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ConMed to pay 1st quarter dividend of 20 cents on April 5
ConMed Corp. (NYSE: CNMD), a surgical-device maker started in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the first quarter of the year. The dividend is payable on April 5 to all shareholders of record as of March 15. ConMed manufactures […]
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ConMed Corp. (NYSE: CNMD), a surgical-device maker started in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the first quarter of the year.
The dividend is payable on April 5 to all shareholders of record as of March 15.
ConMed manufactures surgical devices and equipment for minimally invasive procedures. The company’s products are used by surgeons and physicians in specialties that include orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.
The company in late January reported sales of $274 million in the fourth quarter of 2021, up more than 8 percent from the year-ago quarter. ConMed produced sales of $1.01 billion for the full-year 2021, up over 17 percent from 2020.
ConMed, which was headquartered in the Utica area for 50-plus years, at the beginning of 2021 designated Largo, Florida (the Tampa Bay area) as its corporate headquarters. Its Utica–area facility is located at 525 French Road in New Hartford, where the company continues to maintain its manufacturing, finance, human resources, legal, and other corporate functions. The Florida office houses its CEO and other key executives.
Jefferson County hotels post 12% rise in occupancy in January
WATERTOWN — More guests stayed overnight in hotels in Jefferson County in January compared to the year-ago month, continuing the hospitality industry’s comeback from the pandemic, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 12 percent to 32.2 percent in the first month
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WATERTOWN — More guests stayed overnight in hotels in Jefferson County in January compared to the year-ago month, continuing the hospitality industry’s comeback from the pandemic, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 12 percent to 32.2 percent in the first month of 2022, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, climbed 24.5 percent to $30.24 in January compared to a year prior.
Average daily rate (or ADR), which represents the average rental rate for a sold room, went up 11.1 percent to $94.02 in January from the same month in 2021.
This was the 11th straight strong monthly hotel-occupancy report for Jefferson County. These are the first 11 months in which the year-over-year comparisons were to a month hindered by the COVID pandemic. The 12 reports before that each featured double-digit declines in occupancy as the comparisons were to a month before the pandemic started.
Five Star Bank parent company increases quarterly dividend by more than 7 percent
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is boosting its quarterly dividend by 7.4 percent. The banking company will pay a quarterly cash dividend of 29 cents per common share outstanding for the first quarter of this year, up from the 27 cents a share it
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is boosting its quarterly dividend by 7.4 percent.
The banking company will pay a quarterly cash dividend of 29 cents per common share outstanding for the first quarter of this year, up from the 27 cents a share it paid for the fourth quarter of last year.
Financial Institutions said it will pay the new, higher dividend on April 4, to shareholders of record on March 18.
“Following strong earnings performance in 2021, this 7.4% increase in the common stock dividend reflects our Board’s confidence in the Company’s strategy and earnings potential,” Martin K. Birmingham, Financial Institutions’ president and CEO, said in a Feb. 17 statement. “Today’s announcement represents our 12th consecutive annual dividend increase. This increase, and an ongoing share repurchase program, demonstrate our continued commitment to shareholder return.”
At the banking company’s current stock price, the new dividend yields about 3.7 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has more than 45 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Seneca Falls, Geneva, Ovid, Horseheads, and Elmira.
Financial Institutions and its subsidiaries employ about 600 people.
Del Lago Resort & Casino’s new owner to be in place by year-end
The company that operates del Lago Resort & Casino is expected to have a new owner by the end of 2022. Churchill Downs Inc.(CDI) (NASDAQ: CHDN) plans to acquire “substantially all” of the assets of Richmond, Virginia–based Peninsula Pacific Entertainment LLC (P2E) for nearly $2.5 billion. Del Lago is visible from and located just off the
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The company that operates del Lago Resort & Casino is expected to have a new owner by the end of 2022.
Churchill Downs Inc.(CDI) (NASDAQ: CHDN) plans to acquire “substantially all” of the assets of Richmond, Virginia–based Peninsula Pacific Entertainment LLC (P2E) for nearly $2.5 billion.
Del Lago is visible from and located just off the New York State Thruway in the town of Tyre in Seneca County.
Louisville, Kentucky–based CDI owns horse-racing tracks, casinos, and online-wagering platforms. It is most known for operating the Kentucky Derby and the Churchill Downs racetrack where the world-famous horse race is held annually.
CDI will acquire all of P2E’s assets in New York and Virginia, as well as the operations of its Sioux City, Iowa casino property.
The P2E transaction is dependent on usual and customary closing conditions, including the company obtaining approvals from the New York State Gaming Commission, the Virginia Racing Commission, and the Iowa Racing and Gaming Commission.
The transaction is expected to close by the end of 2022, per a news release on the CDI website.
“This unique set of assets expands our geographic footprint and provides additional scale,” Bill Carstanjen, CEO of CDI, said. “P2E has done an exceptional job developing and managing this collection of assets, which we are very excited to acquire and plan to strategically grow in the years ahead.”
Del Lago is among the properties that CDI will acquire in this deal. It’s a 96,000-square-foot casino with about 1,700 slot machines, 80 table games, a 205-room hotel, nine restaurants / bar areas, 758 covered parking spaces, a 6,000-square-foot sportsbook area, a 2,400-seat entertainment venue, and a 7,200-square-foot outdoor event venue.
Bergh begins leading Cazenovia College minus interim tag
CAZENOVIA — The Cazenovia College board of directors has decided that the man it chose as interim president should also be its pick to lead the school moving forward. The board, in the last weekend of February, removed interim from David Bergh’s title, making him Cazenovia College’s 30th president. He served in the interim role
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CAZENOVIA — The Cazenovia College board of directors has decided that the man it chose as interim president should also be its pick to lead the school moving forward.
The board, in the last weekend of February, removed interim from David Bergh’s title, making him Cazenovia College’s 30th president.
He served in the interim role since mid-January, following the retirement of previous school president Ron Chesbrough.
The move reflects the trustees’ “utmost confidence” in the professionalism, skills, values, ideas, and energy of Bergh and in his ability to lead the school’s next phase of growth, Kenneth Gardiner, chair of the board of directors, said in a Feb. 28 news release. It will include a “re-imagining of the college’s future” and the development of additional revenue streams to support the institution’s financial position, he added.
“We quickly recognized that in Dr. Bergh, we already had in place an experienced, proven leader and the right person to head the College for these times,” Gardiner said. “He knows this institution and understands what we’re about. He has the intellectual, executive, and visionary capacities needed to pave new paths to growth and to entertain new ideas to cement long-term stability. He has been integral to critical initiatives such as long-term strategic planning, relationship-building with financial backers, bond refinancing, and Middle States Commission on Higher Education re-accreditation. He is also already part of and is well-known and respected in the Cazenovia community. We’re ready to have Dr. Bergh’s energy and vision permanently move the College forward on several key endeavors.”
Bergh has more than 25 years of experience in higher-education leadership and administration. He has been at Cazenovia College for the past six years, spending the previous two years as the college’s executive VP. He also previously was VP for planning and institutional effectiveness for almost four years, the school noted.
In his time at Cazenovia, the college says Bergh revised its governance structure and developed and implemented its institutional strategic plan.
He previously oversaw operations for several departments, including admissions, institutional research and assessment, human resources, athletics and recreation, the Equine Education Center, and the Catherine Cummings Theatre.
He has also served as the college’s accreditation officer, as co-chair of its self-study process for Middle States Commission on Higher Education accreditation, and as a member of the college’s Commission on Equity, Diversity, and Inclusion.
In addition, he established the Center for Entrepreneurship and Community Development and earned recognition for the college from NYSERDA (New York State Energy Research and Development Authority) for advancing clean-energy initiatives.
Saab to add 20 jobs in DeWitt after Navy contract award
DeWITT, N.Y. — Saab, Inc.’s DeWitt operation will be adding more than 20 “well-paying” jobs as it handles work on a U.S. Navy contract to help make improvements to its electronics and radar systems. That’s according to the office of U.S. Senate Majority Leader Charles Schumer (D–N.Y.). The contract will allow Saab to transfer technology
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DeWITT, N.Y. — Saab, Inc.’s DeWitt operation will be adding more than 20 “well-paying” jobs as it handles work on a U.S. Navy contract to help make improvements to its electronics and radar systems.
That’s according to the office of U.S. Senate Majority Leader Charles Schumer (D–N.Y.).
The contract will allow Saab to transfer technology from Sweden and expand its presence in Central New York, adding the 20 jobs with the possibility of up to 50 high-tech jobs with “future support of the partnership,” Schumer’s office said.
The majority leader secured $15 million in the fiscal year 2021 budget for the Navy to develop near-term digital-radar products to close existing and future capability gaps. As a result of the funding, the Navy selected Saab’s all digital radar technology (ADRT) to “accelerate the adaptation” of this low-cost microelectronic technology, “increasing joint force readiness and effectiveness at responding to threats,” the Democrat’s office said.
Based in DeWitt, Saab Defense and Security USA focuses primarily on the U.S. market and customer base.
“As a Syracuse–based company, we look forward to delivering this next generation technology to the U.S. Navy and continuing to grow our partnership,” Erik Smith, president and CEO of Saab, said. “I want to thank [Senator] Schumer for his leadership on this issue. His continued support of Saab in Central New York is instrumental to our continued success. Our entire Central New York delegation does an outstanding job of helping us create more jobs through new foundational programs like ADRT.”
This announcement comes after Schumer declared in 2021 that he had secured $7 million in the fiscal year 2020 budget supporting Saab’s advanced missile and fire-control system to help make improvements to Navy combat ships, creating 50 high-tech jobs in Central New York.
The senator explained that the Navy and Marine Corps’ electronics systems must continually be updated to accommodate increasing information flow, tracking, and so troops can be better prepared for rapidly emerging threats. This announced funding will allow the Office of Naval Research to conduct an all-digital radar technology, advanced-technology demonstration and test Saab’s system and technology against advanced emerging-threat simulations.
The project will expand Saab’s previous investments in advanced digital and radio-frequency technologies and packaging to build a prototype system in the U.S., Schumer’s office said.
Saab has “invested significantly” to develop its all-digital radar technology, leveraging 5G-technology developments. Saab’s work will be facilitated by transferring technology from Sweden to the U.S., “saving taxpayers’ money on costly development programs while supporting” high-tech jobs in Central New York.
The technological improvements to radar from this program would allow the Navy to be better prepared for incoming threats and able to process information in a “quicker, more sophisticated” manner, according to Schumer.
Saab acquired DeWitt–based Sensis Corp. in 2011 and split the corporation into two units — Saab Defense and Security on Enterprise Parkway and the Saab Sensis air-traffic management unit at 85 Collamer Crossing Pkwy.
CEO FOCUS: Connect with Community Talent via the Surge Career Navigator
We frequently hear from members that finding talent is a challenge. Following nearly a decade of work convening partners around solutions, CenterState CEO’s Work Train is uniquely situated to help employers connect with job seekers in the community. Through Syracuse Surge, we have been collaborating with employers and community partners to help establish several training programs to
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We frequently hear from members that finding talent is a challenge. Following nearly a decade of work convening partners around solutions, CenterState CEO’s Work Train is uniquely situated to help employers connect with job seekers in the community. Through Syracuse Surge, we have been collaborating with employers and community partners to help establish several training programs to prepare our local workforce for in-demand jobs in tech. We have also been building a robust network of talent through Tech and Culture. But the successful completion of these programs by participants is just the first step in connecting them to targeted opportunities within the business community.
The work of CenterState CEO’s Surge Career Navigator Cainaan Webb is also critical to the success of these efforts. Cainaan works with job seekers of all levels to identify their career goals, skills, and the supports they need to apply for local jobs. He then assists them to network with employers and navigate the process from application to accepting job offers.
Additionally, Cainaan is working to understand the hiring needs of local employers so he can serve as a liaison between employers and job seekers, connecting the right people to the right opportunities. By establishing stronger relationships with recruiters and human-resource managers, Cainaan is working to create equitable pathways for diverse talent to enter the tech industry. Through this robust ecosystem of training, career support, and networking, we are developing a necessary pipeline of talent in our region, while at the same time, supporting businesses as they seek to grow and expand operations.
I encourage you or your hiring or human-resource manager to contact Cainaan directly at cwebb@centerstateceo.com if you are looking for new ways to engage untapped talent from within our own community.
Robert M. Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This article is drawn and edited from the “CEO Focus” email newsletter that the organization sent to members on March 3.
Outgoing Clarkson president, wife honored with campus name
POTSDAM, N.Y. — The president of Clarkson University will conclude his tenure at the end of this academic year and the school has added his name to a portion of the Potsdam campus. The school’s board of trustees has named Clarkson University’s hill campus in Potsdam “The Collins Hill Campus” in honor of Tony Collins
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POTSDAM, N.Y. — The president of Clarkson University will conclude his tenure at the end of this academic year and the school has added his name to a portion of the Potsdam campus.
The school’s board of trustees has named Clarkson University’s hill campus in Potsdam “The Collins Hill Campus” in honor of Tony Collins and his wife, Karen Collins.
Commemorative signage and usage of the Collins Hill Campus recognizes Collins’ 19 years as school president. It also acknowledges the contributions that both he and his wife have made to the greater Clarkson community since coming to Potsdam in 1982.
Tony Collins, who has served as president of Clarkson University since 2003, will step down as Clarkson’s 16th president at the conclusion of this academic year. A Clarkson faculty member since 1982, Collins has worked for and supported economic development in the North Country and throughout New York state and is described as a “national advocate” for higher education, per a Clarkson release.
“President Collins established the vision for the renovation and expansion of the hill campus, which has been realized over the last two decades through his exceptional leadership and fundraising efforts,” Thomas Kassouf, chair of the Clarkson University board of trustees, said. “Our resolution and decision to officially name the hill campus acknowledges the supportive and engaging student environment unceasingly nurtured by Tony Collins and Karen Collins.”
Under Collins’ leadership, the Vision of a Clarkson Education and Clarkson@125 have “guided strategic initiatives which have been substantially realized over almost two decades,” per the release.
Clarkson’s Potsdam hill campus has been expanded both “physically and in academic reach,” while the downtown campus has been “repurposed to advance interdisciplinary entrepreneurship,” the school said.
Outside Potsdam, Clarkson has expanded geographically in recent years, with new graduate and professional programs accessible at its Capital Region campus in Schenectady and at the Beacon Institute for Rivers and Estuaries on Dennings Point.
VIEWPOINT: Ask Rusty: Do Medicare Part A and B Backup My Medicare Advantage Plan?
Dear Rusty: I was told that I can use Medicare Parts A and B as secondary coverage to my Medicare Advantage plan. Is that true? Signed: Puzzled Dear Puzzled: Many do not understand how the various parts of Medicare work, and especially how or if “original Medicare” (Medicare Part A and Part B) interacts with
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Dear Rusty: I was told that I can use Medicare Parts A and B as secondary coverage to my Medicare Advantage plan. Is that true?
Signed: Puzzled
Dear Puzzled: Many do not understand how the various parts of Medicare work, and especially how or if “original Medicare” (Medicare Part A and Part B) interacts with a Medicare Advantage plan. If you now have a Medicare Advantage plan, it is the private insurer that provides your plan that administers all of your health-care needs, instead of the federal-government agency which runs Medicare (that federal agency is called the Centers for Medicare & Medicaid Services, or CMS).
Although you must pay Medicare Part A and Part B premiums to the federal government to obtain a Medicare Advantage plan, all your health-care services are handled by the private Medicare Advantage plan provider and not by the government’s CMS agency. When you have an Advantage plan, Medicare Parts A and Part B do not act as secondary coverage for your Advantage plan. You don’t get health-care services from both, because when you choose a Medicare Advantage plan you are deselecting CMS as the administrator of your health-care needs.
Deciding whether to use “original Medicare” to administer your health-care services or to use a Medicare Advantage plan is always a personal choice. Medicare Advantage plans cover almost all the medically necessary services that original Medicare covers, although you must generally use “in-network” providers to obtain full coverage. But if you incur health-care expenses that are not covered by your Medicare Advantage plan, you must pay them yourself — federal Medicare Parts A and Part B are not backup coverage for those uncovered health-care expenses. So, what you were told is incorrect — Medicare Part A and Part B do not function as secondary coverage to your Medicare Advantage plan.
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4 million member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.
CNY SHRM names board officers for 2022
SYRACUSE, N.Y. — The Central New York Society for Human Resource Management (CNY SHRM) board of directors has elected the following officers for 2022. President: Iolanda Cooper, employee advocate, Wegmans Food Markets. Cooper has more than 22 years of human-resources experience with specialization in talent management including workforce planning, recruiting, performance management, employee development, and
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SYRACUSE, N.Y. — The Central New York Society for Human Resource Management (CNY SHRM) board of directors has elected the following officers for 2022.
President: Iolanda Cooper, employee advocate, Wegmans Food Markets. Cooper has more than 22 years of human-resources experience with specialization in talent management including workforce planning, recruiting, performance management, employee development, and employee engagement. As a Wegmans employee advocate, she is responsible for working with the management team in implementing training, recruiting, performance management, employee engagement, compliance, worker’s compensation, benefits, and more, according to a CNY SHRM news release.
Vice President: James Branche, human-resources manager, United Radio. Branche has 12 years of human-resources experience including recruiting, retention, benefits, recognition, and HR policy. He has been involved with several community service projects in recent years.
Secretary: Caprice Reader, senior human-resources consultant, GTM Pinnacle’s Central New York Region. Reader has more than 10 years of diverse HR experience and is a subject-matter expert in the areas of HR compliance and best practices, HR infrastructure and policy, and procedure development. In addition, she is well-versed in the areas of employee relations, workplace investigations, mediation and conflict resolution, and training and development.
Treasurer: Jay Jerose, principal, The Bonadio Group. Jerose is a member of Bonadio’s small business advisory team. His practice focuses on closely held businesses and startups, particularly in the areas of tax compliance, attest services, consulting, and business-valuation services.
CNY SHRM was founded in 1974 and has more than 500 members. As an affiliate of the Society for Human Resource Management (SHRM), the chapter exists to provide a wide variety of professional development and networking opportunities for HR professionals in the greater Syracuse area.
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