WEEK OF MARCH 9, 2009 Published Weekly Volume 19, Number 10 Single Copy 75¢

www.hvbizjournal.com is LIVE! Over 150 show up to demand MTA Banking, Finance and The Stimulus Board oppose payroll tax Pages 15-24

BY DYLAN SKRILOFF

ch 9, 2009 -25 URNAL Mar BUSINESS JO Hudson Valley A proposed 0.333% payroll tax on business- Inside Samuel de udson River, ration of the H the Hudson, udson’s explo mboat run on ng Henry H uccessful stea thcoming story r of celebrati ert Fulton’s s nopsis of a for l yea l of Rob s is a sy quadricentennia e bicentennia nts. The serie e begin this mplain and th ehind these eve As w n of Lake Cha mic history b es in a twelve-county region to help the exploratio t the econo Champlain’s take a look a ight be fun to we thought it m ubject. ing on on the s book I’m work PARTSEVEN

st bany industriali , a wealthy Al - Key Dates for Railroad Railroads and Ctheorning growth 1831, his com of New York I first line.. In Development in Metropolitan Transit Authority (MTA) bridge TOSK he who d rail EBBIE KWIA , there built t larly schedule BY D 1820 census the first regu any New York State rding to the ew pany had s between Alb ld Acco ple living in N nning 11 mile d ad line t for mo million peo il- service, ru Mohawk an ccessful railro atch ou were 1.4 ere were 11 m ctady on the 31 – First su any W . By 1900, th and Schene e linked the 18 between Alb York State ng factor to the oad. The lin gular service Page 26 gest contributi Hudson Rail R aking it begins re lion. The big purt in the udson Rivers, m enectady g enal growth s ohawk and H ffective and Sch line set alon te’s phenom similar M en more cost-e First Telegraph sta as, perhaps, a enient and ev est and 1850 – century w by an conv een the Midw 19th he role played e goods betw railroad y-backing” th spurt in t sity in to mov se of “pigg grow mere curio rk City. 0s, 1885 – First u oad the n that was a New Yo he 186 they would l inventio otive. In t - aul freight; e steam locom ilt gained con to h to flatbeds. 1830: Th Vanderb wagons right on rible a $1.2 billion budget gap is continuing to draw r e New York farm erious of ho trol of th 3 – After a s e, ilroad and 190 team and smok Central Ra ts, involving s network. acciden s steam loco- ompleted the islature outlaw c ade it NYS Leg nd, south of The lines m Manhattan Isla k the motives on ossible to lin River. p ith the the Harlem nderground allest town w irst electric u sm easy 1904 – F . city, making it ucted in NYC big et it subway constr ad begins ow food and g g Island Railro to gr ys; 1905 – Lon nd install rket within da senger cars a to ma ing all-steel pas es. unimaginable us ation to the lin to travel ead electrific ouse fierce opposition in the four-county region of fortlessly overh gest Roundh eb 2.0 distances ef World’s lar e Using W ind the 1906 – eonta for th (if you didn’t m ucted in On your al ember is constr ailroad. logies to occasional co d Hudson R techno travel- Delaware an at is known nding on your pening of wh ge la nd to 1908 – O n interstate advanta costume) a ATH system, a ing olis today as the P een NYC a metrop eavy rail betw build the underground h Page 27 York City) at . (New h and New Jersey y-owned the state, whic first publicall foot of 1932 – The endent as well on its ns (The Indep by now w y rail line ope ecoming the heav NYC. way to b ay System) in pri- Rockland, Orange, Dutchess and Putnam. The the World.” Subw hases the two “Capital of – State purc e 1940 e BMT and th ld systems (th ow the vately he grated subway Next week – H m the first inte eloped IRT) to for ilroads dev ra etter system. ke-over of faster and b e first public ta into ing 1966 – Th ). It was f shipp road (the LIRR ways o commuter rail om the eople and a the state fr goods, p st urchased by plains even the mo p ilroad. (which ex ideas to nnsylvania Ra tation, ections of New Pe out of Penn S remote s it runs in and why entral…) York. r than Grand C four counties together only have one slot on rathe rts new LCH sta any of S nd the comp dor club obert Fulton a oly on ambassa R had a monop stors he built n in the inve r transportatio Page 30 powered wate ain steam- gston, his m Robert Livin sed state. successfully u r, had early on e to investo any Legislatur ence in the Alb ic, his influ -powered traff other steam e keep any ompany, off th the 17-member MTA Board, but its con- by their c Contact Us: ve that owned cades via sa nearly two de son River for eckered Hud re ethically ch the state’s mo ater Story ideas/comments: one of s “The Hot W ons known a right [email protected] regulati gave the sole hat legislation to Bill.” T ia steam power ate the river v g Advertising: to navig mpany, blockin Steamship Co the Fulton years. [email protected] tors for over 20 s all competi cluding Erastu ntrepreneurs, in ie issions: Other e ndrew Carneg smaker subm zra Cornell, A t New Corning, E had a differen stituents pay the same in taxes. [email protected] anderbilt family er hvbjn and the V arness the pow ever. Why not h n. ions: idea, how d transportatio miss to create on lan am Datebook sub o.com of steam ew one: ste book@yaho ept was not a n s hvbjdate The conc eloped and wa had been dev locomotion with in Great experimented (845) 298-6236 being actively e. France at the tim Britain and in Calling the tax unfair and “taxation without representation” over 150 gathered at a rare Railroads supplant meeting of the MTA Board in the Hudson water corridors Valley last Monday, to voice their protest. It Page 25 was called a “Boston Tea Party” and the region’s politicians were leading the charge. Heavy hitters included Senators John Bonacic and Steve Saland, Orange County Executive Ed Diana and Assemblymen Joel INSIDE Miller. Representatives attended for Senator Thomas P. Morahan and Assemblyman Frank K. Skartados. Seven members of the MTA Board were in attendance to absorb the out- rage; Robert C. MacLaeger, Robert C. Bickford, Carl V. Wortendyke, Christopher P. Boylan, Susan G. Metzger, James L. Sedore Jr. Orange County Executive Edward Diana addressing the MTA Board. and Chariman H. Dale Hemmerdinger. PHOTO CREDIT: Hank Gross, www.midhudsonnews.com Most speakers that took the podium placed Trendspotting - tea bags on a table adjacent to the podium to symbolize their disapproval of both the tax and County executives in the valley share No job - no insurance the perceived lack of representation on the page 4 board. The one board member is slightly out of ratio given the entire population of the 12- thoughts at Patterns event county area in 14.6 million and the population BY DEBBIE KWIATOSKI As the Hudson Valley, New York State, the of the four counties is around 1.1 million. Were “It’s usually the case today of deciding country and the entire world face into what is the four counties given a second seat without between the ugly, the uglier …and the ugli- shaping up to be one of the longest and deep- further expansion of the Board, they’d be est,” Orange County Executive Edward est recessions anyone can remember, county slightly over represented. Usage of MTA tran- Diana admitted at a recent Pattern For executives from Dutchess, Orange, Ulster, sit systems is far less in Rockland, Putnam, Orange and Dutchess than the other eight counties, but they still are on the hook for the same taxes for the entire system as New York I want to be a welder City business owners. when I grow up Charlie North, CEO of Dutchess Regional page 6 Chamber of Commerce, and representing 1,742 members illustrated the region’s frustra- tion with the proposal. He said, “let them understand this is taxation Since 1986, the only without representation. We want you to oppose regional business this for us. It’s $17 million from Dutchess publication produced County for only 4,100 riders. Please, please, and printed in the oppose this tax for us,” Hudson Valley. North said, to wild applause. “The only thing we are going to get for this are people are INDEX going to get on the train and leave the State of Joe Murtagh ...... 8 Letters to the Editor ...... 8 continued on page 14 Judy Lewis ...... 8 Downtime ...... 9 Check Us Out! Open Mike ...... 9 Dutchess County Executive William Steinhaus, Ulster County Executive Michael Hein and Real Estate ...... 26 HVBJ Business Briefing Worklife ...... 27 Orange County Executive Edward Diana at event. Technology ...... 28 Monday-Friday PHOTO CREDIT: Linda Engler, Ad Essentials Education ...... 29 Small Business Resources ...... 29 6:13am, 7:13am, 8:13am Progress event in Poughkeepie. “There are Putnam, and Sullivan shared a stage to dis- Healthcare ...... 30 no good decisions, only ways to go that are Newsmakers . . . . .10 and ONLINE AM 920, AM 1260 and cuss the ways they have been trying to create Datebook ...... 11 and ONLINE AM 1420 slightly better than any other alternative.’ continued on page 14 Chamber Listings ...... ONLINE! 2- March 9, 2009 Hudson Valley Business Journal

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Dolores De Gregoria Vice President – Investments Matthew J. Mulpeter Vice President – Investments

HAVE JOINED OUR RHINEBECK OFFICE

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Securities and Insurance Products: NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE • NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE Wachovia Securities, LLC, Member NYSE/SIPC, is a registered broker-dealer and a separate nonbank affi liate of Wachovia Corporation. Securities©2008 Wachovia and Insurance Securities, Products: LLC 0506-24472 [67509-v1] A1254-1009 5/08 NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE • NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE Wachovia Securities, LLC, Member SIPC, is a registered broker-dealer and a separate non-bank affi liate of Wells Fargo & Company. ©2009 Wachovia Securities, LLC 0109-3411 [73583-v1] 03/09 Hudson Valley BUSINESS JOURNAL March 9, 2009 -3 Ski areas plan coordinated response to lift tax proposal BY GREG DRAISS outside the area. Vermont heavily adver- Greene officials have gone as far as to ski areas such as Belleayre would not be Ski areas in Greene and Ulster County tises its ski facilities in the Albany area request the state comptroller’s office to required to charge the tax. This is certain are attempting to join together in market- even though there are dozens of ski ven- investigate any damage done by state to add fuel to the fire already burning ing efforts consisting of a billboard cam- ues in the Catskills and the Adirondacks, facilities to private ski areas. They wanted between Ulster And Greene County paign coupled with discounted lift tickets. which are a much shorter drive. a complete audit of Belleayre’s operating Legislatures. While the county legislators of Greene The group is planning both long range costs and revenues. In retaliation, Ulster The ski industry in New York is respon- officials called for Ulster residents to boy- sible for $1.1 billion dollars in economic cott events held at Hunter and Windham. activity during a four month operating Ulster officials proposed a joint ski pass season according to a study conducted last that would offer discounts and could be year. Ski industry supporters call the tax used at ski areas in Greene, Ulster and counterproductive and hypocritical. They Delaware counties. The government ini- say imposing a tax on unhealthy soft tiative has failed to take place thus far. drinks while taxing healthy exercise sends The billboard proposal would be used a contradictory message to the consumer. to attract skiers that are using other ski The ski industry is not the only industry areas in the state and even out of state. So subject to the entertainment tax. Golfers, far officials in Ulster and Greene support campers using private campgrounds, the idea of a marketing effort by the ski bowlers, movie goers and others will have areas. to pony up the additional four percent if The ski center operators are also united the proposal becomes law in next year’s on another front. Governor Paterson’s state budget. Greene County Legislature new budget calls for an “entertainment Chair Wayne Speenburgh added his dis- tax.” This new tax is scheduled to be an sent by saying it is wrong to add a sales additional four percent tax above the cur- tax to private facilities and exempting rent sales tax always in place. State owned state run operations. Columbia and Greene counties oppose plan to sell wine in supermarkets and Ulster argue over the state owned and short term goals set to begin for the BY GREG DRAISS liquor now out of business. They also Belleayre facility in Ulster having an 2009-2010 ski season. Greene legislators Opposition to sales of wine in grocery raised concern that such a move would unfair advantage. Owners and operators have long let it be known they are unhap- stores and supermarkets has united Greene make alcohol more accessible to minors. of sites in Ulster, Delaware and Greene py that the state operated Belleayre ski County government and Columbia County legislative Chairman Wayne are attempting to market the entire center has the fair advantage of almost County business leaders. The Greene Speenburgh also issued a concern about Catskill region in one unified effort. The unlimited state promotional monies. They County legislature unanimously voted on the impact the proposal would have on sites, Windham, Hunter, Belleayre and claim that Belleayre offers tickets at a resolution opposing Governor Empire Merchants North. Empire is a Platekill met recently to discuss the use of below cost rates to attract skiers from out Paterson’s plan to introduce wine sales in large distributor of wine and liquor. They billboards and discounted lift tickets. The of state. Greene officials also say that supermarkets. The resolution said allow- are building a new 250,000 sq. ft. distribu- discounted tickets would be issued when Belleayre can operate in the red with the ing sales of wine in grocery stores would tion center in Coxsackie. skiers present old tickets from ski areas state always picking up the tab. put small businesses that sell wine and continued on page 10

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BY JUNE LAMBA-LUTWANA jobs in December and 1.9 million during Specific foundations and organizations just as well. America may be one of the world’s last year’s final four months. This year for certain ailments and diseases such as Some organizations such as the wealthiest nations with high standards of 2009 is worse and many have lost their the American Cancer Society, the Veteran’s Administration offer a network healthcare, but the healthcare is often also jobs with minimal severance pay. For American Heart Association, American of hospitals that provide care and services many who are laid off, that Kidney Fund or the Access Project for at reduced rates. They may help members means losing their health HIV/AIDS and Hepatitis, may offer help. find affordable health care providers. insurance. These may offer free screenings and sup- For those who have children, they can There is little hope, even port for people who are already diagnosed sign up for the State Children’s Health for those still employed. with such conditions, says the financial Insurance Program (SCHIP). SCHIP Many small employers can- savvy website Financial Web. offers low cost insurance for families and not offer health benefits People on prescription drugs, may get children. due to rising insurance pre- help from their local pharmacies to reduce Families may also locate “free clinics” miums. Some companies costs. One way to save your dollars is to which usually offer a minimum fee for that do offer health insur- get the manufacturer’s contact details services. ance require employees to from the pharmacy to directly inquire Applying for Medicaid, even temporar- contribute more towards about discounts for prescription drugs. It ily, may be the most viable solution for their coverage. is also a good idea to negotiate monthly some people. Beyond Medicaid you can Many people have opted payment plans with pharmacies. look at for free health screenings by the to go without health insur- Prescription costs may also be lowered local health department says the financial ance because they simply by buying generic drugs which may work savvy website Financial Web. cannot afford it. With so many people Catskill Regional expands outpatient radiological services without health insurance either because they don’t Catskill Regional Medical Center’s Radiology Department provides outpa- have a job or because of Grover M. Hermann Hospital Division in tient radiological services as well as uncertain terms with their Callicoon has significantly expanded on- EKG’s with little to no wait time. It is not employers, there are solu- site outpatient radiology services to better necessary for patients to make appoint- tions for accessing health- serve the community. Starting Monday, ments however patients must be sure to care during tough times. February 16, radiology technicians will be bring their script. All tests are promptly unaffordable. Nearly 46 million If you have no insurance because you on-site Monday through Saturday, 8:30 read by Board Certified Radiologists and Americans - 18 percent of the population have lost a job, applying for COBRA, a.m. to 8:30 p.m. and Sunday from 8:30 reports are sent to the patient’s physician. - under the age of 65 were without health which allows former employees who a.m. to 4:30 p.m. The expansion of Catskill Regional Medical Center’s insurance in 2007, says the National leave a company to pay their own premi- evening and weekend hours is designed to Grover M. Hermann Hospital Division is Coalition on Healthcare (NCHC). um for the company’s health care plan up specifically accommodate patients who located on NYS Route 97, 2 miles south That number is rising as more and more to a year and a half, is one way to go. If find it difficult to make appointments dur- of Callicoon. people lose their jobs in the economic you qualify, it may give you some breath- ing the business week. For more information call 845-887- downturn. A U.S. Labor Department jobs ing space, hopefully until you get another Grover M. Hermann Hospital’s 5530. report showed the economy lost 524,000 job. Ulster Savings hosts public party Dutchess Community Foundation Fund gives grant for breast cancer support counseling Ulster Savings Bank will be hosting an Crab, Anna Bagnall and Keith Gunderson artist reception for The Red Hook Pastel until April 11th. Support Connection Inc., a not-for- Foundation of Dutchess County, based in Society on Friday, March 20 from 5pm – Ulster Savings Bank continuously fea- profit organization based in Yorktown LaGrangeville, NY, is a non-profit 501 (c) 8pm at their Red Hook branch, located at tures artwork from many local artists at Heights offering free, confidential support (3) public charity established in March of 7296 South Broadway. several of its branch locations throughout services to people affected by breast and 2003. Their mission is to provide funding The public is invited to attend. Light the Hudson Valley. ovarian cancer, recently received a to non-profit organizations for support refreshments will be served. For more information about the upcom- $10,000 grant from the Miles of Hope services and outreach for people affected The Red Hook branch will feature art- ing artist reception, please contact Patricia Breast Cancer Foundation Fund of the by breast cancer in the Hudson Valley, work from Society members Elaine Ring, Pennisi, Red Hook Branch Manager, at Community Foundation of Dutchess New York. To learn more about Miles of Janet Borda, Milly Sugarman, Ginger 845-758-4020, ext. 6506. County. The grant will help fund Support Hope, visit their website at Connection’s Peer-to-Peer Counseling http://www.milesofhopebcf.org/. Program for women with breast cancer. Support Connection, Inc. was estab- Hudson Valley Support Connection’s Peer Counselors lished in 1996 and since then has provid- Business Journal provide personalized, confidential support ed a wide range of individual and group 86 EAST MAIN STREET, WAPPINGERS FALLS, NY 12590 • 845-298-6236 and education to women with breast can- services to people affected by breast and The Hudson Valley Business Journal USPS 002658 is published 52 times a year by the cer. All services are provided free of ovarian cancer. In addition to the services Wappingers Falls Shopper, 86 East Main St., Wappingers Falls, NY, 12590. Subscription rates: charge. Peer Counselors are women who funded by this grant, Support Connection 52 issues $35. Periodical Postage rate is paid at Wappingers Falls, NY, 12950 and at addition- have experienced cancer and have also offers in-person breast and ovarian cancer al mailing offices. ISSN 1040-3000. received professional training. Peer coun- support groups in Westchester, Putnam POSTMASTER: Send address changes to: Hudson Valley Business Journal, 86 East seling is provided on the phone or in per- and Dutchess counties, as well as a toll- Main Street, Wappingers Falls, NY 12590. son, and is available from the time of free telephone support groups. Additional diagnosis for as long as it is needed, as services include wellness workshops and PUBLISHER - Albert Osten often as it is needed. Support is available educational programs offered at various ANAGING DITOR to family members and loved ones as sites, a toll-free cancer information and M E - Debbie Kwiatoski ext. 202, [email protected] well. The demand for this service has support hotline; resource and referral STAFF REPORTER, BUSINESS MANAGER - Chris Miller grown steadily over the years, and this information. To learn more about Support grant will help Support Connection meet Connection’s programs and services, call STAFF REPORTER, EDITORIAL ASSISTANT - Dylan Skriloff this critical need. 914-962-6402 or 800-532-4290 or visit MARKETING REPRESENTATIVES - The Miles of Hope Breast Cancer www.supportconnection.org. Tonya Bynoe, ext. 203, [email protected] Foundation Fund of the Community Logan Moskovitz, ext 204, [email protected] DESKTOP PUBLISHING - Sharon Browne CONTRIBUTING WRITERS - Greg Draiss, Sherry Saturno, Patti Simone, Miss a story? Elizabeth Werlau, Dana Sagona INTERN - June Lamba-Lutwana You can find past issues of the Press releases- [email protected] Hudson Valley Business Journal Advertising - (845) 298-6236, [email protected] ONLINE! www.hvbizjournal.com The views and opinions expressed in the columnists articles are that of the www.hvbizjournal.com authors and not necessarily that of this newspaper. Hudson Valley Business Journal March 9, 2009 -5 Attention Home & Garden Businesses

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BY GERALD SHANKEL, knowledge to handle the increasingly comedy “Cheers,” host of the factory- Here are just a few of the hundreds of ini- PRESIDENT AND CEO sophisticated tasks required in manufac- focused Travel Channel show “John tiatives taking place across America: FABRICATORS & MANUFACTURERS turing. For example, laser light often is Ratzenberger’s Made in America” and The Cleveland-based Manufacturing ASSOCIATION, INTERNATIONAL used to cut metal now, and this requires a spokesperson for the Nuts, Bolts & Advocacy and Growth Network sponsors There is a burgeoning movement to person proficient in math and science Thingamajigs (NBT): the Foundation of videos shown in seven Ohio high schools motivate students in America to consider skills. the Fabricators & Manufacturers that illustrate why manufacturing is a careers in the unlikeliest of places – the The outreach to students and educators Association, Intl., that encourages young good career choice. A recent program on factory floor. is taking two parallel tracks in response to people to consider careers in manufactur- welding even featured Jay Leno, who Even in the face of job cuts amid the extolled the virtues of the welders who current economic turbulence, U.S. manu- restore his prized autos. facturers have great concern about the Two business groups in Manitowoc growing shortage of young skilled labor County, Wis., sponsor “Project Mini- needed to make products used in indus- Chopper” that showcases career opportu- tries ranging from aerospace and medical nities by giving students real-life experi- devices to alternative energy and infra- ences with manufacturing. Student groups structure improvements. actually build motorcycles as school proj- Those heralding the cause include lead- ects. ing trade associations, regional economic The NBT offers more real-life manufac- development groups, TV personalities turing experiences by issuing grants to such as Jay Leno and John Ratzenberger, educational and not-for-profit institutions and even a teenage race car driver. Mark that conduct summer manufacturing Tomlinson, executive director and general camps for kids with courses that focus on manager for the Society of Manufacturing designing and building things. The camps Engineers, says that although there have give the kids a tangible experience to been significant job losses in certain make something they can be proud of and industries and regions, many areas of the take home, inspiring the next generation country are clamoring for skilled employ- of engineers, builders and manufacturers. ees. “In Texas, the oil and gas industry has The OSU-Okmulgee MidAmerica created a thriving manufacturing commu- Industrial Park in Pryor, Okla., conducts a nity, and parts of the Southeast have seen two-day program called, “All About tremendous growth in several segments,” Manufacturing,” that targets K-12 educa- he said. tors and teaches them about manufactur- A recent poll conducted by sponsors of ing as a career choice – knowledge they the FABTECH International & AWS can pass on to their students. Welding Show revealed executives cited the challenge. One dispels the negative ing, believes the media are part of the FMA is now in its second year of featur- the lack of employee skills as a leading image many have of factories as dark, problem. “Media and Hollywood often ing Florida teenage race car driver and obstacle to growth. dingy and dangerous, and such work as portray manufacturing in a poor light, welder Brennan Palmiter in efforts to That supports what we’ve heard for a unfulfilling. The second highlights the denigrating anyone who works with their reach young people. Initiatives include the couple of years from executives in the chance to use fun, high-tech, computer hands,” Ratzenberger said. “GO Brennan” scholarship program in metal forming, fabricating and welding skills and the opportunity to secure a Ratzenberger believes that the manufac- which students apply by posting videos on industries. They report their biggest chal- career that pays well and offers advance- turing community must do a better job YouTube, and a “Be True to Your School” lenge today is finding skilled workers, ment. informing children that working in a fac- program tied to FMA magazine Practical especially young people, who have the Actor John Ratzenberger, star of the tory is rewarding both personally and Welding today that has Palmiter visiting financially. “It all starts with getting schools accompanied by his race car, to A fascination for math leads to a NYS scholarship young people to take pride in tinkering talk about welding, racing and manufac- and inspiring them to work with both their turing. Palmiter knows it’s important that At a young age, Meaghan Masterson of with the help of the New York State Math hands and their minds,” he added. people his age realize there are opportuni- Stillwater, New York was attracted to and Science Teaching Incentive Many agree with Ratzenberger. The ties in the manufacturing field for them to math. Her fascination with numbers and Scholarship, she will be able to graduate image of manufacturing is still very much pursue. the relationship between figures and with a lighter financial burden than some misunderstood; people, particularly young It’s critical to get parents and teachers forms soon turned to a love of the subject. other college students. Masterson was one people, believe that we have the manufac- involved. If parents and teachers don’t With the inspiration of a favorite teacher, of 237 recipients of the scholarship grant- turing plants of the 1950s and ’60s. have personal experience in today’s man- Masterson realized that she was meant to ed to New York math and science educa- A recent report from the U.S. ufacturing, they can’t guide their children be a math teacher. tion majors in the award’s inaugural year. Department of Labor also noted, “Popular with accurate opinions and information Currently a junior at the College of “This scholarship will help achieve my perceptions of manufacturing jobs as dark, about manufacturing careers. For exam- Saint Rose in Albany, New York, goal by helping me pay my student loans dangerous and dirty are largely outdated ple, our local Chamber of Commerce Masterson is pursuing that dream. And, off, so I do not have to worry about my as advanced robotics and other ‘intelli- Manufacturers Council in Rockford, Ill., loans when I start teaching,” said gent’ systems become pervasive through- compiled a web resource on manufactur- Iona College students Masterson. out the manufacturing process.” ing careers and provided it to the local Now in its second year, the Math and Combating this image and shining a high school district. The district then cre- offer free tax help Science Teaching Incentive Scholarship spotlight on the career opportunities in ated a web page on its site that is visited was created to meet the need for more Students from Iona College’s Hagan manufacturing now represent missions of regularly by both students and parents. dedicated math and science teachers in School of Business are offering free tax more and more organizations, whether I see this entire movement is starting to New York’s high schools. The scholarship help to the public on four Saturday morn- these are grassroots or national efforts. continued on page 10 ings leading up to April 15, Tax Day. is administered by the New York State Volunteers will be available for consul- Higher Education Services Corporation Deadline approaching for scholarship tations between 9:30 a.m. and noon on (HESC), the agency that helps people pay March 7, March 14, March 28 and April 4. for college. Scholarships totaling $86,000 are now about scholarship opportunities is avail- The service is first-come, first-served, The maximum award is equal to the available for new students at Rockland able in high school guidance offices or at walk-in only, and will be located at the annual undergraduate state resident tuition Community College. Incoming students Rockland Community College’s Offices lower level Computer Lab of Hagan Hall charged at the State University of New of any age, whether they are just graduat- of Admissions and Financial Aid. on Iona’s campus, 715 North Avenue, York. ing from high school or are adults wishing Those interested in applying for schol- New Rochelle, New York. Scholarship recipients, in return, agree to enter college, are eligible to apply. arships should obtain a booklet immedi- Taxpayers looking to utilize this service to teach math or science on a full-time Twenty-five scholarships are available, ately since there is an application dead- should bring the following items: basis at any secondary school in the State including many for full tuition for two line, which includes all supporting docu- • Last year’s tax returns for five years. years, a $6,800 value. The scholarships, ments, of March 20 for Rockland Negro • This year’s tax package and/or label The application deadline is March 15. which are made available by the Rockland Scholarship, May 15 for Knights of • W-2 and 1099 forms Eligibility details and supplemental appli- Community College Foundation, are for Pythias and July 13 for all others. • Information on any other income cation for the 2008-09 New York State children of alumni, minorities, art stu- For further information, contact • Information on deductions or credits Math and Science Teaching Incentive dents, nursing students, honor students Admissions at 845-574-4224, Financial For more information, please call (914) Scholarship are available now on the and more. Aid at 845-574-4282 or visit www.suny- 633-2267. HESC Web site at www.hesc.org. A booklet listing detailed information rockland.edu Hudson Valley BUSINESS JOURNAL March 9, 2009 -7 Home remodeling, the cheaper option in a bad economy 3000 Square Feet of BY JUNE LAMBA-LUTWAMA Green furniture tops it all. Eco-friendly Meeting & Banquet Space 2008 was a challenging year for the real furniture is the way to go for many peo- estate market. The credit market tight- ple. Many pro-green home remodeling • Meetings & Conferences ened, foreclosures increased and every- consultants advise doing a little research • Cocktail Parties thing seemed to be falling apart. Things into furniture manufacturers and see that Stewart Airport • Weddings & Showers are not very different in 2009, experts say. employs eco-friendly technology in their • On-site Meeting Planner Home builders are still concerned about manufacturing process. Some furniture the rising number of foreclosures and manufacturer has their manufacturing Ask about our 125 All Suites Property: short sales. process certified for compliance with the Many Americans are opting to remodel Meeting Planner • Full Kitchens International Tropical Timber • FREE Suite Start Hot Breakfast or re-decorate rather than buy a house or Organization (ITTO) guidelines for sus- Special! build a house because of the disturbed tainable management of tropical forests. • FREE Wired/Wireless HSIA credit market because sales conditions Other s replaces every tree used in the fur- 180 Breunig Road • FREE Welcome Home Reception M-TH • On-Site Business Center have not changed, say economists. niture manufacturing process. New Windsor, NY 12553 While many Americans are not buying Whatever your taste is, whether green • Indoor Pool, Spa & Fitness Center houses or building houses, 69% believe or not, money still talks and tough choic- Tel. 845-567-2700 that making any home improvements will es still have to be made in this bad econo- www.HomewoodSuitesStewartAirport.com increase the value of their home, accord- my about living spaces. ing to an America Online (AOL) real estate survey. With both the economy and the housing market suffering, home improvement trends look good in 2009. According to the Joint Center for Housing Studies at Harvard University, trends in home sales Hudson Valley are the primary driver of home improve- ment sales. Remodeling expenditures typ- 2009 ically rise less than residential spending during an upturn and decline less during a Media BUSINESS JOURNAL downturn. Kit The center’s research shows that new residential spending declined more than 50% in the last quarter of 2008, while spending on home improvements declined

WEEK OF NOVEMBER 26, 2007 Published Weekly Volume 18, Number 48 Single Copy 75¢

Hudson Valley BUSINESS JOURNAL November 26, 2007-15 Inside only 16%. story You gotta have heart

Corporate giving, strategic planning and the communal good

BY DEBBIE KWIATOSKI At the 2002 Council of Foundation’s annual conference, Kent (Oz) Nelson, the Wanted: hardworking CEO of United Parcel Service, famously families in need of a observed that all giving – including cor- Marist and HVCFI discuss collaboration porate giving – should “come from the home of their own heart;” at which point Reatha Clark King, Page 17 then president of the General Mills Foundation was said to comment that the finding of a corporation’s heart was, actu- ally, the real problem. Yet, in a world where government policies; the general cost of living; and an seemingly unusual (and endless) round of natural and man- made disasters have stretched public resources to the breaking point; there has rarely been a more necessary time to look to the private and business sector for com- munity support. BY CHRIS MILLER King, it also seems, was not just wise- cracking about the state of “souless corpo- ration” in America today, she was point- Creating healthier ing out that the real trick for the founda- tion directors was to figure out exactly waterfronts on the what the “corporate heart” of a given Hudson company actually was. Was it the pet proj- ects of the company’s CEO or its board of Since 1986... Page 24 directors? Was it the societal needs of its employees? Was is what community in A partnership between the Center for which it resided wanted? Did it come from the collective wisdom of its founda- Go Big Red! tion board? Did it have to be tied in some way to the company’s general mission? What was it, where was it to be found – and how to articulate it through the grants they made has been the bane of nearly every foundation director since the end of World War II, when the whole concept of organized corporate giving became popu- Collaborative and On Demand Computing lar. Cost is a basic factor when making the It wasn’t that there weren’t some stellar examples of businesspeople giving back Ulster BOCES students to their communities or taking an interest celebrate success in causes and social needs that directly impacted their employees. Henry Ford, Page 26 Alexander Graham Bell, Andrew Carnegie, John D. Rockefeller, J.P. Morgan, all gave quite a bit of their wealth to causes they were attracted to funding. (CCODC) at Marist College and the Hudson Lane Bryant – whose founded her large Contact Us: company on designing the first maternity Story ideas/comments: clothes that women could wear out in pub- lic – took a string personal interest in her [email protected] employees’ personal needs, going so far as to give any woman employee a full new Advertising: wardrobe, if their was destroyed in a flood [email protected] or fire (a pretty common occurrence at the turn of the last century, actually). She also Newsmaker submissions: contributed heavily to various Jewish Valley Center for Innovation (HVCI) is being [email protected] philanthropies. Maggie Lena Walker, the founder of the Datebook submissions: St. Luke Penny Savings Bank in Virginia At the American Heart Association’s Go Red For Women Luncheon on November 9th [email protected] in 1905, became the first woman bank president in the United States. She sup- Emcee Michelle Taylor, Host of the Mid-Day Show on 92.1 Lite FM, Chairwoman Leah ported many African American charities Cerkvenik, Executive Vice President of Bon Secours Community Hospital, and Keynote (845) 298-6236 Speaker Dr. Edward Lundy, Chief of Cardiac Surgery at the Active International of the day and encouraged all her friends (845) 298- 6238 (FAX) Cardiovascular Institute at Good Samaritan Hospital, are dressed in red to celebrate the and associates to do likewise. fight for women and heart disease. Myra Bradwell founded the Chicago For more information on the Go Red For Women Movement visit continued on page 26 www.GoRedForWomen.org. discussed in the valley. The strategy, propo- nents say, would reduce technology costs and decision to buy or simply remodel. In Corporate giving, increase business visibility and market-edge. strategic planning and These and other ideas were on the table last The Definitive Source for Business News the communal good week at a luncheon co-sponsored by Marist and the Hudson Valley Center for Innovation. page 15 Since 2004, the CCODC has been recog- many cases it is cheaper to remodel an PLUS nized by NYSTAR (New York State Office of Science, Technology, and Academic Research) as a College Applied Research and Technology (CART) center to encourage greater collabora- tion between New York State’s industry and existing home than it is to build a new New York State’s colleges. and Resources from Westchester to Albany New York State (NYS) has approximately 315 colleges and universities – more colleges Media critic speaks at and universities than any other state. Twelve of those colleges and universities are designated SUNY New Paltz as NYSTAR research centers. home. page 4 Marist College is the only school on NYSTAR’s list that is a college and not a uni- versity. “We fit in with that particular group because of what we have in terms of technology at If you do decide to remodel there are Marist College,” said Roger L. Norton, Dean Roger L. Norton, Dean of the School of Computer Science and Mathematics at Marist College. Of of the School of Computer Science and the 13 schools on NYSTAR’s research center list, Marist is the only school that is not a university. Approximately 50,000 readers each week Mathematics at Marist. “A lot of that has to do Ulster Community with our strong relationship with IBM.” Foundation names The mission of the CCODC is to work with HVBJ founder, wife, lauded in Warwick NYS companies – helping them to apply and certain trends that are popular in 2009. director BY DYLAN SKRILOFF honor earned posthumously, but Rabbitt page 6 understand new information technologies. Norton noted the work must have some eco- Ed Klein’s hard work and visionary ideas seized on the opportunity to honor Ed and nomic benefit for the company or the state. have earned him Phyllis on the “We contract with companies. We have legendary status 60th anniversary about $750,000 a year, in terms of budgeting, in the Warwick of their marriage. Greener spaces and bigger spaces are def- neighborhood from the state to work with companies,” “I met Ed after Norton said. “We work with companies and now it’s I became an Orange, Rockland, Westchester, Putnam, Dutchess, throughout New York State. Our mission is not earned him a rare Assemblywoman simply supposed to be working with compa- honor; State three years ago. Winslow holiday nies in the Hudson Valley.” Assemblywoman Everyone in initely in this year. Many homeowners telethon benefits Annie Rabbitt Warwick knows The CCODC program bridges graduate and undergraduate students together based on skill read Klein’s Ed Klein. He’s children and adults name in thanks with special needs requirements for the project at hand. The done so much. I Marist faculty manages and mentors the stu- on the floor of the am glad I had the page 12 dents in a real world environment. State Assembly in opportunity to Ulster, Sullivan, Greene, Columbia County early November. want bigger bathrooms and kitchens and “The students have the opportunity to get read his name and only Since 1986, the sensitized to real businesses where their Klein is the also to appreciate regional business Hudson Valley the accomplish- publication produced actions result in consequences that may involve real money, all the while being super- Business ment of 60 years and printed in the Journal’s founder, Hudson Valley. vised by us,” explained Alan Labouseur, of marriage. I greener living spaces. CCODC Manager and Marist faculty member. current roving hope to celebrate INDEX Areas such as data bases and applications, e- editor, and pio- that myself, some Coverage Area neer of many day,” said commerce, grid systems, cell phone network Business Beat ...... …8 media projects Marotta on Money ...... …9 utilization, graphics programming, business Rabbitt. Joel Greenwald ...... 9 ranging from The Klein’s continued on page 20 Open Mike ...... …9 print publishing romance begain Many homeowners want lavishly William A. Brenner ...... 10 to radio to televi- in 1946 when Letters to the editor ...... 10 Check Us Out! sion and cable. Phyllis and Ed Klein Phyllis was hired NEWSMAKERS ...... …11 HVBJ Business Briefing He and his wife as an editor for NEW BUSINESSES . . . . .…11 (and, for years, his editor and “partner in DATEBOOK ...... …12 Monday-Friday Ed’s newspaper, The Home News in CHAMBER LISTINGS . .…13 crime”) have also spent a great deal of time, Oakhurst, N.J. On September 12, 1947 they expanded bathrooms where people can REAL ESTATE ...... 16-17 6:13am, 7:13am, 8:13am energy and money furthering a wide range married at the home of Klein’s parents in EDUCATION ...... …18-19 AM 920, AM 1260 and of community causes and needs. Deal, N.J. TECHNOLOGY ...... 20 Typically, being recognized and thanked They worked their way through a few HEALTHCARE ...... …21 AM 1420 on the floor of the state’s government is an BANKING & FINANCE . . .23 continued on page 23 relax. Standard showerheads are being Who gets the Business Journal? SMALL BUS SOLS .……24-25 replaced with oversized rain showerheads, and for those who can are going for show- Business Owners Since 1986, the Hudson Valley erheads with body sprays and steam Business Journal has developed a showers says an Edina article. Concrete Key Executives and Decision Makers floors are popular because of their reason- Healthcare Professionals solid reputation for delivering a loyal able cost. readership of the valley's The trends also point to larger more Education Administrators professionals and key decision makers functional kitchens because the kitchen I.T. Professionals to companies who target a B2B client has become a haven of comfort , not just a base - and companies who want to place to prepare and eat meals but gather- Real Estate Professionals ing, doing homework, paying bills and capture the attention of individuals who more. Commercial grade stainless steel Government Leaders average a significantly higher net worth appliances, says Ezine.com. Media and Marketing Executives than the general reader of the area's As for power options, integrated solar other print media. power panels are in. More homeowners Chamber Members are looking at solar technology as a viable • The HVBJ's subscriber list is a dynamic and option. In fact architects and engineers Banking, Insurance & Financial Services finely-tuned database that is systematically that are turning to simple biodegradable Professionals reviewed and updated to ensure that it accu- materials and methods say an About.com rately reflects the region's active business article. Economic Development Leaders community. (Subscription price: $35/ year...52 As homeowners move closer to nature, issues). We do not buy unverified mailing lists, neutral, down to earth colors are in, says PLUS nor is ours available to any other party. Ezine.com. Soft green tones, such as sage, • Most subscribers report that they read the have recently become a popular choice, Additional Open Distribution to Business Journal at work, accounting for a sig- particularly as an accent color on kitchen nificant "pass-around" readership rate. cabinets. Stewart International Airport • While the majority of our subscribers live and Chamber Offices work in the Hudson Valley, we also have many subscribers/readers in the Metropolitan area, Find HVBJ Selected Newsstands New Jersey and Upstate New York Media Kit Dutchess, Columbia, Greene, Orange, Rockland, Westchester, Sullivan, Ulster online @ 86 East Main Street, Wappingers Falls, NY 12590 • 845-298-6236 • Fax: 845-298-6238 www.hvbizjournal.com E-mail press releases to: [email protected] • E-mail ads to: [email protected] 8- March 9, 2009 Hudson Valley BUSINESS JOURNAL Opinion Procrastination can be an asset in Business Ideas by a challenging economy The DreamSpeaker™ Are Hudson Valley Organizations open ing entirely upon the “draw” before the to considering that; He who hesitates is match begins. lost... may be wrong? Haste makes Moreover, our typical view of great Joe Murtagh waste... may be right? Sometimes you can leaders is that they are bold and decisive, ready, aim, fire and at others you must like Teddy Roosevelt or Vince Lombardi. 200?” you’re talking about is a very valuable ready, fire, aim? This black-and-white approach to think- The best advice is that you don’t have to trait for anyone who expects to be a leader Conventional wisdom considers it a ing may be a successful strategy, especial- make up your mind about a persons cred- on a long-term basis.” valuable skill to be able to make decisions ly in flight - or - fight situations. However, ibility until it’s absolutely necessary. as quickly as possible. But we also cau- many noted military leaders were skill Many failed businesses have been taken When it comes to decision-making, the tion that speed can be a negative factor as that “thinking gray” on the battlefield. in by glib, highly educated “specialist” vast majority of us have been brought up well. Rather than leaping to a conclusion, Napoleon, Washington and Rommel all and have found it difficult to carry out with a clean desk mentality. “Never put often the smartest thing that an organiza- knew the value of suspending judgment what they knew was best for their cus- off to tomorrow a decision you can make tion can do is to “think gray.” about many important matters until the tomers. today,” may be the worst advice ever Many people immediately categorize last possible moment. Forming opinions A graphic design firm insisted that the given to a Hudson Valley business. everything is black or white, good or bad, before it is absolutely necessary closes the typeface in a brochure had to be small to true or false. A truly effective business mind to new information that becomes preserve the “artistic integrity” of the end This article is provided by Joe Murtagh, leader needs to be able to see the shades of available later. product. The client, however, wanted to The DreamSpeaker™, International gray in situations in order to make truly Just as you can think gray without ever use large typeface because its elderly cus- keynote speaker and business trainer. wise decisions. needing to reach a conclusion, you can tomers couldn’t read the fine print. The Email questions or comments to “Thinking gray,” however, is only nec- also listen gray without ever needing to designers were more interested in [email protected], logon to essary for the weightiest and most diffi- deliver a response. Active listening, with impressing their colleagues and winning www.TheDreamSpeaker.com or call 800- cult issues. F. Scott Fitzgerald described relevant and probing questions, can help awards than communicating their client’s 239-0058. Develop unstoppable power by “thinking gray” as the ability to hold two the speaker realized that they have to be message effectively. connecting with your unique “Purpose” opposing thoughts at the same time, while able to support their arguments with data. Bill Laverly, President of W.J. Laverly and achieve it thru a can-do “Attitude” still retaining the ability to function. For The top business leaders never just take Real Estate said, “People seem to expect empowered by acquiring the example, in collegiate style debating, comments at face value. Rather, they ask, leaders to know everything about every- “Competencies” necessary to succeed teams are often asked to be able to argue “Who is saying what to whom? Is this thing all the time. Resisting the urge to and implement them thru interdependent both sides of the assigned issue, depend- communicating the opinions of two or give your opinion until you know what “Teams” of like minded people. The positives and negatives of different marketing media Judy Lewis Part I of 2 In this first part of a two-part article we Savvy Solutions and Suggestions for Small Businesses Every businessman knows that market- will discuss television, billboards, radio, ing is not a luxury, but a necessity. The and newspapers as marketing media. on the fact that television reaches mass adults listen to the radio is substantially problem always is, in which marketing Television audiences with every single exposure. The less, an average of about three hours a media to advertise. The answer is that Almost every household in the United color and motion, unique to television is day. Radio has as its strongest pro that it there are both pros and cons to every type States owns at least one television. perfect for impacting viewers with prod- reaches audiences on the go. Because this of media. This article will compare sever- Remarkably, the average viewership is uct demonstrations and brand recognition. is such a mobile population, the reach of al types of media, in an attempt to assist in almost seven hours a day. The impact of The cons of television as a media are radio appears to be increasing. Radio ads that critical decision. television as a marketing media is based threefold. The first is the lack of reten- have a relatively quick production time tion, because the message that television and relatively low production costs. presents “disappears” when the television Radio advertising can be targeted to spe- is turned off, unless the marketing mes- cific audiences, by choosing to advertise Letters to the Editor sage is repeated often. The second down- on radio stations, which draw particular side to television advertising, is that the demographics. audience is divided amongst the subsets, The downsides to radio are that radio The impact of an MTA tax i.e., cables, independent stations, VCRs, oftentimes serves the purpose of provid- I attended the hearing Monday evening, have cut their annual budgets for 2009 DVDs, and BlueRay. Lastly, the cost of ing “background noise” and commercials March 2nd, in Newburgh and echo the just to get to breakeven. Tonight, the television commercials, tends to be high must be run often, in order to achieve the comments made by those who spoke. I am Chairman of the MTA Board suggested compared to other media. desired impact. Radio, of course, is limit- the Executive Director of Dutchess ARC - that the audience should be focusing ener- Outdoor-Billboards ed by the fact that commercials are heard an organization serving over 500 families gy on the Legislature rather than the Outdoor advertising now has a quick and not seen. The last con is that at some in Dutchess County and employing 350 Board because this was “not your idea” turnaround time, because of the new times of the year, there are so many ads people. This tax penalizes our organiza- which seemed to allow you to abdicate materials used for billboards. Where once running that the listener “shuts them out.” tion to the tune of about $30,000. Now any accountability. (Interesting that the it would have taken eight weeks to devel- Newspapers this may not sound like a great deal to comment was made after our Legislative op and produce a billboard ad, today it can Newspapers get wide exposure and you, but in our community, it is someone’s Representatives who spoke against the tax take less than one week. Billboards have significant reach, especially to job. had left the hearing.) But moving on … require no effort or action on the part of upscale audiences. The technology avail- Our agency spends $.91 of every dollar the idea was clearly seeded by the MTA. the viewer, in order for a viewer to be able today, makes ad time preparation rel- we receive on our programs and services. You presented a budget with insufficient reached with the marketing message. atively quick. The advertiser can, if they We are an agency with a reputation for revenue and said, “help.” Your budget set Billboards are highly visible and particu- choose, run the same ad, simultaneously, quality, compassion, and efficient use of the stage for the Commission and the larly appropriate to targeting a very spe- in several newspapers, reaching different public dollars. When projected costs Legislature to find a solution for you. cific audience. audiences. Newspapers remained the best exceed expected revenue we do not have As an employer in Dutchess County I This media too has its cons. The adver- suited for disseminating detailed informa- the option of looking in other peoples’ am deeply concerned and urge you to tiser is subject to legal restrictions in the tion, especially so with complicated prod- pockets. We go without raises, reconfig- exercise leadership, and take responsibili- area in which it would be preferable to ucts or services. ure and attrition positions, lead, and man- ty for creating an alternate solution to advertise. There are also, in several states, Audiences continue to read newspapers, age. We are experts at doing more with address this shortage. This responsibility bans on such advertising, because the but many are doing so, online, as apposed less. We have tightened our belts! belongs to you rather than the business population sees them as aesthetically to actually holding the paper in their That said, I find it exceptionally offen- and nonprofit community of the Hudson offensive. hands. During certain seasons, the news- sive that my organization along with my Valley. Radio paper is filled with so many advertise- colleagues in the Hudson Valley, are being Thank you, Radio advertising has approximately ments for audiences to focus on individual expected to accommodate your budget Crys McCuin, Executive Director the same reach as television, except for ads. The newspapers which are fairing the shortfall. Most organizations at this point Dutchess ARC the fact that the number of hours that best are those which reach niche market. Hudson Valley BUSINESS JOURNAL March 9, 2009 -9 Opinion What works? The word “depression,” which I was expanding credit. That’s why the biggest Downtime using a year ago, is the only thing about interest cuts people have ever seen plus the economy that is gaining currency. This hundreds of billions spent on bank with David Haggith dismal word has now flopped off the lips bailouts have accomplished nothing. of General Electric’s CEO and Great Moreover, that additional debt is passed Britain’s Prime Minister like a dead fish. to the next generation, but it gives that dollars in value-added assets — new rail end of January confirmed that the final Another D-word, “denial,” still holds the generation nothing in return for the bill. systems, repaired highways, new schools, quarter of 2008 saw a drop in consump- teeth clenched when it comes to speaking What does the next generation care if etc. The debt handed to the future is offset tion of American goods that can only be the word “depression.” We only speak that Citigroup still exists? They will still have by their cost savings in not having to build matched by one other quarter since word looking backward because no one banks. Passing our mountain of bad debt those things. records began at the end of World War II. likes to admit they’re currently depressed. into the future may come to be seen as the By way of example, my parents grew In spite of these enormous job losses, It’s fine to talk about later when the wine most selfish act any one generation has up through the Great Depression. My the “government of change” is putting the is pouring. Our great denial right now is to foisted upon another in order to avoid its father still raves at how the CCC (Civilian same old pork fat in its stimulus bill when think we are witnessing the burst of a real- own pain. Conservation Corps — one of the WPA- we need all muscle. Here are some exam- estate bubble. We are not. We are witness- What works type projects created by Roosevelt) kept ples: $335 million for sex education. (I ing the failure of an entire economic Let’s hope “the government of change” him alive with the only sustainable don’t think the stimulation here is eco- model. Recessions correct market bub- did not mean putting a little change in employment he could find. As the next nomic, unless it’s to create jobs in the bles. Depressions correct failed people’s pockets with more tax breaks that generation, I benefited in the 70’s when I world’s oldest and most stimulating occu- economies. are just one more bill to hand to the future. attended a high school built under the pation.) Over half a billion dollars to help What doesn’t work With jobless claims now at a twenty-six- Works Progress Administration in the people switch to digital T.V. (I suppose When the expansion of debt ends, the year high, the government’s stimulus plan Great Depression. I traveled over bridges with so many people out of work, the gov- economic expansion built on debt ends. should focus entirely on job creation as built by my grandfather. I hiked on trails ernment gurus figure there will be a lot of You cannot expand the capacity of indi- the path to avoid suffering. In a true- created by my father. The WPA produced couch potatoes needing public assis- viduals to increase debt forever by loosen- wealth economy, wealth is created by over half a billion miles in roads, 125,000 tance.) $70 million to help people quit ing the terms of credit. Debt was our eco- good-paying, sustainable jobs that give public buildings, 75,000 bridges, 8,000 smoking. (The government should realize nomic foundation, and it has failed. We rise to the ownership of durable goods. parks and 800 airports. My alma mater that money will need to be spent on drink- were fundamentally unsound. Assets are accumulated that can be passed was recently renovated into the most ing problems.) Unfortunately, the new U.S. government to the next generation, not debt. Those modern school I’ve seen because its These are not durable assets, so they talks of change but clearly doesn’t know jobs are not created by investment breaks. essential structures were still rock-solid. hand nothing to the future in exchange for how to change. Most of its recovery plan They’re created by demand for the goods. So, it has become an asset handed to yet the bill. While some of these may be wor- is aimed at bailing out the old economy to In this case, government demand. another generation. That’s wealth accu- thy ideas in good times, they are frivolous get it to float again, but you cannot bail Only one kind of enormous deficit mulation, instead of debt accumulation. additions to a critical bill that should be out a ship that is already underwater. We spending can create a new economy that Reality today nothing but lean meat in jobs that produce need to build a new economy that is more does not damage the future — spending At the beginning of January, I predicted durable assets. Their inclusion demon- durable model and let the old ship rest in money now to build and repair things that that those long lines at Walmart over the strates that the reality about depression the sand bars of history. the next generation will have to build and Christmas season meant nothing. While has not sunk in, nor has the reality about Instead, the government’s program aims repair anyway (the creation of very sales volume appeared O.K., it was only the bill we are handing to the future. Some at stimulating debt-based consumption all durable goods). By that path, we hand the because goods were being sold at no prof- of those future people may wish a few of over again, but you cannot solve a funda- next generation the trillion dollar bill, but it. As soon as those cheap goods were us had died of smoking. mental problem of excess debt by re- we also hand them more than a trillion cleared, nothing sold. Data released at the What is IBOR? The purpose of IBOR is to protect publicly traded entity has a right to share financial markets and to create self-suffi- in the growth and profits of the business in Open Mike cient investors who produce economic the same manner as highly paid employ- growth instead of government deficits. ees. IBOR standards create transparent finan- Section Eight: Corporate Financial This week: Steve Selengut cial markets, regulate speculation, and Statements. protect retirement portfolios. Here’s a Section Nine: Taxation Considerations. board will be established with representa- tion with Claus Silfverberg, Managing sampling: Investors have a right to formulate their tives of regulatory agencies, investor Director, World Federation of Investors Section One: Product Transparency. All investment and retirement plans without associations, academia, the media, and Corporations — for the whole thing, investors have a right to see precisely having to worry about changing tax code just one person each from Banking, google the title. what securities are inside any investment requirements. IBOR compliant retirement Brokerage, Insurance, and Investment product by accessing real time informa- plans would be exempt from taxation. Banking. Steve Selengut is the author of “The tion that includes names and cost-based Section Ten: Financial Industry Section Twelve: Transactional Fear and Brainwashing of the American Investor: allocation percentages. Restructuring. Greed Controls. The Book that Wall Street Does Not Want Section Two: Regulation and Section Eleven: Global Reform General Note: The above is a summary YOU to Read”, and “A Millionaire’s Education. Investor Protection and Education Board. of the October 2008 SIBORAP report, Secret Investment Strategy” Section Three: Protection from A 15 to 25 member multi-national GRIPE published by Steve Selengut, in collabora- http://www.sancoservices.com/ Speculators. Investors have a right to pro- tection from risks added to portfolios without their control, knowledge, or per- mission. Letters continued from page 8 Naked shorting, index fund ownership of large share positions, and all naked option transactions would be prohibited. Selling wine in grocery stores is a bad idea Section Four: Controls of Hedge Funds. The New York State Professional Fire month, we mourned the death of a Suffolk impact it would have had on teenagers, Section Five: Brokerage Account Fighters Association, which represents County police officer as a result of a drunk and no state has passed this kind of meas- Statements. Investors have a right to fire fighters and emergency medical tech- driving accident. This tragedy, and those ure in 23 years. In Florida, California and account statements that: 1) help manage nicians from around the state has joined that involve underage drinking, should Texas, three states where wine is sold asset allocation targets, 2) report realized the Law Enforcement Against Drunk remind us that we must continue to find everywhere, the number of alcohol relat- gains and losses, 3) track cost basis and Driving (LEADD) coalition in its cam- new ways to reduce drunk driving. We ed fatalities per 100,000 is more than dou- net deposits, and 4) emphasize the long- paign against Governor Paterson’s plan to share the concern from LEADD that the ble that of New York State. Even worse, term, cyclical nature of the investment legalize the sale of wine in grocery stores, Governor’s plan will increase drunk driv- alcohol related fatalities of those under process. delis, gas stations, bodegas and anywhere ing and underage drinking. For that rea- age 21 are three times higher in these Section Six: Retirement Account beer is sold. son, we urge the State Legislature to reject states where wine is sold everywhere, as Investments. All too often, our members have seen this proposal. compared to New York which has inde- Section Seven: Executive the tragic impact of drunk driving when Last year, Massachusetts voters rejected pendently owned licensees, legally Compensation. Every shareholder of a responding to fatal car accidents. Just last a similar idea because of the devastating continued on page 11 10- March 9, 2009 Hudson Valley BUSINESS JOURNAL Newsmakers Anne E. Pitter joins Hartman & Craven LLP as Partner Anne E. Pitter has joined Hartman & Marks & Upham LLP. tors in connection with work outs, restruc- opers and management companies in Craven LLP, a Manhattan-based law firm In the corporate/business services area, tures, reorganizations, liquidations, and numerous types of real estate and com- established in 1921 that represents domes- she has worked in the areas of mergers, auctions as well as other asset sales. mercial transactions throughout the tic and international clients in various acquisitions and dispositions, equity In real estate, Pitter has expertise in the United States. practice areas, as partner. Pitter brings investments in joint ventures, partnerships areas of transactional real estate, includ- Pitter is admitted to the New York State significant legal expertise in and limited liability companies, employ- ing the acquisition, sale and financing Bar and the U.S. District Court for the corporate/business services, creditors’ ment agreements, licensing and distribu- (construction, permanent and mezzanine) Southern and Eastern Districts of New rights, workouts and restructuring, and torship agreements, and intellectual prop- of commercial and residential projects. York. She earned her undergraduate real estate law, clearly bolstering the erty issues, among many others. Her She also has significant experience repre- degree at the University of Rochester and firm’s respective practices in these areas. industries of focus have included media senting hotels, real estate investors, devel- her J.D. degree at Albany Law School. Prior to joining Hartman & Craven, and communications (cable television, out Pitter was a partner in the New York of home media and print), apparel and office of law firm Thelen LLP. Pitter sporting goods, insurance and real estate Fran Zoske joins CDPHP became a partner at Thelen LLP as a result brokerage, liquor and cigarette distribu- Fran Zoske, MSN, RN has joined tenure with Seton Health/St Mary’s of its merger with another prominent New tors, manufacturing, as well as private CDPHP as director, health promotion and Hospital. York firm, Brown Raysman Millstein equity and venture capital funds. wellness programs. Zoske brings more In addition, Zoske has held nursing Felder & Steiner LLP. Pitter joined Brown In bankruptcy/creditors’ rights, she has than 30 years of nursing and management positions in New York hospitals: Raysman as a partner when it acquired acted as a trustee and has represented both experience to her new post. Samaritan/Albany Memorial Hospital, several practice groups formerly at Baer debtors and secured and unsecured credi- Most recently, Zoske served as associ- Saratoga Hospital, University of ate professor and curriculum coordinator Rochester Medical Center/Strong for Empire State College Nursing Memorial Hospital, and St. Barnabas Friendly Honda earns Honda’s top Program. Prior to that, she was the Hospital, as well as University of Chicago founder and director of faith community Hospital and Clinics. dealership award nursing, a nationally acclaimed nursing Zoske holds a master’s of science Eric Kahn, owner of Friendly Honda dealerships to achieve even higher levels network for Seton Health/St Mary’s degree in nursing/organizational develop- has been named by American Honda of customer satisfaction. This year, 157 Hospital. The program introduced the ment from Arizona State University, Motor Co., Inc. as a recipient of the 2008 dealerships achieved these objectives and concept of parish nursing to the Capital Tempe, Ariz, and a bachelor of science Honda President’s Award. The award is ranked to merit Honda’s highest honor. District and achieved national “Best degree in nursing from Winona State presented to top ranking Honda dealer- Friendly Honda was the only dealership in Practice” status for health and wellness University, Winona, Minn. She is a pub- ships across the country and recognizes Dutchess, Orange, Putnam and Ulster promotion. Zoske developed an extensive lished author and national speaker on top- excellence in all areas of operation – cus- counties to receive the award. network of collaborative community ics ranging from health promotion and tomer service, sales, training, and facility “Earning the Honda President’s Award health programs, service organizations, wellness to faith community nursing. operation. takes a team of dedicated professionals and academic institutions during her “Being honored by Honda validates unwavering in its pursuit of superb cus- Friendly Honda’s commitment to provid- tomer care,” says Richard Colliver, exec- ing a unique car buying and ownership utive vice president, Automotive Sales at Robert A. Holtz joins CDPHP experience in which we strive to deliver American Honda Motor Co. “We are Robert A. Holtz MA, MBA, LMHC, health director, MVP Healthcare. He also unparalleled value and customer satisfac- proud to recognize Friendly Honda as one has Joined CDPHP as vice president, held behavioral health management tion. I want to thank my exceptional and of our Honda elite. See for yourself what behavioral health services. In his new capacities for Conifer Park, Kaiser hard-working staff as well as our loyal a difference working with a Honda award- position, Holtz will oversee, modify, and Permanente, and Community Health Plan customers for making 2008 a record winning dealership can make to your administer behavioral health operations at (CHP). breaking year despite a struggling econo- automotive experience.” CDPHP. He holds a master’s degree in business my,” said Kahn. Kahn purchased Friendly Honda, locat- “It is a pleasure to announce Bob has administration from the State University More than 1,000 Honda automobile ed on Route 44 in Poughkeepsie, in joined our growing team,” said John D. of New York at Albany; a master’s degree dealerships participate in the President’s October 2007. He is also the owner of Bennett, MD, president and CEO, in psychology from the State University Award program annually. Each year, Capital Volvo of Albany in Colonie, New CDPHP. “He brings nearly 30 years behav- of New York at Plattsburgh; and a bache- award objectives are established to inspire York. ioral health experience to his new post, and lor’s degree in psychology from Boston will be an important asset in maintaining University College of Liberal Arts. Bob is John Patrick Jackson earns ‘green’ the quality of mental health benefits licensed as a NYS Mental Health CDPHP offers to its membership.” Counselor and Certified Addiction LEED credential Most recently, Bob served as behavioral Specialist. John Patrick Jackson, Senior Project growth of green building and sustainable Manager for Arris Contracting Co., Inc. development in the construction industry” Wine in supermarkets continued from page 3 Of Poughkeepsie has earned the said Paul Tozzi Principle of ACCI. “John’s U.S.Green Building Councils Leadership accomplishment supports our firms com- Under the governor’s proposal, stores are more than 2600 liquor stores in the in Energy and EnvironmentalDesign mitment to energy efficiency, resource like Wal-Mart, Price Chopper and other state. (LEED) Accredited Professional Status. recovery and sustainable building.” supermarkets would be allowed to sell Another aspect of selling wine in super- The LEED Green Building Rating system Jackson has been working at Arris wine. The fear is that small liquor stores, markets concerns the age of cashiers and is designed to encourage energy and Contracting for the past 12 years. He often mom and pop size operations, would clerks in those stores. There is a good pos- resource conservation in the construction received his bachelors degree from Pace be put out of business. The buying power sibility cashiers as young as 14 or 15 and operation of buildings. University and earned his Master degree of the larger stores would hamper the abil- would be ring wine sales at registers. “Arris Contracting has recognized the in 2000. ity of smaller stores to compete on price. These young employees present a control Large supermarkets would buy in volume problem. Young inexperienced workers and display pallet quantities at low prices. could easily be harassed or talked into Small liquor stores do not have the space selling wine to older intimidating cus- continued from page 6 I want to be a welder for such large inventory buys or would tomers who may not want to show proper change the nation’s mindset on manufac- Association, International (FMA), a pro- have to drastically reduce offerings in order ID. turing. So many organizations now are fessional organization with more than to buy a few products in such volume. The state would receive a windfall in committed to make this happen and we’re 2,300 members working together to Opponents of the plan also say the end new license fees. However if 1,000 small beginning to see results. Applications for improve the metal forming and fabricat- result would not be any increase in rev- stores are forced out of business there our scholarships have reached record lev- ing industry. Founded in 1970, FMA enue to the state. Taxes make up almost would be a dramatic drop off in license els. Educators are paying attention. And, brings metal fabricators and fabricating 40% of the retail price of alcohol in New renewals in a s little as three years. young people are flocking to manufactur- equipment manufacturers together York. Opponents including liquor store License fees run about $19,000 for a three ing camps. through technology councils, educational owners in Columbia County claim any year term. Positioning industrial jobs as desirable programs, networking events, and the sales in supermarkets would be offset by States in which wine and liquor are sold and rewarding will fulfill specific needs FABTECH International/AWS Welding fewer sales at liquor stores. They claim in grocery stores have, according to oppo- of manufacturers and, without question, Show. FMA also has a technology affili- almost 4,000 jobs would be lost if super- nents and the State Liquor Association, strengthen our economy. ate, the Tube & Pipe Association, markets are allowed to sell wine. deaths from auto related accidents involv- Gerald Shankel is president and chief International (TPA), which focuses on the The New York State Liquor Association ing alcohol as high as three times that of executive officer of Rockford, Ill.-based unique needs of companies engaged in estimates that as many as 1,000 liquor New York. Fabricators & Manufacturers tube and pipe producing and fabricating. stores would be run out of business. There Hudson Valley BUSINESS JOURNAL March 9, 2009 -11 Datebook Locust Grove hosts fine art auction Over 125 of the Hudson Valley’s most trails, educational programs for children who is well known for his pictorial photo- April 21 from 10 am to 5 pm. A preview prominent artists have been invited to par- and preservation of the 40-room Italianate graphs of the Hudson Valley. Lindbloom reception and party with the artists start- ticipate in a spring art auction to be held in mansion. has also published a series of books and ing at 5 p.m. Friday, April 24 in the gra- collaboration with Poughkeepsie’s Locust The concept for this event was inspired has been featured in prestigious museum cious West Gallery at Locust Grove, free by the annual Woodstock exhibitions. Former member of George to the public, will highlight the week long Artists Association and Balanchine’s New York City Ballet com- preview. Museum Labor Day pany Jurg Lanzrein will also be a featured An online catalogue will be provided, Weekend Auction, which ceramic artist. After changing careers and phone and order bids will be accepted Cox has co-sponsored for from dance to art in 1971, the Swiss born from those who are unable to attend the the past six years. artist went on to create exclusively for auction. For more information, contact Artists with studios along Tiffany and Company. His work has been Locust Grove at (845) 454-4500 or visit the Hudson River from featured in Architectural Digest, Elle and the website at www.lgny.org. Troy, throughout the Valley House and Garden. Locust Grove is located at 2683 South and as far south as New A full preview of all works up for auc- Road (Route 9) in Poughkeepsie, just 2 York City have been invited tion will be on view starting Tuesday, miles south of the Mid-Hudson Bridge. to offer work for the benefit auction. Included among Hudson Valley Vegetable School returns in 2009 this distinguished group is best selling author/illustra- Cornell Cooperative Extension of Verification Program, and updates on veg- Grove Historical Site and the James Cox tor James Gurney, noted for his popular Ulster and Orange Counties invite com- etable pest research. Gallery at Woodstock. The Sunday, April and lavishly illustrated Dinotopia book mercial vegetable growers to attend the Registration begins at 9:30am the day 26 event will be held at 1 p.m. at Locust series. His entry in the Locust Grove auc- 2009 Hudson of the event, seat- Grove’s new Visitor Center, designed by tion, Poet’s Walk, was recently returned Valley Vegetable ing is very limited renowned architect Jay Hibbs. from a year long exhibition at the School. This day and pre-registra- Proceeds from the April sale will bene- American embassy in Switzerland. long event will take tion is encour- fit Locust Grove, supporting its free pub- Among the region’s photographers rep- place on Tuesday, aged. The cost for lic access to the site’s gardens and hiking resented in the sale is Eric Lindbloom, March 24, at the program is $50 Banta’s Steak and per person, if pre- Stein located at 935 registered by Maple Weekends show off local sugar at Union Avenue in March 20. New Windsor. Registration is Frost Valley YMCA Expert speakers $70 after March It’s Maple Sugar time at Frost Valley where sugar maple trees grow, making it a from Cornell 20 (including by YMCA with two open house weekends truly local product. Frost Valley’s own University and phone) and at the planned at the Sugar Shack on March 21- brand of syrup will also be for sale. industry profes- door the day of the 22 and March 28-29. For more information, email: sionals will cover nutrient management, event. Fee includes lunch and hand-outs. This free event runs from 9 a.m.-4 p.m. [email protected] or visit: www.frost- environmental and production benefits of For more information or to pre-register daily, with tours every half hour and activ- valley.org. zone tillage, the Department of call Teresa Rusinek or Jenny Burkins at ities throughout the day. Guided Agriculture and Markets Fresh Produce 845-340-3990. seasonal activities will also be plentiful for overnight guests. Putting a smile on a faceless company Maple Sugaring Weekend is a special time in the forest of the The Business Marketing Association’s Advertising Award. Catskills High Peaks, where March meeting will feature John Lonczak, Dinner meeting will take place at the visitors can experience all the the Managing Directorphi-d - Ship Lantern Inn, 1725 Route 9W in elements of sugaring including Product/Brand Development. Lonczak Milton, NY 12547, from 6 to 9 p.m., mid-winter hike, brisk moun- will discuss how good branding and Wednesday, March 18. The cost is $35 for tain air, swelling buds, tapping design can solve a multitude of problems BMA-HV members, $35 for co-workers trees. Frost Valley demonstrates in marketing a small company and expand of members (accompanied by the mem- both traditional and state-of- its business opportunities. ber), and $45 for all others. You may reg- the-art collection of sweet sap Lonczak is the recipient of more than 30 ister at BMA-HV event registration or by and fuels the process with fire- patents and trademarks, two Industrial contacting Rebecca Jones, BMA-HV wood harvested with sustain- Designers Society of America/Business Treasurer, at the law firm of McCabe & able forest management prac- Week Gold Awards, the Package Design Mack LLP in Poughkeepsie, at (845) 486- tices. When the steam of evapo- Council Gold Award, and the London 6813 or [email protected]. rating water and the sweet taste of the spa Located at 2000 Frost Valley Road, arrives at 67 percent sugar, the maple eight miles from Claryville and 13 miles syrup is here! from Big Indian, Frost Valley YMCA pro- Letters continued from page 9 Frost Valley’s Maple Weekends give vides four seasons of outdoor, experiential responsible for preventing youth from York State Association of PBAs; Police families a way to experience Maple Sugar and educational opportunities. Activities purchasing alcohol. Conference of New York; New York State season firsthand, learn how to identify a include: summer camping for children, We welcome the support of the New Association of Chiefs of Police; New good sugar maple tree, tap trees, boil sap environmental education, year-round activ- York Professional Fire Fighters York City District Attorney Investigators to make delicious maple syrup. The north- ities for families and conference and retreat Association in our campaign against this Association; Police Conference of New eastern U.S. is the only place in the world facilities for groups and businesses. misguided idea. Like police officers and York; New York State Troopers PBA; troopers, these first responders must con- New York City PBA; Nassau County Murder, most intriguing… front the havoc wrought by drunk driving PBA; Suffolk County PBA; New York and underage drinking all over New York. City Detectives Endowment Association; Enjoy an evening of cocktails in The We urge the Legislature to work together New York State Sheriffs Association; Port Manor Room at Catlin Gardens, a lavish to reduce drunk driving, not make alcohol Authority PBA; New York City LBA; sit-down dinner, and the newest murder more readily available to teenagers. New York City CBA; New York State mystery performance by the National This proposal would give teenagers eas- Capital District Parents Who Host Lose Theater Group, Jest Mysteries. ier access to alcohol without the scrutiny the Most Steering Committee; New York Friday, March 27th that wine sellers and liquor stores provide. State Environmental Prevention Task Cocktail Hour: 6PM That’s a dangerous idea that will only lead Force; Choices 301, Inc.; Long Beach Showtime: 7PM to an increase in underage drinking and Medical Center’s Coalition to Prevent $49 per person drunk driving deaths. Underage drinking Underage Drinking; Western New York (includes tax & gratuity) is a serious problem and we must do all Prevention Resource Center at GCASA; Cash Bar we can to eliminate it rather than encour- Chatham Middle School SADD Chapter. Please call 845-355-3555, ext. 2 to age it. We urge the State Legislature to make your prepaid reservations. find a better way to deal with the budget Charles Morello For more information visit: problems. President of the New York Professional www.catlingardens.com. The LEADD coalition includes: New Fire Fighters Association. 12- March 9, 2009 Hudson Valley BUSINESS JOURNAL Kingston Mayor under fire for ‘discounting’ Hibernians BY GREG DRAISS security and traffic control provided by event. The celebration is held in the Patrick’s Day. Less than one week ago the Rondout the police department. Rondout area and brings in thousands of Gee added that businesses who are not Business Association cancelled plans for However, the Ancient order of party-goers who spend money in the in the drinking business close up shop to the annual Mardi Gras parade. The Hibernians were given a discount totaling Rondout Business area buying food and avoid the drinkers who may cause damage Association has sponsored the parade for $1000 in the charges for coverage for the drink. and get rowdy during the St. Patrick’s Day the last few years as a celebration of Mari- annual St. Patrick’s Day Parade held each Gee responded by saying that the Parade. Gras in association with the big party March in Kingston. B.C. Gee, President Rondout Business Association never Gee has asked the city to move other thrown in New Orleans just before the of the Rondout Business Association is sought credit for rescuing the fireworks events away from the waterfront since she beginning of Lent. Under a new policy, highly critical of the reduced fee. The portion of the Touch of Italy bash when claims businesses in the waterfront area the City of Kingston Police Dept. is no Mardi Gras Parade was to be held on the city came up short. are actually hurt by the crowds who take longer providing security or police pro- Saturday, February 28, and was, accord- Sottile responded by suggesting the up parking spots that would otherwise be tection for public events sponsored by ing to Gee, a much smaller event. uptown jazz festival be cancelled as well used by regular shoppers. In addition, Gee groups other than the City of Kingston Sottile defended his position by saying as he will never again charge by one cent said businesses would be better able to itself. The move is part of a plan to con- the Hibernians have always contributed money for civic events in the future. pay for their own events if the city’s trol costs in city departments. In the past, $1000 each year to help the city defray the Gee also takes issue with what busi- homestead tax structure were more fair to the police dept. would provide traffic con- cost of providing security and cleanup. nesses actually benefit by the St. Patrick’s businesses. Currently, businesses pay far trol and security for events. The security Sottile also claims to have single-handed- Day Parade. Gee claims that restaurants more in total tax dollars than residential positions were paid for mostly by over- ly raised in excess of $60,000 each year and bars are the only ones who really ben- properties under “The Homestead Rule”. time funds. Parade and festival organizers for the city’s Fourth of July celebration. efit. According to Gee parade goers only The city recently voted to change the are still permitted to have public events He claims he gets no help from anyone frequent bars and do not stop by other structure to shift the burden more evenly but are now being charged for police else with fund raising for the annual July retail shops such as antique centers on St. to residential owners. However, the change was not as big as Sottile wanted. Even with the smaller shift to residential properties the tax burden was to increase to residential properties by as much as 15 We’re not flashy percent . Sottile is a member of the Ancient order (and we’re not a flash in the pan) of Hibernians. Hudson Valley Hospital Center ‘tops off’ its latest project On February 26, workers lifted the Our mission was established some 22 years ago, highest beam into place, on the Hudson when we created a true business to business Valley Hospital Center’s $115 million expansion project. Called a “topping off” newspaper for the HudsonValley. ceremony, the event signals a milestone in every large construction project. The beam placed atop the four-story Patient Today, we continue to be produced in the valley by Tower, the cornerstone of the project was signed by all members of the hospital people who understand doing business community, including Board of Directors, here...because they live it every day. administrators, employees, and the con- struction crew and architects, will be lift- ed by crane and swung into place. As the beam was lifted, ambulance sirens blared, Each week, we ask our readers one simple question: confetti will flew, and an American flag was unfurled on the beam once it was put firmly into place. Did you learn something in these pages - and now on the “Even in these difficult economic times, Hudson Valley Hospital Center is moving web - that you can use to run your business or advance ahead with our ambitious building proj- your career? ect,” said John C. Federspiel, hospital President and CEO. “We are committed to building a new breed of hospital, offering our patients the most advanced technolo- gy available and the best care in this area.” When the Patient Tower opens next year, the hospital’s main entrance, lobby and coffee shop and groupings of com- No glitz, No glam fortable seating will occupy the first floor of this tower, along with an expanded Emergency Department. The top three Just Hudson Valley, Born and Bred floors will house 84 private patient rooms. Plans call for more natural light, better Orange Ulster Dutchess Sullivan Putnam Greene Columbia views to the outside, and a soft, calming color scheme, which benefits patients, ....and now Westchester families and staff. As Mr. Federspiel describes it: “Upon entering the first floor, one will experience a hotel-like atmos- phere, where a unique design will comple- ment the wonderful caring of our hospital staff, creating a life-affirming environ- ment for healing. ” The Topping Off ceremony will be followed this spring by the opening of the new state-of-the-art Institute for Wound Online at Care and Hyperbaric Medicine, offering patients suffering from chronic, non-heal- ing wounds the comprehensive care they www.hvbizjournal.com need, including hyperbaric oxygen therapy. What do these businesses have in common?

• Bethel Woods Center For The Arts • Mount Saint Mary College • Captainʼs Club Cruises & Tours • New York House Magazine • Child Care Council Of Orange • Orange Physical Therapy County • Pro-Air Heating, Air Conditioning & • Courtyard by Marriott/Hampton IQA Inn- Middletown • Real Estate United • David Lerner Associates • Rockland Graduate Campus-Long • Decks Unlimited Island University • Frontier Communications • Sapphire Title & Settlement Agency • Galleria At Crystal Run • Scotchtown Chiropractic & Physical • Hudson Valley Business Journal Therapy • Ice Time Sports Complex • Serrano II, Inc. • ITʼSNOTAPAIN.COM • Skinprint • Jet Black Asphalt Sealing & Repair • Spencer Financial • Mass Mutual • WGNY/FOX 103.1/96.7 Radio • Middletown Medical • William A. Smith & Son, Inc. • Monticello Gaming & Raceway They’re all sponsors of the 2009 Annual Buy Local Showcase

Presented by: ORANGE COUNTY Chamber of Commerce Saturday April 4th, 2009 Galleria at Crystal Run, Middletown 10:00 AM - 5:00 PM

See nearly 70 companies display their products and services. Great give-aways and hands-on demonstrations throughout the day.

Itʼs not too late to reserve your vendor spot – Orange County Chamber members only (845) 457-9700 www.orangeny.com [email protected] 14- March 9, 2009 Hudson Valley BUSINESS JOURNAL County lawmakers adopt new DCC teacher contract By Rich Flaherty settlement, are losing their paychecks and professional staff to pay more for of stolen metal items. Phil Kirschner of POUGHKEEPSIE - A new three year with potential for thousands more jobs health insurance, including higher Charles Effron & Son thanked the county contract for teachers and professional lost over coming months.” He said those deductibles and co-pays. Norton said the legislature for its effort in creating the staff at Dutchess Community College that have jobs are sacrificing to stay new health insurance plan will save the local law. “Being open minded and every- was approved last week by the full coun- employed. “Families who still have jobs county between $175,000 to $225,000 one’s best interest,” he said. “Law ty legislature. The package is retroactive are getting small if any raises, and worse, per year for each year of the contract. enforcement was helpful.” to September 1, 2008 and expires on some are being presented with wage cuts “We (teachers) probably pay the most County lawmakers also approved the August 31, 2011. all across the private sector.” (health insurance) in Dutchess County of appropriation of $101,000 to purchase The agreement calls for a 2.01 percent He questioned if lawmakers were all the school districts.” updated photos for the county’s GIS web- pay hike the first year, 2.11 percent the aware of the financial impact. “Does the “This means that we will be able to site. second year and a 2.33 percent increase Legislature have a plan to close the cur- have a contract with our faculty and pro- The legislature also approved a meas- in the third year. The contract covers 513 rent $1.8 million in funding reduction for fessional staff,” said Dr. D. David ure to take certain actions under state full and part-time employees. DCC under the current state budget pro- Conklin, President of Dutchess environmental law to permit the continu- Legislator James Doxsey (C-Town of posal? No.” Steinhaus called for new Community College. “The current agree- ation of the “Runway 24 End Obstruction Poughkeepsie), was the only member of negoiations for the labor agreement. ment expired in August of 2008. We Removal Project” at the Dutchess County the legislature who voted against the con- “This contract needs to go back to the haven’t been without a contract for sever- Airport. The project began in the late tract last Wednesday evening. “Only negoiating table and reflect the financial al months, so it’s always nice to have a 1980’s in removing certain trees. A public because I don’t believe at this fiscal time reality confronting the families and busi- contract.” hearing will be held in the future. that we can afford the increase in the nesses of this county who are expected to The county legislature also approved a The county legislature also appointed teacher’s salaries.” He said the pay hike pay for this union agreement - one that is new, scrap metal law in an effort to com- Michael O’Connor and Krista Gobins to would cost the county roughly $440,000 far too rich for the taxpayer’s wallet.” bat the growing theft of metal that is sold the Citizens Advisory Committee on for three consecutive years. “I’d like to “We are still the lowest paid (teachers) as scrap. The local law was crafted to Domestic Violence through June 30, see the teacher salaries frozen right now in the county,” said Joseph Norton, deter the recent rise in thefts from busi- 2009. when people are losing jobs and homes,” President of Dutchess United Educators. nesses, construction sites, churches and And county lawmakers also approved he added. “The economy is bad and we took a very homes. proposed activities and funding for the Dutchess County Executive William R. austerity type approach,” he said. “We The law requires scrap metal proces- Dutchess County Stop-DWI Program for Steinhaus released a memorandum last also stepped up to the plate and realize we sors to conduct an identification check of 2009. week against the labor agreement. have to do the best we can for our stu- individuals, record the name of the par- “Thousands of families, that would be the dents and for the county.” ties, record the description of the proper- taxpayers expected to pay for this union The new contract calls for the faculty ty to be sold to help combat the marketing Do you Tweet, Link, Payroll tax continued from page 1 YouTube or Facebook? New York.” Maureen Hallahan, Executive Director Central School District stands to lose You will soon… Terrence Olivo, COO of Orange Ulster of the Orange County Partnership pointed $160,000 if the tax is passed. She offered BOCES said, “Orange Ulster BOCES and out the new tax sends the wrong signals to a suggestion to the board – pricing zones BY DYLAN SKRILOFF its component school districts oppose the business people in New York who already as many other cities have. The further you Author, blogger and new media/social payroll tax in the strongest possible terms. face some of the highest tax burdens in the go the more you pay. She also put the media expert Lena West was the guest It will be $2.2 million from [Orange country. gauntlet to the MTA Board. speaker at a recent meeting of the County] school district’s budget. That’s “The message is – locate your business “Maybe reduce administration staffing. Rockland Business Association the equivalent to 35 to 40 new teaching somewhere else. We need to draw a line in Put your own house in order. Do an Technology Initiative. West informed and positions. Orange County businesses will the sand and say no more taxes. The for- audit,” she said. inspired the forty or so RBA members have the privilege of paying twice, once mula is broken. New York has to stop bit- The MTA videotaped the three-hour who turned out to learn how they can through their payroll and once through ing the hand that feeds it,” she said. hearing and it is posted at www.mta.info. make better use of social media. their school tax.” David Ping of Health Quest, Vice The hearing was the last of nine regarding Social media sites allow users to create Tony Marino, Orange County President of Strategic Planning and plans to raise fares and tolls and cut serv- profiles that offer window’s into their per- Legislator, 17th district said, “The MTA Business Development, said his organiza- ice to close their 2009 budget gap. The tax sonality or professional activities, includ- already receives its fair share of taxes tion will be among those hardest hit. For hike was proposed by the Governor’s spe- ing regular updates. It creates an online from Orange County,” listing several sur- Health Quest the tax amounts to cial Ravitch Commission. Action is reservoir of constant interaction. charges that are levied on the agency’s $880,000. Considering the state is also expected from the MTA by March 25. The Websites such as myspace, facebook, behalf. “Overall Orange County ridership cutting Medicare and Medicaid reim- Board hearing took place at the Hilton linkedin, twitter and youtube, as well as is probably the lowest in the twelve coun- bursement to the hospital by $2,000,000 it Garden Inn in Newburgh. online tools that monitor online conversa- ty region. I question why such a low rid- represents a significant overall burden. tions (buzzlogic and radian6), google ership justifies the right to tax.” Elizabeth Blashka said the Valley alerts, TweetBeep and RSS feeds would be considered social media. West sought to remove the negative County executives continued from page 1 stereotype regarding social media that a culture of innovation within the halls of Fishkill into the unemployment lines. together as a region (in opposition) as says it depersonalizes and dehumanizes county governments to deal with the myr- The last time around, the valley took the never before. Hopefully, we can continue social interaction. iad of problems having too little revenue hit to its workforce and economic base to think and act as a region in the “All social media does is facilitate to deal with too many issues puts on their and, in time, grew a multitude of new future…on so many other issues.” human interaction in a streamlined, effi- plates. small businesses to absorb many of the Sharing municipal services between cient manner. It allows me to talk to you “It goes beyond having the staff remove laid-off workers. Now, with the Wall counties is one way all the executives felt in a more authentic way. If you focus on every other light bulb in the county build- Street crash and the credit crunch, many a new kind of regionalism could be the human aspect you are going to win ing,’ said Diana. (a move he took last year, small businesses are finding it difficult to achieved. with social media every time. Think of saving thousands in electric bills). “You access cash flow. The valley is bracing for “In case you didn’t hear, we just spent a social media as a cocktail part. Be authen- have to always be thinking about how you even more lay-offs. lot of money on a new jail,” Ulster County tic, people can see phoniness,” she said. can trim costs or do something differently Meanwhile, the state budget proposed Executive Mike Hein quipped, referring West gave tips on how business owners to save money.” by Gov. David Paterson offer further chal- to one of the biggest boondoggles in the can start to create a plan of action to use Dutchess County Executive William lenges for county leaders. Cuts in every- county’s history. “Now we have extra social media. First deciding which tool Steinhaus noted that the recent economic thing from its share of Medicaid and beds, and could even renovate another suited them. Choices include – blog, pod- setbacks are, indeed, severe, but it’s noth- Medicare payments and cuts in education building (the old jail) to hold 200 more cast, video, wiki, widget and the afore- ing the valley hasn’t lived through before. funding are only two of the areas that the inmates very cost effectively. Why mentioned websites and implements. She “We’ve been through this before, and executives see as being especially diffi- shouldn’t nearby counties house their suggested the internet could be used to survived, and we will again,’ he said. cult for them to deal with – if that propos- overflow with us?” create forums where a business’ cus- “From the 1950s to the 1980s, we were an al passes in the state legislature. Others noted that it might be possible to tomers could talk to each other. Dave IBM company town…..I was welcomed A proposed new payroll tax to help the develop large buying consortiums to bar- Heinrich, President of Smart Money into office in the late eighties with a notice MTA (Metropolitan Transit Authority) dig gain better for many of the goods and Mortgages in West Nyack said he found that IBM was re-locating most of its oper- out of its hole also angers the executives, services every county needs to contract the presentation helpful and that his com- ations elsewhere.” as they see it as another way the state and for. pany was looking to get more involved in Last month, Dutchess County – and MTA is trying to force them to pay for On one thing, all agreed: with looming the internet. “This was great,” he said. indeed the whole Mid-Hudson Valley – New York City’s problems. (see top story deficits on all levels, anything the coun- West is the owner reeled once again from another massive on page one). ties can do to tighten their respective www.xynomedia.com and offers a free lay-off at IBM which, once all the heads “There is one small spot of blue sky in purse strings and keep their counties “Social Media Strategy Blueprint” to sub- have actually rolled, will put hundreds of this, if it goes through,” Pattern president afloat is going to be on the table in 2009. scribers along with her regular publica- more people who once worked in East Jon Drapkin noted. “It has brought us tion, The X Dossier. Hudson Valley BUSINESS JOURNAL March 9, 2009 -15 Banking & Finance U.S. Venture capital investment slips in a tight market

BY CHRIS MILLER innovation are being affected. He noted In the Hudson Valley, small business is and from where,” he said. After three strong quarters of resistance, that many seem to want to talk about the foundation and if there is no money or Neumann said that HVCFI maintains a private equity fund-raising stalled to a vir- major investments in alternative renew- proviso for small business, stated well-established Rolodex of contacts from tual standstill in the fourth quarter of able energy but the economic crisis is pre- Neumann, than that becomes an impedi- private investors, angel investors, venture 2008. Numbers from the Dow Jones venting anyone from stepping up to the ment. capitalists, and private equity. He said that Private Equity Analyst reported that 99 plate and taking a swing. Neumann said that although that early it has become increasingly more difficult funds raised approximately $43 billion in “Even the stimulus package that was stage investing could be the most lucra- to help fund the emerging companies that the fourth quarter, which was a significant just announced has no provisions, or any tive, it is always the riskiest. are looking for capital from $100,000 - $2 decrease from the almost $100 billion that we could find, for early-stage emerg- “The investment community, right now, - $3 million, stating, “It’s a tough bucket raised by 208 funds during the same peri- ing companies in that dollar figure,” is very gun shy. There are many investors to fill right now.” od in 2007. explained Neumann. “Nor does it provide that have lost a lot of money and there is The HVCFI Managing Director said Overall, the $265.6 billion raised with any tax incentives for investors looking to a lot of money sitting on the sidelines that each day the organization is dealing private equity funds in 2008 was 18 per- get involved.” waiting to see what’s going to shake out continued on page 19 cent below the 506 equity funds that raised $325 billion in 2007. Fundraising by U.S. venture capitalists plummeted last quarter, marking lows that haven’t been seen since the industry start- ed to recover from the dot-com bust. 2008 fourth quarter Venture capital investment in U.S. companies accelerated its descent with 554 deals accumulating only $5.5 billion. The figures showed a 30 percent drop from the $7.9 billion invest- ed in 718 contracts during the same peri- od in 2007. According to statistics released in January by Dow Jones VentureSource, the fourth quarter of ’08 was the lowest investment period the industry has seen in three years. 2008 saw 2,550 agreements come to fruition and $28.8 billion in venture capi- tal invested in U.S. companies, again down from 2007 figures. 2008 showed an 8 percent decline from 2007’s $31.4 bil- lion investment in 2,823 contracts but managed to squeak by the 2006 figures of $28.2 billion. According to a report for venture capi- tal initiatives in 2008, the New York met- ropolitan region saw investment climb 11 percent to roughly $2 billion with a total of 201 deals completed. Very few areas of venture capital investments have proved to be immune from the economic crisis that spiraled put of control by the Lehman Brothers bank- ruptcy in early September and reports suggest that what we’ve been hearing for some time to be true. The slowdown is expected to continue well into 2009 and most venture capital firms are waiting until the markets stabilize to go and raise funds, and many won’t need to fundraise for another year or two. Venture firms have been squeezed and their limited partners have seen the value of their own holdings drop as the stock market crashed – changing the way they do business. Lately, venture firms are forced to hold onto startups longer than they would in better times because it’s become increasingly more difficult for companies to go public. That translates into less available money for new companies. Reports suggest that well stocked ven- ture-backed companies in the traditional areas of investment like IT and health care are seeing predictable pullbacks. Venture capitalists were still eager to put capital to work in burgeoning areas like energy and consumer goods, which saw record investment in 2008. This year could tell a different story for alternative energy, according to Hudson Valley Center for Innovation (HVCFI) Managing Director Les Neumann. HVCFI, like many organizations that rely on investors, is faced with the diffi- culties of finding funding for a multitude of projects in difficult times. Neumann said that from his standpoint all sectors of 16- March 9, 2009 Hudson Valley BUSINESS JOURNAL Banking & Finance Credit Unions announce increased lending New York credit unions report that they today’s economy are finding affordable “As talk continues about HSBC elimi- unions, which are open to and true to peo- are actively lending while other financial credit access at their credit unions. nating personal loans, we want everyone ple from all walks of life. institutions have dramatically reduced Natural person credit unions, where to know that New York credit unions, as For more information on credit unions, their lending portfolio. As recently as last more than 90 million Americans now save well as those across the country, will or finding one that’s right for you, visit week, in fact, HSBC joined the pack as and borrow, are well-capitalized; their 11 actively be continuing to lend in 2009, www.CreditUnionsForYou.com. word of their plans to scale back, or pos- percent capital-to-assets ratio exceeds the staying true to their original mission, ‘not The Credit Union Association of New sibly eliminate all consumer lending in 7 percent federal requirement. This is due for profit, not for charity – but for serv- York has served as the trade association the states, as well as close hundreds of to credit union’s conservative, responsible ice,’” said William J. Mellin, president for the state’s credit unions for 92 years. It branches here was reported. lending practices – the same practices that and CEO of the Credit Union Association is the fifth largest association in the coun- Amid the recession, New York credit have prevented credit unions from being of New York. try. New York credit unions have assets of unions increased their lending by 8.1 per- severely impacted by the ongoing mort- Consumers looking for a safe financial more than $43 billion and 4.2 million cent in 2008.* That number suggests that gage crisis that set off the current financial harbor and sensible lending practices need members. To learn more about the more and more consumers struggling in meltdown. look no further than their local credit Association, visit www.nyscul.org. CUSTOMIZED BUSINESS BANKING “Mom and I are always cooking up something. Good thing our bank isn’t into cookie-cutter solutions.”

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PRO943_BizServices_9.875x14_HVBJ_4C.indd 1 2/27/09 11:38:29 AM 18- March 9, 2009 Hudson Valley BUSINESS JOURNAL Banking & Finance Factoring can be an option when traditional financing isn’t

BY CHRIS MILLER explained Sierra Capital Inc. President business owns, and that is the accounts based on ten day increments,” she said. Many small business owners, start-up Sally Stark-McGlynn. “A factor does not receivables.” “We are seeing a slight upward trend that businesses, and entrepreneurs know first lend money, we buy an asset that a small Stark-McGlynn, a credit analyst for 25 the payments are taking a little longer to hand the struggle of attaining capital to years, said she determines what assets to come in than they did six months ago.” finance the growth of their business or to purchase by her client’s customers’ ability Stark-McGlynn said that prior to be a meet cash flow shortages. With the cur- of repayment. Accounts receivable factor for any business, they’re spending a rent economic and industry conditions, financing companies serve as an interim longer period of time to confirm the taking the accounts receivable funding or long-term replacement for convention- invoices. She said her firm also is an plunge could be the difference between a al bank relationships. Stark-McGlynn accounts receivable management program company’s survival and growth and that noted that a Sierra Capital factoring client that follows up on the invoices. of bankruptcy. is, usually, on a program for an average of “Part of the bang for their buck that Accounts receivable financing or “fac- 12 – 36 months. they get for their fees is that we’re doing toring” is a secondary market that is an The change of season brings in a a lot more follow up calls,” explained alternative to bank financing. Typically, a change of clientele looking to take advan- Stark-McGlynn. “I have an industry-spe- factoring client’s profile is that of a com- tage of the assets of their receivables. The cific software that tracks the number of pany that has been in business under two Hillsdale-based Sierra Capital provides days that the payments are outstanding years or of the entrepreneur that does not capital to several service industries, man- and allows me to perform a trends analy- have the necessary credit score to attain ufacturing industries, and some construc- sis.” bank financing. tion. She said that factoring programs are “What a factoring or accounts receiv- “I’ve found that entrepreneurs are good secondary markets that provide accounts able financing program does is go more at providing their specialty or service but, receivable management service, but com- on the basis that their customers can pay,” Sally Stark-McGlynn typically, don’t like to deal with the other paratively the fees are higher than the areas of the business,” said Stark- interest rates of banks because the money McGlynn when describing the other serv- is not being given to firms like Sierra ices her company offers, such as negotiat- Capital at prime rates. ing with vendors, suppliers and the IRS. According to Stark-McGlynn, accounts “We make sure they have enough money receivable financing in 2007 was an esti- to run their business based on their receiv- mated $140 billion industry. ables.” One of the criteria that Sierra Capital Generally, factors funded businesses looks for in its potential clients is a prop- grow at a more rapid rate than businesses er margin. She said that she wouldn’t take that rely on loans or lines of credit. For on a small business, start-up business or example, a $100,000 line of credit from a entrepreneur that doesn’t have the margin bank will not fund $400,000 worth of new to cover the factoring fees. contracts. However, $400,000 worth of “The factoring fees are higher than new contracts translates into available what they could get against the home account receivables that could cover pay- equity line on their house or traditional roll and fund company growth. bank financing,” she said. “I’ve had to Stark-McGlynn said one of her clients, turn people down. In order for this to a 40-year old company, didn’t have a make sense for a business owner their credit score problem that led them to her margins have to be more than 10 percent.” office. The well-established company Stark-McGlynn said that she has had needed to more cash on hand for the clients on the factoring program for as newly established contracts than their long a seven years and for as little as bank could provide for them. seven months, stating the length of time “That’s what a good factor relationship could be whatever the needs are of a spe- does – it stays with you when you’re in a cific company. She said she makes it a pri- growth period when a bank can’t keep up ority to spend a lot of time with her with the growth,” she expressed. “You clients, whereas the banker wouldn’t can’t keep going back to the bank every drive from project to project with their two months asking for another $100,000.” clients. Companies like Sierra Capital are see- “I have a construction client in the ing a distinct volume increase of foot traf- Albany area and about once a month I ride fic. Due to the fact that the large national around with her in her truck and look at banks are more scrupulous and have sig- her work. She’s so proud of what she does nificantly cut back in their lending, many and nobody in the banking community that were bankable six months ago now would give her the time of day,” said find they are not. Stark-McGlynn said she Stark-McGlynn. can she the constraints that the state of the She said that a factoring business is not economy is putting on her clients’ cus- in competition with the banks, rather tomers as well. institutions such as Sierra Capital help “Our fees are based on the number of incubate future banking customers and days that our cash is outstanding and is also keep them off the intercept list. Excess line brokers can file online Excess line brokers have an online tool ually. The system will then automatically to help simplify their lives this tax filing calculate the tax due. In addition, the season: an interactive online excess line online premium tax statement will be premium tax program provided by the available to brokers for future reference New York State Insurance Department. on the Department’s portal. This simpler, faster, and more accurate Excess line brokers who do not already method of filing returns is available free have access to the Department’s web por- to producers at the Department’s website, tal will need to obtain a Brokersite user ID www.ins.state.ny.us. from the department. Visit the The online system for excess premium Department’s website at line tax filing should help producers save www.ins.state.ny.us for more information. time and increase accuracy. Excess line The deadline for filing the excess pre- brokers using the system will actually mium line tax statement is March 16, need to enter less information than they 2009. would were they filling in the forms man- Hudson Valley BUSINESS JOURNAL March 9, 2009 -19 Banking & Finance

Ed. Note: The following is an Op-Ed written and submitted by NYS Insurance Department Director, Eric Dinallo. It reflects his take on the issue and is presented solely as such. Buyers should pay for bond ratings

BY ERIC DINALLO powerful incentives to bias ratings to keep Insurance Department estimates that for they remain independent of the issuers There has been a great deal of justified debt securities’ sellers satisfied and the less than two basis points (0.02%) per they evaluate. criticism of the credit-rating agencies that rating fees flowing. year on that $3 trillion, insurers in partner- I am co-chairing a working group of the gave triple-A and double-A ratings to bil- Consider that in 2003, on the equity ship with insurance regulators can pur- National Association of Insurance lions of dollars of debt securities that side, regulators entered into settlements chase transparent, conflict-free and cost- Commissioners that is investigating the clearly did not deserve these high ratings. with Wall Street firms to resolve conflict- effective ratings. Buyers have a strong suitability of the current rating system in Everyone agrees that something needs to of-interest issues between their research incentive to pay into a system that ensures insurance regulation. We will examine be done to prevent inflated ratings. But and investment banking divisions. Like the independence and accuracy of their issues including conflicts of interest, per- what? the rating agencies, equity research ana- ratings. formance, methodology and complaints A recent report by the Group of 30 lysts held themselves out to be objective Ratings will never be flawless — no for all accredited rating organizations cur- (international financial experts led by Paul in their analysis. But they were paid by the institution can have perfect foresight. But rently recognized by insurance regulators. Volcker) recommended that regulators issuers and their bankers. The regulators’ buy-side ratings will be conflict-free, and The collapse of confidence in ratings encourage the development of payment investigations demonstrated that the firms the process will be controlled by the paid for by sellers has caused and sus- models that “improve the alignment of and their client-issuers pressured equity investors that bear the long-term risk of tained the disruption in our credit markets. incentives” and permit rating users to hold analysts to provide bullish recommenda- the rated securities. Rating agencies with A buy-side system can finally restore rating providers accountable. Similarly, tions on their worst stocks. poor track records, errors or conflicts will integrity to a rating system that has lost Securities and Exchange Commission The solution is for investors to buy and not be trusted to serve and protect policy the trust of regulators, legislators, mar- head Mary Schapiro recently called for an control publicly available bond ratings. holders. And rating agencies will bid for kets, purchasers, the press and the public. examination of “ how the rating agencies Insurance regulators, who use ratings to contract renewals based on merit, so that It’s time for a change. are compensated, how they manage con- determine capital reserves for insurance flicts of interest, and what role they should companies, can contract with rating agen- continued from page 15 play in our markets.” cies on a competitive basis to provide Venture capital The insurance industry and its regula- public ratings of issuers and their securi- with new potential sources of invest- era. He said investors were flooded with tors can lead the way by implementing the ties. This approach would solve the con- ments, whether they’re regional, national, so many deals during that time and so only effective proposal: self-funded, inde- flict-of-interest problem, because the pri- or international. many possibilities that they could scruti- pendent buy-side ratings. Ratings, that is, mary users of the ratings are the ones who “The climate of risk enters into the nize which investment would work best that are paid for by the investors who use will be paying for them. process. The company that we’re looking for them and which had the potential of them. To fund a buy-side proposal, insurance for has to have a degree of risk tolerance being the next rising star. Rating agencies’ failures are not rooted commissions could collect a small fee that matches the companies and technolo- He feels, right now, there are so many in a lack of talent or insight, but rather in from insurance companies that hold near- gies we’re dealing with,” Neumann deals out there and that many people are a fundamentally flawed business model. ly $3 trillion in rated bonds, making them expressed. looking for start-up capital to early stage Those who issue the securities also pay the largest industry sector that relies on Neumann said the current investor capital, giving investors a wide range of for their ratings. This structure has created credit ratings. The New York State reluctance reminds him of the dot-com continued on page 20

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LFFQ continued from page 19 choices. Even facilities like HVCFI are not being funded and that becomes sympto- matic of where things are. A lot IDAs, EDAs and investors are looking very &ORBUSINESSBANKINGNEEDS 7ILBERS short term at their initiatives. Neumann ANAMEYOUSHOULDGETTOKNOW said that the only way the Hudson Valley would establish a technology focused 7ILBER.ATIONAL"ANK WITHOFlCESINUPSTATE infrastructure and foundation is to invest .EW9ORK HASBUILTA PLUS YEARREPUTATION in these small companies to help them become larger growth oriented companies OFSATISFYINGCUSTOMERSANDSUPPORTINGTHE that will hire skilled and unskilled labor COMMUNITIESINWHICHWEDOBUSINESS9OULLSEE over the long-term. HOWOURPRODUCTSANDSERVICESMEETTHENEEDS “The local economic development cli- mate is not suited to extend these small OFYOURBUSINESS companies in any way, shape, or form and private investors look at that and ask, ‘if 7EOFFER your own community isn’t going to get #OMMERCIAL2EAL%STATE&INANCING involved, then why should we?’” Neumann explained. &LEXIBLE,INESOF#REDIT The reluctance is very real among #ONSTRUCTION%QUIPMENT,OANS “angel” investors – private individuals %QUIPMENT,EASING that invest their own money in new busi- nesses. These angels have seen the values of their portfolios shrink dramatically dur- ing this recession and they are feeling less inspired to take chances. Neumann said that if some of these issues aren’t addressed the region runs the 7ILBERISREPRESENTEDINTHE(UDSON6ALLYAREABY0AUL(AKIM risk of losing a lot of the talent that cur- ABUSINESSDEVELOPMENTOFlCERINOURLOANDIVISION(EISWIDELY rently resides in the Hudson Valley. EXPERIENCEDINlNANCIALSERVICES WITHIN DEPTHBACKGROUNDIN Over the years, people have felt very REALESTATEANDPROPERTYDEVELOPMENT comfortable putting their money into Wall Street because that presented the longest !LIFELONGRESIDENTOF5LSTER#OUNTY 0AULKNOWS growth opportunity. Is the current state of THECOMMUNITIES BUSINESSESANDPEOPLEOFTHE Wall Street going to help investors shift to -ID (UDSON6ALLEYANDEASTERN#ATSKILLSREGION Main Street? “Many people out of work are going to #ALL0AULTODAYAT   ANDLETHIM try to start their own businesses focused KNOWTHECHALLENGESFACINGYOURBUSINESS on the industries that seem to be benefici- ary of what’s coming down the pike,” said Neumann. “Our claim is that those are going to be the small businesses with the talent but not the funding to grow. If we can’t help ourselves help Main Street, then we just can’t keep looking towards 
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 the government and all these external sources to help. Main Street is us.” Neumann said we can look towards the government for long-term funding but he believes the government should look towards economic development agencies to help them help Main Street. “That’s where I think we’re faltering,” he said. -EMBER&$)# Hudson Valley BUSINESS JOURNAL March 9, 2009 -21 Banking & Finance Customers need cash to resurrect auto industry BY DYLAN SKRILOFF going to the auto industry used to guaran- danger of closing. When asked about what he’s observed Raul Vazquez of Tampa, Florida has tee loans to consumers. Vazquez said, “I really didn’t expect that high of a regarding the economic model of the been the brains behind the ad and “GM lost $9 billion last quarter. How number,” said Vazquez. “They all have a United States, the marketing master said infomercial campaigns for American much more can they lose? All their plans pretty positive outlook toward the future. he’s learned a few things over the years product lines such as Juiceman, the have all these ways that are going to cut I think it’s because in the car industry, the and that he could be called the “ultimate Sonicare Toothbrush, Carleton Sheets, cost. Nowhere does it talk about where last big issue was back in and dealers are knower of what to do.” He imparted the the Ab Roller, Tiger Direct and the they are going to make money. Common resilient. They’ve seen this over their following line of sagacity. lifetime. They see this from time to time, “I find it amazing in this country, it happens, everything goes in cycles.” whenever we have a problem, then we Vazquez noted that the real estate and overreact to the problem and we are a car markets are connected in the econo- country that repeatedly repeats its mis- my. takes. People who have been around a “It’s amazing, a lot of the problems in long time know when they make a mis- real estate market are now effecting lend- take. I think that it can be fixed, but I ing in auto market.” Other effects on the think that the problem is that these industry have been that used car sales are bailout plans give appearance they are up and so the price of used cars are going being written by a budget department. up. Today dealers are keeping the trade- You can’t cut your way to survive the ins they get and selling them. There are problem. What are you doing to change? less cars at auction as manufacturers are No one is paying attention to what has to making a push to sell certified used cars. happen.”

Robert and Christina Fisher, owners of Echo Letterpress, a stationery shop in Jeffersonville, rely on Jeff Bank for all their business banking.

George Foreman Grill. These days sense approach is you are going to have Vazquez is CEO of Focus, a sales and to sell cars sooner or later. Why not, as marketing force in over 60 countries. Congress, we’ll give you money but this During the current economic crisis, much has to go to guaranteeing funds that Vazquez’s clients in the auto industry are you loan to consumers?” not only asking for his help marketing With a little marketing magic the eco- their product but locating lenders that nomic crisis also could be used for an will provide them money to lend to unprecedented turn toward American’s potential customers. buying American cars, Vazquez believes. “The auto industry situation is that “All they have to do is put a little spin every month since October you think it on this. It’s federally guarantee money can’t get any worse, but it gets worse. It and if you buy American your loan will has not hit bottom yet,” he said. be guaranteed. It really does come down Vazquez said he believes customer to the consumer, if you can’t give them demand is still high enough to support enough confidence to buy it doesn’t mat- the industry, it’s a lack of credit that is ter how much you cut cost,” he said. killing dealer’s bottom lines. Despite the massive problem in the “A lot of people don’t have money but market at the moment, a recent poll con- JEFF BANK . . . one thing we need in this country is a car. ducted by Focus of 600 industry insiders A trusted Sullivan County tradition. The demand for vehicles is not going found that the majority of car dealers down. The number one reason for low car were optimistic about the future. Jeff Bank has been a loyal partner to Sullivan County businesses since 1913. sales is people are getting turned down Included in the poll were over 200 gener- Today,with the help of our seasoned commercial bankers, businesses for loans. That makes people not want to al managers of big three [GM, Ford and receive the kind of quick, reliable financial service they need. show up, it’s embarrassing.” Chrysler] dealerships. In all 83 percent Because of our long history here we have an understanding of Vazquez wants to see federal monies said they felt their dealership was not in the local economy unmatched by newer or larger banks. We want to help your business succeed, because we are all a part of the same community. Helping

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22- March 9, 2009 Hudson Valley BUSINESS JOURNAL Banking & Finance USB still lending, still healthy BY THERESA KEEGAN That approach allows the bank to be business when it became obvious con- advice: Go see Ulster Savings. Word on the street may be no one’s proactive. And the result is they fill a straints in her home office were limiting With nothing to lose, she went. It was a lending, but at Ulster Savings things are niche by having a strong, active loan her landscaping company. She found an totally different experience with her loan running smoothly – and effectively. In department - despite the current economic abandoned store with a convenient loca- officer. fact, the company is embracing its cen- situation. tion for sale and realized it was a perfect “He made a decision on who I was, turies-old history of serving the business “We’re safe, happy and lending,” says fit. Yet the bank she was using at the time what my business was and how hard we client’s needs. After all, there’s no need Mike Shaughnessy, the bank’s executive refused to finance the endeavor. In fact the were willing to work.” for sub-primes and mega-mergers when vice president and chief lending officer. nationwide chain, with a local branch, The end result is that a dilapidated you already possess a winning record. That dependability and stability has rejected the loan without even reviewing cement block building is now a beautiful- “Community banks tend to go out of been a great asset to Victoria Coyne, the facility. ly refurbished retail shop and classroom their way to know their customers and owner of Victoria Gardens, a landscaping “It was so upsetting. I ranted to every- setting, thanks to the hard work of Coyne their businesses,” says Steve Hack, com- and retail shop in Rosendale. one I saw,” she recalls. And surprisingly, and her husband, Wayne Waddell. The 400 mercial loan officer for Ulster Savings. Six years ago she planned to expand her her tirades were often met with the same tires that were once dumped on the prop- erty have been removed and every spring the lot is replenished with lush landscap- ing that is for sale and also acts as inven- tory for the landscaping business. Her company is active in the chamber, landscapes public signs in Rosendale, holds educational gardening classes and hosts an annual quilt show, with proceeds going to local food pantries. And her more efficient business model also means that seven to 12 people are now employed by the company, depending on the season. “Ulster Savings has been great to me,” said Coyne. “We do business the old fashioned way,” Shaughnessy explains of Ulster Savings’ loan philosophy. “And keeping it simple has worked to our advantage.” The bank’s local knowledge, which has been built up since it first opened in 1851, also aids clients. Ulster Savings will often team up with other nearby funding sources to best serve customers’ needs. Funds from The Catskill Watershed Corporation, New York Business Development Corporation, the Small Business Administration and various government agencies are often used to complement the bank’s loans, says Hack. Also, the Small Business Development Corp, which operates out of Ulster Community College has been a great asset to people developing business plans and are a credible link for Ulster Savings. “They help people who are truly invest- ed in the process, and have a realistic opportunity to get there,” says Shaughnessy, adding that Ulster Savings also has a history of standing by strug- gling small businesses to make sure they ride out turmoil and emerge stronger. And despite current predictions of economic gloom and doom, the number of loan applications and approvals has remained consistent throughout all the branches (nine in Ulster, four in Dutchess, one in Greene and a loan officer in Orange County). When Cecilia Savona Madden opened her own business, Madden’s Fine Wines and Liquors, last year, she immediately turned to Ulster Savings to help with financing. “I’ve been banking with them for over 20 years, for both personal and business needs,” she says. “I know Ulster Savings cares about the people in their communi- ty.” They’ll do whatever’s necessary to help people succeed, explains the Kingston entrepreneur who knew her business plan had to be perfect in order to successfully secure a license from the New York State Liquor Authority. “I needed to get everything done very quickly. I sat down with the folks at Ulster Savings, explained what I needed to do, continued on page 23 Hudson Valley BUSINESS JOURNAL March 9, 2009 -23 Banking & Finance Business Week names Key Bank tops in customer service In its March 2 issue, BusinessWeek, Ritz-Carlton Hotels and Nordstrom. Key value for their money.” services typically offered only to large using data from market researcher is the only bank on the list. Like Key, top performers on the list are companies, as well as more protections J.D.Power & Associates and the maga- “We’re delighted to receive this award investing in technology that will improve against check fraud. zine, has named KeyBank one of its top from BusinessWeek,” says KeyCorp service. Key is implementing Teller 21, a 25 “Customer Service Champs” for CEO Henry L. Meyer III, “because it new service software, in its 986 branches About KeyCorp 2009. Ranked eleventh in the survey, says that our continual efforts to strength- across the country. The software is part Cleveland-based KeyCorp (NYSE: KeyBank joins a group of companies en customer service are paying off. We of a larger multi-year program to upgrade KEY) is one of the nation’s largest bank- including Amazon.com, Lexus, Apple, were rated on customer feedback about Key’s branches both physically and tech- based financial services companies, with multiple aspects of our bank, including nologically to provide more effective assets of $105 billion. Key companies perceptions of our employees. I’m proud customer service. Teller 21 includes a provide investment management, retail USB of everyone at Key for their part in con- robust check imaging program that has and commercial banking, consumer continued from page 22 tributing to our success.” made Key a national leader in image cap- finance, and investment banking prod- and that time was of the essence,” she In disclosing the Customer Service ture. ucts and services to individuals and com- recalled. “They directed me in the best Champs list, BusinessWeek noted the BusinessWeek also noted Key’s servic- panies throughout the United States and, financial solution and in a timely manner.” difficulty of maintaining good service in es for small business owners, including for certain businesses, internationally. The end result was that Madden Fine a shrinking economy. At the same time, Key Business Online, a powerful new For more information, visit Wines and Spirits opened its doors on the the magazine notes, “customers want technology that provides small business- https://www.key.com/ Rondout District, blessed with the Luck of more attention, better quality and greater es with many of the cash management the Irish, on March 17, 2008. And although it’s only been one year, Savona Madden isn’t one to sit on her laurels. “I have a lot of plans for the future, and I plan on going to Ulster Savings for that. They are looking out for me, and will help me achieve what I want to achieve. You’re not a number to them.” Hack credits the personal relationship With today’s tight lending market the loan officers develop with loan recipi- ents as making a difference. “We’re not just there when they have a problem, or need money. We see how their Where can your businesses are doing, so when opportuni- ties come up they think of their local bank.” Both Coyne and Savona Madden cite business borrow money? the benefits of dealing locally, in their banking options and for consumers – especially given the current economic tur- moil. “In today’s economy everything is scary,” says Savona Madden. “Sometimes Orange County Trust Company has money it wants to lend. it’s really better to take really good care of a smaller spectrum, than to spread your- Are you looking for a commercial mortgage, an equipment loan or a line of self too wide.” Coyne says that the buy credit? Has your lender left the area or reduced your available credit? We’re still local effort is good for people’s pocket- books, as well as the community. “People here, doing business just the way we always have. There is no credit freeze at are much more aware about shopping Orange County Trust Company. locally, and its benefits,” she says. Shaughnessy is quick to point out that Ulster Savings has been able to avoid sub- We remain strong and well-capitalized and are confident in our ability to prime problems and many of the issues continue to support the borrowing needs of our community. that plague larger banks by keeping its focus on the Hudson Valley. “We’re more conservative by nature and Orange County Trust Company is ready to fullfill the lending needs of small and not as bureaucratic as larger banks,” he says. Managers answer the phone and deal medium sized businesses. Call us or visit one of our branches. directly with clients. “We’re a community bank and we’ll always be part of the com- munity.”

Keegan is a freelance writer in the Hudson Valley. She can be reached at [email protected]. Find the HVBJ Media Kit

Member online @ FDIC orangecountytrust.com www.hvbiz Middletown: 212 Dolson Av, 33 Trust Way, 75 North St • 341-5000 Montgomery: 2093 State Rte 208 • 457-9020 Vails Gate: Big V Town Centre • 568-5501 journal.com Worthy of trust since 1892 24- March 9, 2009 Hudson Valley BUSINESS JOURNAL Banking & Finance The 2009 Stimulus: What you should know FROM WACHOVIA Giving taxpayers some relief The act will provide a subsidy for laid- who has not owned a principal residence Rousing the economy from its current New Tax Credit for Workers - Single off workers (and their families) who are in the past three years. The new act will let slump has proven more difficult than most taxpayers will receive a Making Work Pay eligible for COBRA coverage. The sub- a first-time home buyer claim a refund- of us ever imagined. Although credit of up to $400 on earned income; sidy will be 65% of the health insurance able credit of up to $8,000. There will be Washington’s moves in 2008 helped stave married taxpayers will receive up to $800. premium for up to nine months. This no repayment requirement for homes pur- off potential disaster, getting the economy This credit, available for both the 2009 means eligible individuals will pay only chased after Dec. 31, 2008, and before growing again has proven a vexing chal- and 2010 tax years, will be calculated at a 35% of the cost. It will be important to Dec. 1, 2009, unless the home is sold or lenge. The American Recovery and rate of 6.2% of earned income and phased contact your former employer to deter- no longer used as a primary residence Reinvestment Act (ARRA), enacted Feb. out for higher-income taxpayers (adjusted mine your eligibility for this benefit. The within three years of the purchase date. 17, is the government’s latest attempt to gross income [AGI] of $75,000 or more subsidy will apply to individuals involun- This tax credit will be phased out for “right the ship.” for single taxpayers, or $150,000 or more tarily terminated between Sept. 1, 2008, higher-income taxpayers, defined as AGIs This report features perspectives on the for joint tax filers). and Dec. 31, 2009. 529 College Savings in excess of $75,000 for single taxpayers legislation from Wachovia Securities’ Special one-time payment Plan Enhancement or $150,000 for joint filers. Chief Investment Officer Tom McManus The following may be eligible to As in the past, distributions from 529 New Vehicle Tax Deduction and Senior Economist Gary Thayer. In receive a one-time $250 Economic plans may be federal-income-tax-free if For 2009, taxpayers may be eligible to addition, we’ve combed the legislation Recovery Payment: used to pay for qualified education deduct state and local sales taxes paid on and included an overview of provisions • Individuals receiving retirement, sur- expenses. For 2009 and 2010 only, the the first $49,500 for the purchase of a new that may benefit you, your family or your vivor or disability benefits from the Social definition of qualified expenses will be car, light truck (less than 8,500 pounds), business. Security Administration expanded to include computers/laptops, motorcycle or motor home. This provision Within the Legislation’s 400-Plus Pages • Supplemental Security Income (SSI) related equipment and Internet access will apply to vehicle purchases made after Are Provisions That May Benefit You recipients expenses. Feb. 16 through the end of 2009. The Taxpayer Relief • Railroad Retirement beneficiaries Please consider the investment objec- deduction will be phased out for taxpayers One of the legislation’s primarygoals is • Certain recipients of disability, death tives, risk, charges and expenses carefully with AGIs of $125,000 or more (single tax- to get money into consumers’ hands so or pension benefits from the U.S. before investing in a 529 savings plan. payers) or $250,000 or more (joint filers). they can use it to stimulate economic Department of Veterans Affairs This pay- The official statement, which contains this Enhanced Energy Efficient Property activity. To take advantage of some of the ment will be a reduction to any benefit and other information, can be obtained by Credit legislation’s provisions, you have to do received under the Making Work Pay calling your Financial Advisor. Read it For 2009 and 2010, a credit will be something; however, if you qualify, you credit. The payment will be disbursed in carefully before you invest. available for 30% of the cost of qualified can benefit from the provisions discussed the same manner as these government Education Credit Enrichment energy-efficient home improvements, up on page 2 with little or no action on your benefits. It will not be a tax credit you The act will enhance and rename the to a $1,500 maximum credit. Qualified part. must claim on your 2009 tax return. HOPE education credit as the American improvements will include exterior doors, Consumer Incentives Alternative Minimum Tax Relief Opportunity Tax Credit. The act will pro- windows, insulation or heating/cooling The legislation contains incentives to The bill will increase the exemption vide a tax credit of up to $2,500 per stu- units meeting certain efficiency standards. encourage consumers to stimulate the amounts used to adjust a taxpayer’s alter- dent for tuition and related expenses paid Many of the legislation’s provisions housing and automotive markets and to native minimum taxable (AMT) income. during 2009 and 2010. The credit will be apply to businesses and business owners, help alleviate the country’s dependence As a result, fewer taxpayers may be sub- phased out at higher-income levels and the details are beyond the scope of on foreign energy sources. ject to the AMT. The 2009 exemptions ($80,000 or more AGI for singles; this overview. However, here is a short list However, to benefit from these provi- will be: $160,000 or more for joint filers). The of some items business owners may want sions, outlined on page 3, you have to pur- • Married filing jointly: $70,950 credit will apply to expenses incurred in to discuss with their tax advisors: chase a first home or a new vehicle or take • Single: $46,700 any of the first four years of post-second- • Extension of bonus depreciation steps to make your home more energy Reduced Taxation of Unemployment ary education. • Incentives to hire unemployed veter- efficient. Benefits Consult Your Tax Advisor ans and disconnected youth Education Enhancements For 2009 only, the first $2,400 of unem- This brief overview highlights only a • Five-year carryback period for 2008 Affording higher education is perhaps ployment compensation will be federal- handful of the significant provisions in the net operating losses for businesses with more difficult now than ever.Before you income-tax-free. ARRA. If you believe one or more of gross receipts of $15 million or less send your child off to college, see page 2 Credit for Certain Federal and State these new provisions may apply to your • Extension of enhanced small-business for information about the legislation’s Pensioners specific situation, talk with your tax advi- expensing provisions to help alleviate the financial A $250 refundable credit will be avail- sor to determine how it may benefit you. • Increased capital-gain exclusion on burden. able in 2009 to certain government First-Time Home Buyer Credit sales of qualified small-business stock Business Assistance retirees who are not eligible for Social Increase acquired after Feb. 16, 2009, and before In addition to those provisions for indi- Security benefits. This payment will be a A first-time home buyer credit was Jan. 1, 2011 viduals, the act contains a number of pro- reduction to any benefit received under originally established under the • Reduction of the built-in gain period visions, some of which are listed on page the Making Work Pay credit. Emergency Economic Stabilization Act of that applies to a C corporation that has 3, aimed at business owners COBRA Benefits Subsidy 2008. A first-time homeowner is someone converted to an S corporation. Provident contributes $12,500 to Home Aides of Rockland The Provident Bank Charitable believes in its mission of providing vital of life for the individuals in need.” organization is accredited by the Joint Foundation has contributed $12,500 to home care services to low-income seniors Home Aides of Rockland, Inc. is a Commission on Accreditation of Health Home Aides of Rockland, Inc. in New and others coping with various ailments. licensed, not-for-profit home care agency Care Organizations and provides appro- City, in support of the organization’s This program is beneficial to the local that has been serving the Rockland priate high-quality care services to all eli- Reduced Rate Home Care Program. community and promotes a higher quality County community since 1969. The gible residents of Rockland County in a Nursing home care can be costly both to manner which assures the dignity and the individual and to the community. For safety of both staff and clients. low-income individuals with no medical “We thank the Provident Bank necessity to stay in a nursing home and Charitable Foundation for its contribution who are not Medicaid-eligible, the in support of our Reduced Rate Home Reduced Rate Home Care Program is the Care Program,” said Celia Juris, only alternative. This program addresses Executive Director of Home Aides of the growing need for affordable home Rockland, Inc. “The rapid increase in the care services that will maintain Rockland aging population of our country, which is County’s low-income, homebound resi- projected to double over the next decade dents in the safety and comfort of their as baby-boomers reach retirement age, own homes without becoming dependent has increased the demand for affordable, on government assistance. high-quality homecare. As we strive to “Home Aides of Rockland has been meet the challenge of providing home providing home care services to Rockland care services for all individuals in need in County residents for 40 years,” said Rockland County, we greatly appreciate The Provident Bank Charitable Foundation recently contributed $12,500 to Home Aides Of George Strayton, President and Chief Rockland, Inc. Pictured from left to right: Debbie McGuinness, Vice President, Board of the financial support of community organ- Executive Officer of Provident Bank. Directors, Home Aides of Rockland, Inc.; Harold Peterson, Senior Vice President, izations like the Provident Bank “The Provident Bank Charitable Municipal Affairs and Not-For-Profit Organizations, Provident Bank; Celia Juris, Charitable Foundation that enable us to Foundation supports this organization and Executive Director, Home Aides of Rockland, Inc. continue fulfilling our mission.” Hudson Valley BUSINESS JOURNAL March 9, 2009 -25 Inside story

As we begin this quadricentennial year of celebrating Henry Hudson’s exploration of the Hudson River, Samuel de Champlain’s exploration of Lake Champlain and the bicentennial of Robert Fulton’s successful steamboat run on the Hudson, we thought it might be fun to take a look at the economic history behind these events. The series is a synopsis of a forthcoming book I’m working on on the subject. PART SEVEN Railroads and the growth of New York BY DEBBIE KWIATOSKI Corning, a wealthy Albany industrialist Watch out for mold According to the 1820 census, there built the who first line.. In 1831, his com- Key Dates for Railroad Page 26 were 1.4 million people living in New pany had the first regularly scheduled rail Development in York State. By 1900, there were 11 mil- service, running 11 miles between Albany New York State lion. The biggest contributing factor to the and Schenectady on the Mohawk and state’s phenomenal growth spurt in the Hudson Rail Road. The line linked the 1831 – First successful railroad line 19th century was, perhaps, a similar Mohawk and Hudson Rivers, making it begins regular service between Albany growth spurt in the role played by an convenient and even more cost-effective and Schenectady invention that was a mere curiosity in to move goods between the Midwest and 1850 – First Telegraph line set along 1830: The steam locomotive. New York City. railroad In the 1860s, 1885 – First use of “piggy-backing” Vanderbilt gained con- to haul freight; they would load the trol of the New York farm wagons right onto flatbeds. Central Railroad and 1903 – After a serious of horrible completed the network. accidents, involving steam and smoke, The lines made it NYS Legislature outlaws steam loco- possible to link the motives on Manhattan Island, south of smallest town with the the Harlem River. big city, making it easy 1904 – First electric underground Using Web 2.0 to grow food and get it subway constructed in NYC. to market within days; 1905 – Long Island Railroad begins technologies to your to travel unimaginable using all-steel passenger cars and install advantage distances effortlessly overhead electrification to the lines. (if you didn’t mind the 1906 – World’s largest Roundhouse Page 27 occasional coal ember is constructed in Oneonta for the landing on your travel- Delaware and Hudson Railroad. ing costume) and to 1908 – Opening of what is known build a metropolis today as the PATH system, an interstate (New York City) at the underground heavy rail between NYC foot of the state, which and New Jersey. by now was well on its 1932 – The first publically-owned way to becoming the heavy rail line opens (The Independent “Capital of the World.” Subway System) in NYC. 1940 – State purchases the two pri- Next week – How the vately held systems (the BMT and the railroads developed IRT) to form the first integrated subway into faster and better system. ways of shipping 1966 – The first public take-over of goods, people and a commuter railroad (the LIRR). It was ideas to even the most purchased by the state from the SLCH starts new remote sections of New Pennsylvania Railroad. (which explains York. why it runs in and out of Penn Station, ambassador club rather than Grand Central…) Robert Fulton and the company of Page 30 investors he built had a monopoly on steam-powered water transportation in the state. Robert Livingston, his main investor, had early on successfully used his influence in the Albany Legislature to Contact Us: keep any other steam-powered traffic, save that owned by their company, off the Story ideas/comments: Hudson River for nearly two decades via [email protected] one of the state’s more ethically checkered regulations known as “The Hot Water Advertising: Bill.” That legislation gave the sole right [email protected] to navigate the river via steam power to the Fulton Steamship Company, blocking Newsmaker submissions: all competitors for over 20years. Other entrepreneurs, including Erastus [email protected] Corning, Ezra Cornell, Andrew Carnegie and the Vanderbilt family had a different Datebook submissions: idea, however. Why not harness the power [email protected] of steam to create on land transportation. The concept was not a new one: steam (845) 298-6236 locomotion had been developed and was being actively experimented with in Great Britain and in France at the time. 26- March 9, 2009 Hudson Valley BUSINESS JOURNAL Real Estate Tenants begin moving into Kohl Industrial Park in Rockland Empire Zone Kohl Solutions, the Teaneck, NJ-based made the climate for business so enticing savory flavor and food products. approach is to Promote, Identify and property development and management through generous Empire Zone • Casabella Secure your product and brand from the firm, announces the signing of six tenants allowances that we are already ahead of Designs cleaning tools, kitchen and factory to the consumer. to its latest commercial property, the plan in terms of tenancy.” bath accessories and organizing products • All Points Moving & Storage, Inc. 252,000 square foot Kohl Industrial Park, Signed to date, and scheduled to move in house and manufactures and distributes All Points Moving and Storage is a 225 North Route 303 in Congers, NY, between March and May are: them worldwide. fully licensed and insured independent marking a significant addition to • Kohl Partners, LLC • NAEVA Geophysics Inc. agent for Allied Van Lines, serving resi- Rockland County’s designated Empire A leading full-service construction Established in 1996, NAEVA offers dential and commercial long distance and Zone. The newly completed building fea- company in New Jersey, Kohl Partners over 34 years of experience in providing local moving and storage needs. tures office, warehouse and distribution has 80 years of combined experience in geophysical and geological services to Kohl Solutions is continuing an space, flexibly sized from 2,500 to 40,000 general contracting, construction manage- over 200 government and private industry assertive effort to draw people to the new square feet and ample parking. ment, site planning and permit acquisi- clients. Rockland commercial space, noting its “Rockland County officials see the tion. • Stoffel Seals Corporation convenient location to highways and attraction of new businesses to the area as • Wynnstarr Since 1941, Stoffel has been a leading bridges, affordable housing and tax bene- Job One,” according to Kohl Solutions Established in 1988, Wynnstarr has Manufacturer of Security Seals and Brand fits to business. For more information President Alan Litt. “The county has become the leading provider of creative, Identification. Their comprehensive visit www.kohlindustrialpark.com/. Auctions offer property owners alternative options for selling in today’s market It’s no secret that home prices have fall- According to Doyle, it takes more than a strategic partnerships give brokers, such The company supports nearly 675 offices en in many parts of the nation or that fore- sign in the yard to move properties these as Doyle, the ability to offer buyers and nationwide with a unique, comprehensive closures have increased; however, there is days. Properties require maximum expo- sellers the best products and services marketing program that includes one of more to the real estate story. Sellers can sure to grab the attention of buyers today. available in the industry, such as premier the largest portfolios of property market- still find success in this market with the It’s also important to have options that home warranties and offers from leading ing web sites (more than 750 separate right information. will increase the likelihood of getting a organizations such as John Deere and sites), publishes seven proprietary real On Sunday, March 22, United Country fair market offer in a timeframe that Ducks Unlimited. estate catalogs with a cumulative distribu- – Absolute Auctions & Realty will bring works for the seller. About United Country tion of 1.5 million, an extensive, current qualified buyers and motivated sellers “We are helping the homeowner sell United Country Real Estate is the buyer database and national advertising of together at a multi-property auction in their property now,” said Doyle. “The largest integrated real estate and auction properties to more than 90 million poten- Pleasant Valley, N.Y. seller pays no commission, making this an company in the U.S. Based in Kansas tial buyer prospects a week. United “We’ve all read the headlines declaring affordable means to participate in a large City, Mo., the company has been an inno- Country has been recognized as a Top 25 the demise of the real estate market, but event promoted through a substantial vator in real estate marketing since 1925. Franchise by the Wall Street Journal and the truth is that we’re not getting the full advertising campaign, a worldwide e-mail United Country is the only national fran- among Entrepreneur Magazine’s story,” said Rob Doyle, owner/auctioneer blast and a multi-property Web site. In chise specializing in country properties. Franchise 500®. of Absolute Auctions & Realty. “The auc- addition, United Country Home Warranty tion method of marketing is the ideal solu- is available on most properties offered for Pine Bush Library gets a new roof tion for today’s sellers, offering an effi- sale, increasing buyer confidence and cient way to attract buyers, creating com- resulting in seller success.” A state member item form assembly- or holding community meetings. petition for your property, and establish- United Country is the largest integrated woman Nancy Calhoun will allow the Additionally, the Ramapo-Catskill ing a floor and eliminating a ceiling on network of real estate and auction profes- Pine Bush Area Library will be receiving Library System for their foresight and pricing. Auctions create excitement in the sional in the U.S. and the only national a state grant of $16,034 for the replace- advocacy for this project on behalf of the marketplace and a sense of urgency that franchise specializing in non-urban prop- ment of the roof of their facility. The people in the 96th Assembly District. cannot be duplicated by any other method erties. The company’s web site, grant monies Pine Bush received from the This $16,034 grant is necessary because of marketing.” www.unitedcountry.com, attracts more state are being matched by the Ramapo- more than ninety percent of New York’s The March 22 auction will take place at than 1 million visitors each month, draw- Catskill Library System, and will allow libraries are over three decades old and the Absolute Auction Center in Pleasant ing nationwide attention to local listings. the library to put a roof over the heads of lack modern necessities, such as internet Valley and will begin at 1:11 p.m. This is in addition to United Country’s those doing research, checking out books and handicapped access. Despite the challenges posed by the advertising of listings in newspapers and depressed real estate market, sellers can magazines nationwide, reaching 90 mil- Watch out for mold also find success with the right options. lion readers every week. The company’s The task of cleaning can be therapeutic campaign is a perfect opportunity to bring for some people, but for others it’s anoth- the attention of professional cleaning and er chore that has to be added to their long restoration services to light. If residents COMMERCIAL SPACE list of things to do around the house. notice any signs of mold while doing their FOR RENT During National Cleaning Week, March spring cleaning during this awareness 23 – 29, one week, they are --OOffice Warehouse-- local business urged to heed Town of Poughkeepsie is easing the the advice of the 40,000 sft. Subdividable to stress and help- Environmental 6,125 • 7,000 • 8,740 and 9,255 sft. ing area resi- Protection Town of LaGrange dents get down Agency on the 5,000 / 10,000 plus sft to business. But subject: they’re not * Fix leaky Henry G. Page Jr. referring to the plumbing and 845-4452-22111 typical surface leaks in the cleaning you building enve- might be imag- lope as soon as ining. possible. Even when the market is a “We address * Watch for cleaning and condensation restoration for and wet spots. fire, mold, or water-damaged buildings Fix source(s) of moisture problems as BEAR and its contents,” said Daniel Allen, soon as possible. There still are fish to be owner of the local SERVPRO of NW and * Prevent moisture due to condensation SE Dutchess County. “After fire or water by increasing surface temperature or caught.... damage, it is vital that people hire a reducing the moisture in the air (humidi- As long as you keep trained professional to come in to do a ty). thorough cleaning of their home. If a pro- * Keep heating, ventilation and air con- fishing the stream! fessional is not hired, homeowners can be ditioning (HVAC) drip pans clean, flow- left with odor issues and other problems ing properly and unobstructed. The Right Advertising Can Help! that could affect the visual appearance of * Vent moisture-generating appliances, their property,” Allen said. such as dryers, to the outside where possi- (845) 298-6236 Allen said the National Cleaning Week ble. Hudson Valley BUSINESS JOURNAL March 9, 2009 -27 Work Life Using Web 2.0 technologies to your advantage BY ADRIENNE BUSKARD users, in effect, create the content and the as a platform for the contributor’s also be used for sharing and grouping PRESIDENT, internal links. A social network service thoughts on a particular subject or sub- images online. MERCURY WEB SOLUTIONS focuses on building online communities jects, or, as is often the case in business Web feeds are considered a feature of In planning a strategy to market your- of people who share interests and/or activ- logs, as a means of communicating infor- Web 2.0. Web feeds use specialized pro- self, your business or your organization on ities, or who are interested in exploring mation on a company or industry. Blog tocols to create Web feed formats used to the Web, the use of technologies consid- the interests and activities of others. The readers are encouraged to respond to the publish frequently updated works—such ered Web 2.0 can be very helpful in pro- most famous of these sites in this country entries with thoughts or information of as blog entries, news headlines, audio, and viding improved Web visibility. Along are MySpace, Facebook and LinkedIn. their own. In social networking websites, video—in a standardized format. Web with a professional website, exposure on These and many other social networks are blogs are used as the main vehicle for feeds generally include full or summa- appropriate social networking sites, strong expanding to include business communi- communication among members. rized text, plus metadata such as publish- use of bookmarking and tagging, and, if ties which can serve as a network service Web indexing using tags, or more tech- ing dates and authorship. They benefit appropriate, syndicated distribution of for a business or organization. Social net- nically, metadata, is a way in which users publishers by letting them syndicate con- information, all considered Web 2.0 tech- work services generally provide a variety can supply a human search engine func- tent automatically. They allow readers to nologies, can work collaboratively to give of ways for users to interact, such as e- tion. Also considered a Web 2.0 applica- subscribe to timely updates from favored your business optimized exposure online. mail, instant messaging and blogging. tion, users or website owners apply tags to websites or to aggregate feeds from many The newer Google algorithms for search Blogging is a Web2.0 technology whose Web entities such as Web pages, digital sites into one place. Podcasts are a series engine ranking take all these channels into popularity is continuing to grow exponen- images, maps, blog entries, and social of audio or video digital media files dis- consideration. tially. A blog works such that the primary applications, for the purpose of categoriz- tributed over the Internet by syndicated The most widely recognized Web 2.0 contributor, the owner of the blog, con- ing information and making associations download, through Web feeds, to portable application is the Social Networking web- tributes regular entries. These entries can between related objects or concepts. media players, personal computers and sites. In a social networking website, the be like a personal diary in nature, or used An excellent example of tagging is cell phones. social bookmarking. In social bookmark- The term Web 2.0 is somewhat debated New law makes COBRA more affordable ing, users bookmark Web pages on a in the Web industry. Some feel that the shared website and then tag them with types of technologies normally classified for terminated employees many descriptive words, allowing subse- as Web 2.0 are, more accurately, logical quent users to search by those terms and extensions of Web 1.0. The terminology The stimulus package that President up front payment find pages that were found to be helpful is secondary to what these applications Obama signed on February 17, 2009 sig- Offer qualified beneficiaries who previ- and/or related. An example of a social mean for businesses, for Web users and as nificantly changes employers’ obligations ously declined COBRA coverage another bookmarking website is del.icio.us. If a an indicator for the direction in which the to offer extended medical coverage (often opportunity to elect COBRA, with the “bookmark this page” link for del.icio.us Web is going. Whereas, for awhile now, a referred to as “COBRA”). The new new subsidized premium and/or other social bookmarking sites is professional website has been a vital changes apply to any company covered Give a refund or credit, based on the included on a Web page, it encourages aspect in promoting your business, it’s under the federal COBRA law and/or state new subsidized premium, to qualified social bookmarking of the page which now even more important as a central “mini-COBRA” laws, which apply to beneficiaries who previously elected then contributes to the Web page’s visibil- ingredient in an expanded and integrated most employers. The new changes apply COBRA coverage ity to further users as well as to search Web strategy. only to employees “involuntarily termi- Prepare new notices, by April 18th, engines. This same type of tagging can nated” between September 1, 2008 and reflecting the new subsidized COBRA December 31, 2009 (called “qualified premium and extended notice period beneficiaries”). The changes do not apply described above, and send such notices to to employees who voluntarily resign their all qualified beneficiaries that have lost employment. their employment since September 1, Generally, COBRA laws allow covered 2008, including those who: Looking to individuals to elect to continue their • have previously declined coverage health insurance coverage for a limited • have elected, but later terminated, time at their own expense following a COBRA coverage grow your “qualifying event,” such as termination of • are terminated during the remainder of employment. The new law imposes addi- 2009 tional COBRA obligations on employers, There are many aspects of the new law business in the by requiring them to: that may or may not be applicable, Beginning with premiums for March of depending on your company and the rele- 2009, pay 65 percent of a qualified bene- vant employee. If you have any questions Hudson Valley and beyond ? ficiary’s monthly COBRA premium for regarding COBRA, and how the new up to nine months of coverage, and then changes might affect your company, con- claim a credit toward payroll taxes for the tact us at [email protected]. Then get listed. Senior Net announces new classes SeniorNet@Rockland, a computer SeniorNet is an international organiza- learning center sponsored by Meals on tion of volunteers who bring computer Wheels Programs and Services of skills to adults. From the complete novice Rockland is accepting registrations for a to students looking to broaden their com- new session of 8-week classes beginning puting horizons, all are welcome to sign the week of March 30. Course fees are up for classes. Classes are tailored to stu- $65.00, including a one-time $10 fee to dents preferring a slower-paced and less join SeniorNet National. Course offerings intense approach. Each class has a maxi- include Introduction to Computers, mum of eight students and an instructor Quicken, Word Processing, Internet, who is assisted by two coaches. The class- Digital Imaging and Genealogy. All new es are given at 121 West Nyack Rd., computers will be available for the Nanuet. For further information call 845- upcoming session. 623-5467. Become a part of our growing online business community at BusinessCardContacts.com where you can show … and tell To advertise … all about who you are and what you do. Sign up for your FREE LISTING today! And while you’re there, in the Hudson Valley Business Journal, check out the marketing opportunities available with our call Tonya Bynoe, or Logan Moskovitz, membership packages. Marketing Representatives Get Listed on 845-298-6236 The Hudson Valley’s Net Neighborhood 28- March 9, 2009 Hudson Valley BUSINESS JOURNAL Technology Start-up helps professionals generate business from Social Media “The key to leveraging social media for ing service that helps professionals com- After the initial set-up, users can put the than $1 per day, Published Daily solves business is to use it as a platform to pro- municate relevant and timely information program on auto-pilot because the content these problems and helps professionals in vide your network with valuable, timely to their clients and prospects via email is automatically updated whenever a any industry transform their clients into a and relevant information,” said Gibran and social networking platforms. Users Published Daily writer posts a new article. referral-generating sales force.” Nicholas, Chairman of Published Daily, a can insert plug-and-play content specific “Most people don’t have the time or About Published Daily new startup tech company whose aim is to to their industry and select their own line- patience to recreate the wheel every time Published Daily is a customizable help professionals generate more referral up of Published Daily writers. The drag- they want to send out a newsletter or mar- online magazine, newsletter, and market- business. “In this age of social media and and-drop functions are easy-to-use, and keting message,” Nicholas said. “The key ing service that helps professionals com- information overload, people are con- allow users to design their newsletter is to put your marketing on auto-pilot so municate relevant and timely information stantly being bombarded with an over- from scratch or utilize the templates pro- that you can spend your time doing the to their clients and prospects via email whelming flow of information and noise. vided by Published Daily. things that you do best.” and social networking platforms. The This means that people don’t need more “The most unique element of Published The newsletter can be sent out via email service costs less than $1 a day and is information – they need relevant informa- Daily is that it provides both newsletter to your list of clients or posted on your designed to transform your network of tion. If you are the one providing it to templates and valuable content from vari- website, blog, Facebook, Linkedin or any friends, clients, and prospects into a refer- them, it elevates your value and trans- ous industries,” Nicholas said. “Every other social networking profile. “Up until ral-generating sales force. The content forms your network of friends, clients, other service we’ve seen is focused on now, there have been two major hurdles and articles are provided by industry and prospects into a referral-generating just content, or just newsletter templates, with blogging and social networking for leading experts, and the drag-and-drop sales force.” and the users are forced to spend more business,” Nicholas said. “First of all, it design functionality is easy-to-use. For Published Daily is a customizable time and money in order to get their takes too much time; and secondly, how more information or to view a demo, online magazine, newsletter, and market- desired result.” are people getting your message? For less please visit www.PublishedDaily.com Labor coalition warns that not re-licensing Indian Point would lead to widespread job loss Labor leaders joined by scores of work- clean electricity. “Indian Point is a reli- service jobs without Indian Point. That Center.” ers reaffirmed their support for the renew- able and economical source for clean same study found that there would be a “Indian Point is a safe facility. If we had al of the operating licenses for Indian electricity,” said Connolly. “While New 150 percent increase in electric rates, any reason it was not, we would not let Point at a recent news conference prior to York needs more power and should build which would have a devastating effect on our members work here,” said James the U.S. Nuclear Regulatory Commission more renewable energy sources, they can- working households. Slevin, Senior Business Agent, Utility (NRC) public meetings on the license not reasonable serve as a substitute for Bob Seeger, Business Manager for the Workers Union of America, Local 1-2. renewal. Indian Point. To replace the clean energy Millwright & Machinery Erectors Local “Indian Point produces 2,000 megawatts The Coalition of Labor for Energy & provided by Indian Point it would take 740 called the continued operation of of electricity. This represents 20% to 40% Jobs, comprised of labor leaders, who rep- thousands of windmills lined up all along Indian Point a necessity if New York of the needs of this region. Cutting off this resent a wide variety of skilled trades, the banks of the Hudson River and Storm hopes to remain economically competi- substantial and vital supply of power pointed out Indian Point’s energy and eco- King Mountain.” tive. “If we do not address the energy would be a body blow to the economic nomic benefits to the state and the New In terms of safety and security, challenges we face now, employers could health and personal well being of every York’s pressing need for reliable, eco- Connolly pointed out that having worked pack up and move somewhere with cheap- single resident.” nomical and environmentally friendly at the facility himself, he knows it to be er energy. Indian Point provides a reliable, George Miranda, President of energy sources. among the most scrutinized nuclear facil- safe and economic source of energy. How Teamsters Joint Council 16 stressed “Indian Point has proven to be an inte- ities in the country. The facility is in the are you going to replace 30 percent of the Indian Point’s importance in the midst of gral part of the economic well being of the midst of a more than 2 ½ year review downstate region’s power source at a rea- the current recession. “Indian Point pro- state,” said Jerry Connolly, spokesman for from the Nuclear Regulatory sonable cost? It’s impossible.” vides hundreds of well paying middle the Coalition of Labor for Energy & Jobs. Commission, receiving nearly twice as Edward J. Malloy, President of the New class jobs that are especially important “It provides hundreds of well paying jobs, many annual inspection hours-approxi- York State Building and Construction now,” said Miranda. “New York will also contributes almost three quarters of a bil- mately 14,000-more than any other Trades Council cited Indian Point’s criti- need reliable energy sources to be com- lion dollars annually to the downstate nuclear plant in the country. cal economic importance to the Hudson petitive both now and when we come out economy and the electricity produced by A 2008 study sponsored by the Valley region. “Indian Point is critical to of this recession. Indian Point provides Indian Point enables tens of thousands of Construction Industry Council of the economic well being of the Hudson much of the energy that keeps New York jobs.” Westchester and the Hudson Valley and Valley region. It provides hundreds of City’s commercial engine going.” Connolly also pointed out the plant’s Westchester County Business Council good paying jobs and the Nuclear Energy “Losing Indian Point would be an eco- important role in providing the area with found that there would be a loss of 11,000 Institute has estimated that it is responsi- nomic disaster for my hometown of ble for infusing the region with $700 mil- Buchanan, in addition to the working peo- lion in annual economic activity,” said ple of New York State,” said Joseph Malloy. “In these tough economic times, it Karas, a Buchanan resident and Council is more important than ever to ensure that Representative for Empire State Regional Indian Point remains open. We also can Council of Carpenters Local 11. “How not overlook the fact that Indian Point would you replace an energy source that produces 2,000 megawatts of clean, low- supplies 75 percent of the electricity con- cost electricity to downstate New York.” sumed in the Hudson Valley and 30 per- “Closing the Indian Point Energy cent of New York City’s power? Electric Center would offer disastrous implica- rates for businesses and consumers would tions for New York’s working families,” skyrocket. It would be next to impossible said Robert A. Ledwith, Business to attract new businesses and it would kill Manager, Financial Secretary/Treasurer of growth plans for existing businesses.” Metallic Lathers Union and reinforcing “Indian Point has proven to be an envi- Ironworkers Local 46. “The result would ronmentally safe and reliable energy be higher electricity costs, rolling source,” said James Melius, of the New brownouts and service interruptions and York Sate Laborers Union. “To comply diminished living standards for all New with the Regional Greenhouse Gas Yorkers.” Initiative to reduce greenhouse gas emis- “While the AFL-CIO strongly supports sions environmentally friendly energy Governor Paterson’s calls to invest in sources such as Indian Point are a neces- alternative energy and promote greater sity.” efficiencies, we also know that these “A union’s main purpose is to negotiate measures alone will not secure New both good wages and safe working envi- York’s long-term energy future,” said ronment for its members. Indian Point has Denis M. Hughes, president of the 2.3 consistently shown a rigorous commit- million member New York State AFL- ment to safety of not only our workers, CIO. “We need a diverse energy portfolio but members of the surrounding commu- and must support affordable, reliable and nity,” said Tom Klein, Business Manager clean base load power. This is one of the of Boilermakers-New York. “The impor- many reasons why we support the re- tance of this facility is not just limited to licensing of the Indian Point Energy continued on page 29 Hudson Valley BUSINESS JOURNAL March 9, 2009 -29 Education Law scholarship in elder law established The Elder Law Section of the New York The Elder Law Section encourages law invited to be a guest member of the Elder tional, direct legal services, and charitable State Bar Association has contributed a students, through an elder law clinic expe- Law Section of the New York State Bar projects aimed at meeting the law-related gift of $10,000 to The New York Bar rience, to learn about important legislative Association and to attend meetings of the needs of the public and the legal profes- Foundation to establish scholarships for developments, regulations, and case laws section’s executive committee during 2010. sion. The Foundation solicits charitable law students. Between 2009 and 2012, a impacting the elderly and to provide rep- A completed application form and sup- contributions and provides funding for the $2,500 scholarship will be awarded each resentation to elderly clients struggling porting documentation must be submitted following purposes: increasing public year to a second- or third-year student with a variety of legal issues and problems to The New York Bar Foundation by understanding of the law; improving the who is enrolled in a law school in the State related to aging and incapacity. The ulti- October 15, 2009 to apply for this year’s justice system and the law; facilitating the of New York and is actively participating mate goal of the scholarship is to create a scholarship. Go to http://www.tnybf.org delivery of legal services; and enhancing in an elder law clinic at the school. network and cultivate relationships among for additional information about the professional competence and ethics. For Through the scholarship, the Elder Law lawyers practicing elder law and law stu- scholarship and to access the application more information about The New York Section aspires to advance opportunities dents planning to practice elder law and to form. Bar Foundation, go to for students who are disabled by imple- encourage the practice of elder law among Founded in 1950, The New York Bar http://www.tnybf.org, call 518/487-5651 menting a preference for awarding the lawyers throughout the State of New York. Foundation is dedicated to aiding educa- or send e-mail to [email protected]. scholarship to a student who demonstrates John R. Horan, president of The New a present and permanent physical or men- York Bar Foundation said, “We are grati- SUNY Ulster professor lectures at Millersville University tal disability that substantially limits one fied to accept this four-year scholarship SUNY Ulster Chairman of the Visual artist,” Machell said about his exhibition. or more of the major life activities of the commitment from the Elder Law Section. Arts, Music & Theatre Department Iain Machell has eight years of formal art individual. A preference also will be given to This gift demonstrates the on-going col- Machell has been selected as a visiting training from Portsmouth College of Art a student who demonstrates financial need. laborative efforts between The artist and lecturer at Millersville in England and Grays School of Art in Timothy E. Casserly (Burke & Foundation and the New York State Bar University, near Philadelphia, where near- Scotland and holds a master’s degree in Casserly, P.C., Albany), chair of the sec- Association as we continue to serve New ly 60 of his drawings and sculptures are fine arts from SUNY Albany. tion said, “The Elder Law Section is York’s legal profession, the justice system now being featured in a solo exhibit that Machell has been on the faculty at pleased to make this contribution to The and the community.” runs through March 16 at the college’s SUNY Ulster for more than five years. New York Bar Foundation to establish a The 2009 scholarship, valued at $2,500, Sykes Gallery. His drawings, book projects and sculp- scholarship in its name. The section con- will be awarded to one student enrolled on Machell also presented an artist’s lec- tures have been exhibited nationally and siders it imperative that practicing elder a full-time or part-time basis in the 2009 ture “Iain Does Ian,” examining British internationally, and he created an outdoor law attorneys continue to bring the legal fall semester in a law school in the State of sculptor Ian Hamilton Finlay, at permanent sculpture for SUNY Ulster. issues facing the elderly to the forefront, New York. The scholarship will be applied Millersville. “This show and lecture give His outdoor sculpture “Twist On Turner” while at the same time encouraging stu- to the student’s 2009-2010 academic year me a great opportunity to review the cur- is currently installed outside the Dorsky dents to pursue a career in the practice of tuition with payment expected in January rent direction of my art work and to Museum at SUNY New Paltz. elder law.” 2010. The scholarship recipient will be explore the persistent influence of another Small Business Resources Doing well by doing good Whether in tough economic times, or in nomic climate, that change is needed Her programs and services are sought Journal Constitution, and the Washington more prosperous ones, small businesses more than ever. after by business owners who want to Business Journal. A percentage of the pro- can and do give big to their communities. make a difference in the world. Keenan ceeds from her book go to support the Maggie F. Keenan, Ed.D., a nationally ABOUT MAGGIE F. KEENAN, ED.D. has been interviewed on numerous radio Little Red Wagon Foundation, a nonprofit recognized expert on strategic philanthro- Maggie F. Keenan, Ed.D., is a national- shows and teleseminars, is frequently that helps kids in distresses situations. py, knows that charitable giving can make ly recognized expert in strategic philan- interviewed by the media and has been Visit her at: www.givingadvice.com. a significant difference to communities thropy for businesses and entrepreneurs. featured in More Magazine, the Atlanta and to businesses alike. It is why she wrote “Small Businesses Give Big: Why Charitable Giving is a Great Business New guidebook helps New York businesses, organizations access Stimulus money Strategy” A Guide to the American Recovery and Recovery Act will invest $27.5 billion to The guidebook is comprised of 11 dif- (January 2009, Alma Publishing, paper- Reinvestment Act of 2009 for New York improve the nation’s roads and bridges – ferent sections providing information back). In her book, Keenan illustrates how community leaders and organizations has nearly $1.1 billion of which will go to about what programs will be receiving charitable giving is good for communities been compiled and released by Senator New York State. In total, the recovery recovery funds. Each section is sub-divid- and businesses. It strengthens communi- Kirsten Gillibrand’s office, offers the most plan includes over $60 billion for modern- ed into what programs New York State ties by providing much-needed money, up-to-date details on how communities izing traditional infrastructure such as will administer and what programs the volunteer hours, and know-how; and it and organizations can access federal stim- sewers and drinking water projects, in respective federal agencies will adminis- strengthens small businesses by spurring ulus funding. addition to roads, bridges and airports. ter. In many cases, the Recovery Act pro- growth, raising their profile, and boosting The guide is part of Gillibrand’s efforts The plan goes further, by providing vides for a federal cost share of 100 per- employee morale. She also explains how to create jobs and ensure New York gets almost $160 billion for non-traditional cent, meaning local entities will not have and why even a new start-up business can its fair share of federal dollars. Currently, infrastructure, such as health care infor- to match federal funding provided in the adopt a program of charitable giving that New York only receives 79 cents back mation technology and renewable sources Recovery Act. Contact Gillibrand’s office reflects their values. “I am here to tell you from the Treasury for every tax dollar sent of energy, which is critical to New York’s for the book. that it doesn’t matter if you’ve been in to Washington, D.C. One of the ways to long-term economic development. business six months or six years, or if you bring this money back and create jobs is to make $50,000 or $500,000; the defining help New York communities, organiza- Closing Indian Point could kill jobs moment is now. All it takes is the heart to tions, and businesses secure federal fund- continued from page 28 help, passion to fuel your purpose, and the ing from the stimulus legislation. the direct jobs it produces, but also the Point is vital to keep our region economi- decision to make giving an integral part of In a letter accompanying the guide significant amounts of its electricity that cally competitive.” your business.” book, Gillibrand explained, “As I travel powers two million homes and businesses The Coalition of Labor for Energy In the book, Keenan profiles fifteen across New York and meet with communi- and New York’s suburban railroad and works to ensure that the working people small businesses who regularly donate ty leaders such as you, one thing is clear - city subway, transporting millions of com- of New York, from Buffalo to Montauk part of their profit, resources, and time to information about how funds will be dis- muters safely and efficiently each day. Point, have the power and energy to build causes that benefit their communities and persed under the Recovery Plan has been Without Indian Point our region would schools, hospitals, houses of worship the larger world. From the chocolate com- difficult to access and decipher. As your suffer greatly.” shopping plazas, offices and homes to pany that raises thousands of dollars for Senator, I am working to provide you with “By providing up to 30 percent of its keep our economy vibrant and safe. Union breast cancer research to the real estate as much information as possible to put energy needs, Indian Point is an integral labor is the backbone of New York State business that helps to fight environmental your community in a position to compete part of the machine that drives New York and its economy. The Empire State’s high- degradation to the high-tech group whose for these funds.” City’s economic engine and the Hudson ly skilled and trained labor force is the “culture of giving” has fed the hungry and Experts estimate that the recovery pack- Valley Region,” said Mike Tracey, safest and most productive in the nation. funded educational programs, these busi- age will save or create 215,000 new jobs Business Manager for Local 91 of the For additional information, visit nesses are proving that they can be a force in New York in the areas of construction, International Association of Heat & Frost www.coalition4energyandjobs.org for positive change. And in today’s eco- technology, and energy production. The Insulators & Allied Workers. “Indian 30- March 9, 2009 Hudson Valley BUSINESS JOURNAL Healthcare Health Quest selects MedAllies for electronic medical records implementation Health Quest has selected MedAllies Management Systems (PMSs) for serving New York’s Hudson Valley. THINC RHIO, we feel strongly that to implement over 300 Electronic Health providers. MedAllies is a Health Health Quest, the largest health system eClinical Works will quickly become the Records (EHRs) and Practice Information Service Provider (HSP) in the Mid-Hudson Valley, is currently physician office EMR system throughout undertaking a multi-million dollar tech- the region,” according to Robert St. Luke’s Cornwall Hospital unveils nology initiative including implemention Diamond, Chief Information Officer for of comprehensive EMR systems in both Health Quest.” From the patient’s per- Community Ambassador Program our inpatient and outpatient environ- spective, we are looking to create an ments for exceptional patient safety and environment which supports the secure quality outcomes while ensuring that the transfer of health information, in a HIPAA compliant (secured) passage of HIPAA compliant fashion, so physicians necessary information between sites truly possess all of the patient’s important occurs. This project will ensure timely health information both from the inpa- access to pertinent health information in tient and outpatient treatment settings. a timely fashion and to the appropriate Having this information will significant- providers involved in the care of the ly enhance the care provided to patients. patient. The end result is better the bet- Ultimately, it’s all about the patient.” ter provision of healthcare and increase Health Quest is the Mid-Hudson patient satisfaction. To accomplish these Valley’s largest healthcare system pro- far-reaching goals, the healthcare system viding the care across a broad spectrum purchased the eClinicalWorks Electronic of services. Offering the full range of Health Record application from hospital services, pre-hospital emergency MedAllies which implements the soft- care, homecare and nursing home care, ware. the Health Quest system provides imme- The eClinicalWorks product is a diate and caring service to the one mil- CCHIT (Certified Commission for lion people who reside in the New York Healthcare Information Technology) counties of Columbia, Dutchess, Ulster, ambulatory physician (Physician Orange, Putnam and northern Practice) EMR. As part of this we pos- Westchester. sess the following functionality Health Quest Affiliates include - Comprehensive physician Office Northern Dutchess Hospital in EMR (Electronic Medical Records) Rhinebeck, Putnam Hospital Center in - Document Scanning Brewster and Vassar Brothers Medical - Digital Faxing Center in Poughkeepsie. - Physician office billing - E-Prescribing - Ability to send pre- About MedAlles scriptions electronically direct to phar- MedAllies leverages Electronic Health macies Record implementations to facilitate - Chronic disease management physician office redesign to improve - Electronic patient registration office practice efficiencies and disease - Computerized laboratory order entry management. In today’s healthcare envi- - Ability to send orders direct to area ronment, delivery of quality health care reference laboratories requires access to pertinent clinical infor- - Integrated business intelligence soft- mation at the point of care. The evolution ware use to report out of the electronic of Electronic Health Record (EHR) sys- system tems allows providers the ability to uti- MedAllies will implement lize comprehensive and powerful tech- eClinicalWorks Electronic Medical nology applications at the point of care. Record/Practice Management System These applications facilitate collection, Shown here: SLCH Community Ambassadors Kara Dorsey (front) and Rose Jurik. throughout the ambulatory clinics and secure delivery, and reporting of critical St. Luke’s Cornwall Hospital (SLCH) • Event committee members urgent care centers in the Health Quest clinical information. MedAllies provides has launched a new Community • Special project liaisons system. Practices will be utilizing the lat- solutions, implementation support, and Ambassador Program to reflect the • Administrative liaisons est health information technology to eas- pricing models to address the major bar- enhanced involvement of volunteers in • Special Task Force members ily monitor and better manage patient riers for physicians in acquiring and areas of patient care, advocacy and com- • Hospital advocates care, promote patient safety while reduc- effectively utilizing EHRs and other munity outreach. Community ing costs, and improve overall patient forms of health information technology. Ambassadors include working profes- With the impending opening of the health through coordination and continu- Also, MedAllies is building and operat- sionals, retirees and students. They share hospital’s Cancer Treatment Center and ity by connecting healthcare providers. ing a Health Information Exchange (HIE) a strong desire to help their friends, growth of cardiac and other programs, “Health Quest has selected this to increase the completeness of informa- neighbors and community hospital. SLCH is enhancing its 200-member eClinicalWorks and MedAllies for many tion at the point of care, increase care These volunteers serve in many capac- Community Ambassador program. reasons. In short, however, eClinical coordination between health care stake- ities and areas, including: Opportunities are being developed and Works has a very good reputation in the holders and standardize quality and pub- • Patient and family liaisons tailored for persons with diverse talents industry and MedAllies as a local imple- lic health reporting. Our ultimate goal is • Greeters and interests. To learn more, call mentation organization support our com- to bring enjoyment back to providers • Pediatric and neonatal liaisons 568-2391 or e-mail lbaldwin@slchospi- munity of providers. In addition, though practicing medicine and to improve the • Orthopedic program liaisons tal.org. their relationship with the community via health of all citizens in our community. DiNapoli audit claims health department wasting millions on out-of-state Medicaid payments The State Department of Health it can start by tracking down and stop- enrollees identified on the reports or to New York City confirmed that $3 million (DOH) made $28.4 million in Medicaid ping payments for out-of-state residents.” remove them from New York’s Medicaid in managed care premiums was paid for payments for people who were enrolled DiNapoli’s auditors found that from program. Auditors found 27 districts out-of-state residents, DOH had not tried in New York and another state’s April 1, 2004 through May 31, 2008, spent, on average, more than 60 days to to recover any of the money from man- Medicaid program, according to an DOH paid about $14.1 million in complete investigations. aged care plans. New York City’s HRA auditreleased recently by State Medicaid managed care premiums and DOH had not worked with the local had not even completed investigations of Comptroller Thomas P. DiNapoli. about $14.3 million in fee-for-service social service districts and HRA to estab- the remaining $11.1 million in inappro- “Medicaid is the single most costly payments for people who were also lish policies, procedures and time frames priate managed care premium payments. program administered by New York enrolled in another state’s Medicaid pro- for completing investigations. DOH officials generally agreed with State,” DiNapoli said. “The state is fac- gram. Additionally, DOH had not set up moni- the audit’s recommendations and planned ing the worst fiscal crisis of our lifetime. DiNapoli’s auditors found that DOH toring mechanisms to track the comple- to take action. For a full copy of the audit We can’t afford to waste millions of dol- had not effectively ensured local social tion of investigations. and the DOH’s full response, or visit lars on people who don’t live here. DOH service districts and the HRA acted in a DiNapoli’s auditors also found that www.osc.state.ny.us has to cut Medicaid waste and abuse, and timely manner to either investigate the while district investigators outside of Hudson Valley BUSINESS JOURNAL March 9, 2009 -31

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