NOVEMBER 30, 2018 Grant from Konar …...ing a position as staff meteorologist at WOKR-TV, where he...

ProfileBrandon Redmond thrives with component-maker Jrlon Inc. Page 4

Small BusinessKevin Williams off TV but still forecasting weather. Page 2

Special ReportSteady investing strategy works best in times of uncertainty. Page 9

Rochester opioid court‘will literally save lives’By BENNETT LOUDON

Each week, as many as 20 opioid-addicted defendants in the city of Rochester could be eligible for imme-diate drug treatment under a new court diversion program.

Created to address the opioid addic-tion crisis, the new program eventually will be expanded to help defendants arrested in Monroe County outside the city.

With a centralized arraignment lo-cation in Rochester, screening defen-dants is easier. But outside the city there is no central arraignment site. The program will be expanded after those differences are addressed.

The opioid court, which officially starts Monday morning, is being sup-ported by a $1.8 million federal grant that will provide for treatment of about 250 defendants who don’t have

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By DIANA LOUISE CARTER

As the craft beverage business goes, so goes Waterloo Container Co.

With the boom in wineries, brewer-ies and distilleries in New York and around the Northeast, the company that supplies bottles and packaging to the beverage industry is booming too.

Construction of a $480,000, 37,000-square-foot addition in Wa-terloo, Seneca County, began this fall to allow the company to add another packaging line and bring in higher-speed equipment.

The company doesn’t make any bottles, but it procures them (mostly from U.S. manufacturers) and their closures. Then it decorates the bottles for wineries in a variety of ways and also creates custom packaging for the filled bottles. And, recognizing that many beverage makers are too small to have large storage facilities for un-filled bottles, Waterloo Container will

also hold customers’ bottle and pack-age inventory in one if its seven ware-

houses until the containers are needed.“They know they have their product

here, but they don’t have to pay for it until they use it,” said Rich Swinehart, Waterloo Container’s CEO.

That’s the type of customer service the company has specialized in since its founding in 1980, just a few years after the farm winery bill was passed in New York that caused the Finger Lakes and other wine regions to flour-ish.

Owner and President Bill Lutz said it would have been hard to believe a decade ago that the wine industry alone in New York would be a $6 bil-lion business. Five years ago, Waterloo Container employed about 22 people. Now the company has just over 60, plus some seasonal workers who come on in the busy season that follows the grape harvest. When the addition is complete, another 14 employees will be added.

Beverage growth feeds surging bottle business

Historic restored building seeks restaurateurBy KEVIN OKLOBZIJA

The home that helped launch the suffragist activities of Laura Cuppy Smith nearly two centuries ago has undergone an extensive structural re-habilitation, the first step toward the developers’ dream of creating a trendy tavern in downtown Rochester’s Cas-cade District.

Twin brothers John and Jim Loftus bought the connected row houses at 30 and 32 S. Washington St. six years ago and recently listed the property for lease with broker and agent Michael Quinn of RE/MAX.

The goal: to find a restaurateur will-ing to invest in the past to bring a vi-brant and perhaps upscale gastropub to an untapped market.

“This is kind of that unknown neigh-borhood,” Quinn said of South Wash-ington Street, where 20 and 30 years ago the Loftus brothers turned the ne-glected Cascade and Knowlton build-ings into office space and lofts.

They bought the Cascade Building in 1985. The Knowlton Building came next in 1998. Those facilities sit to the

RBJ.net

Insight. News. Analysis.Subscribe to Rochester’s top business news source

Photo courtesy Waterloo ContainerMulticolored printing on wine and liquor bottles is growing popular as branding expands.

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Continued on page 31

Continued on page 8Continued on page 8

Grant from Konar Foundation to expand Woodbury Preschool

By VELVET SPICER

A $500,000 grant from the William and Sheila Konar Foundation will allow the Strong National Museum of Play to increase the number of preschoolers who learn

through play by 50 percent.The grant will assist in the construction of two new

classrooms at the museum’s Woodbury Preschool, which currently serves more than 70 children. Construction of


NOVEMBER 30, 2018

ROCHESTER BUSINESS JOURNAL

Former TV personalityinvestigates past events,tailors forecasts to clients

By NICOLE SHELDON

Y ou may recognize him as the man that graced your TV for 35 years telling you what you can expect

from the skies above, and while he’s left the television scene, he is im-mersed in all things weather-related.

Kevin Williams, former director of meteorology at WHEC-TV for 21 years, still eats, sleeps and breathes the weath-er, but from a different angle. President of Weather-Track Inc., a company he founded during his freshman year of college at Cornell University, Williams now focuses on forensics and consultant forecasting for businesses and deliver-ing radio reports on 80 signals from the Northeast to Arizona and New Mexico.

He divides his company into three sectors: media, forensics and forecast-ing. The media portion primarily in-volves radio and social media. Radio listeners around the country hear Wil-liams deliver the weather forecast on a daily basis. Every report is tailored to the city in which it is heard.

“I’m the local weather guy in Duran-go, Colorado for example,” says Wil-liams. “We make the reports very local, so when people hear us they assume we’re down the street.”

He also does live weather reports on Facebook at 5 p.m. Monday through Thursday.

“Part of the reason I do the Facebook page is to keep my former TV viewers and build a community of people who are interested in the weather,” says Wil-liams. “But the media component is pri-marily radio at this point.”

The forensics element is perhaps the most unique side of the business. It in-volves a lot of research on past weather to produce reports that are used in legal cases.

“If an insurance adjuster or an at-torney (defense or plaintiff) has a case where weather is in doubt, they’ll bring on our services and we’ll produce a written or oral report on our findings,” explains Williams. “And occasionally those matters go to trial, so we’ll testify in court as the meteorological expert as to what the conditions were.”

As for the forecasting, Williams and his team essentially function as meteoro-logical consultants for businesses. They provide customized guidance on the weather for companies like commercial snow plowing, photographers, high tech aviation, marine work and any business entity that wants to make a positive stra-tegic decision based on the elements.

Williams runs Weather-Track out of his home office in Penfield, a space that’s a little more elaborate than just one room. When Williams and his wife built their home in 1993, they had a separate wing put on the house for Williams’ business. In the wing is a home studio, a climate library and a forecast center.

There is an additional office in Cam-den, Maine, where Williams and his team of four forecasters do a lot of ocean routing forecasting.

Williams is a Long Island native who originally came upstate for college. He graduated from Cornell University in 1981 with a bachelor’s degree in at-mospheric science. Two years later, he arrived in Rochester after accept-

ing a position as staff meteorologist at WOKR-TV, where he served for seven years before moving on to director of meteorology at WROC-TV from 1989 to 1996. Williams landed at WHEC-TV in 1997 and remained there until his de-parture in 2017.

Over the more than 30 years Williams has been running Weather-Track, the acclaimed meteorologist has seen the company grow organically and is now focused on maintaining his clientele.

“We’re pretty busy now so we want to maintain our clients, serve them well and selectively take on new clients,” says Williams. “Unlike a new business, we’ve been doing this for quite a while, so we don’t have a lot of the pressures (that come with a startup).”

While radio consolidation has proven challenging for Williams and his business, he has remained true to his mission and two of his first three radio stations back in 1982 still partner with him to this day.

Like any entrepreneur, Williams paid his dues. Early in his career, he was re-signed to sleeping four hours a night be-

tween running his business and working as a meteorologist on television.

“At my age, I’m enjoying watching the weather and not having to be inside in a cubicle trying to forecast it,” says Williams.

Williams avows the importance of following a passion rather than just fol-lowing a paycheck.

“You have to have a passion for your profession because you’re going to pay dues. You have to be flexible; roll with the times. But always stay true to your mission and yourself. If you love what you do, it’s a lot easier than if you hate going to work every day.

“Bottom line, I believe people in my profession who succeed have it in their genes,” adds Williams. “I consider it a defective gene—we love extreme weather.”

Small Business is a biweekly feature focusing on local entrepreneurs. Send suggestions for Small Business stories to Reporter/Editorial Assistant Nicole Sheldon at [email protected]. (585) 363-7031

The weather still dominates Kevin Williams’ radar

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Early riser oversees company of a thousand productsBy VELVET SPICER

It’s not often that Jrlon Inc. staffers have the satisfaction of walking into a store, pointing to an item and saying,

“I made that.” So when they can, it is a bit of a celebration.

“We’re making components that go into other things,” says Brandon Redmond, co-owner and chief operating officer of the Palmyra manufacturer. “We’re making widgets, so to speak.”

Jrlon manufactures custom plastic molding, injection molding, computer numerical control (CNC) machined parts, metal bonding and fluoropolymer coatings.

“One of the challenges in being a manufacturer like we are is we don’t make products that are on the shelves; you can’t go to the store and say this is Jrlon’s bicycle that we made or this is Jrlon’s computer,” Redmond explains.

So, when he sees the base plate for a blood pressure monitor in use at Wegmans Food Markets Inc., or when he goes to the zoo and sees in action the kettle that helps the Nutty Bavarian roast peanuts, it’s pretty cool.

“We don’t get to do that all the time because (our products) are hidden.”

Whether hidden or not, Jrlon’s products are in high demand. The Wayne County company has grown revenues an average of 5 to 10 percent the last couple of years and this year sales will increase more than 10 percent. The company’s recent acquisition of RotoDyne Corp.’s Engineered Products Division in Spencerport will push growth next year to 30 to 40 percent, Redmond said.

“For a 38-year-old company that’s pretty

solid,” he said. “We have a lot coming down at the same time, a lot of big projects coming to fruition and they just happen to be coming alive at the same time.”

And that is a testament to the strong backbone of the company his father founded in 1980, as well as the firm’s 120 committed employees.

Teflon beginningsJrlon’s roots date to the late 1940s,

following DuPont Co.’s accidental invention of Teflon, a polytetrafluoroethylene plastic used in numerous applications. Redmond’s grandfather, Floyd Redmond, was working for Garlock Sealing Technologies when DuPont came to the company looking for help manipulating the product. They put him in charge of learning about PTFE, as the product is known.

When Garlock in the late 1950s asked Floyd to move his family to its larger facility in Camden, N.J., he left and started Redmond Plastics. His son, James Redmond, went into business with him until the company was sold during the late 1970s to a large, publicly traded organization. That company now operates as Parker Hannifin Corp.’s Engineered Polymer Systems (EPS) Division – Redmond Plastics.

James ran the division for a while until leaving to start his own business, JR Fluoroplastics, in 1980. In the late 1990s JR Fluoroplastics was sued for name infringement by a company in Philadelphia. As it happened, the Wayne County manufacturer was working on coating rolls for Eastman Kodak Co. The rolls were in crates that were unmarked except for the JR in JR Fluoroplastics and the LON for Teflon.

“So they wrote on the crates JR-LON,” Redmond says. “My father saw that and said ‘aha.’”

Jrlon (pronounced Jar-lon) was born.The company’s work has evolved over

the last 38 years, although Redmond says PTFE and polymer work remain its core competency.

“PTFE is the most frictionless substance known to man. It is almost completely chemically inert, so you can pour just about any chemical on it and it will do absolutely nothing to it,” Redmond explains. “It has a melting point of 620 degree Fahrenheit. It’s FDA approved. It’s being used in the human body for medical devices implanted in the body.”

Naturally a white, heavy-duty looking plastic, Jrlon puts PTFE under enormous pressure, molds it into basic shapes and cooks and machines it.

“That’s kind of how we started and now we’ve evolved to doing just about every plastic,” Redmond notes. “About half our business now is in the metal world. Three-quarters of our business, or more, is non-fluoropolymer.”

Jrlon has made a few acquisitions in its four decades in the industry, including the Rotation Dynamics Corp. Engineered Products Division purchase earlier this year. Jrlon’s new Engineered Products Division manufactures precision machined and molded products to customers in the photonics, commercial printing, industrial products and office products markets.

“I think the acquisition is a huge benefit for our company as a whole. I think long-term it opens a lot of doors,” Redmond says. “But more than that, we were up against two out-of-state private equity groups. We were the three finalists in this negotiation, and it would have been a blow for Spencerport and Monroe County as a whole (if Jrlon had not won the bid). It’s difficult enough to run a business in New York State when you’re local, but when you’re out-of-state and you have a facility it doesn’t make sense when you’re trying to manage it long distance. I can’t imagine it would have stayed here had one of the equity groups gotten it.”

Family focusAlthough Redmond’s first job was

cleaning golf carts at a local golf course at the age of 13, he quickly learned the ropes when he was allowed to join the family business. Redmond started in 2003 in Jrlon’s compression molding department molding PTFE sleeves. Then he learned how to operate CNC machines, working his way through the business.

“When you learn it from A to Z it does a couple things: One, you understand why there are certain processes that need to take place, why there are certain orders to those

processes,” Redmond says. “It’s also nice to have the guys that are now working underneath you at one time working next to you. It gives you a little bit of credibility.”

In 2012 Redmond and his brother, Chad, bought out their father. Chad serves as co-owner and CFO, handling the company’s finances and human resources. James reportedly is retired.

“If you ask him he’ll say he’s retired, but he is not really retired,” Brandon says with a laugh. “He spends part of the year in Florida, but when he’s in town he’s in the office just about every day. This is as much his baby as my brother and I are.”

And Redmond wouldn’t have it any other way.

“He’s got 50 years’ experience; I don’t want him to retire,” he says.

In fact, Redmond got his work ethic from his father.

“One thing he told me from day one, he said if you outwork your employees, your employees will work for you,” Redmond says. “It’s rare that I’m not in the office before 6 (a.m.).”

And he is not the only one.“I’m generally not the first one here.

We’ve got people here at 4 or 4:30 in the morning starting overtime,” Redmond explains. “Very dedicated group.”

Indeed, Redmond says it is these dedicated employees that have led to the company’s success.

“When you have people that are not just telling people what to do but they show the talent they have first, it allows the young guys, the less experienced guys to buy in, as opposed to some supervisor walking around telling them what to do,” Redmond says. “All of our departments have working supervisors, so it’s not just somebody walking around, barking commands. They’re running the machine next to them, then helping them when they need help.”

One of Jrlon’s goals is a high employee retention rate.

“We’re family owned, we’re family operated. We look at this as an extension of our immediate family,” Redmond says. “We tell all our employees: No. 1 is family, No. 2 is faith and No. 3 is Jrlon. Those are your priorities. One and two will always take priority. Period.”

And while being home with a sick child can put a damper on production at times, it is worth it, Redmond adds.

“I hear companies say all the time, if we don’t take care of our customers, someone else will. And that’s true,” he says. “But my philosophy is if we don’t take care of our employees, our employees aren’t going to take care of our customers.”

Kelly Ameele, an administrative professional who has been with Jrlon for 27 years, says the atmosphere there is comfortable and family oriented.

“There’s never a time when you think, ‘ugh, I have to get up and do this all over again,’” Ameele explains. “We’re all pretty supportive of each other, so that’s a plus. Every day is a little bit different.”

Adds engineering specialist John Bell, a 12-year veteran of the firm: “People have an opportunity to shine; they have an opportunity to do whatever they think they can and we try to support them in any way we can. I’ve been in the corporate world and Jrlon’s been a nice, refreshing change for me.”

Challenges and opportunitiesThe Redmond family, Bell says, is not

afraid to fail.“We like to get out on the edge sometimes

with some things,” Bell says. “Many of the things we do are a niche business; nobody

Photo by Kate Melton

Brandon Redmond

Title: Co-owner and COO, Jrlon Inc.

Age: 38

Education: Bachelor’s degree in management for information systems and economics, 2002, Rochester Institute of Technology

Family: Wife, Melissa; son, Stephen, 12; daughters, Harper, 3, and Blakely, 1

Home: Penfield

Hobbies: Golf, being on the water

Quote: “I hear companies say all the time, if we don’t take care of our customers, someone else will. And that’s true. But my philosophy is if we don’t take care of our employees, our employees aren’t going to take care of our customers.”

Widget maker thrives

NOVEMBER 30, 2018


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else wants to do it—it doesn’t have enough volume, it’s too difficult. But we’re not afraid to give it a try. We’re not afraid to fail because we know we’re going to keep trying.”

Redmond and Bell agree the biggest challenge facing both Jrlon and the industry is a shortage of talented staff. At one time it was international competition.

“I would say now it’s finding skilled tradespeople that have the work ethic and the want to make a career as a skilled tradesman,” Redmond says. “The people that we have we retain; it’s getting the younger guys in that’s difficult. There’s a lot more bouncing around now than there used to be.”

That requires a larger investment in employees.

“You have to put the time into your employees and hope that they do stick around,” Redmond says. “If you treat them well enough, they will.”

Don Miller, a longtime customer and supplier, says the company differentiates itself from competitors through its honesty and integrity.

“They do what they say they’re going to do. They care about the partnerships that they’ve developed through the years,” says Miller, who serves as a technical sales engineer for CNC machine tools at OptiPro Systems LLC. “I’m an old-timer and I very much appreciate when people do what they say they’re going to do.”

It is a drive to perform, Bells says.“If there’s an issue with quality it’s

immediately addressed,” Bell says. Adds Miller: “They believe in quality.

Quality is so important in every industry, but especially in the manufacturing world.

They go to the nth degree in machining parts correctly, properly, and at the same time they look for the proper high tech equipment to be able to meet their customer’s requirements for these precision parts.”

Redmond says one of Jrlon’s goals is to reduce the number of non-conforming materials, or the number of jobs that have issues. Additionally, on-time delivery is of utmost importance.

“Our goal is 95 percent. We’re at 93.6 percent right now,” he says. “There’s a reason I know that; I want to hit our 95 percent on-time delivery goals. That’s a ridiculously high standard to hit when we have 1,165 active jobs on the floor right now. When you have a lot of jobs in a relatively small facility it’s difficult to get them all out the door on time.”

Redmond says the best part of his job is the diversity of the products Jrlon makes.

“I wouldn’t enjoy it if we had five different parts and we just made millions and millions of them,” he says. “I love that we have thousands and thousands of completely different products and every day new stuff’s coming in the door.”

Colleagues and employees say Redmond is a hands-on leader who jumps in where help is needed.

“He doesn’t just sit in here and answer a phone and hang out and wait for something to happen,” Ameele says. “He’s a go-getter. He wants to find the new business.”

Redmond describes himself as “encompassing.”

“I try to listen to what our employees are telling us. There’s nobody that knows that process better than the people that are doing it every day,” he says. “If you surround

yourself with smart people and you tell them what to do you’re probably not going to be overly successful. If you surround yourself with smart people and listen to what they’re telling you to do, that’s, to me, the key to success.”

Redmond says he loves the challenge of keeping employees engaged, and it is what keeps him coming back for more. But his biggest accomplishments were during the Great Recession.

“We didn’t have to lay anybody off. And it was very difficult to not do that because we weren’t making any money,” he says. “It’s hard to know that you have people out there that you’re paying to sweep the floor, but I wasn’t going to let them go either. And that’s one thing I’m proud of — that we figured out a way to support people and give them the ability to support their family in a really difficult economic time.”

Redmond reiterates the advice he received from his father about outworking your employees and what that brings in return, but he also is thankful for his father’s traditionalist approach to business that helped pave the way for the Redmond brothers to grow the business on their terms.

“He was ultra-conservative in his approach to business in general, and that put us in a really good financial situation from a business standpoint because we have 85 CNC machines here and we’ve never financed a piece of equipment,” Redmond says. “So it’s allowed my brother and I to be … aggressive in our approach in business.”

At homeWhile he is proud of the work Jrlon

does, Redmond says it is his kids who have changed his life.

“My kids, more than anything, gave me perspective. I come in to work early for a couple reasons. One, because I’m a morning person, but two, because I want to get out of here at a reasonable hour to go home and spent time with my kids,” he explains. “I try to be home by 5:30. There’s plenty of time to work when they’re off to school.”

Redmond and his wife, Melissa, live with their son, Stephen, and daughters Harper and Blakely in Penfield. When he’s able, Redmond enjoys golf, and as a parent to three youngsters, he also enjoys the rare night out with his wife, he says.

The family loves being on the water, so their spare time often is spent at the beach. One of Redmond’s favorite memories of growing up was summering at his grandparents’ mobile home in the Thousand Islands.

“There was this boathouse right down the hill from their place, and fishing in the boathouse on the edge with my brother and my parents,” he recalls with a smile. “My mother’s no longer around so that’s one of my favorites because I vividly see everybody there.”

Like many young children, Redmond wanted to be a professional athlete when he grew up. He dreamed of being in the NBA, but realized early he didn’t have the speed to take the dream that far. Besides, the job he loves was waiting just around the corner for him.

“Oh, it’s all I know. If I didn’t do this ... I have no other skills,” Redmond says with a smile. “If I didn’t do this, I don’t know what I’d be doing.”

[email protected] / 585-653-4021 / @Velvet_Spicer

ROCHESTER BUSINESS JOURNAL / THELIST NOVEMBER 30, 2018

Download and purchase weekly RBJ data in Excel format at the RBJ List Center. Visit go.rbj.net/ListCenter for more information.

Ontario County Employers(Ranked by total number of local employees)

Rank

NameAddressTelephoneWebsite

Total No. of LocalEmployees1

Full-Time / Part-Time

Parent Company

Headquarters Type ofOrganization

2017 Revenuesfrom Local

Operations ($000)1

2017 Payroll fromLocal Operations

($000)1 Nature of Local Operations1 Product Target MarketsServed Top Local Executive(s)1

Local PersonnelManager(s)1

YearLocally

Founded1

1. Finger Lakes Health196 North St.Geneva, N.Y. 14456(315) 787-4000www.flhealth.org

1,7621,256 / 506

Finger Lakes Health

Geneva

Nonprofit 156,180 114,285 Health care Health care Jose Acevedo M.D.,president and CEO

Patrick Boyle, vice presidentof human resources

1898

2. F.F. Thompson Health System Inc.2350 Parrish St.Canandaigua, N.Y. 14424(585) 396-6000www.thompsonhealth.com

1,6701,057 / 613

University of Rochester

Rochester

Nonprofit 146,617 71,366 Health care Residents of the greater FingerLakes region

Michael Stapleton Jr.,president and CEO

Jennifer DeVault, vicepresident of associateservices

1904

3. Constellation Brands Inc.207 High Point Drive, Building 100Victor, N.Y. 14564(585) 678-7100www.cbrands.com

786786 / 0

Constellation Brands Inc.

Victor

Public NA NA Producer and marketer of beer, wine andspirits

Legal-aged consumers, both onand off-premise

Robert Sands, CEO Thomas Kane, executive vicepresident and chief humanresources officer

1945

4. Hobart and William Smith Colleges300 Pulteney St.Geneva, N.Y. 14456(315) 781-3000www.hws.edu

728565 / 163

Hobart and William SmithColleges

Geneva

Nonprofit 107,400 44,900 Liberal arts colleges Education Patrick McGuire, interimpresident

Carolee White, vice presidentfor finance and chief financialofficer

18223

5. Wegmans Food Markets Inc.1500 Brooks Ave.Rochester, N.Y. 14603(585) 328-2550www.wegmans.com

723221 / 502

Wegmans Food Markets Inc.

Gates

Private NA NA Supermarkets Food retail Danny Wegman,chairman, ColleenWegman, president andCEO

NA 1916

6. Clifton Springs Hospital & Clinic2 Coulter RoadClifton Springs, N.Y. 14432(315) 462-9561www.cliftonspringshospital.org

634434 / 200

Rochester Regional Health

Rochester

Nonprofit 63,030 30,222 Health care Health care Dustin Riccio M.D.,president

Michele Fortune, director, HRbusiness operations

1850

7. Ontario ARC3071 County Complex DriveCanandaigua, N.Y. 14424(585) 394-7500www.ontarioarc.org

549367 / 182

The Arc New York

Delmar, N.Y.

Nonprofit NA NA Services and support for people withdisabilities or other challenges and theirfamilies

People with disabilities or otherchallenges

Ann Scheetz, executivedirector

Elaine Benedict, director ofhuman resources

1954

8. G.W. Lisk Co. Inc.2 South St.Clifton Springs, N.Y. 14432(315) 462-2611www.gwlisk.com

390390 / 0

G.W. Lisk Co. Inc.

Clifton Springs

Private NA NA Manufacturer of electromechanicalproducts

Commercial, heavy-duty truck,aerospace, aviation, military,medical

Edward Maier, presidentand CEO

NA 1910

9. LSI Solutions Inc.7796 Victor Mendon Rd.Victor, N.Y. 14564(585) 869-6600www.lsisolutions.com

325321 / 4

LSI Solutions Inc.

Victor

Private NA NA Medical device research, design andmanufacturing

Surgery Jude Sauer M.D.,president and CEO, EvaSauer M.D., secretaryand treasurer

Robert Sihto, humanresources director

1986

10. Guardian Industries Corp.50 Forge Ave.Geneva, N.Y. 14456(315) 787-7000www.guardian.com

301297 / 4

Guardian Industries Corp.

Auburn Hills, Mich.

Private NA NA Float glass manufacturing Residential, commercial Jeremy Sharkey, plantmanager

NA 1998

11. Gorbel Inc.600 Fishers RunFishers, N.Y. 14564(585) 924-6262www.gorbel.com

288288 / 0

Gorbel Inc.

Fishers

Private NA NA Manufacturer of overhead cranes,industrial lifting devices, and fallprotection products for industry; overheadbodyweight support systems for use inmedical rehabilitation

Manufacturing, automotive,assembly, construction,machining, military, health care

Brian Reh, president andCEO

Lisa Wiborg, vice president,human resources and talentmanagement

1977

12. O'Connell Electric Co Inc.830 Phillips RoadVictor, N.Y. 14564(585) 924-2176www.oconnellelectric.com

258258 / 0

O'Connell Electric Co Inc.

Victor

Private 107,000 40,874 Electrical and communications contractor Industrial, commercial,institutional, utility, residential,colleges and universities,medical, alternative energy

Victor Salerno, CEO, TomParkes, chief operatingofficer

Susan Parkes-McNally,executive vice president andtreasurer

1911

13. Canandaigua National Bank & Trust Co.72 S. Main St.Canandaigua, N.Y. 14424(585) 394-4260www.cnbank.com

258219 / 39

Canandaigua National Corp.

Canandaigua

Private NA NA Full-service community bank Greater Rochester and theFinger Lakes

Frank Hamlin III,president and CEO

Michelle Pedzich, senior vicepresident, director of humanresources

1887

14. Leonard's Express Inc.6070 Collett Road WestFarmington, N.Y. 14425(585) 924-8140www.leonardsexpress.com

248248 / 0 NA

Private NA NA Truck transportation and warehousingprovider

Manufacturers, grocery chains,food processors

Kenneth Johnson, CEO,Kevin Johnson, chiefoperating officer, KyleJohnson, chief financialofficer

Deb Uhl, human resourcesmanager

2001

15. Velocity Outdoor4

7629 Routes 5 and 20Bloomfield, N.Y. 14469(585) 657-6161www.velocity-outdoor.com

242242 / 0

Compass Diversified Holdings

Westport, Conn.

Private NA NA Manufacture and distribution of sportinggoods

Retail Robert Beckwith, CEO Kathy Chapman, director HR 1923

16. REDCOM Laboratories Inc.One Redcom CenterVictor, N.Y. 14564(585) 924-7550www.redcom.com

151145 / 6

REDCOM Laboratories Inc.

Victor

Private NA NA Digital and IP-enabledtelecommunications systems,contractmanufacturing services including printedcircuit board assembly and complete boxbuild

Government and defense,telephone carriers, public safety,OEMs, engineering servicescompanies

Klaus Gueldenpfennig,chairman, DinahGueldenpfennigWeisberg, president andCEO

Chad Boehly, director, humanresources

1978

17. Messenger Post Media73 Buffalo St.Canandaigua, N.Y. 14424(585) 394-0770www.mpnnow.com

120120 / 0

GateHouse Media LLC

Pittsford

Public NA NA Daily newspaper Consumer Sean McCrory, executiveeditor, Beth Kesel,general manager

NA 1796

18. IDI Billing Solutions7615 Omnitech PlaceVictor, N.Y. 14564(585) 924-4110www.idibilling.com

120109 / 11

IDI Billing Solutions

Victor

Private NA NA Global provider of cloud-based billing,automation and workflow solutions

Communication serviceproviders

Donald Culeton, presidentand CEO

Debi Jones, director, humanresources

1996

19. EWASTE+5

7318 Victor-Mendon RoadVictor, N.Y. 14564(888) 563-1340www.ewaste.com

100100 / 0 NA

Private NA NA Electronics recycling and data destructioncontractor

Commercial, government,medical, educational

Michael Whyte, president Stacey Milliman, director ofhuman resources

1995

20. Randall Farnsworth Auto Group5375 Thomas RoadCanandaigua, N.Y. 14424(585) 394-0050www.farnsworthgroup.com

9691 / 5 NA

Private NA NA Motor vehicle sales and service, after-market accessory dealer, body shop

Retail, commercial, fleet Randall Farnsworth,owner and president,Martha Buttaccio, owner,Margaret Farnsworth,owner

Margaret Farnsworth, vicepresident and secretary

1917

21. Z-AXIS Inc.1916 Route 96Phelps, N.Y. 14532(315) 548-5000www.zaxis.net

8074 / 6

Z-AXIS Inc.

Phelps

Private NA NA Design, prototyping and manufacturingservices for electronic products andelectromechanical assemblies

Medical, commercial, industrial,energy

Michael Allen, president Jennifer Gruschow, employeerelations specialist, LilyAbdulina, human resources

1989

22. APD Engineering & Architecture PLLC615 Fishers RunVictor, N.Y. 14564(585) 742-2222www.apd.com

7067 / 3 NA

Private NA NA Full-service, multidisciplinary design andengineering solutions

Retail, restaurants, prototypedesign, recreation, publicinfrastructure, facilities

Jamie Wheatcraft,principal member andpresident, Daniel Sargent,executive vice president

Beth Harrison, marketingmanager / recruiting

1996

23. Terphane LLC2754 W. Park DriveBloomfield, N.Y. 14469(585) 657-5800www.terphane.com

6059 / 1

Tredegar Corp.

Richmond, Va.

Private 38,936 4,713 Manufacturer of polyester film. Commercial, industrialconverters

Marcos Vieira, director ofsales and global R&D

Karen VanDerEems, humanresources manager

1998

24. Magnus Precision Manufacturing Inc.1912 Route 96Phelps, N.Y. 14532(315) 548-8032www.magnusprecision.com

5858 / 0

Floturn Inc.

Fairfield, Ohio

Private NA NA Precision CNC vertical, horizontal, 4 and5 axis, CNC turnings, Swiss machining,value added assemblies

Aerospace, optical, photonics,firearms, medical, defense,cryogenics, communications

Grant Oberdorf, president Diane Mays, controller 1988

25. Ontario Import Cars Inc.62311 -2337 Rochester RoadCanandaigua, N.Y. 14425(585) 396-3000www.ontariohonda.com

5251 / 1 NA

Private 26,000 1,800 Automobile dealership General public Alan Richards, DanielRichards, president

NA 1985

To break ties, firms are ranked by number of full-time employees.Notes: Information was provided by individual organizations that responded to an email survey.The survey area was Ontario County. The list includes organizations that are publicly or privatelyheld firms, or institutions not part of a government entity.1 Local area is Ontario County.2 Thompson Health is an affiliate of UR Medicine

3 Geneva Academy was founded in 1796; Hobart was founded in 1822; William Smith was foundedin 1908.4 Formerly Crosman Corp.5 EWASTE+ is the dba for Rochester Computer Recycling & Recovery LLC6 The company owns Ontario Honda and Ontario Mazda.NA - Not available

Researched by Andrew Green © 2018 Rochester Business Journal

If you would like your company to be considered for next year's list, or if there are any corrections oradditions, please write to: Research, Rochester Business Journal, 16 W. Main St., Suite 341, Rochester,N.Y. 14614; or email [email protected].


By VELVET SPICER

Harris Corp.’s Rochester-based Space and Intelligence Systems has shipped its largest mirror ever for a ground-based observatory that will produce the deepest, widest views of the universe.

As part of the National Science Foun-dation team assembling the Large Syn-optic Survey Telescope (LSST) on the Cerro Pachon ridge in Chili, Harris is providing the 3.5 meter, 3,500-pound secondary mirror and associated ground support equipment. Harris also is deliv-ering the cell assembly that stabilizes the mirror to offset the effects of gravity during operation.

It took Harris employees some five years to design, build, integrate, test and ship the LSST mirror and cell as-sembly.

“The Harris-built secondary mirror for LSST continues a 50-year legacy of designing and constructing high-end optical systems that meet challenging

requirements,” said Murali Krishnan, vice president and general manager, in-

telligence, surveillance and reconnais-sance for Harris Space and Intelligence

Systems. “We can’t wait to see the sci-ence that will be discovered.”

LSST will conduct an unprecedented, decade-long survey of the entire visible sky, detecting billions of new objects and contributing to the study of dark matter and dark energy. LSST will seek to enable science in four areas including the understanding of dark matter and dark energy; cataloging the solar sys-tem; exploring the changing sky; and investigating the formation and struc-ture of the Milky Way.

Operations are scheduled to begin in 2022.

“This achievement marks the suc-cessful conclusion of a great joint effort between LSST and Harris. Numerous challenges due to the mirror’s large size and convex shape were overcome with novel and custom fabrication and me-trology solutions,” said LSST Telescope and Site Manager William Gressler in a

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Mason Marketing acquires Persuasive CommunicationsBy KEVIN OKLOBZIJA

Mason Marketing LLC, a top-10 marketing communications agency in Penfield, has reached across town boundaries and acquired Pittsford-based Persuasive Communications, with an eye on enhancing services for small businesses.

When the merger officially takes place on Dec. 3, Mason Marketing will formally establish a dedicated small business group to proactively manage the sector’s client base.

Since four out of five firms in Roch-ester are small businesses, Mason Mar-keting believes there is significant op-portunity for growth.

“Our firm has been very successful helping small businesses in our com-munity build their brands and drive their sales,” Timothy J. Mason, presi-dent and CEO of Mason Marketing, said in a news release. “Having served as president of the Small Business Council of Rochester, I, and in turn the agency, have an affinity for sup-porting the small business community with high quality, strategic marketing services.”

Persuasive Communications owner Paul H. Bush and two employees will join Mason Marketing. Mason ranked No. 10 among marketing communica-tions firms in the Rochester Business Journal’s 2018 Book of Lists. Persua-sive, formed in 2004, was No. 22.

“I couldn’t be more pleased to align Persuasive’s clients, and my Persua-sive team members, with what I be-lieve is one of the most reputable and respected firms in the Rochester area,” Bush said. “Their loyal client base, their tenured team, and their strategic and creative capabilities help re-ensure that our clients will be well cared for

and supported at an even higher level.”Persuasive’s client roster, which

professional service firms and health care providers, aligns well with Mason Marketing’s portfolio of largely small- to medium-sized businesses.

“Paul was looking to align with a firm that could provide even more ca-pability and value to the Persuasive client base, as well as offer continued growth opportunities for his agency team,” Mason said. “Mason Marketing

offers that wider bandwidth of capabil-ity—especially with its affiliation with Mason Digital LLC—to deliver more tools.”

[email protected]/(585) 653-4020

Harris ships its largest observatory mirror

Provided photoHarris LSST prior to assembly integration.


ROCHESTER BUSINESS JOURNAL / RBJ.NET NOVEMBER 30, 2018

Lutz is proud to say, “In the history of the company, the Lutzes have nev-er laid anyone off. We’ve never had a slowdown.” Much of that is related to the industry the company serves. About 80 percent of the company’s business is for winemakers. But they’ve seen significant growth in breweries, cider-ies and distilleries, too. Some of Water-loo’s continuous growth, though, must also be attributed to Lutz’s tendency to diversify so he maintains control of various enterprises related to his core business.

Waterloo, for instance, owns its own fleet of tractor trailers and trucks and earned the necessary certifications to be able to perform both repairs and inspec-tions on those vehicles. That’s helped the company avoid skyrocketing freight costs. And it helps with customer ser-vice. The company has nine trucks and more than 30 trailers so they can leave one to be loaded or unloaded at smaller wineries.

“We learned early on, if you could

control that and do it yourself and provide jobs,” that was the direction

to go, Lutz said. “Our goal was re-ally to be the one-stop shop for ev-erything.” That’s true for the larger wineries, and for the hobbyist wine makers.

“We also have people walk in and

buy one case of bottles and closures,” said Richard L. Beauchine, chief finan-cial officer.

The company’s customer base cov-ers 36 states and Eastern Canada. Yet with all that business, Waterloo Con-tainer has remained true to its family-owned roots.

The numbers of wineries and farm breweries in New York have both passed 300, and they’re buying bottles, closures and packaging from this fam-ily-owned company. Waterloo Con-tainer also supplies bottles and closers to breweries, distilleries and makers of hard cider – Lutz said that’s par-

ticularly big in Canada. The one bottle procurement job the company handles that isn’t for an alcoholic beverage – not counting its own signature water bottle – is for a couple of lines of olive oil.

Sticking with alcoholic beverages, Waterloo Container has seen all the trends: in beverages, in bottles, in types of decoration and in closures.

“Growth in the Northeast has been really massive in the last 15 years,” Lutz said.

If you think you’re seeing more screw-caps on the wine you drink now, Waterloo can show you the proof in its use of Stelvin closures. Five years ago, Waterloo was supplying screw caps for 19 percent of its wine bottle business. Now it’s matching 35 percent of its wine bottles with Stelvin caps.

Another driver of growth is com-panies’ skyrocketing branding efforts. Marketing Director Bobbi Stebbins said the company had 200 custom packaging jobs in 2015. Two years later, Waterloo handled 2,400 jobs. She shows the multicolored printing on one company’s bottles that changes

with the seasons as the winery keeps its look fresh.

And Waterloo encourages such cus-tomization with an expanding range of methods to do so, from shrink-wrapped labels that cover the entire exterior of the bottle, to eight-color printing on the bottle surface, to individual car-tons for each bottle to cardboard cases to hold a dozen bottles and their indi-vidual cartons.

Stebbins showed off printing that made one company’s wine bottle look like it had a stained window printed on it, and a case that was printed to look like a wooden crate for holding grapes instead of a lowly cardboard box. More printing and packaging means more business, which means more jobs for Waterloo.

“The IDA (Seneca County Industrial Development Agency) is pleased to see this growth taking place …,” said Robert Aronson, executive director of the IDA. “The additional jobs will be a great benefit to Seneca County’s economy.”


Lutz

health insurance.“I am not exaggerating when I tell

you that it will literally save lives,” Seventh Judicial District Administra-tive Judge Craig J. Doran said at a news conference announcing the new opioid court.

As of Oct. 31, this year there have been 989 heroin overdoses — includ-ing 139 fatalities — in Monroe County.

Treatment providers for the opi-oid court include Rochester Regional Health Systems, Huther Doyle, Conifer Park, John L. Norris Addiction Treat-ment Center, and Delphi Rise.

John L. DeMarco, supervising judge of the Rochester Treatment Courts, said because of the potential consequences of the alleged behavior that got them arrested, the drug-addicted defendants amount to “a captive audience.”

“What we want to do is quickly and acutely take advantage of this oppor-tunity ... and make treatment immedi-ately accessible,” he said.

The booking and medical staff of the Monroe County Sheriff’s Office will screen out individuals arrested on vio-lations, misdemeanors and non-violent felonies who “appear at high risk for severe opiate intoxication or overdose if released into the community,” De-Marco said.

“We’re often very fearful that we have someone who doesn’t belong at jail at that moment,” said Monroe County Sheriff Todd Baxter.

“We realize, with their addiction, they’re a high risk,” he continued. “That’s exactly what we’re trying to wean out of the jail and put them in a stabilization part where they belong,

into a bed and a treatment provider.” Further review of defendants arrest-

ed the night before will be conducted by court personnel between 7:30 and 8:30 each morning.

Eligible defendants will go to what is officially called the Opiate Stabili-zation Part to be arraigned by Roch-ester City Court Judge Caroline Mor-rison.

After their arraignment, the defen-dant will be released to pre-trial re-lease services “who will physically escort the defendant to their offices on West Main Street,” DeMarco said.

The drug treatment provider will

then pick up the defendant at the pre-trial release services office. Defendants who don’t require in-patient treatment will be required to report to Morrison every weekday morning.

“This daily reporting is central to our goal in order to keep our occupants alive and available to begin that road to recovery,” DeMarco said.

The treatment agencies will report to the court case manager every day so Morrison will have an update on the de-fendant’s compliance.

When defendants report to Morrison weekday mornings, there will be no re-quirement for a defense attorney to be

present, DeMarco said.“Judge Morrison will engage in an

off-record conversation with the de-fendant centered really specifically on how things are going, making sure that there’s no difficulties that they’re facing relative to their compliance and then they’ll be released in a matter of minutes,” DeMarco said.

“Like all treatment courts, the sta-bilization part will prioritize honesty and attendance for each defendant to remain in good standing,” he said.

Morrison will have the authority to issue bench warrants and sanctions if a defendant does not comply with the requirements of the program.

Until the defendant’s condition is stabilized, their court case is put on hold for 45 days. Morrison can grant a second 45-day extension.

Successfully completing the pro-gram won’t guarantee any particular disposition of the court case. In some cases, defendants who complete the opioid stabilization part will qualify for a different treatment court, such as veterans court or mental health court.

Officials say it’s critical to get treat-ment for opioid-addicted defendants immediately. The period between ar-raignment and a return to court can pose serious dangers.

For a defendant who spends a few days or a week in jail, and then bails out or is otherwise released pending a court date, their drug tolerance drops over that time. When they go back to using drugs “that’s where fatalities occur,” DeMarco said.

“It’s the immediate engagement that’s going to be the difference maker,” he said.

[email protected] / (585) 232-2035

OPIOID COURTContinued from page 1

Photo by Bennett LoudonMonroe County Court Judge John L. DeMarco, supervising judge of the Rochester Treatment Courts, speaking at a news conference Monday to announce a new opioid court for the city of Rochester. Also at the event were (left to right): State Supreme Court Justice and Seventh Judicial District Administrative Judge Craig J. Doran, Monroe County Public Defender Timothy Donaher, District Attorney Sandra Doorley, County Executive Cheryl Dinolfo and Sheriff Todd Baxter.

BOTTLESContinued from page 1

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NOVEMBER 30, 2018

Banking & FinanceSPECIALREPORT

BY CHRISTINE G. ADAMO

Uncertain economyshouldn’t sway investors

STEADY HAND

Story begins on page 10

ROCHESTER BUSINESS JOURNAL / SPECIALREPORT NOVEMBER 30, 2018

Steady investing strategy works best in times of uncertaintyCautionary notesabound as economycontinues to growBy CHRISTINE G. ADAMO

Is it “the best of times or the worst of times” — to paraphrase Charles Dickens — or a mix of both?

Whatever the answer, it may help to refer to the National Academy of Sciences three-part risk analysis model: assess, communicate, manage. Or to take solace in research by Karin Machluf and David F. Bjorklund, who state: “humans have evolved to respond to (risks both) good and bad in an adaptive manner.”

This proclivity to seek out and hone s t ra tegies for funct ioning amid uncertainty may even ensure financial fitness during economic shifts.

Assessing uncertaintyKent Gardner, chief economist for the

Center for Governmental Research in Rochester, joked that economists are poor forecasters but said there still may be reason for concern.

“The quip is that ‘economists have predicted 11 of the previous seven recessions,’” he said. “(They) tell you tomorrow why what they predicted yesterday didn’t happen today. Lousy predictions aside … there’s a fair bit of worry to go around at present.”

According to Gardner, problems include U.S. monetary policy, dissent over U.S. trade strategy, political imposition and a mounting U.S. deficit.

“The vitality of the U.S. economy is now at odds with what is happening globally,” he noted. “With such a large domestic market, the U.S. economy can remain insulated from global economic conditions to a great degree—but there are feedback loops which can come back to bite us.”

In summary, those biting realities include:• Rising U.S. interest rates – A strong

U.S. dollar makes goods and services more expensive to foreign buyers, reducing foreign demand. Businesses dependent on exports may feel the pinch ripple through their supply chains.

• Double-market losses – Developing nations that adopt the U.S. dollar to combat runaway inflation (Gardner cited Ecuador) are then “whipsawed” by U.S. monetary policy. This can result in security short sales as they recoup losses and pay off global debts despite soft local currencies and economies.

• EU relations – Gardner said “problems of solvency have re-emerged in the Euro zone,” with governments like I ta ly’s pushing back against conservative policies pushed for by

EU nations like Germany. Any EU discord could affect world and U.S. economies in unpredictable ways.

• China – Gardner called the Chinese economy’s integration into the global trading system “remarkable,” but noted that it has spurred a level of dependency that makes any of its weaknesses consequential.

With interest rates so low, Gardner said, conventional means for combating a slowdown are dwindling.

“The world’s central banks are all in trouble on this score,” he said. “Moreover, our current economic growth is partly attributable to last year’s tax cut. (While) providing economic stimulus, (it is) driving up the U.S. budget deficit.”

During his own 41-year career, financial advisor Stephen Riley—co-owner and principal at Riley, Nichols & Munn—has found that predictions are destined to fail.

“We, collectively, do not know what the trends will be,” said Riley. “(With) GDP growth at the current level, unemployment is at decades-low rates and corporate profits are increasing at double-digit rates. There is more certainty now than in the previous 10 to 15 years.”

Though corporate profits are trending up, he explained, predictions based on isolated data can be dangerous. With headlines focused on U.S. policy, he added, what people are truly uncertain about is the political climate.

“It’s very difficult for a human being to not listen to the noise,” said Riley.

Shawn M. Richards, a partner at The Angelo Planning Group, said that is maybe more true now than usual.

“No one has any clue what markets are going to do,” stated Richards, “including myself and every self-proclaimed market genius we see on TV and the internet. When markets perform well (for a) time, it’s natural for people to look back and say, ‘this was a period of economic certainty— when they are anything but.”

Since roughly 2009, said Richards, market performance has stirred progress some confuse with certainty amid a litany of government shutdowns, a U.S. healthcare system overhaul, ongoing wars, terrorist attacks worldwide, nuclear weapons tests, upheavals (i.e., Egypt,

Crimea), natural disasters, health outbreaks, a near shutdown of Italy’s banking system, bailouts for Greece, Portugal and Ireland, etc.

“The markets went on one of the best positive runs in history,” noted Richards, “which would have been hard to predict. All times are uncertain until we look in reverse. (Are) these times more uncertain than (those) perceived as relatively calm? Yes.”

Communicating concernInstantaneous access to information and

the U.S. political environment play a role in stirring up concern, according to Riley.

“The public’s perception may be that current economic times are uncertain,” he said. “Sometimes the news cycle makes it difficult to focus on corporate profits as they relate to stock prices. (And we) think, ‘This has got to be affecting the market.’ In the end? It’s not.”

One solution, Richards said, is to take a deep breath, slow down and avoid making rash decisions.

“(People) tell me they were nervous, so they went into their 401(k)s and made some changes,” he explained. “When I ask them what they based those changes upon, they have no idea. Sometimes, when we perceive a problem, we want to take immediate action—because doing something about it makes us feel good.”

That is not to say do nothing, Richards emphasized.

“Visit with your investment manager,” he said. “Revisit your goals and tolerance for risk. Beyond this, ask what their strategies are for mitigating (portfolio risks during) market turndowns. If you like their answers, move forward … and allow this to give you some confidence and calm. If (not), start interviewing new advisors.”

“I do believe that these times pose a greater degree of uncertainty than the last decade or so,” he posited. “We think (current events) have massive impacts on the long-term trajectory of markets – and they generally don’t. Massive events (like Sept. 11 or bank failures) do have more of an effect … but they don’t take markets down.”

Not unless, he said, markets are primed

for turbulence.

Managing portfoliosWhen it comes to managing portfolios,

Gardner said he does not give investment advice.

“My personal investment strategy,” he quipped, “is to pick a portfolio based on my long-run risk tolerance and keep my eyes shut.”

“ R e a d r e s p o n s i b l e f i n a n c i a l journalists,” added Gardner. “Don’t rely on TV (or sources that stir controversy). ‘The Economist’ is a deeply thoughtful and balanced source of information, for example.”

Riley called patience a virtue.“Patience is (slim) today,” he said.

“Nobody has it. It’s almost nonexistent. Exercising patience is what will make you money, though it’s very hard for people to do. Today, (it’s) a function of info overload.

“Investors should take a long-term view of their portfolios,” Riley said. “Focus on the earnings trend of stocks, as they relate to the stocks’ current prices. Consult with an investment professional. This third-party review (should help) determine a current and long-term (portfolio) strategy.”

It’s also important to do your due diligence up front.

“You should know who you are working with and how they are assisting you with your investments,” said Richards. “Ask your advisor questions and make sure that you get the answers that you want.”

Those questions, advised Richards, can include:

How will you be paid?What exact fees will I be paying?Will I pay commissions, too? Why? Are you a fiduciary for me? If so,

across all transactions?Inquire about whether conflicts of

interest exist (i.e., proprietary products or programs offered by the firm), he said, and about investment strategies for determining risk tolerance, selecting investments and protecting against down markets.

For good measure, buckle up and expect a bumpy ride.

“I think the real increase in uncertainty comes from the current system of global financial engineering and debt,” said Richards. “To be clear, I am not claiming that I know what will happen because of this. I merely believe this creates a less certain environment.”

“Interest rates have been artificially low for a very long time,” he explained, “which (aids consumerism). As the U.S. increases interest rates, while winding down quantitative easing, what will happen? As other central banks start making decisions around their own fiscal issues, what will happen? The truth? No one knows.”

Christine Adamo is a Rochester-area freelance writer.

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NOVEMBER 30, 2018 ROCHESTER BUSINESS JOURNAL / SPECIALREPORT PAGE 11

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True portfolio diversification involves multiple asset classesThe diversification of an investment

portfolio has been described as the one “free lunch” in the investment

world. That is because holding a port-folio of assets with unique risk and re-turn characteristics can result in higher long-term returns and a lower risk pro-file.

There have been studies that show y o u c a n a c h i e v e s u f f i c i e n t diversification in a portfolio with as few as 30 stock holdings. That may be true, but those 30 stocks need to be chosen very carefully. If most of the stocks are from the same industry, then the diversification benefits will be diminished.

F o r m o s t i n v e s t o r s , t r u e diversif icat ion involves holding multiple asset classes, such as stocks, bonds, real estate, cash, and maybe some al ternat ive assets such as commodities, currencies, derivatives, or catastrophe bonds. Within each of those categories, several diverse assets should be held.

For example, within stocks, a truly diversified portfolio would likely include commitments to large, mid, and s m a l l - c a p i t a l i z a t i o n s t o c k s , international stocks and a mix of growth and value stocks. Within bonds, it may make sense to hold some issued by the U.S. Treasury, government agencies, and corporations. Spreading these holdings out across the maturity and credit quality spectrums would further broaden the portfolio.

The basic idea? To simply not put all your eggs in one basket. So when one market segment falls, you may be protected by gains in another. It is true that stocks generally provide the strongest returns over time, but they also have a bad habit of declining by 50 percent during nasty bear markets. Not too many investors can tolerate that sort of volatility. Diversifying into bonds or other asset classes can help protect your wealth during stock market downturns.

While the merits of diversification

seem obvious, and are held to with religious fervor among investment professionals, those pursuing such an investment strategy over the past decade likely regret it. Stocks have significantly outperformed bonds, cash, real estate, commodities and just about every other asset class since the current bull market began in early 2009. Even worse for advocates of diversification: within stocks, large-capitalization growth stocks in the U.S. have outpaced effectively every other segment of the stock market. Looking narrowly, technology stocks have trounced those in every other industry.

Indeed, the S&P 500 Index of mostly large-capitalization domestic stocks has outperformed the MSCI EAFE Index of international stocks by an annualized 7.5 percent since the start of the bull market. Large-cap growth stocks have outperformed value stocks by an annualized 3.7 percent. The tech-heavy NASDAQ Index has outperformed just about everything else, with annualized returns of over 12.5 percent for the last decade.

In a market environment like today’s, diversification has become an irritant. Investors want returns in-line or ahead of the market in every environment, particularly over longer periods like 10 years.

Yet, we now have 10 years of data that says we should have been narrowly invested only in the largest growth stocks, not spread out across many different assets. The problem is that the investment world is one of statistical noise. There are no rules per se. There are guidelines, but even those only

work most of the time. The past is not a prologue in the

investment world, but historical performance is still a strong reason many cite as their prime decision point on whether to invest or not. Caveat emptor if that is your approach to selecting investments, even when looking back 10 years.

If we look at another example of historical performance, it becomes clear that looking in the rearview mirror isn’t always the best approach. From 1969 to 2008, long-term Treasury bonds outperformed the overall stock market, despite the fact that stocks are supposed to provide superior long-run returns.

Forty years is certainly a long period of time, but would it have made sense to draw conclus ions f rom th is performance and move all your money into bonds in late 2008? As it turns out, no. From January 2009 through the third quarter of this year, stocks returned an annualized 15.5 percent versus only 2.9 percent for long-term Treasuries.

Despite what the data said back in 2008, intuitively, it had to seem like a bad idea to put all of your money into bonds. After all, bonds are higher up the capitalization spectrum, and therefore offer a lower risk profile. Over time, riskier stocks had to outperform, even if one anomalous period did occur.

Indeed, it is easy to find articles that talk about how investments work over the long

term, but even over long time periods, odd things can happen. Stocks can underperform bonds, national stock markets can stagnate (think Japan), and diversification can fail to live up to its promises.

Unfortunately, there is no good way to predict, and therefore avoid, these events. Timing in and out of the market has been discredited repeatedly by academics and practitioners. The only good approach is to stick with the practices that are known to work over time—even if they do not work every time.

Diversification is certainly one of those practices. Just like today’s environment, a diversified portfolio was a liability in the 1990s. Technology and internet stocks drove the market higher, but other market segments fell way behind. However, when the dot- c o m b u b b l e b u r s t i n 2 0 0 0 , diversification showed its value. Large-cap growth stocks declined materially, but value, small-cap and international stocks and real estate all held up pretty well. For the decade starting in 2000, diversification worked as advertised, and not just at generating stronger returns. A more balanced portfolio would have saved quite a lot of downside risk as well.

Looking ahead, it would not be surprising to see a variation on what happened in the 2000s. Valuations are quite a bit lower for value and small-cap stocks, and much lower for international stocks compared with domestic large-cap growth stocks. Perhaps a change of leadership in the stock market is overdue.

It is possible, as we have seen, for even the most sacred tenets of investing to fail to hold true over shorter periods. But that doesn’t make them any less relevant for long-term investors. Diversification is the most sacred of those tenets.

Mark Armbruster is president of Armbruster Capital Management Inc. He can be reached at (585)381-4180 or [email protected].

ON INVESTINGMark Armbruster

Local banks look to balance online services with branch offeringsBy MIKE COSTANZA

Rochester-area banks and credit unions are striving to meet their customers’ demands for onl ine , mobile phone-based and branch-based services.

“We th ink there i s a ba lance between brick-and-mortar and all the other channels that exist out there,” says Martin Birmingham, president and CEO of Five Star Bank.

The combination of electronic and face-to-face access is designed to allow customers convenient use of banks’ and credit unions’ services, and give them the chance to develop g o o d r e l a t i o n s h i p s w i t h t h o s e corporations and cooperatives.

With the proliferation of computers, electronic tablets, cellphones and the like, more and more people engage in all kinds of financial transactions with just the touch of a computer keyboard or smartphone screen. A

2017 American Bankers Association s tudy found tha t 26 percent of Americans access their bank accounts via mobile phones, and four in 10 do so online. Local financial institutions have watched their customers make increasing use of their online services in recent years, particularly those available via mobile phones.

“The rate of adoption of our mobile platform is faster than the rate of

o n l i n e , ” s a y s K e y B a n k Rochester Market President James Barger. “It’s being a c c e p t e d b y consumers very quickly.

Over at the ESL F e d e r a l C r e d i t

Un ion , t he d i f f e rence be tween customers’ online and mobile usage has grown striking in the past five years.

“When we look at our mobile banking users, they’ve grown 981 percent,” says Caytie Bowser, VP/director of product development & management “Our online banking users, so more of the desktop access, have grown 35 percent.”

The services people can access electronically include many that once required them to stand on teller lines, such as the monitoring of accounts. Those who have smartphones with the proper apps, or the right computers, software and scanners, can even deposit checks without venturing out. Just photograph both sides of the signed check with your phone, or scan them in to you r compu te r, and electronically transmit the images to your bank or credit union. Businesses can deposit checks using specialized desktop check scanners.

As convenient as such services are, there are others that fill even more interesting niches. A smartphone app

available from KeyBank allows peer-to-peer transfers of funds.

“‘Peer to peer’ is a direct payment f rom one consumer to ano the r consumer—person-to-person,” Barger says.

Say you’re out having dinner with a friend, want to pay half of the check, but find yourself short of cash. Just use the peer-to-peer app to t r ans f e r t he money f rom you r checking or savings account to that of your friend. Failing that, you could use your cell phone to pay the whole b i l l — i f i t s e q u i p p e d w i t h t h e appropr ia te app—and take your friend’s IOU.

Businesses can also monitor their accounts electronically, pay bills and engage in o ther bas ic f inancia l activities, along with a few that are more complicated.

“There’s more cash-management


Barger

Despite what the data said back in 2008, intuitively, it had to seem like a

bad idea to put all of your money into

bonds.



NOVEMBER 30, 2018 ROCHESTER BUSINESS JOURNAL / SPECIALREPORT PAGE 13

types of functions that are available through the mobile app for businesses, such as ACH origination,” Bowser explains. “That would probably be the biggest one that we’re seeing our businesses use.”

“ACH” (automated clearing house) is a National Automated Clearing House Association electronic funds transfer system that makes direct deposits, the transmission of tax refunds and payments, bill-paying and many other payment services possible.

The desire for greater electronic access to financial services and the provision of that access has already made itself felt at some local banks and credit unions. Since 2012, Five Star has watched its online transactions increase by approximately 25 percent, according to Birmingham. In-branch transactions fell by about the same percentage in that period.

Over at ESL, basic teller transactions have dropped an average of one percent annually in recent years.

“S ince 2015 , our to ta l t e l l e r transactions have decreased about 6 percent,” says Marcelina Nobrega Courtney, senior VP/director, retail banking.

Those who need to undertake more complicated procedures—such as applying for a mortgage or other type of loan—appear to have to do so directly with qualified bank or credit union employees. That gives those employees the chance to select the l o a n p r o d u c t s t h a t a r e m o s t appropriate.

“That happens when you’re interacting with the individual, whether on the phone or face-to-face in a branch,” Courtney says.

For example, a p e r s o n m i g h t finance the purchase of a $5,000 car using a car loan, home equity line of credi t or credi t card. Other services f o r i n d i v i d u a l consumers require

more of a hands-on approach, as well.“Planning for retirement and the

children’s education can be very complex,” Barger explains. “I think a lot of people take comfort from hearing that from a person, as opposed to just being online.”

M a n y h i g h e r- l e v e l b u s i n e s s -oriented products also call for more personal customer contact.

“When you have a complex product, or discussion that you want to have on a business loan, or business advice, many t imes our consumers—our customers—will come into the branch to sit down with personnel and receive guidance on that,” Barger explains.

In order to give that guidance, Five Star has trained its branch-based staff to be ready to discuss al l of i ts p roduc t s and se rv ices wi th i t s individual and business customers.

“We’ re t ry ing to engage our customers as soon as they walk through the door…so that we can listen carefully, and get to the solution as-soon-as-possible,” Birmingham explains.

In addition, the bank has changed the layouts of its branches, taking down some of the physical barriers that once stood between its customers and staff. Branch personnel are also r eady to head ou t to bus iness customers’ offices to discuss i ts products.

“The branch ends up being a hub of activity in support of good delivery,” Birmingham says.

In an effort to draw in customers, o r k e e p t h e m , s o m e f i n a n c i a l ins t i tu t ions tha t opera te in the Rochester area have combined phone/online services and those that involve face-to-face contact. KeyBank offers Hel lo Wal le t , a p rogram tha t ’s designed to help individual customers maintain or enhance their “financial wellness.” Customers can access the program via the Internet or a mobile phone, and at KeyBank’s branches.

Hel lo Wal le t asks a cus tomer questions about his or her financial life, provides a score from zero to 100 that represents that individual’s f i n a n c i a l w e l l n e s s , a n d o f f e r s recommendations as to what the p e r s o n c a n d o t o i m p r o v e i t . Customers can access the program via the Internet or a mobile phone, and at a KeyBank branch.

“Many times, a consumer will do that on their mobile or their online application, and then go to the branch to talk face-to-face with the branch p e r s o n n e l t o e x e c u t e t h e recommendations,” Barger says.

Hello Wallet has been so well-received, according to Barger, that KeyBank recently rolled out a similar

tool for use by its small business customers.

Five Star is experimenting with a new type of device that it’s placed in some of i ts branches. Called an interactive teller machine (IAT), the machine is essentially an enhanced ATM that’s equipped with a camera, video screen and microphone. The IAT provides direct video and audio links to Five Star’s call center, where a “teammate” stands ready to provide assistance

“That teammate will support the customer while they’re using that piece of equipment, to encourage them or to actually help them get that transaction completed,” Birmingham explains. “What that allows people to do is conduct traditional, teller-based transactions really unassisted.”

Efforts to balance online/mobile phone-based and branch services appear to be working, at least for some local banks and credit unions. Customer use of services that involve consultative interactions has risen by 19 percent at ESL’s branches since 2015, according to Courtney.

Local financial institutions have also grown in more obvious ways in recent years. ESL recently cut the ribbon on a new branch in Fairport and Five Star has opened at least four new branches since 2013.

“The future of branches is still bright. It’s just a question of how they are leveraged in support of a really t e r r i f i c c u s t o m e r e x p e r i e n c e , ” Birmingham asserts.

Mike Costanza is a Rochester-area freelance writer.

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NOVEMBER 30, 2018


Dorschel Automotive Group of Rochester announces the promotion of Evan Stark to general manager. Stark joined the Dorschel automotive team in 2007 and most recently served as vice president of sales. He is a Roberts Wesleyan College graduate.

Keiser

Noce

Dempsey

Ortloff

Finger Lakes Community College announces the addition of Jonathan Keiser, J.R. Dempsey, Louis Noce and the promotion of Debora Hinderliter Ortloff.

Keiser has been named provost and vice president for academic and student affairs. He previously served as deputy provost at City Colleges in Chicago. He has a Ph.D. in curriculum and instruction in science education from the University of Minnesota.

Dempsey has been named vice president of administration and finance. He previously served as associate vice chancellor of finance at City Colleges in Chicago. Dempsey is a certified public accountant and has a master’s degree in public affairs from the University of Texas at Austin.

Noce has been named chief advancement officer. He previously served as director of giving at Hartwick College. He has a master’s degree in student personnel from Buffalo State.

Ortloff has been promoted to vice president for strategic initiatives and assessment. She has a Ph.D. in education policy from Indiana University. She previously served as FLCC’s chief officer for assessment, planning and continuous improvement.

DeMoulin

The Arc of Monroe announces the hiring of Carol DeMoulin as executive director. She brings over 30 years of nonprofit experience to the role.

Petrillo

HR Works Inc. announces the hiring of Jennifer Petrillo as a leave and benefits coordinator. She has 17 years of experience in HR and has a master’s degree in public

administration from the College at Brockport.

Fiammi

Waterstram

Lovelady

Carl

Stein

Halstead

Covert

Defendis

Zimmerman

The Bonadio Group announces the following new hires as assistant a c c o u n t a n t s : Anthony Fiammi; Ashley Stein; and Koby Waterstram. The following

individuals are also new hires: Brandy Halstead, administrative assistant; Tracey Lovelady, controller; Anne Covert, seasonal tax preparer; Jordan Carl, IT customer support technician; Adam Defendis, senior accountant; and Carly Zimmerman, intern.

Knoblauch

Haskins

McGinnis

Parrinello

Dixon Schwabl announces the promotion of the following individuals: Andrew Knoblauch, Mike McGinnis; Roger Haskins; and Mat Parrinello.

Knoblauch has been promoted to director of content marketing and social media. He has 12 years of experience in the field and has been with Dixon Schwabl since 2013. He has a bachelor’s degree in management and marketing from St. John Fisher College.

McGinnis has been promoted to content marketing specialist, where he will be responsible for creating, managing and optimizing content calendars, podcasts and social media. He has a bachelor’s degree in marketing from Roberts Wesleyan College.

Haskins has been promoted to digital strategy supervisor, responsible for creating and executing strategies for the website development, email campaigns, banner ads and more. He has a bachelor’s degree in studio art from Roberts Wesleyan College and a master’s degree in business administration from Rochester Institute of Technology.

Parrinello has been promoted to data architect, where he will maintain complex database systems for business intelligence and marketing analytics applications for various clients. He has six years of marketing analytics experience and previously served as digital media analyst at the agency.

Ingalls

Northwest Bank announces the hiring of Bradley Ingalls as commercial lending officer. He has a bachelor’s degree and an M.B.A. from St. B o n a v e n t u r e University.

Wilcox

Girl Scouts of Western New York announces that Alison Wilcox has been appointed CEO. Wilcox previously served as COO for the past three years. She has 17 years of global

experience in organizational leadership including program development, membership, volunteerism, recruitment, education, fundraising and more.

Rubenstein

Jewish Senior Life announces the addition of Rabbi Steven Rubenstein as director of chaplaincy services. He will serve the spiritual needs of residents through group programs,

provide Jewish services of holidays lead end-of-life ceremonies and counsel residents and families. He has a bachelor’s degree in psychology from the University of Pennsylvania and was ordained at the Academy for Jewish Religion.

Beadle

Farahani

Buzyniski

Castro

Josselyn Miller

Raihan

Singletary

Perry

Sapor

Stage-Fiesinger

LaBella announces the following new hires: Lisa Beadle; Kennan Buzyniski; Nika Farahani; Cristina Ferreiro Castro; Lauren Josselyn; Andrew Miller; Christopher Perry; Najeebullah

Raihan; Trish Sapor; Kiki Singletary; and Jessica Stage-Fiesinger.

Beadle has been hired as a scheduler for the program management services division. She brings over 20 years of experience to the role.Buzyniski has been hired as a junior electrical engineer for the building engineering division. He previously worked as an electrician assistant for Buzyniski Electric.Farahani has been hired as a project technician for the architecture division. She previously worked as an architectural designer at APD Engineering & Architecture. Castro has joined the team as a project technician for the architecture division. She previously worked as an architect assistant for Manuel Fonesca Architects.

Josselyn has been hired as a project designer for the architecture division. She previously worked at Popli Design Group as an architectural designer.

Miller has joined the team as a gas engineer for the civil division. He has four years of industry experience.

Perry has been hired as a junior electrical engineer for the building engineering division. He previously worked as an electrical engineer at Clark Patterson Lee.Raihan has been hired as a field construction manager for the civil division. He has eight years of industry experience.Sapor has joined the firm as an SAP analyst for the program management division. She has 25 years of experience in office management.

Singletary has been hired as an interior designer for the architecture division. She was previously an intern in the same division at the firm.

NOVEMBER 30, 2018


The Rochester Business Journal welcomes press releases. Notices of business calendar events should be submitted three weeks before the event to ensure timely publication. Send digital submissions to [email protected].

FRIDAY, NOV. 30The Referral Team Chapter of Business

Network International Meeting—Free—7:15 a.m.—Hicks & McCarthy, 23 S. Main St., Pitts-ford—Also offered Dec. 7—Call Terry Kelley at 760-8870 for additional information.

Trillium Health End the HIV Epidemic Event—$75—6 – 9 p.m.—ARTISANworks, 565 Blossom Road, Rochester—Visit trilliumhealth.org/wad2018 to register.

SATURDAY, DEC. 1Life Learners Toastmasters Club—

Free—5 – 6:30 p.m.—Legacy at Clover Blos-som, 100 McAuley Drive, Brighton—Also of-fered Dec. 15—Visit 4323.toastmastersclubs.org for more information.

MONDAY, DEC. 3The August Group General Session—

Free—9:30 – 11 a.m.—Empire State College, 680 Westfall Road—Visitors are welcome—Also offered Dec. 6, 10 and 13—Email Greg Taylor at [email protected] for addi-tional information.

Finger Lakes Works-Ontario Career Club—Free—9 – 11 a.m.—3010 County Complex Drive, Canandaigua—Also offered Dec. 10—Call Cathy Levickas at 396-4020 for addition-al information.

RochesterWorks Job Networking Meet-ing—Free—9 – 11 a.m. and 1 – 3 p.m.—255 N. Goodman St.—Also offered Dec. 5, 10 and 12—Call 258-3500 for additional information.

East Rochester All Stars Networking Re-ferral Group Meeting—Free—8:30 – 9:30 a.m.—Lemoncello Italian Restaurant and Bar, 137 W. Commercial St., East Rochester—Also offered Dec. 6, 10 and 13—Call Jenalee Herb at 704-7839 for additional information.

TUESDAY, DEC. 4Mid Day Masters Chapter of Business

Network International Meeting—Free—11:30 a.m. – 1 p.m.—Radisson Hotel Rochester Air-port, 175 Jefferson Road, Henrietta—Also of-fered Dec. 11—Call Michelle Martorell at 319-2839 for additional information.

Networking Referral Group of Rochester Meeting—Free—7:15 – 8:30 a.m.—255 Wood-cliff Drive, Perinton—Also offered Dec. 11—Call 248-6718 for additional information.

Early Edition Business Professionals Net-working Group Meeting—Free—7:30 a.m.—Upstairs meeting room of Pittsford Wegmans, 3195 Monroe Ave., Rochester—Also offered Dec. 11—Call 427-2434 for additional informa-tion.

Success Unlimited Chapter of Business Network International Meeting—Free—Noon – 1:30 p.m.—The Back Nine Grill, 3500 East Ave., Pittsford—Also offered Dec. 11—Call Mike Kerwin at 764-0059 for additional infor-mation.

Speechcrafters Toastmasters Club Meet-ing—Free—6 p.m.—Cerame’s Italian Villa, 3450 Winton Place, Visitors are welcome—Also offered Dec. 18—Visit toastmasters.org for additional information.

Rochester Women Investors Forum Invest-ing Workshop—$75—11:30 a.m. – 4 p.m.—Penthouse at One East, One East Ave., Roch-ester—Visit nextcorps.org/event to register.

Rochester Women Investors Forum Pitch Event—$15—5 – 8 p.m.—Penthouse at One East, One East Ave., Rochester—Visit next-corps.org/event to register.

WEDNESDAY, DEC. 5Canaltown Connections Networking Re-

ferral Group Meeting—Free—7:30 – 8:30 a.m.—Browncroft Family Restaurant, 2501 Browncroft Blvd., #5—Also offered Dec. 12—Call Erin Garrett at 663-2265 for additional in-formation.

The August Group Early Morning Network-ing Session—Free—7:30 – 9 a.m. –Bruegger’s Bagels, 548 Monroe Ave.—Also offered Dec. 12—Email Maureen Nielsen at [email protected] for more information.

Postprandial Toastmaster Meeting—Free—6:30 – 9:30 p.m.—Lilian’s Restaurant & Party House, 2200 Penfield Road, Penfield—Also offered Dec. 19—Call Penne Vincent at 303-2325 for additional information.

Canandaigua Community Toastmasters Club Meeting—Free—4:15 – 5:15 p.m.—Canandaigua VA Medical Center, 400 Fort Hill Ave., Canandaigua—Also offered Dec. 19—Call Brenda Pulver at 393-7216 for additional information.

TNT Toastmasters International Meeting—Free—6:30 – 8:45 p.m.—Legacy at Willow Pond, 40 Willow Pond Way, Penfield—Visitors are welcome—Also offered Dec. 19—Call 346-0227 for additional information.

NextCorps Lunch & Learn—“Identify Who is Most Likely to Buy to Jumpstart Sales”—$15—11:30 a.m. – 1 p.m.—NextCorps, 260 E. Main St., Rochester—Visit nextcorps.org/event to register.

3rd Annual Upstate Capital Celebration & Awards—$125—4 – 8 p.m.—Arbor at the Port, 1000 N. River St., Rochester—Visit upstate-capital.org to register.

THURSDAY, DEC. 6Notable Networkers Chapter of Business

Network International Meeting—Free—7 – 8:30 a.m.—Knights of Columbus, 70 Barrett Drive, Webster—Visitors are welcome—Also offered Dec. 13—Call Jeff Maroney at 626-8016 for additional information.

Greece A Team Chapter of Business Net-work International Meeting—Free—7 – 8:30 a.m.—The Village at Unity, 1477 Long Pond Road, Greece—Visitors are welcome—Also offered Dec. 13—Call Brian Rotoli at 225-0203 for additional information.

Business Builders Chapter of Business Network International Meeting—Free—7 – 8:30 a.m.—Bayfront Restaurant, 1075 Empire Blvd., Penfield—Visitors are welcome—Also offered Dec. 13—Call David Cook at 872-2050 for additional information.

Rochester Business Connections Lead Group Meeting—Free—8:30 a.m.—Panorama Restaurant, 730 Elmgrove Road—Visitors are welcome—Also offered Dec. 13—Call Bill Sweet-land at 349-0336 for additional information.

Canaltown Connections Networking Group Meeting—Free—7 – 8:30 a.m.—Slayton Place Restaurant, 26 Slayton Ave., Spencer-port—Visitors are welcome—Also offered Dec. 13—Call 880-8156 for additional information.

Canalside Trailblazers Networking Group—Free—7 – 8:30 a.m.—Midvale Country Club, 2387 Baird Road, Penfield—Also offered Dec. 13—Call John French at 746-7810 for addi-tional information.

The August Group Thursday Night Net-working—Free—7 – 9 p.m.—St. Cecilia’s, 2732 Culver Road, Irondequoit—Visitors are wel-come—Also offered Dec. 13—Call Cliff Milligan at 654-6694 for more information.

BNI East End Networkers—Free—7 a.m.—Perkins Mansion, 494 East Ave., Rochester—Also offered Dec. 13—Call Natasha Polito at 329-5566 for more information.

The August Group Power Networking Groups—Free—8:30 – 10:30 a.m.—Denny’s, Rt. 96, Victor—Also offered Dec. 13—Email John Bayley at [email protected] for more information.

Daybreakers Toastmasters Club Meeting—Free—7:30 – 9 a.m.—Louise Slaughter Confer-ence Room, Strong Memorial Hospital, 421 Elmwood Ave., Rochester—Also offered Dec. 20—Email Hannah at [email protected] for additional information.

Worldleaders Advanced B2B Consultative Selling Training Class—$995—8:15 a.m. – 5 p.m.—120 East Ave., Rochester—Graduates of this class can repeat up to 11 times/months at no additional cost—Call Kate Lochner at 471-6058 for more information.

FRIDAY, DEC. 7Canandaigua Chamber of Commerce

QuickBooks 101 Class—$20 for members, $50 for non-members—11:30 a.m. – 1:30 p.m.—Pioneer Library System, 2557 Route 21, Canandaigua—Call 394-4400 ext. 203 for more information.

MONDAY, DEC. 10The August Group Orientation Session—

Free—9 – 9:30 a.m.—Empire State College, 680 Westfall Road—Also offered Dec. 13—Call Tracey Aiello at 259-0610 for additional infor-mation.

Speaking as Leaders Toastmasters Meet-ing—Free—5:45 p.m.—St. Ann’s Community, 1500 Portland Ave.—Also offered Jan. 14—Call 204-7763 for additional information.

Advanced Toastmasters Club of Roches-ter—Free—6:30 – 9 p.m.—Legacy, 40 Willow Ponds Way, Penfield—Visitors are welcome—Also offered Jan. 14—Call Marlene Markham at 899-4481 for additional information.

WEDNESDAY, DEC. 12August Group Meeting—Free—9:30 – 11

a.m.—RochesterWorks, 255 N. Goodman St.—Also offered Jan. 9—Call 258-3500 for addi-tional information.

NextCorps Event—“Prototypes, Patents & IP Protection for Hardware Startups”—Free—9 a.m. – 3 p.m.—NextCorps, 260 E. Main St., Rochester—Visit nextcorps.org/event to reg-ister.

Genesee Valley Chapter Society for Human Resource Management Event—“Developing Leaders for a Culture of Accountability”—$30 for members, $40 for non-members—7:30 – 10 a.m.—Landsman Development Corp., 3 Town-line Circle, Rochester—Visit gcvshrm.org to register.

THURSDAY, DEC. 13Frederick Douglass Toastmasters Club

Meeting—Free—7 p.m.—Baden Street Ad-ministration Building, 152 Baden St.—Visitors are welcome—Also offered Dec. 27—Call 325-4910, ext. 127, for additional information.

Lilac City Toastmasters Meeting—Free—7 – 9 p.m.—Immanuel Lutheran Church, 131 W. Main St., Webster—Visitors are welcome—Also offered Dec. 27—Call Kathy Jo at 820-9388 for additional information.

The August Group Jump Start Train-ing—$25 for two hour sessions—11 a.m. – 1 p.m.—Empire State College, 680 Westfall Road, Rochester—Also offered Dec. 27—Email John Bayley at [email protected] for more information.

Worldleaders 5th Annual CEO Confer-ence—“What it Takes for Growth Oriented CEOs to Penetrate New Markets and Win More Sales in 2019”—Free—7:30 – 10:30 a.m.—The Strong National Museum of Play, 1 Manhattan Square Drive, Rochester—Vis-it worldleaderssales.com/2018-sales-mar-keting-ceo-conference/ to register.

Greater Rochester Chamber of Com-merce Women’s Council event—“Building Your Briefcase: ATHENA Roundtable”—$10 for members, $15 for non-members—7:45 – 9:30 a.m.—Nixon Peabody LLP, 1300 Clin-ton Square, Rochester—Visit greaterroch-esterchamber.com to register.

APPLICATION FOR AUTHORITYMONROE COUNTYGlobal One80 Inc.33 Cardiana Drive, Rochester, N.Y. 14612Filer: Joaquin Vargas

AWARDS AND ACHIEVEMENTS

Brown Kulzer

Mujezinovic NanryMonroe Community College announces the following have been inducted into the MCC Alumni Hall of Fame: Lloyd Brown M.D. ’91; Mark Kulzer ’76; Selma Mujezinovic ’00; and Arlene Nanry ’03.

C&S Cos. announces the firm has been hon-ored for Engineering Excellence by the American Council of Engineering Cos., New York Chapter with a Platinum Award for the College at Brockport’s North Campus

Improvements project. Paychex Insurance Agency Inc., a subsid-iary of Paychex Inc., announces that the company has been ranked No. 12 on Busi-ness Insider magazine’s Best Places to Work in Insurance.

Pathfinder Engineers & Architects an-nounces the company has received a first place 2019 Technology Award from the American Society of Heating, Refrigerat-ing and Air-Conditioning Engineers.

The Community Design Center Rochester announces the following winners at the 2018 Reshaping Rochester Awards: Inner Loop East Transformation Project, Robert Ma-con Award for Urban Innovation; Michael Tomb and Marcia Zach, Betty Strasenburgh Award for Activism; and Ibero-American Development Corp., Joni Monroe Award.

The International Festivals & Events As-

sociation presented Park Avenue Summer Arts Festival with the Gold Award for best commemorative poster.

The Landmark Society of Western New York announces the following winners of Award of Merit: G.W. Todd-Wilmot Castle Co.; Tower280; and Kearney Hall tower and spire. Additionally, Abbey of Genesee won the Historic Landscape Award and Fran and George Gotcsik won the Special Achievement Award.

NextGen Rochester, an affiliate of the Rochester Area Community Foundation, an-nounces that Francis Clement has been honored with the 2018 Young Philanthropist of the Year Award.

Woods Oviatt Gilman LLP announces that the firm has been named a Best Law Firm by U.S. News & World Report – Best Law-yers.

NOVEMBER 30, 2018


The Canandaigua ATHENA Leadership Awards program announces that this year’s leadership recipient is Marge Don-hauser, and this year’s young professional leadership recipient is Jennie Erdle.

BANKRUPTCIESName: Sergey Rushanov, dba Buffalo Amer-icana LLCAddress: 6035 Whitegate Crossing, East Amherst, 14051Assets: $100,000 to $500,000Liabilities: $100,000 to $500,000Attorney: Peter D. GrubeaChapter: 13Date: Nov. 15Index Number: 1-18-12401

Name: Melody Ann Dzigbordi Yomekpe, dba Sole member of Asempi Kitchen LLCAddress: P.O. Box 150, Aurora, 13026Assets: $20,255Liabilities: $196,879Attorney: David H. EalyChapter: 7Date: Nov. 16Index Number: 1-18-12408

Name: Beaver Dairy Farm LLC, Tax ID/EIN: 26-3432653Address: 3785 Kirk Road, Randolph, 14772Assets: $1 million to $10 millionLiabilities: $1 million to $10 millionAttorney: Gary M. GraberChapter: 11Date: Nov. 18Index Number: 1-18-12409

Name: Beaver’s Trucking Co., Tax ID/EIN: 16-1588285Address: 3786 Kirk Road, Randolph, 14772Assets: $100,000 to $500,000 Liabilities: $50,000 to $100,000Attorney: Gary M. GraberChapter: 11Date: Nov. 16Index Number: 1-18-12411

Name: Giovanni Vincenzo Burgio; Heath-er Ann Burgio, fka Heather Hall, fdba Great Beginnings ChildcareAddress: 3537 Poplar Hill Road, Livonia, 14487Assets: $144,449Liabilities: $227,630Attorney: Peter ScribnerChapter: 7Date: Nov. 16Index Number: 2-18-21193

Name: Teresa A. Lindon, aka Teresa De-salvatore, fdba Linmor EnterprisesAddress: 88 White Springs Road, Geneva, 14456Assets: Less than $50,001Liabilities: $50,000 to $100,000Attorney: Todd A. MorthChapter: 7Date: Nov. 16Index Number: 2-18-21197

Name: Joseph L. Poinan, dba Sole mem-ber of Elite Cellular LLC; Lisa M. Poinan, dba Sole member of Jolee’s Cellular LLC, dba Utrade RocAddress: 60 Amy Lane, Rochester, 14626Assets: $100,000 to $500,000Liabilities: $500,000 to $1 millionAttorney: David H. EalyChapter: 7Date: Nov. 20Index Number: 2-18-21204

Name: Carl A. Retici, fdba Emeriss Creek Customs, dba Rochester Electrical LLC, fdba CRJ Custom ElectricAddress: 19 Richland St., Rochester, 14609Assets: $27,277Liabilities: $59,951Attorney: George MitrisChapter: 7Date: Nov. 21Index Number: 2-18-21206

Name: Steve P. Wischmeyer, dba Best Wish Window CleaningAddress: 79 Marlborough Road, Rochester, 14619Assets: $88,652Liabilities: $120,263.94Attorney: Todd A. MorthChapter: 7Date: Nov. 21Index Number: 2-18-21207

Name: Michael Z. Rich, fdba Executive EyewearAddress: 109 Harwood Road, Spencerport,

14559Assets: $400Liabilities: $103,769.73Attorney: William C. ReithChapter: 7Date: Nov. 21Index Number: 2-18-21212

DEEDSThis information is obtained from the Monroe County Clerk’s Office.

NVR Inc. and Ryan Homes of New YorkAmount: $318,175 and $306,360Seller: Kristie Gross, Brandon Gross, Mat-thew Smith and Stacy PadghamLocation: 1796 and 1802 Halesworth Lane, Ontario, N.Y. 14519Date filed: Sept. 24 and 28

Truman Place LLCAmount: $480,000Seller: CJW Holdings LLCLocation: 3000 Mt. Read Blvd., Greece, N.Y. 14616Date filed: Sept. 25

Beem Properties LLCAmount: $415,000Seller: Frocione Properties LLCLocation: 145 Fedex Way, Gates, N.Y. 14624Date filed: Sept. 26

Guoshi Corp.Amount: $370,000Seller: 695 South Clinton LLCLocation: 695-699 S. Clinton Ave., Roch-ester, N.Y. 14620Date filed: Sept. 27

Faber Builders Inc.Amount: $468,308Seller: Christina Oeun and Cesar DamironLocation: 18 Flinton Run, Churchville, N.Y. 14428Date filed: Sept. 27

Ben-Fall Development LLCAmount: $359,000Seller: James Evans and Linda EvansLocation: 7 Aviamore Drive, Hilton, N.Y. 14468Date filed: Sept. 28

Redstone Builders Inc.Amount: $339,315Seller: Benjamin Hallock and Nicole HallockLocation: 282 Gallant Fox Lane, Webster, N.Y. 14580Date filed: Sept. 28

Joseph Case and Vandussen Overbrook TrustAmount: $305,000Seller: Jill MichelLocation: 83 Overbrook Road, Pittsford, N.Y. 14618Date filed: Sept. 28

Mark 246 LLCAmount: $339,800Seller: Christopher Keller, Diana Keller and Keller Family TrustLocation: 83 E. Church St., Perinton, N.Y. 14450Date filed: Sept. 28

RM Equity Holdings LLCAmount: $268,646Seller: Donna SierkLocation: 87 Golden Oaks Way, Gates, N.Y. 14624Date filed: Sept. 28

Ben-Fall Development LLCAmount: $359,000Seller: James Evans and Linda EvansLocation: 7 Aviamore Drive, Hilton, N.Y. 14468Date filed: Sept. 28

DISSOLUTIONSMONROE COUNTYData Control Technology International Inc.Filer: Robert Evans Jr.

Janson Properties LLCFiler: Joseph Licata

Rick’s Distributing Inc.Filer: Michael Roth

STATE/COUNTY COURT JUDGMENTS SATISFIEDThis information is obtained from the Monroe County Clerk’s Office.

Almac Building Maintenance Inc.Creditor: Commissioner of LaborDate satisfied: Sept. 24

Decks Unlimited of Western New York Inc.Creditor: Commissioner of LaborDate satisfied: Sept. 24 and 27

Tomren Inc.Creditor: Commissioner of LaborDate satisfied: Sept. 24

OTM Technologies Inc.Creditor: Commissioner of LaborDate satisfied: Sept. 24

RBF Flooring LLCCreditor: Commissioner of LaborDate satisfied: Sept. 24

Rochester Regional Health SystemCreditor: Miles MooreDate satisfied: Sept. 24

Future Life of RochesterCreditor: Workers’ Compensation Board of the State of New YorkDate satisfied: Sept. 24

AR Culinary Services Inc. and Ludwigs Cetner Stage Café Creditor: Commissioner of Taxation and Fi-nanceDate satisfied: Sept. 25

Doctorpey Medical PLLCCreditor: Commissioner of LaborDate satisfied: Sept. 27

MECHANICS LIENThomas Gardner and Thomas C. Gardner Revocable Trust425 Merchants Road, Rochester, N.Y. 14609Lienor: Passero Realty Services LLCAmount: $10,620.00Date filed: Sept. 27

MECHANICS LIEN SATISFIEDVillage Green East Holdings LLC and First Choice GlassLienor: Bill Grays Inc.Date satisfied: Sept. 24

MORTGAGESThis information is obtained from the Mon-roe County Clerk’s Office.

Atlantic Funding & Real Estate LLCAmount: $500,000Mortgagee: Lobozzo Family Unlimited Part-nership and Joseph Lobozzo IIILocation: Sweden Walker Road, Clarkson, N.Y. 14420; W. Ridge Road, Clarkson, N.Y. 14420; and East Ave., Clarkson, N.Y. 14420Date filed: Sept. 24

Rochester Clad LLCAmount: $560,000Mortgagee: Family First of N.Y. Federal Cred-it UnionLocation: 1118-1120 Lake Ave., Rochester, N.Y. 14613Date filed: Sept. 24

Whitney Baird Associates LLC, County of Monroe Industrial Development Agency and Imagine Monroe Powered by ComidaAmount: $2,054,077.89Mortgagee: M&T Bank Location: 145 and 155 Culver Road, Roch-ester, N.Y. 14620 and 350 Rosedale St., Rochester, N.Y. 14620Date filed: Sept. 24

CJW Holdings LLCAmount: $384,000Mortgagee: ESL Federal Credit UnionLocation: 3000 Mt. Read Blvd., Rochester, N.Y. 14616Date filed: Sept. 25

R&J Properties of Rochester LLCAmount: $260,000Mortgagee: CNB Mortgage Co.Location: 33-35 Coventry Ave., Rochester, N.Y. 14610 and 26 Winbourne Road, Roch-ester, N.Y. 14611

Date filed: Sept. 25

3457 Union Street LLC, County of Monroe Industrial Development Agency and Imagine Monroe Powered by ComidaAmount: $17,000,000Mortgagee: M&T Bank Location: 3457 Union St., Chili, N.Y. 14514Date filed: Sept. 26

Froncione Properties LLCAmount: $310,000Mortgagee: Beem Properties LLCLocation: 145 Fedex Way, Gates, N.Y. 14624Date filed: Sept. 26

PDC Group LLCAmount: $312,000Mortgagee: 14 Atkinson St., Rochester, N.Y. 14608Location: Family First of N.Y. Federal Cred-it UnionDate filed: Sept. 26

695 South Clinton LLCAmount: $300,000Mortgagee: Joseph Cucit, Lorraine Cucit, Gary Nacca and Denise Nacca Location: 695-699 S. Clinton Ave., Roch-ester, N.Y. 14620Date filed: Sept. 27

HG&H Land Co. Inc.Amount: $1,073,773Mortgagee: Bank of CastileLocation: 5458 E. River Road, Henrietta, N.Y., 14586 and 4, 7 and 8 Harvest Ridge Trail, Henrietta, N.Y. 14586Date filed: Sept. 27

Fallone Family Associates LPAmount: $1,152,811.23Mortgagee: Lyons National BankLocation: 1670, 1672, 1674, 1678, 1680 and 1684 Empire Blvd., Penfield, N.Y. 14580Date filed: Sept. 27

NAME CHANGESGENESEE COUNTYNew name: Eden Café & Bakeshop LLCOld name: Eden Café & Bakery LLCFiler: Peter Casey

MONROE COUNTYNew name: CBK Partners LLCOld name: Choi & Burns LLCFiler: Kramer Levin Naftalis & Frankel LLP

New name: ‘K Leasing LLCOld name: K Holdings Rentals LLCFiler: Marino Law Group PLLC

New name: Perfect Impressions LLCOld name: Perfect Impression LLCFiler: Cheyenne Moseley

New name: Small to Tall, Dentistry for Children, PLLCOld name: Glowinsky & Harding DentistryFiler: Woods Oviatt Gilman LLP

New name: SWD Enterprises Inc.Old name: School Pictures Inc.Filer: Allstate Corporate Services Corp.

NAME RESERVATIONSMONROE COUNTYAJR IPA LLCFiler: Delaney DuganFiler’s address: 1300 Clinton Square, Roch-ester, N.Y. 14604Date filed: Sept. 14

NEW CORPORATIONSGENESEE COUNTYFriends of Machpelah Inc.P.O. Box 307, 45 W. Main St., Le Roy, N.Y. 14482Filer: Mark Boylan

MONROE COUNTY78-104 Inc.3900 Buffalo Road, Rochester, N.Y. 14624Filer: Richard Gilmore

88 HR Inc.3900 Buffalo Road, Rochester, N.Y. 14624Filer: Richard Gilmore

NOVEMBER 30, 2018


REQUEST FORPROPOSALS –

GENESEE‑FINGER LAKES SCENARIO TOOL

The Genesee Transportation Council (GTC) seeks proposals for consulting services to develop the GeneseeFinger Lakes Scenario Tool, a regionallycalibrated scenario tool for planning applications at the regional and local level that will support the quantitative evaluation of multiple development scenarios upon various indicators.Proposals are due by Friday, January 11, at 4:00 p.m.To request a copy of the Request for Proposals, please contact Alex Kone, Assistant Director, by email at [email protected] 11/30/18

REQUEST FORPROPOSALS – NYSDOT

HIGHWAY SAFETYINVESTIGATIONS

The Genesee Transportation Council (GTC), on behalf of the New York State Department of Transportation Region 4, seeks proposals for consulting services to conduct Highway Safety Investigations at various locations. The purpose of this project is to analyze crash data in an effort to identify distinguishable patterns and offer potential engineering solutions to reduce the potential for future crashes.Proposals are due by Friday, January 11, at 4:00 p.m.To request a copy of the Request for Proposals, please contact Alex Kone, Assistant Director, by email at [email protected] 11/30/18

NOTICE TO BIDDERS

Monroe County is seeking bids for the fol‑lowing items and/or ser‑vices. Specifications are available at

www.monroecounty.gov. Sealed bids will be public‑ly opened at the time and date stated below. Bids must be received prior to the time shown at the Of‑fice of the Purchasing Manager: Room 200, County Office Bldg., 39 W. Main St., Rochester, NY 14614; 585‑753‑1100.BP#120118AMES BUILDING RENOVATION PROJECTJanuary 4, 2019 2:00 pmBP#120218LAKE ROAD IMPROVE MENT PROJECTPHASE 1December 27, 2018 11:00 amBP#120318INMATE UNIFORMSDecember 18, 2018 11:00 amBP#120518LICENSE PLATE RECOGNITION (LPR) READY PORTABLE SPEED TRAIL ERDecember 18, 2018 11:00 amDawn C. StaubPurchasing Manager11656350 11/30/18

NOTICE OF FORMATIONOF

122 MONROE LLC

122 Monroe LLC filed Articles of Organization with the New York Secretary of State on October 19, 2018. (1) Its principal office is in Monroe County, New York. (2) The principal business location is 56 West Avenue, Brockport, New York 14420 (3) The Secretary of State has been designated as its agent and the post office address to which the Secretary of State shall mail a copy of any process against it is c/o The LLC, 56 West Avenue, Brockport, New York 14420. (4) Purpose: Any lawful purpose.11638592 10/26/18

3606 OTETIANA POINT LLC

NOTICE OF FORMATION OF 3606 Otetiana Point LLC filed Articles of Organization with the NYS DOS on October 17, 2018.

The DOS is designated as agent of the LLC upon whom process against it may be served. The office of the LLC and address to which the Secretary of State shall mail a copy of any process shall be 3606 Otetiana Point Drive, Canandaigua, NY 14424, Ontario County. The purpose of the LLC is to engage in any business permitted under law.11638409 10/26/18

5578 WEST RIDGEROAD LLC

NOTICE OF FORMATION OF 5578 WEST RIDGE ROAD LLC. Arts. of Org. filed with SSNY on 10/29/2018. Office location: Monroe County. SSNY designated as agent upon whom process may be served and shall mail a copy of any process to the principal business address: 8 Amity Street, Spencerport, NY 14559. Purpose: any lawful act or activity.11643063 11/02/18

NOTICE OF FORMATION

670 STONE RD LLC has filed Articles of Organization with the Secretary of State on September 20, 2018. Its office is located in Ontario County. The Secretary of State has been designated as agent upon whom process against it may be served and a copy of any process will be mailed to The LLC, 1777 Estate Dr, Farming ton, NY 14425. The pur pose of the LLC is any law ful activity.11637712 10/26/18

NOTICE OF FORMATION

NAME: 75 Irvington, LLC Articles of Organization filed with Secretary of State of New York (SSNY) on November 8, 2018. Principal office: Monroe County, New York. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail copy of process to 23 Stanford Rd. W. Rochester, New York, 14620, Attn: Member. Purpose: any and all lawful activities.11648814 11/16/18

NOTICE OF FORMATION

AGT Natale & Associates, LLC filed Articles of Organization with the New York Department of State on October 15, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served

and a copy of any process shall be mailed to 511 Wilkinson Road, Macedon (mailing), NY 14502. The purpose of the Company is provide accounting and bookkeeping services.11636578 10/26/18

NOTICE OF FORMATION

Notice of Form. of Allison Freiberger Properties LLC (the “LLC”). Art. of Org. filed with Secretary of the State of NY (SSNY) on 11/13/18. Office location: Monroe County. SSNY has been designated as agent of the LLC upon whom process against it may be served. SSNY shall mail process to the LLC, 259 West Ivy Street, East Rochester, NY 14445 Purpose: any lawful purpose.11651285 11/23/18

NOTICE OF FORMATION

Alsadeq LLC filed Articles of Organization with the New York Department of State on August 10, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of any process shall be mailed to 228 Arborwood Ln, Rochester, NY 14615. The purpose of the Company is transportation.11643072 11/9/18

NOTICE OF FORMATION‑

Ash HEALTH LLC filed Articles of Organization with the New York Department of State on 8/24/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of any process shall be mailed to Ash HEALTH LLC. The purpose of the Company is Consult ing Services and Invest ments.11639811 11/2/18

ATB INTERNATIONAL LLC

Notice of Formation of ATB International LLC. Articles of Organization filed with the New York Department of State on 10/10/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: 1665 Dewey Avenue Rochester, NY 14615. The purpose of the Company is any lawful activity.11636689 10/26/18

ATNOROM ENTERPRISES LLC

Notice of Formation of Atnorom Enterprises LLC. Articles of Organization filed with the New York De partment of State on 10/24/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: 183 Brooklea Dr, Rochester, NY 14624. The purpose of the Company is any lawful activity.11651302 11/23/18

NOTICE OF FORMATIONOF A LIMITED LIABILITY

COMPANY‑

Name: Balsam Naturals

LLC. Date: Articles of Organization filed with the NYS DOS on June 20, 2018. The DOS is designated as agent of the LLC upon whom process against it may be served. The office of the LLC and address to which the Secretary of State shall mail a copy of any process shall be 105 New Wickham Drive, Penfield, New York 14526 in Monroe County. The purpose of the LLC is to engage in any business permitted under law.11626776 11/2/18

NOTICE OF FORMATION

BAMF Management IV LLC filed Articles of Organization with the New York De partment of State on 10/17/2018. Its office is located in Monroe County.

3509 U.S. Inc.3900 Buffalo Road, Rochester, N.Y. 14624Filer: Richard Gilmore

Avdhesh Management Portland Inc.3513 Queensburg Lane, Friendswood, Texas 77546Filer: Dibble & Miller P.C.

Call and Response Ministries Inc.41 Brunswick St., Rochester, N.Y. 14607Filer: Tracy Jong

Everyone Convenience Inc.

1416 Culver Road, Rochester, N.Y. 14609Filer: Yazan Services Inc.

Evolution Dome U.S. Inc.3353 Brighton Henrietta Town Line Road, Rochester, N.Y. 14623Filer: Richard Kaul

Mega Cleaning Solutions Inc. 166 Canton St., Rochester, N.Y. 14606Filer: Hubco Inc. ServicesOlive and Rye Creative Inc.1287 Lake Road, Webster, N.Y. 14580Filer: Cheyenne Moseley

Peace Village Inc.402 South Ave., Rochester, N.Y. 14620Filer: Scott Leuenberger

Puschkin Properties Inc.1653 Creek St., Rochester, N.Y. 14625Filer: Woods Oviatt Gilman LLP

Solveig Studio Inc.280 Cheese Factory Road, Honeoye Falls, N.Y. 14472Filer: Dibble & Miller P.C.

Total Health Cannabinoids Inc.26 Jonquil Lane, Rochester, N.Y. 14612

Filer: Allstate Corporate Services Corp.

VBS Transport Inc.35 Ezio Drive, Rochester, N.Y. 14606Filer: BlumbergExcelsior Corporate Services Inc.

X Star Packages Inc.1447 St. Paul St., Rochester, N.Y. 14621Filer: Alexander Almonte

WAYNE COUNTYRoc the Standardbred Inc.4703 Cory Corners Road, Marion, N.Y. 14505Filer: Alyssa Hedges

MarketplaceLEGAL NOTICES

We are looking for the following major qualifications:a. Minimum of 15 years construction safety department

management experience.b. Experience with large construction and or vegetation projects.c. Excellent writing skills. Writing examples required.d. Knowledge of ISNetworld or other safety standard qualification

processes.Compensation will be based on experience and safety certifications.We offer complete benefit package and 401K match.e-mail resumes: [email protected]: 585-436-2900 (ext. 168)mail to: HR Dept., 755 Jefferson Road, Suite 200 Rochester N.Y. 14623

TERRY TREE SERVICE, LLC&

IRONWOOD HEAVY HIGHWAY, LLCROCHESTER 2018 TOP 100 #6

JOB OPENING: DIRECTOR OF SAFETY

CANANDAIGUA: Parkside / Firehall Dr.; 28.88 level acres in Uptown Canandaigua promotion area; over 700’ road frontage; Town encouraging mixed use development (residential/office/retail); rapidly growing part of the town; Permitted uses in current RB-1 zoning include business, professional, or financial offices, labs or R&D facilities, medical and dental offices; Use of available Mixed Use Overlay District expands possible uses considerably; contiguous with town 20 acre Blue Heron Park; $499,500 TEXT: H046877 TO: VIDEOS howardhanna.com/R1135512Ed Jackson, Lic. Associate RE Broker, C: 585-732-1271 O: 585-624-3370

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NOVEMBER 30, 2018

ROCHESTER BUSINESS JOURNALMarketplaceLEGAL NOTICES

The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of any process shall be mailed to 36 Golf Ave Pittsford, NY 14534. The purpose of the Company is any lawful activity.11643647 11/09/18

CARPENTER PARK APARTMENTS, LLC

CARPENTER PARK APARTMENTS, LLC: Notice of Formation of Limited Liability Company. Articles of Organization for CARPENTER PARK APARTMENTS, LLC (“LLC”) were filed with the Secretary of State of New York (“SSNY”) on 10/25/18. Office Location: Monroe County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail a copy of any process to the LLC, at c/o Park Grove Realty, LLC, 46 Prince St., Ste 2003, Rochester, NY 14607. Purpose: To engage in any lawful activity.11643545 11/02/18

COURTESY REFUNDSERVICES LLC

Notice of Formation of

Courtesy Refund Services LLC. Articles of Organization filed with the New York Department of State on 08/21/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: 1900 Empire Blvd. Suite #194 Webster, NY 14580. The purpose of the Company is any lawful activity.11612814 10/26/18

ERIE STATIONAPARTMENTS, LLC

ERIE STATION APARTMENTS, LLC: Notice of Formation of Limited Liability Company. Articles of Organization for ERIE STATION APARTMENTS, LLC (“LLC”) were filed with the Secretary of State of New York (“SSNY”) on 11/09/18. Office Location: Monroe County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail a copy of any process to the LLC, at c/o Park Grove Realty, LLC, 46 Prince St., Ste 2003, Rochester, NY 14607. Purpose: To engage in any lawful activity.

11654764 11/30/18

FACILINTENT LLC

Notice of Formation of FacilIntent, LLC. Articles of Organization filed with the New York Department of State on 8142018. Its office is located in Monroe County. The Secretary of The State has been designated as agent upon whom process against the Company may be served and a copy of any process shall be mailed to Michael Hauck, 105 Cuddy Court, Webster, NY 14580. The purpose of the Company is any lawful business.11644490 11/09/18

FARBRIDGE LLC

Notice of Formation Farbridge LLC filed Article of Organization with the New York Department of state on 06/08/2018. Its office is located in Monroe County. The secretaty of State has been designated as agent of the Company upon whom process against it may be served and copy of any process shall be mailed to 1006 Ly ell Ave, Rochester, NY 14606. The purpose of the Company is any lawful purpose.

11648894 11/16/18

GENRICH LLC

Genrich LLC filed Articles of Organization with the New York Department of State on 9/13/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of any process shall be mailed to 305 Crystal Creek Dr., Rochester, NY 14612. The purpose of the Company is Landscaping/Plowing.11631593 11/9/18

HILLCRESTPHOTOGRAPHY, LLC

Notice of Formation of Hillcrest Photography, LLC. Articles of Organization filed with the New York Department of State on 10/29/2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: Hillcrest Photography, LLC, 43 Hillcrest Dr., Penfield NY 14526. The purpose of the Company is

any lawful activity.11650366 11/16/18

NOTICE OF FORMATION

IWLTPMP, LLC filed Art. of Org. with the NY DOS on 10/09/18. Its office is located in Ontario County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of the process shall be mailed to 793 Canning Parkway, Victor, NY 14564. The purpose of the Compa ny is any lawful purpose.11644477 11/09/18

JPR GROUP, LLC

Notice of Qualification of JPR Group, LLC. The fictitious name is: JPRG STAFFING SERVICES LLC. Authority filed with NY Secy of State (SSNY) on 11/13/18. Office location: Monroe County. LLC formed in Florida (FL) on 10/14/15. SSNY is designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 187 Wolf Rd, Ste 101, Albany, NY 12205. FL address of LLC: 100 2nd Ave North, Ste 240, St. Petersburg, FL 33701. Cert.

of Formation filed with FL Secy of State, 2661 Execu tive Center Cir. West, Tal lahassee, FL 32301. Pur pose: any lawful activity.11654752 11/30/18

J. WEYKMAN TRUCKING, LLC

Notice of formation of J. WEYKMAN TRUCKING, LLC. Art. Of Org. filed with the Sect’y of State of NY (SSNY) on 10/15/18. Office in Ontario County. SSNY has been designated as agent of the LLC upon whom process against it may be served. SSNY shall mail process to the LLC, 3443 HopewellManchester TL Rd Clifton Springs, NY, 14432. Purpose: Any law ful purpose11637011 10/26/18

LNB GROUP, LLC

Notice of Formation of LNB Group, LLC. Articles of Organization filed with the New York Department of State on November 2, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: 71 South St

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NOVEMBER 30, 2018

ROCHESTER BUSINESS JOURNALMarketplaceLEGAL NOTICESPittsford NY 14534. The purpose of the Company is any lawful activity.11646145 11/09/18

NOTICE OF FORMATIONOF LIMITED LIABILITY

COMPANY

Notice is hereby given that Imperium Mechanical Sys tems, LLC, a limited lia bility company filed Articles of Organization with the Secretary of State on October 22, 2018. The principal office is located in the County of Monroe, State of New York and the Secretary of State is designated as agent upon whom process against it may be served. The address to which the Secretary of State shall mail a copy of process is: Imperium Mechanical Systems, LLC, c/o Adams Bell Adams, P.C., 28 East Main Street, Suite 600, Rochester, New York 14614. The purpose of the company is to engage in any lawful activity for which a company may be organized under Section 203 of the Limited Liability Company Act.11643067 11/02/18

OPTIMAL COMPLIANCE &ETHICS SOLUTIONS, LLC

Notice of Formation of Optimal Compliance & Ethics Solutions, LLC. Articles of Organization filed with the New York Department of State on November 7, 2018. Its office is located in Monroe County. United States Corporation Agents, Inc (“USCA”), 7014 13th

Avenue, Suite 202, Brooklyn, NY 11228 has been designated as agent upon whom process against the Company may be served. USCA shall mail a copy of process to: 17 West Church Street, Fairport, NY 14450. The purpose of the Company is any lawful activity.11652173 11/23/18

PG CARPENTER PARK, LLC

PG CARPENTER PARK, LLC: Notice of Formation of Limited Liability Company. Articles of Organization for PG CARPENTER PARK, LLC (“LLC”) were filed with the Secretary of State of New York (“SSNY”) on 10/25/18. Office Location: Monroe County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail a copy of any process to the LLC, at c/o Park Grove Realty, LLC, 46 Prince St., Ste 2003, Rochester, NY 14607. Purpose: To engage in any lawful activity.11643550 11/02/18

ROCHARIO LLC‑

ROCHARIO LLC. Arts. of Org. filed with SSNY on 09/20/18. Off. Loc.: Monroe Co. SSNY desig. as agt. upon whom process may be served. SSNY shall mail process to: The LLC, One E. Main St. Ste. 711 Rochester, NY, 14614. General Purposes.11628554 10/26/18

ROUTE 259 FAMILYRESTAURANT LLC

Notice of Formation of: ROUTE 259 FAMILY RESTAURANT LLC. Articles of Organization filed with the New York Department of State on SEPTEMBER 18, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: HELEN MACCONNELL SOLE MEMBER SPENCERPORT, NEW YORK 14559. The purpose of the Company is any lawful activity.11645432 11/09/18

SAR AVON EXPRESS LLC

Notice of Formation of SAR AVON EXPRESS LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/23/18. Office location: MONROE County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: SAR MAN BISTA, 76 SALZER HEIGHTS, WEST HENRIETTA, NY 14586, also the registered agent upon whom process may be served. Purpose: any lawful activities.11656652 11/30/18

SHORTSVILLEREINDEER FARM, LLC

Notice of Formation of: Shortsville Reindeer Farm, LLC Articles of Organization filed with the New

York Department of State on: August 24, 2018 Its office is located in Ontario County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: The LLC 4285 Shortsville Road Shortsville, NY 14548 The purpose of the Compa ny is any lawful activity.11654756 11/30/18

NOTICE OF FORMATION

Sugnet Photo, LLC filed Articles of Organization with the New York Department of State on September 25, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent of the Company upon whom process against it may be served and a copy of any process shall be mailed to 20 Upton Park #4, Rochester, NY 14607. The purpose of the Company is to engage in any business permitted under law.11643946 11/09/18

NOTICE

Name of the Limited Liability Company is Tactic Design Studio, LLC. Articles of Organization were filed by Department of State of New York on October 17, 2018. County of office: Monroe. The Secretary of State has been designated as agent upon whom process against the Company may be served. The address to which process shall be mailed: 319

Tremont Street, Rochester, NY 14608. Purpose: Any lawful activity.11638030 10/26/18

THE CLOUDFACTORY 2, LLC

Notice of Formation of The Cloud Factory 2, LLC. Arts of Org. filed with New York Secy of State (SSNY) on 5/23/18. Office location: Monroe County. SSNY is designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 680 Ridge Rd, Webster, NY 14580. Purpose: any lawful activity.11652169 11/23/18

THE ROCHESTERBEAUTY COMPANY LLC

Notice of Formation of The Rochester Beauty Company LLC. Articles of Organization filed with the New York Department of State on September 26, 2018. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: 203 Empire Blvd. Rochester, NY 14609. The purpose of the Company is any lawful activity.11654762 11/30/18

THE WARRIOR FACTORYFRANCHISING, LLC

Notice of Formation The Warrior Factory Franchising, LLC Arts of Org. Filed with Secy. of State of NY

2/21/2018. Ofc Loc.: Monroe Co. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail copy of process to The LLC, 2850 Clover St, Pittsford, NY 14534. Purpose: Any lawful activity.11642809 11/02/18

THE WARRIORFACTORY IP, LLC

Notice of Formation The Warrior Factory IP, LLC Arts of Org. Filed with Secy. of State of NY 7/6/2018. Ofc Loc.: Monroe Co. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail copy of process to The LLC, 2850 Clover St, Pittsford, NY 14534. Purpose: Any lawful activity.11642812 11/02/18

US2A TRAININGASSOCIATES, LLC

Notice of Formation of US2A Training Associates, LLC. Articles of Organization filed with the New York Department of State on 10/22/18. Its office is located in Monroe County. The Secretary of State has been designated as agent upon whom process against the Company may be served. SSNY shall mail a copy of process to: P.O. Box 299, West Henrietta, NY 14586. The purpose of the Company is any lawful activity.11642298 11/02/18

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Trusted by 130,000+ small businesses

The Rochester Celebrity Organ Recital Series, in col-laboration with the Eastman School of Music, opens the season with organist Renee Anne Louprette tonight. RCOS is administered by the Roch-ester AGO Chapter, partnering with Eastman, WXXI and vari-ous local churches.

Hailed as “splendid” and “one of New York’s finest organists” by The New York Times, Louprette has had an impressive career as organ recitalist, accompanist, con-ductor, church musician and teacher.

Louprette is currently uni-versity organist and coordina-tor of the organ department at Rutgers University’s Mason Gross School of the Arts. She is associated with many dis-tinguished music programs in New York City, having served as associate director of music at the Church of St. Ignatius Loyola, associate director of music and the arts at Trinity Wall Street, organist and asso-ciate director of the Unitarian Church of All Souls and direc-tor of music at the Church of Notre Dame.

The renowned organist regularly performs and re-cords throughout Europe and the United States. This fall she made her solo debuts at the Royal Festival Hall in London and the Cathedral of Notre Dame in Paris.

Louprette performs at 7:30 p.m. tonight at Christ Church. She is also offering a master class that is open to the public from 10 a.m. to 12:30 p.m. on Saturday at Christ Church. esm.rochester.edu

1Rochester Oratorio So-ciety is hosting its fifth annual holiday celebra-

tion with A City Sings for the Season. A night full of music and dance, ROS will be joined by the Hochstein Youth Singers, Borinquen Dance Theatre, the Mt. Ver-non Missionary Baptist Male Chorus, Spiritus Christi Gos-pel Choir and ROCMusic Collaborative. 3 p.m. Sun-day at the Port of Rochester. ROSsings.org

2The Multi-Use Com-munity Cultural Center presents Neil Simon’s

“Rose’s Dilemma.” Directed by Kevin Indovino, Rose is an author suffering from writers block and a tight wallet when a former lover offers her an opportunity to reclaim fame and her life from beyond the grave. Performances to-night and Saturday at 7:30 p.m. and Sunday at 2 p.m. at MuCCC. muccc.org

3Yuletide in the Country Tours commence tonight at Genesee Country Vil-

lage & Museum. Travel back in time and see how the holidays were celebrated throughout the 1800s from Civil War time to the Victo-rian era. Fridays, Saturdays and Sundays through Dec. 16. gcv.org

4Tomorrow is Bishop Ke-arney’s third annual Craft & Home-Sale Vendor

Fair. Stop by and grab some food while browsing through unique items and crafts made by local artists. 11 a.m. to 4 p.m. Saturday. bkhs.org

5The Finger Lakes Cam-erata is celebrating the holidays with a concert

titled “Gloria in Excelsis Deo” this weekend. The cho-ral group is based at Finger Lakes Community College under the direction of Den-nis Maxfield. The program will include holiday favorites like “Silver Bells,” “What Child is This” and “See Amid the Winter’s Snow.” 3 p.m. on Saturday at First Congregational Church. cal-endar.flcc.edu


11.30.18

A kiss chAnges everything

Craig Lucas’ dramatic comedy “Prelude to a Kiss” opens at the College at Brockport this weekend.

Think “Freaky Friday.” Or “Big.” Or “18 Again.” On the surface, “Prelude to a Kiss” is yet another story about people inhabiting bodies that are not their own. Below the surface, however, are serious undertones about our commitments and what we go through to honor them.

Peter and Rita meet, fall in love and at their wedding reception a strange, uninvited old man asks to kiss the bride. Enter: souls switching bodies. From this point forward, according to director Ruth Childs, “a little bit of magic, a little bit of laughter and a little bit of misty-eyed poignancy” are captured.

Lucas wrote this at the height of the AIDS crisis, when he was surrounded by young, vibrant couples like Peter and Rita. Unfortunately, he saw many of his friends turn into old men overnight as they suffered through the symptoms of AIDS and the accompanying side effects of treatment.

According to Childs, “The play is relevant to audience members of any age. It’s about the fragility of love, the importance of kindness and the enduring nature of human connection.”

Opening show tonight at 7:30. See website for full schedule. brockport.edu/academics/fine_arts

WEEKEND

BESTBETS crockery

Main Street Arts is displaying ceramics from near and far. The Cup, The Mug is the gallery’s third annual national juried exhibition of drinking vessels. Roughly 100 cups made by 56 artists from 26 states are featured in the exhibit. Artists come from as close as Canandaigua and Rochester to as far away as California and Hawaii. A celebration for the artists and their works begins at 4 p.m. Saturday. Exhibit runs through Dec. 15. mainstreetartsgallery.com

Submit events: Send ideas for events to be included on the Explore page to Nicole Sheldon at [email protected].

PAGE 20

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Arc Foundation of Monroe

Big Brothers Big Sisters of Greater Rochester

Nov. 2: The Arc Foundation of Monroe celebrated its second annual Toast to the Arc at the George Eastman Museum and raised $40,000 towards support for people with intellectual and developmental disabilities. About 200 people attended.

Nov. 6: Big Brothers Big Sisters of Greater Rochester hosted their Guest Bartending Event at Monroe’s Restaurant. There were 110 people in attendance and $4,500 was raised to help Big Brothers Big Sisters make matches in the Rochester and surrounding communities.

From left, Donnell Evans, Antonietta Alfano, Cliff Bostic, Brian Potvin and Lindsey Graser

Lisa and Michael PowersBarbara Wale and Mara Hynes-Huberlie

Yesenia Fonseca and Tina Christensen

Foundation of the Monroe County Bar Association Nov. 9: Foundation of the Monroe County Bar’s 8th Annual Jazz for Justice was held at Harro East Ballroom with more than 170 people participating. About $35,000 was raised to meet the needs of community programs such as Lawyers for Learning and Rochester Teen Court.

From left, Mary Jane Angelone, Diane Cecero and Robert Brucato

From left, Jon Getz, Mark Moretti, Richard Dollinger and C. Bruce Lawrence

From left, Jennifer Leonard, Carolyn Nussbaum and David Cay Johnston

NOVEMBER 30, 2018


PORTFOLIO A weekly report compiled from the proxy statement and annual report of a publicly held company with local headquarters or a major division in the area

New York Stock Exchange-BKS Barnes & Noble Inc. of New York City is a bookseller with stores in all 50 states and

the District of Columbia; it also develops digital reading products and sells goods online at www.barnesandnoble.com.

The company has two operating segments: B&N retail and NOOK. In addition to a trade book title base, B&N retail’s 630 bookstores (as of April 28, 2017) generally include a café and departments dedicated to juvenile books, toys and games and music; they often offer in-store events such as author appearances and activities for children. The B&N retail segment also includes the company’s eCommerce website and its publishing operations, Sterling Publishing. In 2018, the segment generated some 97 percent of the company’s total revenue. NOOK, which accounted for the remaining 3 percent of B&N’s 2018 revenue, includes the company’s digital business, comprising an e-bookstore, a digital newsstand and sales of Nook devices and accessories.

On July 3, 2018, the Barnes & Noble Inc. board of directors announced that it had terminated the contract of the company’s CEO, Demos Parneros, for reasons later specified by the company of “sexual harassment, bullying behavior and other violations of company policies.” Parneros was also removed from the board.

Barnes & Noble Education Inc., an independent public company created in the August 2015 spinoff of the former Barnes and Noble College division, currently operates 760 Barnes & Noble college bookstores nationwide.

Including seasonal and temporary employees, the Barnes & Noble retail segment employs some 23,000 people, comprising 8,000 full-time and 15,000 part-time employees. Three of the 38 Barnes & Noble retail stores in New York are located in the Rochester area.

Barnes & Noble reported 2018 sales of $3.7 billion, down 6 percent from $3.9 billion in 2017. The company lost $125 million in 2018, or $1.73 per share, following net income of $22 million or 30 cents per share reported for the prior year. Net cash provided by operating activities was $37 million; net cash used in investing activities was $88 million; and net cash provided by financing activities was $49 million.

The company’s fiscal year ended April 28, 2018. Common shares outstanding on Oct. 31.…………………… ............................... 73,169,887 Price per share of common stock on Nov. 27. ........... ...................................................$7.09 Total market value on Nov. 27 ........................................................................... $518,774,499 Controlled by all directors and officers as a group ............................................ 15,012,938 (20.5 percent)

Performance Record (Dollars in millions, except per-share data) 2018 2017 2016 2015 2014 Revenue $3,662 $3,895 $4,164 $4,297 $4,633 Net income (125) 22 (24.4) 36.6 (47.3) Net income (loss) per share (1.73) 0.30 (0.49) 0.21 (1.12) Dividends per share 0.60 0.60 0.60 - -- Total assets 1,750 1,933 2,013 3,112 3,393 Long-term debt 158.7 64.9 47.2 - - Shareholders’ equity 411.9 574.3 603.5 1,189.4 658.7 Operating cash flow (loss) 37 147 196 (.73) 276 Investing cash flow (loss) (88) (96) (94) (95) (93) Financing cash flow (loss) 49 (52) (48) (170) (12)

Directors Total stock-based holdings1 Leonard Riggio, 77, founder and executive chairman.......................................... . 14,052,132 William Dillard II, 73, chairman and CEO, Dillard’s Inc. .............................................. 116,164 Patricia Higgins, 68.......................... .......... ...................................................................87,388 George Campbell Jr., 72 ................................................................................................ 72,950 Scott Cowen, 72 ............................................................................................................. 60,660 Mark Carleton, 58, chief financial officer, Liberty Media Corp....................................... 55,919 Paul Guenther, 78 .......................................................................................................... 41,765 Al Ferrara, 67 ................................................................................................................. 28,563 Kimberly Van Der Zon, 57 ............................................................................................. 17,605

Executive Compensation Officer 2018 compensation2 Demos Parneros, former CEO ................................................................................ $5,809,790 Allen Lindstrom, chief financial officer ...................................................................... 1,429,328 William Wood, vice president, chief digital officer .................................................... 1,138,158 Frederic Argir, former vice president, chief digital officer ......................................... 1,093,189 Mary Ellen Keating, senior vice president, corporate communications and public affairs ....................................................................................................... 1,025,293 Leonard Riggio, former CEO, chairman ...................................................................... 163,071 Above executive officers as a group .............................................................. $10,658,829 Footnotes: 1Individual’s total stock-based holdings, as defined in notes to Stock Ownership Information tables

in the company’s 2018 Proxy Statement. 2Includes salaries, bonuses, value of stock and option awards, non-equity incentive plan

compensation, change in pension value and nonqualified deferred compensation earnings, and all other compensation.

Stock Performance Price of Barnes and Noble Inc. Common Stock

at Fiscal Year-End

$0

$5

$10

$15

$20

$25

20182017201620152013

Researched by Andrew Green © 2018 Rochester Business Journal

LOCAL STOCK PERFORMANCECLOSING

PRICE11-26-18

CLOSING PRICE

11-19-18

NET CHANGE IN

PERIOD

PERCENT CHANGE

IN PERIODP/E

RATIO

EARNINGS PER

SHARE1

ANNUAL DIVIDEND

RATE252 - WEEK

HIGH LOW

ADT Inc. (NY-ADT) 7.60 7.68 -0.08 -1.04 30.98 0.24 0.14 13.02 6.93

AT&T Inc. (NY-T) 29.95 30.35 -0.40 -1.32 5.86 5.15 2.00 39.33 28.85

Avangrid Inc. (NY-AGR) 49.10 50.61 -1.51 -2.98 38.09 1.29 1.76 54.55 45.17

Bank of America Corp. (NY-BAC) 27.56 27.75 -0.19 -0.68 13.25 2.10 0.60 33.05 25.88

Bausch Health Cos. Inc. [NY: BHC]3 23.56 23.50 0.06 0.26 LOSS -9.38 NONE 28.45 20.38

Berry Global Group (NY-BERY) 49.79 49.95 -0.16 -0.32 13.75 3.67 NONE 61.71 40.50

BioTelemetry (NAS - BEAT) 63.73 60.54 3.19 5.27 133.17 0.48 NONE 70.00 25.20

CVS Health Corp. (NY-CVS) 77.84 78.55 -0.71 -0.90 25.57 3.04 2.00 83.88 60.14

The Carlyle Group LP (NAS-CG) 19.20 17.58 1.62 9.22 13.12 1.45 1.68 25.90 16.82

Charter Communications Inc. (NAS-CHTR) 313.23 323.60 -10.37 -3.20 8.13 38.93 NONE 396.64 250.10

Citigroup Inc. (NY-C) 63.73 64.62 -0.89 -1.38 LOSS -2.51 1.80 80.70 61.72

Citizens Financial Group Inc. (NY-CFG) 36.06 35.95 0.11 0.31 9.25 3.92 1.08 48.23 34.82

Conduent Inc. (NY-CNDT) 13.25 13.25 0.00 0.00 LOSS -0.38 NONE 23.39 12.18

Constellation Brands Inc. Class A (NY-STZ) 194.11 193.39 0.72 0.37 11.77 16.70 2.96 236.62 187.87

Constellation Brands Inc. Class B (NY-STZB) 195.51 194.85 0.66 0.34 NA NA 2.68 232.50 191.10

The Cooper Cos. Inc. (NY-COO) 272.52 256.80 15.72 6.12 104.84 2.58 0.06 280.10 216.47

Corning Inc. (NY-GLW) 31.54 31.16 0.38 1.22 LOSS -0.88 0.72 36.56 26.11

CurAegis Technologies Inc. (OTC-CRGS) 0.26 0.23 0.03 10.87 LOSS -0.14 NONE 0.49 0.10

Delphi Technologies PLC (NY-DLPH) 17.81 16.94 0.87 5.14 5.52 3.14 0.68 60.39 16.13

Document Security Systems Inc. (AMEX-DSS) 0.96 0.89 0.07 7.71 8.31 0.12 NONE 3.16 0.83

Eastman Kodak Co. (NYS-KODK) 4.11 4.30 -0.19 -4.42 1.64 2.50 NONE 13.28 2.20

EnPro Industries Inc. (NY-NPO) 67.19 67.63 -0.44 -0.65 17.90 3.75 0.96 94.79 57.31

Exelon Corp. (NY-EXC) 45.20 46.10 -0.90 -1.95 11.81 3.84 1.38 46.32 35.57

Exxon Mobil Corp. (NY-XOM) 76.98 79.22 -2.24 -2.83 14.13 5.44 3.28 89.30 72.16

FSB Bancorp Inc. (NAS-FSBC) 16.40 16.50 -0.10 -0.61 LOSS -0.05 NONE 18.50 16.19

Financial Institutions Inc. (NAS-FISI) 29.29 29.18 0.11 0.38 11.18 2.62 0.96 34.35 26.48

Fortive Corporation (NY-FTV) 73.20 73.76 -0.56 -0.76 23.00 3.16 0.28 88.34 69.03

Frontier Communication Corp. (NAS-FTR) 3.56 3.81 -0.25 -6.56 LOSS -19.02 NONE 11.64 3.49

Gannett Co. Inc. (NY-GCI) 10.34 9.77 0.57 5.83 79.24 0.13 0.64 12.38 9.04

Genesee & Wyoming Inc. (NY-GWR) 79.67 80.50 -0.83 -1.03 7.97 9.99 NONE 92.91 67.61

Graham Corp. (NY-GHM) 25.14 25.07 0.07 0.28 LOSS -0.69 0.40 28.98 19.76

HSBC Holdings PLC (NY-HSBC) 43.17 41.91 1.26 3.01 16.10 2.66 2.00 55.89 38.23

Harris Corp. (NY-HRS) 145.76 148.10 -2.34 -1.58 22.39 6.36 2.74 175.50 138.08

IEC Electronics Corp. (AMEX-IEC) 5.30 5.18 0.12 2.32 26.36 0.20 NONE 6.80 3.42

ITT Corp. (NY-ITT) 54.60 55.20 -0.60 -1.09 22.53 2.42 0.54 63.04 46.10

International Business Machines Corp. (NY-IBM) 119.56 120.31 -0.75 -0.62 19.24 6.21 6.28 171.13 114.09

J.C. Penney Co. Inc. (NY-JCP) 1.38 1.27 0.11 8.66 LOSS -0.27 NONE 4.75 1.05

JPMorgan Chase & Co. (NY-JPM) 109.26 110.83 -1.57 -1.42 13.58 8.06 3.20 119.33 97.97

Keurig Dr Pepper Inc. (NY-KDP)4 26.68 27.44 -0.76 -2.77 0.24 109.71 0.60 123.77 20.46

KeyCorp. (NY-KEY) 18.31 18.26 0.05 0.27 12.78 1.43 0.68 22.40 16.48

Kohl's Corp. (NY-KSS) 65.67 71.00 -5.33 -7.51 11.06 6.01 2.44 83.28 44.93

Kraft Heinz Co. (NAS-KHC) 51.07 51.89 -0.82 -1.58 6.06 8.46 2.50 82.48 50.41

M&T Bank Corp. (NY-MTB) 170.07 168.58 1.49 0.88 15.40 10.99 4.00 197.37 154.33

Macy's Inc. (NY-M) 32.56 33.08 -0.52 -1.57 6.05 5.47 1.51 41.99 21.12

Manning & Napier (NY-MN) 1.71 1.78 -0.07 -3.93 18.79 0.09 0.08 4.35 1.65

Metlife Inc. (NY-MET) 43.79 43.67 0.12 0.27 8.72 5.07 1.68 55.21 39.31

Monro Muffler Brake Inc. (NAS-MNRO) 81.01 75.79 5.22 6.89 38.04 2.13 0.80 81.63 47.55

New Media Investment Group Inc. (NY-NEWM) 13.29 13.47 -0.18 -1.34 23.62 0.56 1.52 19.10 13.00

Parker Hannifin Corp. (NY-PH) 166.29 167.57 -1.28 -0.76 19.26 8.52 3.04 212.80 143.00

Paychex Inc. (NAS-PAYX) 68.41 68.41 0.00 0.00 25.67 2.67 2.24 76.02 59.36

SPX Flow Inc. (NY-FLOW) 36.79 35.41 1.38 3.90 14.93 2.40 NONE 54.92 33.85

Sears Holding Corp. (NAS-SHLD) 0.37 0.37 0.00 0.00 LOSS -12.14 NONE 5.40 0.28

Seneca Foods Corp. Class A (NAS-SENEA) 33.45 32.87 0.58 1.76 LOSS -1.18 NONE 35.90 25.45

Seneca Foods Corp. Class B (NAS-SENEB) 33.07 34.14 -1.07 -3.13 LOSS -1.18 NONE 35.37 27.00

Shiseido Co. Ltd. (OTC-SSDOY) 66.32 64.60 1.72 2.66 27.85 2.35 0.32 84.00 47.08

Stantec Inc. (NY-STN) 23.68 23.59 0.09 0.38 51.68 0.46 0.42 29.25 23.05

Stewart Information Services Corp. (NY-STC) 41.81 41.48 0.33 0.80 19.13 2.16 1.20 47.37 38.72

Synnex Corp. (NY-SNX) 75.61 76.44 -0.83 -1.09 10.70 6.94 1.40 141.94 72.83

Target Corp. (NY-TGT) 69.25 77.15 -7.90 -10.24 12.24 5.71 2.56 90.39 55.42

Thermo Fisher Scientific Inc. (NY-TMO) 240.19 232.88 7.31 3.14 37.77 6.34 0.68 249.95 181.51

Thomson Reuters Corp. (NY-TRI) 49.03 48.44 0.59 1.22 30.90 1.58 1.40 49.14 36.52

Tompkins Financial Corp. (AMEX-TMP) 79.19 78.29 0.90 1.15 18.57 4.28 2.00 91.99 70.00

Transcat Inc. (NAS-TRNS) 20.25 20.48 -0.23 -1.12 21.22 0.97 NONE 25.35 12.75

Ultralife Corp. (NAS-ULBI) 7.66 7.55 0.11 1.46 13.69 0.56 NONE 10.95 5.80

United Technologies Corp. (NY-UTX) 127.98 127.85 0.13 0.10 19.39 6.22 2.94 144.15 115.40

Verizon Communications Inc. (NY-VZ) 59.17 60.62 -1.45 -2.39 7.66 7.82 2.41 61.58 46.09

Vuzix (NAS-VUZI) 5.80 5.76 0.04 0.69 LOSS -0.93 NONE 11.40 4.90

Wal-Mart Stores Inc. (NY-WMT) 95.15 96.78 -1.63 -1.68 54.32 1.75 2.08 109.98 81.78

Windstream Holdings Inc. (NAS:WIN) 3.36 3.64 -0.28 -7.69 LOSS -51.43 NONE 13.65 3.03

Xerox Corp. (NY-XRX) 25.84 26.53 -0.69 -2.60 59.93 0.43 1.00 37.42 23.52

1Earnings per share are for the company’s most recent four quarters.2Forward annual rates based on most recent company filing3 Valeant Pharmaceuticals International Inc. changed its name to Bausch Health Cos. Inc. on July 13; the company’s stock began trading under a new symbol, “BHC”, on July 16.4Shares of Keurig Dr Pepper began trading on July 10, following the merger between Keurig Green Mountain and Dr Pepper Snapple Group.

NOVEMBER 30, 2018


Source: CoreLogic

Rochester’s jobless rate passed an important threshold in September and October.

Adjusted for seasonal variation, metro area unemployment fell to 3.9 percent—the lowest monthly reading since June 2001 (Figure 1).

The drop in joblessness is a byprod-uct of a year-long pickup in local hir-ing demand. Following sluggish pay-roll gains in 2017, private sector em-ployers have added an average of 5,600 jobs in the Rochester area through October, representing a 1.2 percent year-over-year increase.

The positive hiring momentum will likely continue into 2019 based on feedback from M&T’s third quarter Economic Outlook survey of midsized companies across the Bank’s geo-graphic footprint.

Among Rochester respondents, 38 percent said that they would be adding new employees through early 2019, while just 3 percent anticipated reduc-ing payroll headcount.

Robust labor demand presents sig-nificant challenges to hiring managers looking to add and retain talent.

Over half of local survey partici-pants reported having difficulty find-ing qualified applicants to fill avail-able openings—with 28 percent re-porting significant trouble filling new jobs.

Competition for new workers, as well as ongoing ef-forts to retain exist-ing employees may be putting modest upward pressure on local wage rates.

Roughly 40 per-cent of Rochester survey respondents indicated they would increase

2019 wages to attract new employ-ees—with half pegging the hikes at between 2 and 3 percent and 12 per-cent anticipating increases of more than 3 percent.

In contrast, fewer than one-in-three firms reported plans to hold 2019 wage increases below 2 percent.

Other talent acquisition strategies expected to be used in the coming year include expanded training programs for existing employees (41 percent), stepped up recruitment efforts outside of Rochester (21 percent), and in-creased employee benefits to enhance compensation competitiveness (14 percent).

As such, the “war for talent” will continue to be a major economic theme to watch in 2019.

Gary Keith is vice president and region-al economist at M&T Bank Corp.

New York’s foreclosure rate of 1.6 percent was the nation’s highest in August, but was also a significant improvement over the August 2017 figure of 2.1 percent, according to the Nov. 20 Loan Performance Insights report by CoreLogic, a data and analytics company. The report documents a continued improvement in mortgage loan performance nationwide, highlighted by a U.S. foreclosure rate of 0.5 percent — the lowest August figure in twelve years. Colorado and Utah had the nation’s lowest foreclosure rates, according to CoreLogic: only 0.1 percent of the mortgaged homes in those states were in foreclosure in August.

—Andrew Green

SPOTLIGHTN.Y. has nation’s highest mortgage foreclosure rate

Demand for workers sends unemployment rate lower

GENESEE COUNTY

UNEMPLOYMENT RATESLIVINGSTON COUNTY

MONROE COUNTY ONTARIO COUNTY

WAYNE COUNTYORLEANS COUNTY

(percentage)

2

3

4

5

6

7

2

3

4

5

6

7

2

3

4

5

6

7

2

3

4

5

6

7

3

4

5

6

7

8

2

3

4

5

6

7

O N D J F M A M J J A S O O N D J F M A M J J A S O






TOTAL NON-FARM

EMPLOYMENT, ROCHESTER METRO AREATOTAL PRIVATE

FINANCIAL ACTIVITIES GOVERNMENT

MANUFACTURINGHEALTH CARE AND SOCIAL ASSISTANCE

(thousands of people)

450

500

550

600

350

400

450

500

15

20

25

50

75

100

50

75

100

45

55

65

Total Non-Farm 534.9 542.2 543.0 542.9 524.9 533.3 534.3 539.9 546.0 546.9 536.5 534.5 541.8Total Private 457.3 461.5 461.9 461.2 445.9 452.2 453.3 458.7 464.8 466.4 464.2 462.3 463.9Financial Activities 21.7 21.3 21.4 21.6 21.5 21.7 22.0 22.1 22.7 23.0 23.5 23.5 22.7Government 77.6 80.7 81.1 81.7 79.0 81.1 81.0 81.2 81.2 80.5 72.3 72.2 77.9Health Care and Social Assistance 82.9 83.6 84.3 84.7 84.4 83.6 83.9 84.3 84.2 85.8 84.4 83.8 83.8Manufacturing 57.5 57.6 57.9 57.8 56.9 57.6 57.4 57.5 58.4 59.1 58.4 58.7 58.2

MONTHLY

AUTOMOTIVE SALES

YEAR-TO-DATE

(new vehicles registered in Monroe County)

30000

32400

34800

37200

39600

42000

YTD OCTOBER 2017 YTD OCTOBER 2018

0

1000

2000

3000

4000

5000

AUGUST ’17 AUGUST ’18 SEPT. ’17 SEPT. ’18 OCTOBER 17’ OCTOBER 18’

Automotive Sales New Car Sales last appeared 09.07.18 (3 pairs of bars, by month) New Car Sales 2017 2018June 4193 4287July 4312 4022August 4707 4350Scale: 0 to 5000, increments of 1000

MONTHLY

MORTGAGE FILINGS

YEAR-TO-DATE

(no. of filings, Monroe County)

0

500

1000

1500

2000

2500

S O N D J F M A M J J A S

14000

14500

15000

15500

16000

16500

17000

YTD Sept.'17 YTD Sept. '18

Monroe County 2290 2035 2196 1929 2049 1872 1867 1497 1291 1539 1690 2003 2261 2216 2198

BEHINDTHE NUMBERSGary Keith


SAVE THE DATEMarch 19,2019

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Tim Green faces ALS disease with courage and gratitude

Here are year-end planning ideasfor savvy business owners

I was blown away the first time I in-terviewed Tim Green in the summer of 1982. I was covering Syracuse

University football at the time, and Green had just arrived on campus from nearby Liverpool as the “savior” recruit who was going to help Coach Dick MacPherson resurrect the mori-bund Orange football program.

I remember Green talking that day about how much he loved the chal-lenge of beating blockers, sacking quarterbacks and helping Syracuse “rise like the mythical bird Phoenix from the ashes.” But I also remember him speaking just as passionately about being a voracious reader since a young age, and how he was in the process of devouring works from Hemingway, Browning, Shakespeare and Chaucer. The then-18-year-old was engaging and inquisitive, at one point even ask-ing me about what it was like to write for newspapers and magazines. I walked away, as the Brits like to say, gobsmacked. This clearly was a foot-ball player who went much deeper than third-and-long. You didn’t have to be a Rhodes Scholar to know Tim Green was going places.

And so he would. Many places, in fact, while wearing enough hats to fill a haberdasher’s warehouse. For starters, Green would fulfill the football savior role at SU, twice earning All-American honors as a pass-rusher and cementing the foundation that saw the Orangemen play 13 bowl games in 17 years. He al-so would excel in the classroom, grad-uating summa cum laude with a degree in English literature, and narrowly missing out on a post-graduate scholar-ship to Oxford. A true scholar-athlete was he.

From there, Renaissance Tim would go on to have a successful eight-year National Football League career with the Atlanta Falcons; author nearly 40 books, including several New York Times’ best-sellers; earn a law degree with honors from Syracuse and be-come a practicing attorney; deliver critically acclaimed analysis on Fox Sports football telecasts; contribute nu-merous stories and commentaries to National Public Radio and ABC News; and start a “Reading Is Weightlifting for the Brain” program that’s encour-aged tens of thousands of elementary and middle-school students to put down their electronics and pick up books.

“One is fortunate to be blessed with either brains or brawn,’’ famed broad-caster Bob Costas once told me. “Tim Green has been blessed with both.”

Two Sundays ago, I would be blown away by another Tim Green interview, this time in a painful, haunting way. There, on CBS’s “60 Minutes,” I watched in shock with millions of oth-ers as he told us in a raspy, barely au-dible voice that he had been diagnosed with ALS (amyotrophic lateral sclero-sis), a debilitating, fatal neurological disorder also known as Lou Gehrig’s disease. There is no cure. Most patients diagnosed with it, die within two to five years.

At one point during the gut-wrench-ing interview with Steve Kroft, Green began to cry, but said they were tears of joy.

“Some people would say, you know, ‘Tim, God bless you,’’’Green told Kroft. “And I’d say, ‘He already has.’’’

Green’s courageous expression of gratitude harkened memories of the “luckiest man on the face of the earth” speech Gehrig delivered at Yankee Sta-dium in 1939. The famed baseball slugger also faced ALS, the disease that has long borne his name. “I don’t know of anyone more fortunate and blessed than me—even with this,’’ Green said, echoing Gehrig’s com-ments that despite being given a bad break, he had an awful lot to live for.

Gehrig didn’t expect or want sympa-thy, and neither does Green.

What he would like is greater fund-ing to research a cure for this hideous disease. That is why he decided to go public with his diagnosis, and why he established #TackleALS, which al-ready has raised more than a million dollars and has seen NFL players such as Tom Brady, Brett Favre, Von Miller, Matt Ryan and Deion Sanders appear in a video launching awareness for the campaign. Donations have come from a wide of array of people Green has impacted through the years, including scores of former high school, college and NFL teammates and opponents, and a group of teachers holding up copies of some of Green’s children’s books.

Interestingly, he wrote about the in-herent risks of playing football in his 1996 memoir, “The Dark Side of the Game: My Life in the NFL.” In an in-terview Kroft conducted with Green two decades ago—which was replayed during this latest 60 Minutes feature—the former NFL defensive lineman talked about how he believed “guys would be willing to take 10 to 20 years off the end of their lives in order to get out there on a Sunday and play. I don’t think that consideration of your physi-cal well-being in the future is in the forefront of any NFL player’s mind.”

In the recent television interview, Green said he lost track of the number of concussions he suffered after incur-ring No. 10. His wife, Illysa, remem-bers him having to slather Vaseline on his swollen head in order to slide his helmet on. Though medical experts are still trying to determine possible links between head trauma and ALS, Green has no doubts his current condition was caused by all those years of “throwing myself head first into a con-crete wall” during practices and games. The 54-year-old also believes he would not be facing what he is had he played under current-day rules, which have made the game safer by prohibiting leading-with-the-head hits and severe-ly restricting contact during practices.

Remarkably, despite the damage he suffered, he said has no regrets, and

One year ago, the Tax Cuts and Jobs Act (TCJA) was signed into law. Its cen-terpiece was a permanent reduction of

the corporate tax rate to a flat 21 percent. It also permanently repealed the corporate alternative minimum tax (AMT). As we move toward 2019, here are several wealth planning ideas that business owners should consider that can have a real benefit.

Review retirement plan optionsQualified retirement plans can be a pow-

erful way to defer business income and lower current tax liabilities. Individuals who already have these plans should use the end of the year as an opportunity to ful-ly fund their contributions. Business own-ers who do not should consider imple-menting a plan after a review of the poten-tial benefits and tax savings. Along with defined contribution plans, small business owners might consider defined benefit plans, cash balance plans or combinations of the two.

Deductible contributions to these plans might dwarf the limits of IRAs, 401(k)s or other defined contribution plans. Business owners can also use nonqualified deferred compensation plans to attract and retain talent. While there is no current deduction when the plan is funded, tax can be de-ferred on the growth of the assets that fund the plan by using cash-value life insur-ance.

The business expensing electionSmall businesses may elect under IRC

Section 179 to expense the cost of quali-fied property, rather than recover such costs through depreciation deductions. The TCJA increased the maximum amount that can be expensed from $520,000 to $1,000,000, and the threshold at which the maximum deduction begins to phase out from $2,070,000 to $2,500,000. Both the $1,000,000 and $2,500,000 amounts will be increased in the coming years to reflect inflation.

The new law also expanded the range of property eligible for expensing. Beware that some states may not allow full ex-pensing for state income tax purposes.

‘Bonus’ depreciationFor qualified property that was both ac-

quired and placed in service after Sept. 27, 2017, 100 percent of the adjusted basis of the property can be deducted in the year the property is first placed in service. The first-year 100 percent bonus depreciation per-centage amount is reduced by 20 percent each year starting in 2023 (i.e., the first-year bonus percentage amount will be 80 per-cent in 2023, 60 percent in 2024, 40 percent in 2025 and 20 percent in 2026) until bonus depreciation is eliminated altogether begin-ning in 2027. The purchase of used property now qualifies for bonus depreciation.

Section 199A deductionFor tax years 2018 through 2025, a new

deduction is available equal to 20 percent of qualified business income from partner-ships, S corporations and sole proprietor-ships. The IRS recently issued guidance on some previously proposed strategies thought to be able to maximize the use of the deduction.

Proceed with caution regarding setting up trusts for children or others. Specifically, look at ones that are separately taxed to own interests in businesses that qualify for the deduction where parents would otherwise

not qualify because of their income levels or other factors. Such trusts may not be re-spected for purposes of the Section 199A deduction.

One strategy that remains is that if you are in a nonspecified service trade or busi-ness, but you exceed the income limitations and thus are subject to the additional W-2 wage and capital (qualified property) limi-tation, you should consider making addi-tional qualified capital purchases or increas-ing wages to increase your available QBI deduction.

Business deductions Small business owners especially

should ensure they have adequate sub-stantiation for expenses such as travel miles, business meals, etc. These include daily logs, actual receipts and other sub-stantiation records. Business meals con-tinue to be 50 percent deductible.

Because of the TCJA, entertainment expenses, even if associated with the ac-tive conduct of a trade or business, are no longer deductible.

Family members can split the billFamily business owners, in particular,

can take advantage of ways to shift in-come to lower overall taxes. Paying rea-sonable salaries to family members for providing bona-fide services reduces the amount of business income. A child’s earned income could be taxed at the low-bracket rate of 10 percent (on tax-able income of up to $9,525 for 2018). The salary would also be earned income, thus allowing children to establish and contribute to a Roth IRA or retirement plan.

Closely held business owners who wish to shift some ownership, but not manage-ment or control, can divide the ownership into voting and nonvoting interests and on-ly gift the nonvoting interests.

Cash method of accountingThe TCJA expanded the ability to use

the cash method of accounting. Any entity with three-year average annual gross re-ceipts of $25 million or less can use the cash method regardless of whether the purchase, production or sale of merchan-dise (inventory) is an income-producing factor. The cash method of accounting may be more attractive to businesses due to its simplicity and flexibility in manag-ing the amount of taxable income reported in a tax year. Identify actionable opportu-nities for filing accounting method chang-es with the IRS.

Increased estate tax exemptionLastly, with the increased federal estate

tax exemption to $11,180,000 for individu-als or $22,360,000 for married couples, take advantage of passing the business without incurring estate or gift tax.

James Barger is president of Key-Bank’s Rochester Market. He may be reached by phone at 585-238-4121 or email at [email protected].

ON SPORTSScott Pitoniak

CORPORATEFINANCEJames Barger



Opportunity Zones poised to benefit Rochester area

Creating a culture of ‘making it happen’ for your clients

By JOSH GEWOLB and LAURA SMITH

Taxpayers who invest capital gains in Rochester real estate and busi-nesses may be eligible for signifi-

cant tax benefits under a new federal program.

Opportunity Zones are low-income cen-sus tracts designated by the governor of each state to incentivize investment and encourage community development.

Created by the 2017 Tax Cuts and Jobs Act, there are now over 8,700 Opportunity Zones spanning all fifty states. Over 500 opportunity Zones are located in New York State, 20 of which are in Monroe County. Areas such as downtown Roches-ter and the city’s southwest quadrant have been designated as Opportunity Zones.

Investing in Opportunity Zones can sig-nificantly defer, reduce or even eliminate federal capital gains tax liability for all types of investments.

Investing capital gains in a “Qualified Opportunity Fund” defers capital gains tax for the life of the investment. Keeping cap-ital gains invested for at least five or seven years eliminates 10 percent or 15 percent, respectively, of capital gains tax.

If an investor keeps his or her invest-ment in the Fund for at least 10 years, the investor will pay no federal capital gains tax when he or she sells the investment.

Rochester is a prime example of how this federal program can incentivize in-vestment in local communities.

For example, imagine a real estate in-vestment firm just sold a large develop-ment for a profit. The corporation uses the profit to purchase real estate in the Susan B. Anthony neighborhood. The corpora-tion rehabilitates a vacant building on the property and converts it into a new hous-ing project, more than doubling the value of the building.

By 2030, the neighborhood is a stronger real estate market due to the influx of in-vestment and the corporation is ready to sell. Assuming that the technical require-ments are met, the investors would pay no federal capital gains tax when it sells the property because the corporation owned the asset for over 10 years.

In this example, the investor benefits twice. First, the extra capital resulting from not having to pay tax on the original sale closes a funding gap that might otherwise have made the housing project unfeasible. Second, on the eventual sale of the second property, the after-tax returns are increased by the fact that no tax is paid.

For our second scenario, let’s say a start-up business from one of Rochester’s two downtown incubator spaces wants to open its first office. The company leases office space in Center City and substantially all of the company’s tangible property is lo-cated there.

Meanwhile, a partnership sells a large percentage of its assets and is about to real-ize a capital gain. It uses the gain to pur-chase the startup company’s original issue stock. Assuming the applicable technical rules are met, deferral is available.

Five years later, the startup is a huge success because of the initial investment and the partnership is ready to sell. The tax that was otherwise due on the capital gains five years ago was deferred during the life of the investment, and now 10 percent of the capital gains tax is eliminated when the partnership sells the start-up’s stock.

On Oct. 19, the Treasury Department re-leased long-awaited proposed regulations laying out the contours of the opportunity zones program.

These regulations proposals are widely viewed as taxpayer friendly, and as en-hancing the attractiveness of the program.

The regulations contemplate two differ-ent investment structures. First, if a fund operates a business directly, 90 percent of its assets must be tangible property located in an Opportunity Zone. Second, if a fund invests in a “qualified opportunity zone business” through original issue stock or a partnership interest, at least 70 percent of the qualified opportunity zone business’ tangible property must be located in an Opportunity Zone.

The regulations provide favorable guid-ance with respect to real estate invest-ments. The statute provides that funds used in real estate must “substantially im-prove” the real property by at least dou-bling its value through new construction or significant rehabilitation. The regulations clarify that a fund only needs to substan-tially improve the value of buildings and not land value.

The regulations also state that taxpayers must invest in a Fund no more than 180 days from when the gain would be recog-nized for federal income tax purposes. De-pending on the type of asset the fund is purchasing, this could leave little time to find a qualified opportunity zone business, negotiate a purchase contract, and com-plete due diligence. Given this limited window, in our view there is a need for in-termediaries who can prepackage opportu-nities that can be utilized by investors when capital is available.

Finally, taxpayers must invest in a Fund prior to June 2027 to take full advantage of the ten-year benefits and eliminate capital gains tax liability.

What is particularly interesting for our community is that Opportunity Zones are geographical restraints on where the mon-ey can be invested, but there are no geo-graphical constraints related to the location of investors. That means qualified invest-ments in Monroe County’s Opportunity Zones can attract investors from across the country in addition to local stakeholders.

There have been many federal incen-tive programs targeting low-income communities, but few with this level of breadth and power. As all of downtown Rochester has been designated an oppor-tunity zone, there is great potential for the revitalization of the heart of our community. We hope that this invest-ment incentive will play a role in fur-thering the growth and redevelopment of downtown Rochester and our city more broadly.

Josh Gewolb is a tax partner at Har-ter, Secrest & Emery LLP. Laura Smith is an environmental and land use associ-ate with the firm.

While I would love to give young entrepreneurs a single, fail-proof secret to business suc-

cess, I can’t do that. But what I can do is tell them this: To succeed in any venture, you have to have an in-credible belief in yourself and those around you. Kind of like chutzpah.

Here’s how Mike Schwabl, our pres-ident, describes it:

“When I first met Lauren Dixon 31 years ago, it was in response to an ad she put out for someone to produce weekly half-hour TV programs. Though I was basically an unemployed photojournalist from Buffalo, when she asked, ‘Can you do it?’ I answered in a heartbeat: ‘Of course I can,’ though I’d never produced a single video in my life.

But there the Dixon Schwabl MO was born. An attitude that anything is possible and that we will do anything it takes to make it happen for our cli-ents.”

While Mike makes it sound natural and easy, it isn’t always easy to believe in yourself and stay confident 24/7. For example, my confidence—and my leadership skill—was tested in a life-changing way when the roof of our building collapsed during a monumen-tal snowstorm in 2001.

As a result of that fast and freak ac-cident, we lost everything. What heavy materials, snow and ice didn’t smash, water from the sprinkler system ru-ined—including our computers, net-work and electronic records, and our agency’s entire body of printed work samples and portfolio pieces. Talk about crisis.

It was devastating. Soul-crushing, really. It took every ounce of grit to stay positive, clear-headed and strong, and to lead our team through the next four months of round-the-clock resto-ration and rebuilding of not only our space and our records, but also our en-

tire company from the ground up.But we did it. We made it happen.

Even while sitting cross-legged on the floor in winter coats and hats, amidst boxes and wet furniture, managing projects and keeping the work on track and moving for our clients.

At that time, we started repeating Mike’s mantra, our agency motto, as both a chant to keep us motivated and as a celebration of each step forward in the restoration process. We make it happen.

To me, that phrase defines the un-stoppable, unflappable, put-your-head-down and grit-your-teeth and never-ever-give-up can-do spirit of a suc-cessful business. And so while there is no recipe for success in business, there are ingredients: trial, error and trust. In other words, the ingredients of “We make it happen.”

You have to invest in trying and learning new things to stay relevant. You have to be willing to fail, no mat-ter how painful. And you have to trust the people around you to give it their all and make it happen.

Thirty-one years later, that confident attitude is still at the heart and soul of all we do. It’s a recipe that’s worked pretty well for Dixon Schwabl, and it’s one I’m happy to share so we can help make it happen for you, too.

Lauren Dixon is CEO of Dixon Schwabl Inc., a marketing communi-cations firm, which has been honored as a best place to work.

TAXING MATTERSJosh Gewolb

GREATWORKPLACESLauren Dixon

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Options for care are many

List of Assisted Living Communities

Facilities stress quality of life

Independent Living

Communities

2018

AND

SERVICES DIRECTORY

ProfileLori VanAuken a

servant to those in need

at Catholic Charities

Community Services

Page 4

Senior Living

Update on local

trends and a

directory of

Rochester-area

services.

Special Section

inside

Special

ReportFederal tax law spells

major changes for

businesses.

Page 13

Maker Faire reveals

hidden passions

By GINO FANELLI

What do cardboard, soldering irons

and a giant metallic fire-breathing

dragon appropriately named Heavy

Meta have in common? Not much re-

ally, but they all find themselves right

at home at the Rochester Maker Faire.

Going into its fifth year, the Maker

Faire is part carnival, part science fair

and a celebration of all things DIY to

be hosted at the Floreano Rochester

Riverside Convention Center on Nov.

16-17. The Maker Faire revolves around

makers, people using outside-the-

box ideas and concepts to build a

litany of different things, from circuit

boards and electronics to furniture

and sculptures, all with an emphasis

on education. Maker Faire itself is a

global organization, started in 2006

by Make: Magazine, with events

074

470

7733

0652

>

WEE

KLY

$2.0

0

By BENNETT LOUDON

As he marks the 50th anniversary

of the founding of Faraci Lange At-

torneys, co-founder Angelo Faraci

explained that his focus on personal

injury cases was born out of necessity,

rather than any carefully planned ca-

reer decision.

Since graduating from Albany Law

School in 1956, Faraci has never had a

boss. Early on, friends in the local legal

community let him use space in their

offices and passed on cases they didn’t

want.“I started, in effect, my own shop, and I

got work from the lawyers that they didn’t

want to do in the firm,” Faraci explained.

But he wasn’t very good at the busi-

ness end of things, so when he handled

wills and real estate, for example, Faraci

found it difficult to ask people for money,

he said.“I wasn’t making any money except

when they handed me a case that they

didn’t want to handle, or try, a personal

injury case,” he said.

He noticed that his personal injury

clients were especially happy at the end

of their case when they got two thirds of

the settlement, or jury award, and he got

a third.“Nobody argued about getting a fee,”

he said.After a few cases, he was hooked on

personal injury work.

Most of his cases are related to medical

issues.“I found that fascinating — the process

of analysis, getting information, analyz-

ing it, and then putting it together in story

form so that you can sell it, whether it be

to an adjuster, or a jury,” Faraci said.

Faraci started the firm in 1968 with Jo-

seph S. Guadagnino, who retired in 2009.

Guadagnino died on Nov. 28, 2016, at

age 91.Paul Lange joined the firm in 1975 af-

Faraci Lange celebrates 50 years

Efforts continue

to curb distracted

driving accidents

By VELVET SPICER

In June 2007, five recent Fairport

High School graduates were killed

when the SUV they were in crashed

into a tractor trailer. The driver’s cell-

phone had been in use moments before

the accident.

In April 2010, a SUNY Geneseo stu-

dent was killed when she went off the

road, flipping her car. Authorities be-

lieve she was texting at the time.

And earlier this year a truck driver

was sentenced to 1 ½ to 4 ½ years in

prison for the June 2017 crash that

killed a University at Buffalo profes-

sor from Rochester. The 28-year-old

truck driver was driving 70 mph and

using a cellphone when he rear ended

the other vehicle.

Despite laws regulating the use of

hand-held electronic devices while

driving, cellphone use continues to

rank among the top driving distrac-

tions. One way in which to decrease

the use of electronics while driving is

to put forth a national effort, said Gene

Beresin, a consultant for Liberty Mu-

RBJ.netInsight. News. Analysis.

Subscribe to Rochester’s top business news source

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VOLUME 34, NUMBER 32

WWW.RBJ.NET

NOVEMBER 9, 2018

Continued on page 2



Continued on page 7

Abdul-Jabbar,

at UR, calls for

national healing


His calm demeanor belies a passion-

ate heart.

Kareem Abdul-Jabbar delivered a

message of reconciliation and accep-

tance at an event at the University of

Rochester Monday night that attracted

close to 2,000 people.

The 20-year, record-smashing, cen-

ter forward of the National Basketball

Association, who went on to become

an author and activist and win the

Presidential Medal of Freedom, was

the inaugural speaker in UR’s series,

“Dean’s Initiative: Difficult Conversa-

tions as a Catalyst for Change.”

The event was structured in a ques-

tion-and-answer format with UR Dean

of Faculty Donald Hall asking a series

Monro rolls out new image, focus on guests

Brett Ponton, CEO of Monro Inc. for about a year, is rebranding the company’s service centers.

By VELVET SPICER

There are no cash registers at 200 Holleder Parkway.

There are also no technicians, no signature blue and

gold storefront and you can’t drive your car there for

an oil change.

So Monro Inc. has stopped calling its Holleder Park-

way location its headquarters and has begun calling it

its “store support center.”

“Consumers aren’t buying at the headquarters;

Continued on page 8



Monroe Community College’s embattled president, Anne M. Kress, Tuesday characterized a faculty vote of no confidence in her as a union bargaining ploy, but said she will reach out to faculty representatives to try to seek a resolution.

Kress held a press conference Tuesday morning reacting to the no-confidence vote’s results that showed an overwhelming – 88 percent of those who voted – lack of confidence in her administration. A number of MCC’s board of trustees attended the conference, but declined to comment until the board’s Dec. 2 meeting. The board earlier issued a statement of support for Kress.

“We believe the way to negotiate is at the table,” Kress said. “Making this about me won’t change any of that.”

Kress particularly struck out at faculty charges of high turnover, noting the college has a retention rate of 95 percent overall and 97 per-cent among faculty.

“This is a very discouraging turn of events, but I would be dishonest

if I said it was surprising,” Kress said, noting the Faculty Association has been talking about a no-confi-

dence vote ever since the union declared an im-passe in July over contract ne-gotiations.

A 68-point list of complaints the faculty issued last week included dropping enroll-

ment and three labor contracts that have stalled under Kress’ administration.

Kress said enrollment is down ev-erywhere at state schools, primarily due to the economy being on the rise again.

“Our enrollment highs were dur-ing the Great Recession,” she said. More people are back to work rather than seeking new skills at commu-nity colleges, she said.

Kress also characterized labor contract struggles as a product of re-duced state support for higher edu-cation.

Regarding the faculty union’s and senate’s requests that the trust-ees conduct a transparent review of Kress and her administrators, Kress said, “No one’s evaluation is trans-parent,” because they are personnel matters. She noted, however, that the board has created a task force that is looking at the way all evaluations are conducted.


How bright is outlook after L3 Technologies merger with Harris ?

On Oct. 14, L3 Technologies and Harris Corp. announced their merg-er—one of the biggest yet among de-fense contractors. Since the announce-ment was made, there have been many speculations about what this merger would mean for the future of Roches-ter’s economy, and the prospects of the industry, altogether. Top management at Harris and L3 have made several comments to give assurance that there will be no job cutbacks going forward.

Pouya: This merger represents in-teresting prospects for the Rochester region. With two of the nation’s big-gest defense contractors joining forc-es, there is no reason why this should not lead to a more competitive entity which can not only lead to higher growth for L3 Harris, but also lead to a greater number of employment oppor-tunities for the Rochester region.

David: I am concerned. There is never such a thing as a merger of equals … one of the parties is always “more equal” and the balance of pow-er, employment, etc. tips in their favor. In this case I feel Harris is not on the positive side of the equation and will either in dribs and drabs lose functions and mandates to the HQ or it will hap-pen quickly—either way I do not think that core long-term functions will con-tinue to exist here in Rochester. Can there be an HQ and a HQ2 similar to Amazon’s vision? If so, the delinea-tion of power between the two will be interesting.

Pouya: I don’t disagree with the fact that a “merger of equals” is an abstract concept that has little place in reality. I am actually very pleased to see that both parties in this merger have taken steps to address that. The current ar-rangement gives assurance that Harris’ current leadership will not be left out of the equation. As a matter of fact, the Harris leadership will be leading the new enterprise for a few years subse-quent to the merger materializing. What I really think is the positive side of this story is the fact that the L3 Harris merg-er is going to give unprecedented domi-nance in the military telecommunica-tions industry to a company that has very high market power. These two companies, together, pulled in around $8.3 billion in defense contracts last year. With market power comes negoti-ation power and profits. This means that there are many opportunities for growth and job creation through in-creased revenues and decreased costs.

David: I agree that size theoretically leads to higher margins, greater nego-tiating power and profitability for the merged organization. However, we are contemplating where the centers of gravity will be for the new organiza-tion. Can there be two centers of grav-ity or will there be the possibly slow transition to a major and a minor cen-ter of gravity? I think while the good fight should be fought to keep as much of Harris as possible in Rochester, they should concentrate on their unique contribution that cannot be replicated in other “centers of gravity,” aka HQ. In fact, I would view Harris as part of a new larger ecosystem and they should search for their own competi-tive advantage in the new organization

and exploit that as much as possible to ensure their “center of gravity” thrives and expands.

Pouya: You certainly have a point there. Having to deal with two centers of gravity can be challenging. But my question is, does having two centers of gravity have to play any part in this equation? What I see is this merger acts more like an alliance. The defense industry is quite unique in that it limits the number of actual competitors that evolve as contractors. This is under-standable due to security concerns. This means that both L3 and Harris can continue to operate on a network model where each side will operate its own processes exactly as it was, but represent one block when it comes to negotiating contracts. The key will be to make sure that the management is consciously keeping Harris and L3 separated.

David: You bring up a good point as it relates to the combined entity operat-ing as a “block.” For very good reasons the Department of Justice looks unfa-vorably on anti-trust activities that a “block” infers. Of course the DOJ’s re-cord has not been stellar in the last six months, but I think it is a major concern as to whether this merger is a bridge too far vis-a-vis too much market power. I think the DOJ will tolerate an oligopoly in the defense industry—a de facto mo-nopoly will not be tolerated due to a lessening of competition and innova-tion (arguably) and the aforementioned increased pricing power which means the U.S. Defense Department pays more. So the anti-trust implications al-so should be considered.

Pouya: I do agree with you with the position that the DOJ will take, but to an extent. In recent months, the govern-ment has not intervened to overrule ac-quisitions by Lockheed Martin and Unit-ed Technologies. I’m not so certain about the prospects of L3 Harris. With this merger, the oligopoly will turn into a near-monopoly. If L3 Harris can survive that—which I think they could—they will be in an excellent position. What is interesting about defense contractors is that their overhead costs of innovation are substantially less than that of any other industry; the locus of innovation is in transition between the government and the company. That itself is a reduc-ing factor in overhead costs. Then, we are talking about an industry where the government compensates for external contract restrictions through granting competitive exclusivity. While I do un-derstand that there are challenges to this partnership, I am optimistic that the management of both companies have

BUSINESS BANTERDavid Kunsch and Pouya Seifzadeh


MCC’s Kress responds to no-confidence vote

Kress

statement. “The Harris team success-fully completed and is delivering the world’s largest active secondary mir-ror system. We look forward to its de-livery to the summit site in Chile and future telescope integration.”

Harris employs some 3,500 people in Rochester between its Space and Intelligence Systems and Communi-cation Systems divisions.

“This federal National Science Foundation investment is leverag-ing Harris’ skilled Rochester work-force to bring the farthest reaches of the universe into focus,” U.S. Sen. Charles Schumer said. “A leader in Rochester’s world-class optics and photonics industry, Harris employees are making history by manufacturing the world’s largest terrestrial tele-scope active secondary mirror sys-tem in Rochester, N.Y. Their cutting-edge achievement will push scientific frontiers, enable new discoveries and chart the universe like never before.”

Schumer, a vocal proponent of both Harris’ local operations and the continued exploration of the cos-mos, was in town last week to drum up support for federal funding for the National Aeronautics and Space Administration’s next space tele-scope, Wide Field Infrared Survey Telescope (WFIRST), which is being constructed largely by Harris’ Roch-

ester workforce.WFIRST will have the same image

precision as the Hubble telescope, but will be able to see an area of space 100 times larger than Hubble can see.

Earlier this year, the Office of Man-agement and Budget proposed cutting all fiscal year 2019 funding for the WFIRST project, however Schumer pushed his colleagues in the Senate to include $352 million in NASA fund-ing for the telescope in their version of the Commerce Justice and Science Appropriations bill.

[email protected] / 585-653-4021

HARRISContinued from page 7 “This federal

National Science Foundation

investment is leveraging Harris’ skilled Rochester

workforce to bring the farthest reaches of the universe into

focus.” U.S. Sen. Charles Schumer

“We believe the way to negotiate is

at the table.”Anne M. Kress


the new educational spaces will run concurrent with the museum’s $60 million, 100,000-square-foot expan-sion, slated for completion in 2020.

“The Strong plays a critical role in our community,” said Howard Konar, a trustee of the William and Sheila Konar Foundation. “Through its Woodbury School, the museum impacts the lives of many students in our region and shares the educational power of play.”

The grant will be used to construct state-of-the-art classrooms and a gar-den area for the preschool. The rooms will feature large windows for natural light; open areas to allow class discus-sions and active play; an art studio so kids can express their creativity with paints and sculpture materials; one-way observation windows for parents and teachers; new security features; and a link to a redesigned Woodbury garden, where students will grow herbs and vegetables and learn about healthy eating.

“Woodbury School provides play-based learning in action and show-cases the power of play as a learn-ing tool,” said Debbie McCoy, the Strong’s assistant vice president for education. “Each year thousands of educators and college and university students take part in educational pro-grams that use Woodbury School ob-servation and documentation to learn about various aspects of playful learn-ing. These inspire their own practices and spread these ideas to other class-rooms around the region.”

The Woodbury School—named for

museum founder Margaret Wood-bury—opened in 2005. The school serves children aged three to five and is inspired by the Reggio Emilia ap-proach, which encourages play and student-driven learning, McCoy said.

“The approach also sees the learn-ing environment as crucial to the educational experience, almost an-other teacher of sorts, and these new spaces will help facilitate the explo-ration of the children’s interest,” she explained.

Children at the Woodbury Pre-school are guided by their own inter-ests, enabling them to learn and de-velop in playful activities set among engaging, dynamic, hands-on exhib-its at the Strong. Through play, chil-dren have experiences that introduce them to the larger world, help them develop trust with peers and adults outside their family and build their confidence and self-reliance.

Teachers and students work togeth-er to plan the curriculum and create projects, under the Reggio Emilia ap-proach, and at the Woodbury School, small and large group activities in-volve art, music, cooperative games, movement, pre-reading, math and other age-appropriate experiences.

The school features small classes, which allow children to build con-fidence as they explore the world. Specially designed classrooms serve as home base for the kids and are set apart from the museum galleries. But the children also experience the col-

orful, imaginative museum spaces including Reading Adventureland, Dancing Wings Butterfly Garden and other interactive exhibits. Parents also are encouraged to visit class-rooms and be involved in class proj-ects.

The school is private, but offers scholarships that cover half or all of the tuition for some students each year based on family income, McCoy said.

“We’re proud to help the Strong expand its learning space and extend its reach so that more children in our community, including those with fi-nancial need, can benefit from attend-ing Woodbury School,” Konar said.

McCoy said the Strong opened the school because it wanted to provide area students a school that demon-strates the many ways that play can support learning and development, “putting our museum mission into ac-tion.”

The William & Sheila Konar Foun-dation is a private grant-making en-tity founded in 1982. The foundation supports programs, institutions and organizations in Rochester and else-where, guided by the philanthropic goals of its founders.

“The generosity of the William and Sheila Konar Foundation will have a lasting impact on students, parents, teachers and other educators in the Rochester community,” McCoy said.

[email protected] / 585-653-4021 / @Velvet_Spicer

Contact your RBJ account manager at 585.232.6920 or email Suzanne Fischer-Huettner at [email protected]

GIVING BACK TO OUR COMMUNITYPub Date: 12/21 Space Deadline: 12/13

HEALTH CARE: WELLNESSPub Date: 1/4 Space Deadline: 12/26

REAL ESTATE & CONSTRUCTIONPub Date: 12/14 Space Deadline: 12/6

TRUSTS & ESTATESPub Date: 12/28 Space Deadline: 12/18

HIGHER EDUCATION/WORKFORCE DEVELOPMENT

Pub Date: 1/11 Space Deadline: 1/3

WOODBURYContinued from page 1

Photos courtesy Strong Museum of Play The Woodbury School—named for museum founder Margaret Woodbury— serves children aged three to five through activities that educate the preschoolers as they play.

“Woodbury School provides play-

based learning in action and

showcases the power of play as a

learning tool.” Debbie McCoy, Strong’s

assistant vice president for education


To recognize excellence, promote innovation and honor the efforts of organizations and individuals making a significant impact on the quality of health care in our area, the Rochester Business Journal created the Health Care Achievement Awards. Honorees,

selected in ten categories, will be profiled in a special supplement published in the spring and will be recognized at a luncheon awards ceremony on March 22.

NOMINATE TODAY!

• Health Care Innovation • Nurse • Health Care Staff • Physician • Management • Senior Care • Medical Professional • Special Needs• Mental Health • Volunteer

NOMINATION CATEGORIES:

Presenting Sponsor:

For category descriptions and to nominate, visit: rbj.net/events/health-care-achievement

Nomination Deadline is January 11, 2019!

For information surrounding sponsorship opportunities, contact your account manager or [email protected].

SUPPORTING DOCUMENTATION IS REQUIRED and should be emailed to [email protected]. Appropriate materials should include a clear, concise description of the actions or programs initiated by the nominee, including

measurable results, testimonials, resumes and biographies.

NOVEMBER 30, 2018


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Rochester Business Journaland The Daily Record NYare owned by BridgeTower Media

By LARA PEREZ-FELKNER

The gender gap in math and science isn’t going away. Women remain less likely to enroll in math-heavy fields of study and pursue math-heavy careers. This pattern persists despite major studies finding no mean-ingful differences in mathematics performance among girls and boys.

Among U.S. students who score the same on math achievement tests, girls are less confident in their math ability than boys are. That confidence predicts who goes on to ma-jor in math-heavy fields like engineering and computer science. The gender gap varies across STEM fields – science, technology, engineering and math. Women remain un-derrepresented in high-earning and high-de-mand fields that require the most math skills, such as engineering and physics. My team’s recent study finds women are 12 percent less likely to earn math-heavy STEM degrees than men.

My colleagues and I have studied gender gaps in STEM for several years, examining U.S. data on teenagers as they move from high school to and through college. Across our studies, we find a consis-tent pattern: Girls with strong mathematics ability in high school do not necessarily leave the sciences en-tirely, but they major in math-heavy fields at signifi-cantly lower rates than their otherwise identical male peers.

Here’s the good news: These patterns can change. In one study, we found that 12th-grade girls with the high-est levels of confidence in their mathematics ability with challenging material are three times more likely to major in math-heavy STEM fields than girls with the lowest levels of confidence.

Ability beliefs, girls and STEMOur findings build not only on our own prior work,

but also on decades of research finding girls underrate their abilities on tasks and careers that are culturally considered male.

Contemporary data on U.S. students who were 10th-graders in 2002 and were followed through 2012 show that girls do better in school than boys do and are more likely to graduate from college. Girls are increasingly prepared for college-level math, thanks to the fact that they take more STEM courses in high school, even in computer science.

In one of our case studies on computer science un-dergraduates at two research universities, we found that

women were more likely to take further computer sci-ence courses if they perceived that they had high skills and felt challenged. These findings complement those of our national study, which showed that women with positive math ability beliefs were more likely to choose math-heavy STEM majors.

Girls are excelling at math. Still, boys think they can do better. Among those at the 90th percentile of math-

ematics ability in 12th grade, boys rate themselves higher than do their female peers.

Progress failures and promising interventions

The push toward equity has not just been slow; it at times seems to go in reverse. Emerging research suggests gender gaps in STEM seem wider in more economically developed countries and more affluent zip codes. Since the personal computing and technology boom, women have been losing representation among degree earners in computer science.

Among U.S. universities, we found the gender gap in math-heavy fields was widespread, but worse at less selective institutions. And while the ma-jority of community college students are female, after controlling for student and institutional characteristics, the gender gap in natural and engineering sciences at two-year colleges is slightly worse—12.4 percent more men—than at four-year institutions—11.7 percent more men than women.

There are signs of promise as institutions collaborate on gender equity and try other interventions, from in-troductory course redesign to curricular changes aimed at students’ beliefs in their abilities. While not directly focused on this issue, organizations may engage in con-fidence-raising to get girls and women into math-heavy fields like coding.

As someone who has studied this issue closely, I be-lieve those of us interested in gender equity should make female confidence a priority. This includes both directly building up girls’ and women’s confidence and educating influential actors in their lives. Socializing messages and support from mentors, teachers, peers and parents may help counter gendered stereotypes and create spaces for girls to build confidence in their abil-ity to succeed in math and science.

Lara Perez-Felkner is Assistant Professor of Higher Education and Sociology, Florida State University. This article is republished from The Conversation un-der a Creative Commons license.

The key to fixing the STEM gender gap: Boost women’s confidence

Kudos on giving; more needed

Rochester has always been a philanthropic com-munity, following the example George Eastman set with his gifts that shaped and sustained many orga-nizations.

That spirit of generosity was on display yet again this week for the eighth annual ROC the Day, a 24-hour online giving event run by United Way of Greater Rochester.

This year’s effort raised $697,172 through 7,462 total donations. While that is down from last year’s total of nearly $750,000, it is still enough money to make a big impact on the Rochester community and many of the organizations located here.

Rochester has a plethora of nonprofits doing im-portant work in a variety of sectors—education, health care, housing, arts and culture and more. These organizations rely on the generosity of peo-ple in the community for their existence, and their continued existence is crucial for many community members who are facing difficulties of one kind or another.

While Rochesterians should be proud of how much was raised Tuesday for ROC the Day, we should not be satisfied. Nonprofits in our commu-nity are faced with difficult decisions throughout the year on how best to use the funding they get through grants and donations.

As we continue toward the end of the year—a period when many people typically make their big-gest donations—we should be seeing where we can make an additional impact. It could be by donat-ing to one extra charity this year, or by making your usual donation to a nonprofit just a little bit bigger.

The many successful people and businesses in the Rochester community can make a real, meaningful difference in the lives of those who are struggling in our community.

It is always an exciting thing to watch the dona-tions climb and the nonprofits give thanks during ROC the Day. Now that the enthusiasm from that one-day event is behind us, we need to maintain our momentum for doing what we can to help others.

G U E S T

OPIN ION

“It was as magical and as wonderful as I dreamed it would be.’’—Tim Green, now battling ALS, commenting on his football career.

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wants his youngest of five children to continue playing football, just not on the defensive side of the ball.

“It was as magical and as wonderful as I dreamed it would be,’’ Green said of his years on the gridiron.

Even more remarkable was his com-ment to Kroft that this is the best time of his life.

“I have everything,’’ he said, referring to his close-knit family. The Greens live in the same Skaneateles Finger Lakes

neighborhood and eat dinner together five nights a week.

Green also still has his writing, which provides an escape. He’s writ-ten four of his 38 books since his diag-nosis two years ago. And he’s halfway through book No. 39. ALS has robbed him of the dexterity required to type, so he uses a special pair of sensor glasses that connects to a keyboard on his screen, enabling him to create words, letters and sentences. It’s a te-dious process, but it still allows him to do something he loves.

Green has always been one of those

rare individuals who pursues every-thing with passion. He knows no other way. So, it’s not surprising that he has decided to rage against the dying of the light, and take on the most daunt-ing opponent he’s ever faced; one that, sadly, is undefeated. He realizes the cure he seeks probably won’t be found fast enough to save him, but he fer-vently believes it will come eventual-ly.

In the meantime, he will do what he’s always done: Try to live life to the full-est.

“As always, I will spend the com-

ing days and years, counting the blessings I have instead of pining for things I don’t,’’ Green wrote on his Facebook page when he broke the news he had ALS. “Today I will take a walk. I will work and write and kiss each of my kids, as well as my beauti-ful wife. That’s a great day. As good as it gets.”

Best-selling author and nationally honored journalist Scott Pitoniak is the Rochester Business Journal sports columnist. He will be doing a book-signing from 1-3 p.m., Saturday, Dec. 1 at the Webster Barnes & Noble.

SPORTSContinued from page 25

looked into the issue of running two cen-ters of gravity before they made this de-cision.

David: I certainly expect manage-ment has thought of this but I worry that the technologies, businesses, and operations of the organizations are

sufficiently similar that the real bene-fit of the merger is one only of econo-mies of scale whereby they can wring efficiencies only from scale. Having said that, and if that is indeed true, I would suspect and expect the U.S. government procurement office to raise serious objections that they should in fact be paying less for these products and services as a natural ex-

tension of this merger and if not then they will look for others to deliver this cost advantage. In that case there will be a decrease in the sales of the combined company as they are caught between a rock and a hard place—they merged to increase economies of scale but the U.S. government expects to reap all of those benefits and if not then they will look elsewhere. All to

say there may not be much actual up-side to the merger from a financial perspective, which will do little to in-crease the long-term attractiveness of the Harris operations in Rochester.

David Kunsch is an associate pro-fessor of strategy at St. John Fisher College. Pouya Seifzadeh is an assis-tant professor of strategy at SUNY Geneseo.

BUSINESS BANTERContinued from page 27

west of the row houses. A block to the east are the recently constructed North Plymouth Terrace Townhomes that face North Plymouth Avenue. To the north, just across the off-ramp from Interstate 490, are the Buckingham Commons lofts.

“Within a three block area there are 239 market rate apartments,” John Lof-tus said.

What didn’t fit well in the revitalized neighborhood was the dilapidated struc-ture at 30 and 32 S. Washington, even though it had historical significance.

The north half of the building, No. 32, was once the home of Cuppy Smith, a friend of Susan B. Anthony who later became a leading champion of women’s rights in California.

The houses were built in or around 1840 in Greek Revival style. They were added to the National Register of His-toric Places in 1985 and are believed to be the only surviving examples of middle 1800s row houses in Rochester.

But by 2013, disrepair was maybe too nice a term for what remained. The homes had major issues. Still, the Lof-

tus brothers, who have made structural renovation an art, had a plan to trans-form the building.

“It went on sale on a Saturday, we went through it on Sunday and bought

it on Monday,” John Loftus said.The $100,000 sale was actually the

easy part. Restoration has taken time, energy and money, perhaps double or triple the original investment. They

needed to fortify the front of the build-ing and foundation, replace the roof and windows and strip out much of what was inside.

The original wood framing remains, but the brick walls have been insulated and will be further enhanced depend-ing on the style preferred by the tenant.

“There will be some good opportu-nities to fit it out the way they want,” Quinn said.

Loftus also bought the adjacent lot to the north from the City of Rochester and will create a driveway, ADA-com-pliant parking and a 900-square-foot patio.

What the 56-year-old Loftus broth-ers don’t do is food. That’s why they’re looking for a tenant with hopes of find-ing someone they can consider a part-ner in terms of building use.

“It kind of calls out for a tavern-style pub, a gastropub,” John Loftus said. “This could really provide something unique.

“We were the first ones to enter this neighborhood. It’s gone from where people were leaving to where they’re coming.”


BUILDINGContinued from page 1

Provided photo The row houses at 30-32 S. Washington St. in the Cascade District are for lease and may soon become an upscale tavern.

Rochester loses Air Canada serviceBy VELVET SPICER

Canada’s largest airline quietly made its last departure from Rochester Oct. 31, the same day Greater Rochester In-ternational Airport celebrated the long-awaited completion of its $79 million renovation project.

Air Canada officials told Greater Rochester International Airport interim airport director Andy Moore there were two reasons for the departure. The air-line also pulled out of Syracuse Han-cock International Airport and Harris-burg International Airport.

“One was they conducted a system-wide assessment of all of their stations and decided to make the tough deci-sions on what Air Canada as an airline

needed to do to increase revenues and reduce costs,” Moore said.

Air Canada also is looking to phase out its Beechcraft 1900 aircraft, a small, 19-seater it used for flights in and out of Rochester and Syracuse, airline of-ficials told Moore.

Air Canada historically offered two to three daily flights to Toronto from Rochester, but the airline this summer said it would offer four flights. Those flights typically are connectors for in-ternational travelers, but ran about half full, Moore said.

Rochester’s airport in 2017 had 1.2 million enplanements, or passengers departing the airport. Air Canada’s flights represented just 0.7 percent of those enplanements.

“When you look at those factors on a

business decision that the airline needed to make within their system, you could look at the size of the aircraft, the fact that they were going at about 48 percent load factors—or nine passengers per flight—and it only comprised 0.7 per-cent of our total enplanement on an an-nual basis,” Moore said, noting that he knows of no customer complaints about the lack of service. “It was not a signifi-cant impact to traffic here in Rochester.”

In July, the company announced it would hike fares to accommodate for higher fuel prices. On Oct. 31, Air Can-ada reported a drop in quarterly profit due to rising fuel costs, but CEO Calin Rovinescu said in an earnings call that “in our markets we continue to see strong demand.”

Moore said the departure of Air Can-

ada would not jeopardize Rochester’s international status with U.S. Customs and Border Protection, the country’s primary border control agency.

“We maintain our international status due to the activity that they have here at the airport with charter service, gen-eral aviation aircraft, cargo inspections and registration they offer from the fed-eral government to international travel-ers that may want to register items like jewelry, camera equipment, firearms,” Moore explained.

Six airlines serve Greater Rochester International Airport, including Allegiant Air, American Airlines, Delta, JetBlue, Southwest and United Airlines. The air-port handles roughly 115 flights per day.

[email protected] / 585-653-4021


Recognizing Rochester’s business leaders over the age of 60 for their notable success and demonstration of strong leadership, both within and outside their chosen field.

CONGRATULATIONS 2018 ICONS!

AWARDS CELEBRATION Monday, December 10, 2018

$125 per ticket plus tax ($140 after Dec. 1) Your ticket includes beer, wine, hors d’oeuvres, food stations and dessert.

Valet parking will be available. Space is limited and a limited number of table sponsorships are available.

Register today at rbj.net/events/icon-honors

Donald E. Bain St. John Fisher College

James Barr Mengel Metzger Barr LLP

Paul Burgett University of Rochester

Essie Calhoun-McDavid Eastman Kodak Co.

Carlos Carballada M&T Bank

Mark Davitt ConServe

Paul DeCarolis DeCarolis Truck Rental

Sergio Esteban LaBella Associates

David Fiedler ESL Federal Credit Union

Sheila Gaddis Barclay Damon LLP

James Hammer Hammer Packaging

Randy Henderson Henderson Ford

Susan Holliday Rochester Business Journal

Peter Jemison Ganondagan State Historic Site

R. Wayne LeChase LeChase Construction

Janet Lomax News10NBC

James McElheny Woods Oviatt Gilman LLP

Kelly Reed Huther Doyle

David Reh Gorbel, Retrotech, Raytec Group; Ravenwood Golf Club

Dennis Richardson Greater Rochester Health Foundation

E. Philip Saunders Saunders Management

Deborah Stendardi Rochester Institute of Technology

Sister Christine Wagner St. Joseph’s Neighborhood Center

Louise Woerner HCR Home Care

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5:30–6:15 p.m. - Beer, Wine, Specialty Drink and Hors D’ourves • 6:15–6:45 p.m. - Awards Celebration6:45–8:00 p.m. - Seated dinner for sponsors, buffet for all guests and continued networking and celebration

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Awards Sponsor: Table Sponsors: ConServe • DeCarolis Truck Rental Inc. • ESL Federal Credit Union • Genesee Regional Bank

Greater Rochester Health Foundation • Hammer Packaging • HCR Home Care • LaBella Associates • LeChase Construction M&T Bank • Monroe Community College • Nazareth College • Rochester Institute of Technology • Saunders Management Company

St. John Fisher College • University of Rochester • UR Medicine Thompson Health • Woods Oviatt Gilman LLP

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