Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
State gives grants to flood-damaged Southern Tier towns
Five Southern Tier municipalities will receive grants from the New York State Department of State to help them recover from flooding that swept the region
Fourth-quarter slide doesn’t derail record full-year earnings at Chemung Financial
ELMIRA — The acquisition of Fort Orange Financial Corp. in the second quarter of last year helped push earnings at Chemung Financial Corp. to record
Ollie’s Bargain Outlet reopens after flooding
JOHNSON CITY — Ollie’s Bargain Outlet, which closed its Johnson City store during last fall’s flooding after just a month in business, will reopen the
NBT unit, Mang Insurance, makes acquisition
NORWICH — NBT Bancorp, Inc. subsidiary Mang Insurance Agency, LLC has acquired Harvey-Triumpho Insurance Agency of Fort Plain (Montgomery County). Going forward, the agency will
Upcoming conference focuses on small-business diversity, resources
BINGHAMTON — In an Internet age, owners of new and emerging businesses have a lot of information at their fingertips, but entrepreneurs often don’t know
Health-care employers face tough time finding qualified workers
Health-care providers continue to struggle to find skilled candidates or job openings, particularly specialized, technical positions. More than 37 percent of health-care employers have jobs
Peoples 4th-quarter profit slips, but annual earnings rise
HALLSTEAD, Pa. — Peoples Financial Services Corp. (Ticker: PFIS) recently reported that its profit in the fourth quarter fell from a year ago. But that
Binghamton University named a top value among public colleges
BINGHAMTON — The Princeton Review named Binghamton University the nation’s number four “Best Value Public” college for 2012. The Massachusetts–based education-services company profiles Binghamton University in its newly published book, “The Best Value Colleges: 2012,” and on its website www.princetonreview.com/best-value-colleges.aspx. In the profile of Binghamton, the editors at The Princeton Review praised the school for
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BINGHAMTON — The Princeton Review named Binghamton University the nation’s number four “Best Value Public” college for 2012. The Massachusetts–based education-services company profiles Binghamton University in its newly published book, “The Best Value Colleges: 2012,” and on its website www.princetonreview.com/best-value-colleges.aspx.
In the profile of Binghamton, the editors at The Princeton Review praised the school for its “top-tier academics and palatable sticker price,” and noted that in quotes from student surveys, the university is described as a place where students save money while getting an “amazing education.”
“We commend Binghamton University and all of the extraordinary colleges on our 2012 ‘Best Value Colleges’ list for all they are doing to keep costs down and/or offer generous aid to applicants with financial need — all while maintaining excellent academic programs,” said Robert Franek, Princeton Review’s senior vice president/publisher and lead author of the book.
“The Best Value Colleges,” 2012 Edition, subtitled “The 150 Best Buy Colleges and What It Takes to Get In,” features profiles of 75 public and 75 private colleges with detailed information about campus culture, facilities, and financial-aid offerings. Of the 75 schools in each group, the top 10 colleges are ranked with the remaining 65 listed in alphabetical order.
The Princeton Review selected its “Best Value Colleges” based on institutional data and student-opinion surveys collected from 650 colleges and universities the company regards as the nation’s best undergraduate institutions. The selection process analyzed more than 30 data points broadly covering academics, cost, and financial aid.
O’Brien & Gere plans to double work force in Charleston office
SYRACUSE — The acquisition of Lindbergh & Associates of Charleston, S.C. will help Syracuse–based O’Brien & Gere continue to grow its work with the federal government in the Southeast and elsewhere, company leaders say. O’Brien & Gere acquired the remaining 55 percent ownership stake of Lindbergh in December. The firm previously owned 45 percent, with
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SYRACUSE — The acquisition of Lindbergh & Associates of Charleston, S.C. will help Syracuse–based O’Brien & Gere continue to grow its work with the federal government in the Southeast and elsewhere, company leaders say.
O’Brien & Gere acquired the remaining 55 percent ownership stake of Lindbergh in December. The firm previously owned 45 percent, with Lindbergh President Tony Price owning the rest.
The companies first began working together on some joint projects in 2003. Over the years, O’Brien & Gere made a series of investments in Lindbergh, says Lee Davis, O’Brien & Gere president and chief operating officer.
O’Brien & Gere was looking to ramp up its business with the federal government and Lindbergh had a strong base of federal work, Davis says. The plan was for O’Brien & Gere to acquire Lindbergh in full once Lindbergh grew larger.
O’Brien & Gere leaders decided to pursue more federal work as the firm’s state and local government clients were facing stiff budget pressures. And while the federal budget faces its own fiscal challenges, the government remains an enormous potential customer, according to the company.
Also, O’Brien & Gere’s overall share of the federal market is small, leaving plenty of room to expand, company leaders have said.
O’Brien & Gere now has 40 employees in its 8,000-square-foot Charleston office and about two-thirds of them are from Lindbergh, says Richard Garcia, senior vice president and general manager of the Charleston office. The firm plans to double the work force in that office in the next two to three years, Davis adds.
When O’Brien & Gere first opened in Charleston in 2003, it employed one person in the market. Lindbergh had three employees at the time.
Lindbergh was founded in 1982. It provides planning, design, and management services for federal, state, municipal, and commercial clients throughout the U.S. Services include architecture, interior design, landscape architecture, structural engineering, land surveying, civil engineering, master planning, and construction management.
O’Brien & Gere provides a range of engineering and other services. The firm employs 850 people at 30 offices throughout the country.
O’Brien & Gere will continue to use the Lindbergh brand, along with its own name, in the Charleston market for some time, Davis says. Lindbergh has a strong reputation in the region as well as in the federal market.
Charleston is a key location for O’Brien & Gere, Davis says, and serves as the hub for the firm’s federal business in the Southeast. The city’s port is planning a major expansion to accommodate larger ships, which should provide plenty of opportunities for industrial and commercial work as well, he notes.
The Navy and the Air Force both have a strong presence in the region, Garcia adds. And while Lindbergh has been focused mainly on the federal sector in the past, it will now be able to expand into other O’Brien & Gere business areas like water, energy, and environmental projects.
The two firms have worked together on more than 1,000 projects since they first teamed up, Garcia says. They have worked throughout the Southeast and elsewhere, including on a wastewater study for West Point.
The addition will bolster O’Brien & Gere’s business in other regions, Davis says. Lindbergh’s resources should aid projects with clients like Fort Drum and the Department of Veterans Affairs.
SYRACUSE — It started as a casual encounter at a Syracuse Chiefs game, but the end result is the merger of two established Central New York accounting firms — a move that expands the scope of expertise at both firms. D’Arcangelo & Co., LLP, based in Utica, and Syracuse–based Kruth, Stein, Squadrito, Liberman & Silverman,
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SYRACUSE — It started as a casual encounter at a Syracuse Chiefs game, but the end result is the merger of two established Central New York accounting firms — a move that expands the scope of expertise at both firms.
D’Arcangelo & Co., LLP, based in Utica, and Syracuse–based Kruth, Stein, Squadrito, Liberman & Silverman, LLP (KSSL&S) merged operations under the D’Arcangelo name effective Jan. 1. Terms of the deal were not disclosed.
“D’Arcangelo has been desirous of having a physical presence in Syracuse,” Practice Manager Diane Fowler says of the merger. The firm wasn’t necessarily actively seeking a merger, but when some partners from D’Arcangelo bumped into some partners from KSSL&S at a baseball game in the summer of 2011, the conversation started flowing.
The merger just made sense on several levels, Fowler says. D’Arcangelo already has a client base in Syracuse.
“Some of the largest clients we have are Syracuse–based,” she notes. Merging with KSSL&S now gives D’Arcangelo an office at 401 N. Salina St.
The second way the merger makes sense is through the complementary nature of the two accounting firms.
“Their clientele is more focused in the area of taxes and small business,” Fowler says of KSSL&S. D’Arcangelo has strength in audits, human-resources consulting, insurance services, and investment management. “We expect to complement their practice,” with those services, Fowler says.
Julius J. Kruth founded KSSL&S in 1950. “We found that because of the two firms’ similar cultures, our core values, and our shared emphasis on the role of the partner, the combination of partner and staff talent from all offices would provide benefits such as staff synergy, expanded use of technology, overhead reduction, niche practice creation, and expanded services,” Managing Partner Sheldon Kruth said in a news release.
D’Arcangelo, founded more than 60 years ago, has a strong niche-based practice in the areas of ERISA (Employee Retirement Income Security Act) and with governmental auditing.
“D’Arcangelo and Co., LLP can offer any and every client the qualifications, service, and experience of a large firm, but at small firm rates,” Managing Partner Mark Semo said in a news release about the merger. “Our partners are hands-on, in the trenches daily on behalf of our clients, and we believe that it’s this level of service that sets us apart from other firms.”
“We have significant depth in tax already, but their focus in tax and small business will even add to that more,” Fowler notes of how KSSL&S will benefit D’Arcangelo.
“It’s a great partnership between the two firms,” she says. “”We’re very excited about our future in Syracuse.”
D’Arcangelo retained all 25 employees at KSSL&S and they joined D’Arcangelo’s more than 150 employees at locations in Utica, Rome, Oneida, Poughkeepsie, Millbrook, and Westchester.
To market the newly merged firms, Fowler says the company has done print advertising with numerous publications including The Mohawk Valley Business Journal and The Central New York Business Journal, the Syracuse Post-Standard, the Rome Sentinel, the Rome Dispatch, and the Utica Observer-Dispatch. The firm is also sponsoring the show “Financial Fitness,” airing Thursday nights on WCNY to further get its name out there.
“We’ve been reaching out to all of our clients,” Fowler adds. The firm is also sending letters to prospective clients.
Fowler declined to share client figures or growth projections for the firm.
“We just know that this is going to provide a big opportunity for us, and we’re excited to see where it goes,” she says.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.