and lack of individual responsibility comes from a study recently released by the Kaufman Foundation. The study focused on why employers were not currently aggressive in adding employees. Aside from the usual responses about regulatory uncertainty, sluggish growth, difficulty in accessing capital, and global instability, the study found that many employers interview too many potential hires who are ill-educated, not trained to work, and lack the ethic to work hard. In short, they are unemployable. Think we’re only talking about our nation’s youth? Kaufman says you can also add a wide swath of America’s middle-aged men and women.
George Bernard Shaw wrote that “…liberty means responsibility. That is why most men dread it.” Without the acceptance of personal responsibility, we are certainly becoming a nation of takers.
Norman Poltenson is the publisher of The Central New York Business Journal. Contact him at npoltenson@cnybj.com
IRS Heeds Voice of Small Business, Drops Proposed Paperwork Burden
It’s not often that small businesses look favorably upon the Internal Revenue Service (IRS). Typically, the entrepreneurs of Main Street respond to any IRS directive with fearful uncertainty. Such was the reaction displayed upon learning that the nation’s tax collector had issued a new costly and time-consuming paperwork requirement. It began as a new line
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It’s not often that small businesses look favorably upon the Internal Revenue Service (IRS). Typically, the entrepreneurs of Main Street respond to any IRS directive with fearful uncertainty. Such was the reaction displayed upon learning that the nation’s tax collector had issued a new costly and time-consuming paperwork requirement.
It began as a new line slipped into the annual small-business income-tax return. IRS regulators decided that the government was being short-changed by businesses not reporting or underreporting their electronic payments and they proposed to close the gap by forcing small businesses to reconcile gross receipts with the figures reported on a new form: The 1099-K.
Perhaps the IRS thought no one would notice, but the National Federation of Independent Business (NFIB) exists primarily to prevent just such encroachments by state and federal governments. Sometimes they’re huge assaults, such as President Obama’s unconstitutional health-reform law, but more often they’re little legal ditties that can cause big headaches for the free-enterprise sector.
As it has done for nearly 70 years, NFIB maintains an especially close eye on federal revenuers — no easy task given the work force of more than 100,000 tax examiners, revenue agents, and collectors. Upon discovering that new 1099-K paperwork mandate, NFIB immediately called on the IRS to eliminate it, warning officials that this could further undermine the sagging confidence of small-business owners and create yet another paperwork headache — taking time and expenses away from running their businesses.
NFIB shared small-business’ concerns that something as simple as a customer’s request for a cash-back transaction on a debit-card purchase could significantly increase owners’ paperwork burdens. In addition, the demand could task them unnecessarily with sorting through payment certificates to subtract state and federal point-of-sale taxes that third-party processors aren’t always able to separate.
To its credit, the IRS agreed that the taxes captured wouldn’t be worth the damage inflicted on the nation’s job creators. Not only did the agency drop the requirement for the 2012 tax year, but officially stated that it had no intention of requiring such reconciliation in the future.
Had the nation’s leading small-business watchdog not earned this victory, the choices facing millions of entrepreneurs would have been painful. Customers would be lost if their payment options were limited. Owners would have been forced to invest scant earnings in unnecessary accounting systems, waste countless hours of management time sorting through receipts, or pay professional tax services to handle the chore.
Also contributing to this win for Main Street were friends of small business on Capitol Hill. The rollback was supported by U.S. Sens. John Thune of South Dakota and Maria Cantwell of Washington State, and Illinois Reps. Aaron Schock and Bobby Schilling. And, to ensure the IRS will not threaten small firms in the future with such nuisance paperwork, protective legislation has been introduced in both chambers of Congress.
This small, but important victory isn’t likely to change small-business owners’ opinion of the IRS, but it does offer some much-needed encouragement for those who bear the responsibility of serving as the backbone of the nation’s economy.
Dan Danner is president and CEO of NFIB, which represents 350,000 small-business owners in Washington, D.C. and every state capital.
Clothing and footwear retailer opens in downtown Syracuse
SYRACUSE — Philadelphia–based Villa, Inc. has opened a new store in downtown Syracuse. The store, located at 317 S. Salina St., joins 34 other Villa
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