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Oswego Health recognizes doctors as community leaders
OSWEGO, N.Y. — Oswego Health recently honored a pair of doctors for their work and dedication to the community. The health system presented Dr. Robert Morgan with the 2020-21 Health System Champion Award for his dedication and commitment to not only his patients and the area community, but also for being such an advocate for […]
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OSWEGO, N.Y. — Oswego Health recently honored a pair of doctors for their work and dedication to the community.
The health system presented Dr. Robert Morgan with the 2020-21 Health System Champion Award for his dedication and commitment to not only his patients and the area community, but also for being such an advocate for the organization.
Morgan’s career started at Oswego Hospital when he was just a teenager working in the hospital lab. He later went on to pursue his medical degree in 1983 from Upstate Medical University in Syracuse. In 1985, Morgan returned to Oswego Hospital and served as an emergency-room physician before completing his family-practice residency at St. Joseph’s Hospital in Syracuse 1986.
Morgan has been a part of the Oswego community as a family practice provider for 36 years and a part of the medical staff since 1986. His passion for helping others extends far beyond his practice walls. Oswego Health said in a news release. Dr. Morgan is actively involved with the Maritime Museum; he serves as medical director for the Oswego, Hannibal, and Fulton School Districts as well as CiTi BOCES; and he and his wife Anne volunteer countless hours every year to many local nonprofits.
In October 2018, Oswego Health welcomed Morgan’s Oswego Family Physicians to the Physician Care PC, serving as the model practice as it continues to expand its primary care footprint throughout the county.
Oswego Health presented its Community Physician Award to Dr. Corliss A. Varnum, The award recognizes a dedicated physician whose skills in their clinical practice align with the mission, vision, and values of Oswego Health.

Varnum was honored for his dedication to the Oswego community. The doctor “is personable, honest, dedicated, and present for his patients,” Oswego Health said in the release. “It’s evident in the long hours he keeps, the time spent on individualized care, and the relationships he’s built throughout the years.”
Born in the Catskills, Dr. Varnum first called Oswego “home” when he attended SUNY Oswego in 1979 to earn his bachelor’s degree in chemistry. He then pursued his medical degree and graduated with honors from New York Medical College in 1983. Varnum completed an internship with Lancaster General Hospital in 1984 as well as a family practice residency in 1986.
Returning to Oswego, Dr. Varnum was eager to begin practicing family medicine and in 1987 established his first practice. This practice was originally an office building on West Utica Street, which he shared with Dr. Selma Sheridan. Shortly thereafter, he built Port City Family Medicine, “a staple practice in Oswego for countless residents and families over the years,” the health system said.
The two doctors’ awards were part of three Oswego Health made as part of its planned 3rd annual Oswego Health Foundation Gala, where it recognizes local leaders including physicians and business partners who demonstrate a commitment to improving the community and its residents. The gala was postponed due to COVID-19, but Oswego Health still presented the awards to the winners at their respective facilities. The third honor was the Community Partner Award, which went to Pathfinder Bank.
VIEWPOINT: 5 Tips to Help Block Blue Light in a More Remote World
As a result of the COVID-19 pandemic, the use of digital devices has surged significantly as people spend more time at home, with Americans logging an average of 13 hours per day watching screens. That compares to between seven and 10 hours per day before the pandemic started, with the increase in screen time likely contributing to
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As a result of the COVID-19 pandemic, the use of digital devices has surged significantly as people spend more time at home, with Americans logging an average of 13 hours per day watching screens. That compares to between seven and 10 hours per day before the pandemic started, with the increase in screen time likely contributing to more exposure to blue light.
While this low-wavelength, high-energy light offers some benefits, such as boosting alertness and elevating moods, too much of it may cause problems. Researchers continue to evaluate the potential short-term and long-term health implications that may come from excessive exposure to blue light, including potential damage to retina cells, particularly in children and teens; increased incidences of age-related macular degeneration; disrupted sleep cycles; and digital eye strain.
Here are five eye-health tips to consider as the consistent use of digital devices remains a fact of life for people of virtually all ages:
Look for warning signs of digital eye strain. Nearly 60 percent of U.S. adults report experiencing symptoms of digital eye strain, which may result from extended computer and smartphone usage and can contribute to dry eyes, headaches and neck or shoulder pain. For parents, it is important to look out for digital eye strain and other signs of vision problems, as children may not be aware and won’t complain if their eyesight isn’t normal. Red flags may include squinting while reading or watching television, or difficulty hitting or catching a ball while playing sports. These issues can indicate an underlying vision problem that might require glasses or other treatments from an eye-care professional.
Set screens at a proper distance. Many people find it comfortable to view a screen while looking slightly downward — a few inches below eye level — while maintaining the device at least 30 inches from their eyes, as this separation can help reduce blue light exposure. Keeping this distance is especially important for children, as young people often hold digital devices closer to their faces than adults do, thus potentially leading to a higher amount of blue light. For people with computer-based jobs, it may be helpful to place reference documents, so their head does not need to be repositioned to see them, such as above the keyboard, below the monitor, or on a document holder.
Use the 20-20-20 rule or other rest tactics. It is important for people to give their eyes some rest during the day by breaking up long stretches of screen time. The 20-20-20 rule recommends that after 20 minutes of computer work, people take 20 seconds to look at something that is about 20 feet away. Another strategy is to switch to a task for which their eyes don’t have to focus on something up close, such as returning a call, connecting with a co-worker, or taking a walk. Also, getting outside and away from digital screens may reduce the risk of developing nearsightedness, which has become increasingly common in part due to the increased use of screens, and today affects 41 percent of Americans — up from 25 percent in 1970.
Leverage blue-light-blocking technology. Many smartphones now include a “night mode” feature, which adjusts the screen’s setting to help filter out blue light. Likewise, specialized screen protectors can feature blue-light-filtering properties, while also helping prevent cracks or scratches. To help block blue light at the source, some computer manufacturers are embedding blue-light-filtering technology into the screens, helping ensure color clarity while reducing exposure to blue light. Another option is to get glasses with premium anti-reflective coating, which may help prevent harmful reflective glare and reduce the risk of digital eye strain.
Get a comprehensive eye exam. It’s a good idea for computer users to get an eye exam every year, according to the American Optometric Association. If people experience ongoing symptoms of digital eye strain, prescription lenses for computer viewing may be needed. Plus, a comprehensive eye exam may uncover other health conditions not usually associated with the eyes, including diabetes and even some types of cancer. For children, it’s important to remember that a school’s vision check is not a substitute for a comprehensive eye exam, as screenings usually focus on measuring acuity levels and might miss common conditions such as poor eye alignment, focusing problems and farsightedness.
As we contend with the ongoing pandemic and transition to an increasingly virtual world, considering these tips can help people maintain or improve their eye health as part of an overall focus on whole-person well-being.
Dr. Scott Edmonds is chief eye care officer at UnitedHealthcare.
I live like a caveman. Despite my modern home, two cars, multiple technological devices, and a nice wardrobe, I am no more than a fancy mammal — granted, one who doesn’t have to kill what my family eats, thanks to Wegmans. But human mammals have always, according to many scientific theories, processed 60,000-80,000 thoughts per day, many of
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I live like a caveman. Despite my modern home, two cars, multiple technological devices, and a nice wardrobe, I am no more than a fancy mammal — granted, one who doesn’t have to kill what my family eats, thanks to Wegmans. But human mammals have always, according to many scientific theories, processed 60,000-80,000 thoughts per day, many of them — even today — based in fear.
From homo erectus creating spoken language to the more recent homo sapiens advancing both spoken and then written language, a persistent theme has emerged: fear, reflecting in and creating innate negative bias. Our language has been largely disempowering, and most of our thought processes haven’t changed in millennia. From the days of the caveman, it seems that fear is often our default emotion
To be clear, this negative bias isn’t bad; it’s been an essential survival mechanism allowing us to roam and populate the earth. However, in all its survival greatness, it is limiting the way we think, and therefore limiting our behaviors and potential.
Psychological barriers, often referred to as “limiting beliefs,” are thoughts we hold that keep us safe. Whether you believe in creationism or evolution, these beliefs were either intelligently designed or evolved to keep us safe and alive, ensuring the best potential for our genes to move forward in time (that’s another way of saying that we’d live long enough to reach sexual maturity and reproduce.)
If you’re not excited about living life through this disempowering thought process, you’re not alone. Here’s where it gets interesting and lucrative. The “self-help” market value in the U.S. was reported to be valued at $11.6 billion in 2019. That’s only about 2 billion shy of the U.S. “erotic entertainment” industry. One way or another, we spend a lot of money trying to feel better.
The amount of money we spend is one way to measure the interest in a product, service or market; another way is to pay attention to trends. Year over year, the number of leadership, management, employee engagement, and business-effectiveness book titles increased 11 percent from the years 2013-19. There are just under 20,000 certified coaches in 114 countries, according to the International Coaching Federation, the largest and most reputable coaching-certification establishment.
Yet we’re evidently still mired in that negative bias. We’re still polarized by topics like politics, religion, and sex. We’re fighting over who is right or wrong, we’re distributing money inequitably, and we’re hoarding resources like vaccines and food stocks.
And if that underlying cause of the negative bias is fear, I also believe that such fear, while primal, has shifted to somewhat of a secondary emotional response for most contemporary humans. My theory is that we are constantly grappling for control and are not adept at letting go or getting out of the way.
When the stakes are high or we are feeling anxious or deeply concerned about something, our confidence and optimism might not be as readily available as we’d like. This is going to sound like “coach blasphemy,” but far too many coaches provide shallow “arm-chair psychology” that results in false confidence. Many people set goals — goal setting can work — but I find that in times of greater concern, setting a goal is like wearing a raincoat into a Class 5 hurricane. It’s just not going to hold up to the pressures and demands of the situation, and you’re going to get wet.
I have written about the problems with goal setting in the past, but I’m going to now suggest that Tim Ferris may have the better idea: fear setting.
Fear setting allows us to get out of our own way by facing the worst-case scenario, releasing or surrendering control by planning for that worst-case situation. The idea is not to manifest the fear into reality but rather to be ready for it in case it occurs, which, in reality, it rarely does.
The ancient saying of “It’s better to be a warrior in a garden in times of peace than a gardener in a battlefield in times of war” holds true. The execution of performance requires the warrior in all of us, and that means preparing and releasing control and knowing you are truly ready for anything that comes.
As we fear set, as we clarify the greater fear we are having in a situation, we come to learn that there are probably many more likely scenarios that will occur than the greater fear. The key to fear setting is that we can then plan for the most-likely outcomes and shift our attention and energy to creating something even better.
When I was in my mid-20s, I found myself struggling with control and sought the guidance of a spiritual counselor. He shared a story about the capturing of monkeys for the illegal exotic-pet trade, and it stays with me every day almost three decades later. Do you know how they catch monkeys? It’s simple, and I’m prone to the same dynamic — and you may be, too:
The captor sets up a large clear jar with a small piece of bait in it, usually a piece of fruit. The jar’s lid is prepared with a slit cut into it that allows the monkey’s hand to pass through to grab the fruit but does not allow his fisted hand with the fruit to exit the jar. The monkey becomes so enthralled with his dilemma that his anxiety causes him to try harder and harder. The monkey will literally watch his captor approach him and scoop him up because he won’t let go of the fruit. He can’t get out of his own way.
What is your jar of fruit? As this new year rolls on, I encourage you to face it head-on even if it means relinquishing control, because that’s how we can ultimately put our negative biases back where they belong — in the cave.
Bill Berthel is a partner with Emergent, L.L.C., a provider of executive coaching and leadership training, based in Syracuse. Contact him at Bill@GetEmergent.com
OPINION: The Pattern of Government Overreach Continues in Albany
Masks, mandates, and more control New York’s mask mandate for businesses finally ended [on Feb. 10]. On [Feb. 9], Gov. Kathy Hochul lifted an executive order requiring masks to be worn indoors for some places, but she has kept the requirement in place for children in schools. There does not appear to be any scientific explanation
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Masks, mandates, and more control
New York’s mask mandate for businesses finally ended [on Feb. 10]. On [Feb. 9], Gov. Kathy Hochul lifted an executive order requiring masks to be worn indoors for some places, but she has kept the requirement in place for children in schools. There does not appear to be any scientific explanation for the discrepancy despite her continued insistence she is relying on objective data.
Lifting the state’s indoor mask mandate in any capacity is welcome news and makes sense considering the New York Supreme Court has ruled the mandate as an improper overreach of executive power. New York is no longer in a state of emergency, and as such the governor’s powers simply do not necessitate sweeping unilateral action. But why are school kids still required to wear masks while shoppers are not? Something isn’t adding up.
What’s most troubling is the fact that there does not appear to be an end in sight for the school mask mandate and it remains unclear what metrics the administration is using to make its evaluations. During [a recent] budget hearing, Health Commissioner Mary Bassett was unable to provide an answer or estimate when questioned when the school mandate might end. When pressed for details she responded, “We’re watching the numbers and don’t have a date for you.” As states across the country roll back their own mask mandates, “watching numbers” simply isn’t enough for New York’s students and parents.
Further, the governor is planning to make a number of temporary, expiring emergency regulations permanent without legislative approval. This is essentially lawmaking by executive order and flies in the face of basic constitutional separation of powers. I joined my colleagues in the Assembly minority conference in writing a letter expressing those concerns. If Gov. Hochul and her commissioners want to create new laws, they should send bills to the New York Legislature for proper consideration. The regulations in question are of significant consequence, too. Included in these proposals are measures that would:
• Require hospitals and health-care providers to ensure all workers are fully vaccinated as a condition of employment;
• Give the health commissioner the authority to implement mask requirements for all New Yorkers over the age of 2; and
• Allow the department of health and local health departments to issue isolation and quarantine orders for individuals who have been diagnosed or exposed to a highly contagious communicable disease.
As we’ve witnessed before, New Yorkers lose out when any one arm of the government attempts to operate without the others. Gov. Hochul has shown too frequently her propensity to disregard the legislature and dictate the state’s COVID-19 response unilaterally. This isn’t a productive way to govern. Our conference, the state Supreme Court, and countless others recognize that and it’s about time the governor did as well. ν
William (Will) A. Barclay, Republican, is the New York Assembly minority leader and represents the 120th New York Assembly District, which encompasses most of Oswego County, including the cities of Oswego and Fulton, as well as the town of Lysander in Onondaga County and town of Ellisburg in Jefferson County.
OPINION: Navigating the Next Few Years
A few weeks ago, New York Times columnist Thomas Friedman made a startling suggestion. He proposed a cross-party 2024 presidential ticket: Joe Biden and Liz Cheney, perhaps, or Kamala Harris and Mitt Romney, or another combination of a leading Democrat and an anti-Trump Republican. Friedman’s reasoning is that the U.S. is at a crossroads, and he contends
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A few weeks ago, New York Times columnist Thomas Friedman made a startling suggestion. He proposed a cross-party 2024 presidential ticket: Joe Biden and Liz Cheney, perhaps, or Kamala Harris and Mitt Romney, or another combination of a leading Democrat and an anti-Trump Republican.
Friedman’s reasoning is that the U.S. is at a crossroads, and he contends that the main body of the Republican Party “has shown that it isn’t committed any longer to playing by democratic rules, leaving the United States uniquely threatened among Western democracies.” Under these circumstances, he wrote, the country needs a “broad national unity vehicle” that would draw members of both parties. “We all have to be small-d democrats now, or we won’t have a system to be big-D or big-R anythings,” he continued.
To buttress his argument, he turned to Israel’s current national unity government, which united members of the right and left in an effort to turn down the heat generated by former Prime Minister Benjamin Netanyahu’s bid to delegitimize the government and judicial system. As Israeli leaders “treat each other…with a little more respect, and a little less contempt, because they are out of Facebook and into face-to-face relations again, stuff is getting done,” Friedman writes.
It was certainly an attention-getting column, and it’s hard to argue with the idea that we and our democratic system remain in perilous times. It may well be that to avoid a lurch toward authoritarianism, or at least toward a government that willfully violates democratic norms, some dramatic development like Friedman’s suggestion will prove appealing to many Americans.
But looking back at the sweep of American history we also need to keep in mind that our system as it stands now, for all its flaws, has served us remarkably well. For more than 200 years, through some tough times, we have wrestled with the problem of how government should work in a democracy. We’ve persisted through economic turmoil, world wars, a terrible depression, and social and racial tumult. Each time, though the path has at times been harrowing, we’ve adjusted, found common ground, passed legislation that, in general, has made this a fairer and more just nation, and moved forward.
It’s worth remembering that this is a pragmatic country that mostly prefers the middle to the extremes. In a writeup noting that 2021 saw the balance in party identification shift from leaning Democratic toward leaning Republican as the year wore on, Gallup pointed out that, overall last year, “an average of 29 percent of Americans identified as Democrats, 27 percent as Republicans and 42 percent as independents. Roughly equal proportions of independents leaned to the Democratic Party (17 percent) and to the Republican Party (16 percent).” Ours is still an electorate that is most comfortable in the center.
The truth is, it’s impossible to see around the next political corner. Yet if there’s one thing that our centuries of experience with representative democracy tell us, it’s that Americans are fiercely creative about exercising their democratic rights and that when things get out of kilter, they pull the country back on course.
Don’t get me wrong. When Lincoln asked at Gettysburg whether this nation “so conceived and so dedicated” can endure, he was posing a question for all time. Our status as a democracy and as a land of opportunity for all has never been a given, and never will be. Lincoln spoke at a battlefield that was the result of the last time we failed utterly to navigate deep national divisions; the Civil War left such deep scars that we’re still not over them.
Clawing our way back from perilous times to a government in Washington that is capable of “getting things done,” as Friedman put it in his column, will take time, patience, and a willingness to compromise — on both sides of the aisle — that’s been in short supply in recent years. But we’ve done it before. My hope and belief is that we can do it again.
Lee Hamilton, 90, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.

JAMIE T. BOVA, CPA has been admitted into the partnership at Syracuse–based accounting firm Fust Charles Chambers LLP. Bova is a partner in the firm’s audit department. He has more than 13 years of experience providing accounting, audit, and advisory services to many of the firm’s health care, nonprofit, closely held manufacturing, distribution, and retail
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JAMIE T. BOVA, CPA has been admitted into the partnership at Syracuse–based accounting firm Fust Charles Chambers LLP. Bova is a partner in the firm’s audit department. He has more than 13 years of experience providing accounting, audit, and advisory services to many of the firm’s health care, nonprofit, closely held manufacturing, distribution, and retail clients, as well as their employee-benefit plans. Bova received his bachelor’s degree in accounting from the University at Buffalo.
KELLY A. REDMOND, CPA has also been named a partner at Fust Charles Chambers. She is a partner in the firm’s tax department. Redmond has more than two decades of experience providing income-tax planning, compliance, and advisory services to proprietorships, partnerships and corporations, and the owners and executives associated with such entities. She focuses on commercial clients utilizing pass-through entities, such as partnerships and S-corporations. Redmond is also involved in the delivery of tax services to the firm’s nonprofit clients. She received her bachelor’s in accounting from SUNY Oneonta.
ROBERT S. SMITH, CPA has also been admitted into the Fust Charles Chambers partnership. He is a partner in the firm’s audit department. Smith, who joined the firm in 2007, has over 15 years of experience providing audit, accounting, and advisory services to a wide range of Fust Charles’ health care and not-for-profit organization clients, including large health-care systems and governmental entities, as well as closely held manufacturing, distribution, and technology clients, and employee-benefit plans. He is also actively involved with the firm’s recruiting process. Smith received his bachelor’s in accounting from SUNY Oswego.

WILLIAM MILLER was promoted to general manager of the Utica branch of Erie Materials, a regional distributor of building materials. Miller served as the operations manager for the past year, following a 21-year career as a territory manager. He succeeds Leo Dudziak, who had served as general manager since 2000 and will move to a
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WILLIAM MILLER was promoted to general manager of the Utica branch of Erie Materials, a regional distributor of building materials. Miller served as the operations manager for the past year, following a 21-year career as a territory manager. He succeeds Leo Dudziak, who had served as general manager since 2000 and will move to a consultative role.
LYNN FARBER has been promoted to operations manager of the Utica branch. He started in the location’s warehouse in 2000 then was quickly promoted to inside sales. About four years later, he was promoted to territory manager then returned to inside sales in 2016.
MIKE MAASS has been promoted to territory manager at the Utica branch. He has been with Erie Materials for nearly 20 years, starting in the warehouse as a temporary employee in 2001. Maass was hired permanently in 2002, promoted to assistant warehouse manager in 2010, and then promoted to inside sales in 2013.
MICHAEL WYSKIDA was hired as an inside-sales representative at the Syracuse branch. He brings to Erie Materials strong product knowledge and a broad range of experience in the retail and wholesale building-material industry including inside sales and project management. JOSHUA HINE was promoted to insides sales at the Elmira branch. He started his career with Erie Materials as a driver in 2018 then was soon moved to dispatch where he was recognized for his organizational skills and efficient routing capabilities.
NEIL (BUCK) FARBER was promoted to insides sales at the Utica branch. He started with Erie Materials in 2001 in the warehouse then was promoted to assistant warehouse manager. After a hiatus, he returned to Erie Materials as a driver and in dispatch.

MIKE MURPHY has been named assistant VP, advanced radar and sensors at SRC, Inc., in its Defense Systems and Solutions Division. In this role, Murphy will be responsible for leading in the development of innovative radars and sensors, research and development of technology, and new business. He has been with SRC for 25 years, most
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MIKE MURPHY has been named assistant VP, advanced radar and sensors at SRC, Inc., in its Defense Systems and Solutions Division. In this role, Murphy will be responsible for leading in the development of innovative radars and sensors, research and development of technology, and new business. He has been with SRC for 25 years, most recently working as director of advanced radar and sensors. Murphy has a bachelor’s degree in computer engineering from Clarkson University and a master’s degree in electrical engineering from Syracuse University.
MIKE RUSSELL has been promoted to assistant VP, strategy and technology, will work with a broad network of colleagues from across the SRC enterprise to develop and maintain the strategy and associated investments for the Defense Systems and Solutions Division. Russell has been with SRC for 15 years, most recently as director of strategy and technology. He has a bachelor’s degree in computer engineering from Clarkson University and a master’s degree in electrical engineering from Syracuse University.
MADDIE DIGRISTINA has been promoted to director of diversity, equity, and inclusion (DEI) at SRC. She will drive SRC’s DEI strategy to cultivate a more diverse workforce and inclusive culture where all employees feel valued, respected, and recognized. DiGristina previously served as senior manager of diversity, equity, and inclusion. She has been with the enterprise for 10 years, has a bachelor’s degree in business management from Saint Michael’s College and a master’s degree in business management from San Diego State University.
KATIE LAFAY has been named director of international integration and strategic engagement at the company. In this new role, she will be responsible for the establishment of corporate strategies, policies, and plans to align with U.S. and international laws, regulations, and standards to posture SRC for international flexibility. LaFay previously served as senior manager of international trade compliance. She has been with SRC for more than 10 years. LaFay has a bachelor’s degree in communication, and a bachelor’s degree in political science, both from the State University of New York at Potsdam.
JANNA NELSON has been elevated to director of human resources at SRC. She will be responsible for leading the talent-management function while providing strategic and operational leadership to the talent management, talent acquisition, and HRIS teams and will work with organizational development, compensation, and benefits to meet business objectives. Nelson most recently served as a senior manager on the human-resources team. She has been with SRC since 2018. Nelson has a bachelor’s degree in human-resources management from Syracuse University and is a member of the Central New York Society of Human Resource Management (SHRM) and the National SHRM.
MARK CAMPITELLO has been promoted to senior principal systems engineer at SRC. He joined the company in 2010 as a principal systems engineer and, in addition to his duties in systems engineering, has held positions in integration and testing. As a senior principal systems engineer, Campitello will mentor colleagues and work towards implementing digital engineering and model-based systems engineering at SRC. He has a bachelor’s degree in computer engineering from the Rochester Institute of Technology and a master’s in system engineering from Southern Methodist University.
JASON CRONISER has been named senior program manager at the company. In his new role, he will help improve SRC’s on-the-move counter-UAS capabilities while mentoring colleagues who are interested in pursuing program management. Croniser started with SRC in 2019 as a program manager. He has a bachelor’s degree in mechanical engineering from Clarkson University.
PAUL VENESKY has been promoted to senior program manager. He has been with SRC for 16 years and moves to this new role from his program manager position. He will continue to manage the SR Hawk business area that includes sales, engineering, product line, and customer support. Venesky has an associate degree in electronics from ITT Technical Institute, a bachelor’s degree in computer information systems from Columbia College, and an MBA from Columbia College.
NYS pension fund produced nearly 5 percent return last quarter
ALBANY, N.Y. — The New York State Common Retirement Fund produced an estimated return of 4.74 percent in the final quarter of 2021, its fiscal third quarter. That’s according to New York State Comptroller Thomas DiNapoli who also noted that the fund ended the quarter with an estimated value of $279.7 billion. “A strong [fiscal]
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ALBANY, N.Y. — The New York State Common Retirement Fund produced an estimated return of 4.74 percent in the final quarter of 2021, its fiscal third quarter.
That’s according to New York State Comptroller Thomas DiNapoli who also noted that the fund ended the quarter with an estimated value of $279.7 billion.
“A strong [fiscal] third quarter kept our state pension fund on track, despite ongoing market volatility,” the comptroller said. “Our focus, as always, remains long-term, sustainable investment returns that will ensure our members and their beneficiaries continue to have secure pensions for generations to come.”
The state pension fund’s estimated value reflects benefits of $3.62 billion paid out to retirees and beneficiaries during its fiscal third quarter (the fund’s fiscal year ends March 31). Its audited value, as of fiscal year end March 31, 2021, was $258.1 billion and the state fiscal year 2020-21 annual return was 33.55 percent.
As of Dec. 31, 2021, the pension fund had 51.38 percent of its assets invested in publicly traded equities. The remaining fund assets by allocation are invested in cash, bonds, and mortgages (22.37 percent); private equity (12.36 percent); real estate and real assets (8.52 percent); and credit, absolute return strategies, and opportunistic alternatives (5.37 percent).
The S&P 500 index rose more than 10 percent in the final quarter of 2021.
DiNapoli initiated quarterly investment performance reporting in 2009 as part of his “ongoing efforts to increase accountability and transparency,” his office said. Quarterly rates of return provide a snapshot of performance over three months and reflect a fraction of the fund’s annual investment return, which is targeted at 5.9 percent.
About the state pension fund
DiNapoli’s office describes the New York State Common Retirement Fund as “one of the largest” public pension funds in the U.S.
The fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than 1 million state and local-government employees and retirees and their beneficiaries.
The fund has “consistently been ranked as one of the best managed and best funded plans in the nation,” DiNapoli’s office contended.

Plan post-COVID financial-planning, business goals
As COVID-19 case numbers drop and other news begins to take the top spot in the headlines, it’s a good time for individuals and business owners to take a moment to reassess their investment management, financial planning, and business goals as we begin to transition toward a post-pandemic world. “I think we’ve all just been concerned with
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As COVID-19 case numbers drop and other news begins to take the top spot in the headlines, it’s a good time for individuals and business owners to take a moment to reassess their investment management, financial planning, and business goals as we begin to transition toward a post-pandemic world.
“I think we’ve all just been concerned with trying to stay healthy,” says Christopher Giambrone, partner at CG Capital in New Hartford. It’s important to also make sure our financial lives are healthy as well, and this is a good time to do so.
For individuals, one of the main things he suggests is to evaluate any debt as all signs are pointing to increasing interest rates later this year.
Current inflation rates over 7 percent means higher interest rates on the way, says Alan Leist, III, CEO of Strategic Financial Services in Utica. Higher inflation also means our dollars don’t go as far as they used to and causes worry that the Federal Reserve could overcorrect on interest rates and trigger a recession.

“People are generally unsettled and scared,” Leist notes.
One way for investors to combat that unsettled feeling is to review investment portfolios and make sure that they are well diversified and monitored regularly, says Doug Walters, Strategic’s chief investing officer.
Giambrone agrees that a portfolio review is in order. “It’s a good time to take a look at your investment portfolio … and make sure it’s in line with your risk profile.”
Both Giambrone and Leist concur that the pandemic had one effect on people that could affect their financial-planning strategies.
“It encouraged people to think about what a great life means to them,” Leist says. For many people, it made them reevaluate priorities.

“There have been a lot of people that assessed things and retired early,” Giambrone notes. Whether it’s retiring early, traveling more, or some other goal, he recommends people get as specific as they can about those goals so they can develop a clear path to get there.
Things like figuring out when you want to retire and making sure your estate plan is up to date are critical components of planning and should be constantly evaluated as goals change, Leist notes.
Business changes
The workplace is one area that seen great change during the pandemic. While some people opted to retire, it wasn’t an option for others, Giambrone says. However, between working remotely from home or the loss of some service-industry jobs, there are a lot of factors business owners need to consider as the world transitions out of the pandemic.
Working is a big commitment, Leist says. “That commitment needs to be honored by the workplace, so the workplace becomes an empowerment tool.”
People are less stressed if they aren’t worried about their finances, and being less stressed can make them more productive, he says. “Make sure your people are being taken care of financially,” he adds.
Some businesses may be struggling to find the necessary staff, Giambrone says. He suggests they consider outsourcing tasks when they can. “There are a lot of specialty firms out there now to work with small businesses.”
Businesses should also reevaluate the client relationship to see what service model is best for each client going forward. Some clients might be eager to get back to in-person interactions, while others might prefer to continue a virtual model. Businesses need to be prepared to adapt.
This is also a good time for business owners to examine their objectives and make sure they are on track. “One really important aspect of being a business owner is your vision,” Giambrone says. Take some time with all the changes COVID-19 brought and make sure the company’s actions are supporting that vision, he says.
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