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MACNY names manager of workforce operations and advancement
DeWITT — MACNY, The Manufacturers Association of Central New York, says it has promoted Amanda Rice to manager of workforce operations and advancement. She first joined MACNY in February 2022 as the association’s finance and contract administration specialist. In this role, Rice has managed MACNY’s state and federal grants in addition to sourcing and administering […]
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DeWITT — MACNY, The Manufacturers Association of Central New York, says it has promoted Amanda Rice to manager of workforce operations and advancement.
She first joined MACNY in February 2022 as the association’s finance and contract administration specialist. In this role, Rice has managed MACNY’s state and federal grants in addition to sourcing and administering various funding opportunities. She has been an “integral part of developing and implementing new processes that impact multiple departments as well as internal and external reporting activities,” MACNY said in a recent release.
In her new role, Rice will use her skills in managing essential elements of MACNY’s workforce-development initiatives to lead efforts to research, develop, and apply for new grant-funding opportunities, while also collaborating closely with the organization’s finance team to optimize how grant money is allocated and used. She will also oversee key initiatives including the development and maintenance of both data and time- tracking systems and other relevant technologies.
“Amanda has consistently demonstrated remarkable dedication to optimizing processes with a keen understanding of the intricacies involved in managing our workforce development portfolio. We are confident Amanda will continue to excel in her new role and significantly contribute to the success of our programs and the broader mission to serve the manufacturing community and the MACNY membership,” Mike Frame, MACNY executive VP, said in the release.
Prior to joining MACNY, Rice worked as an economic-development specialist at the Fulton Community Development Agency (FCDA), and also previously interned with NYSERDA’s market characterization & evaluation team. Rice holds an MPA degree, with a dual concentration in public economics & finance and environmental politics & policy from the Rockefeller College of Public Affairs & Policy at SUNY Albany. She also holds a bachelor’s degree in economics and political science from SUNY Geneseo.
Broome County hotels post solid business gains in January
BINGHAMTON — Broome County hotels registered increases in three separate key indicators of business performance in January. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 11.1 percent to 47.7 percent in the first month of 2024 versus January 2023. Revenue per available room (RevPar), an industry gauge that
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BINGHAMTON — Broome County hotels registered increases in three separate key indicators of business performance in January.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 11.1 percent to 47.7 percent in the first month of 2024 versus January 2023.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 14.1 percent to $47.42 in January compared to the year-ago month.
Average daily rate (ADR), which represents the average rental rate for a sold room, edged up 2.8 percent to $99.44 in the county this January, versus the same month a year earlier.
Chemung Financial to pay Q1 dividend of 31 cents
ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG) said its board of directors has approved a cash dividend of 31 cents per share of its common stock for the first quarter. The Elmira– based banking company will pay the dividend on April 1, to shareholders of record as of the close of business on March 18,
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ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG) said its board of directors has approved a cash dividend of 31 cents per share of its common stock for the first quarter.
The Elmira– based banking company will pay the dividend on April 1, to shareholders of record as of the close of business on March 18, according to its Feb. 21 news release.
At Chemung Financial’s current stock price, the payment yields about 2.9 percent on an annual basis.
Chemung Financial is a $2.7 billion financial-services holding company that operates 31 offices through its principal subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers. Founded in 1833, Chemung Canal Trust says it is the oldest locally owned and managed community bank in New York state.
Chemung Financial is also the parent of CFS Group, Inc., a financial-services subsidiary offering non-traditional services including mutual funds, annuities, brokerage services, tax-preparation services, and insurance.
Chemung Financial reported net income of $25 million, or $5.28 per share, in 2023, down from $28.8 million, or $6.13 per share, in 2022.
Barclay Damon adds Washington, D.C. office through combination
SYRACUSE — Barclay Damon LLP is now operating an office in Washington, D.C. after a law firm in the nation’s capital combined with the Syracuse–based firm. Shapiro, Lifschitz & Schram (SLS) joined Barclay Damon, effective Jan. 1, per the Jan. 10 announcement. The deal allows both law firms to expand their footprints and client-service offerings,
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SYRACUSE — Barclay Damon LLP is now operating an office in Washington, D.C. after a law firm in the nation’s capital combined with the Syracuse–based firm.
Shapiro, Lifschitz & Schram (SLS) joined Barclay Damon, effective Jan. 1, per the Jan. 10 announcement. The deal allows both law firms to expand their footprints and client-service offerings, Barclay Damon noted.
The leadership of both firms in December unanimously voted to approve the deal, citing a “strong belief in the benefits of the combination, which brings the best in legal service together to accelerate growth in each firm’s respective practice areas.”
At the time of the announcement on Jan. 10, Barclay Damon said the 10 lawyers, three paralegals, and four administrative staff of SLS would join the Syracuse–based firm while maintaining operations in their current 11,500-square-foot office space located in the heart of Washington, D.C.’s central business district, a few blocks from Dupont Circle and the White House.
“Our firm has been serving clients in the DC Metro Region for many years, while our long-term strategy has been to develop a fully staffed, established presence in that market. After evaluating many opportunities, SLS was the right fit in terms of top attorneys, complementary practices, and energy industry experience that overlaps with Barclay Damon’s leading practices,” Connie Cahill, Barclay Damon’s managing partner, said in a statement. “We hope to continue growing in the DC Metro Region and are always interested in meeting with talented attorneys looking to expand their breadth of services in a shared culture of collaboration, innovation, and diversity, equity, and inclusion.”
SLS will serve as Barclay Damon’s Washington, D.C. office.
“This is a beneficial move for SLS, as this combination meets the long-term strategic goals of the firm and allows our people and clients to immediately have access to a multidisciplinary approach to legal services as well as a full-service law firm,” Judah Lifschitz, principal and co-president of SLS, said in the Barclay Damon release.
Lifschitz, Steve Schram, and Christopher Mahoney will continue to lead the D.C. office.
“Landing an integrated team of attorneys with corporate, real estate, finance, commercial litigation, and large construction litigation experience with a national profile in the power and energy industry was simply a home run,” Rick Capozza, chief marketing officer and chair of Barclay Damon’s energy practice area, said in the news release. “That the SLS team is located in a strategically significant part of our platform, Washington DC, advances a key strategy of expanding our strong regulatory experience at the federal level.”
Together, the combined firm will have nearly 300 lawyers in nine offices. They include New York offices in Syracuse, Albany, Buffalo, Rochester, and New York City, as well as offices in Boston, Massachusetts; New Haven, Connecticut; Washington, D.C.; and Toronto, Ontario.
New York manufacturing index rebounds in February
Benchmark stays negative, pointing to continued contraction The Empire State Manufacturing Survey general business-conditions index jumped 41 points in February — bouncing back from nearly a four-year low the prior month — but remained in negative territory at -2.4. The
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The Empire State Manufacturing Survey general business-conditions index jumped 41 points in February — bouncing back from nearly a four-year low the prior month — but remained in negative territory at -2.4.
The general business-conditions index is the monthly gauge of New York state’s manufacturing sector.
Based on firms responding to the survey, the February reading indicates business activity “edged slightly lower” in the state, the New York Fed stipulated in its Feb. 15 report.
A negative index number indicates a decline in the state’s manufacturing sector, while a positive index reading shows expansion or growth in manufacturing activity.
The Empire State Survey found new orders declined modestly, while shipments edged higher, the New York Fed said. It also found the six-month outlook improved, though optimism “remained subdued.”
Survey details
The new-orders index soared 43 points to -6.3 in February. That still pointed to an ongoing decline in orders, though at a slower pace than the previous month. The shipments index increased 34 points to 2.8, indicating a small increase in shipments, the New York Fed said.
The unfilled-orders index came in at -9.6, a sign that such orders continued to fall. The inventories index was little changed at -9.6, suggesting that inventories fell modestly, and the delivery-times index remained negative at -3.2, indicating shorter delivery times.
The index for number of employees climbed to a level of near zero, suggesting employment levels were “unchanged,” while the average-workweek index came in at -4.7, pointing to a small decline in hours worked, the New York Fed reported.
The prices-paid index moved higher for a second straight month, rising 10 points to 33.0, and the prices-received index climbed 8 points to 17.0, pointing to a pickup in both input and selling-price increases.
New York manufacturing firms expect activity to grow over the next six months, though optimism “remained subdued,” per the survey report. The index for future business conditions edged up 3 points to 21.5.
The capital-spending index was little changed at 11.7, suggesting that capital-spending plans remained “somewhat soft,” the report stated.
The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.
Boeheim honored with name on entry to the Melo Center
Also received scholarship, banner SYRACUSE — Syracuse University plans a new scholarship and hoisted a new banner in the JMA Wireless Dome to honor long-time former men’s basketball head coach Jim Boeheim during a post-game ceremony on Feb. 24. The university also plans to name the entrance to
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SYRACUSE — Syracuse University plans a new scholarship and hoisted a new banner in the JMA Wireless Dome to honor long-time former men’s basketball head coach Jim Boeheim during a post-game ceremony on Feb. 24.
The university also plans to name the entrance to the Carmelo K. Anthony Basketball Center after Boeheim, who concluded his 47-year coaching career following the 2022-23 season.
Those announcements, along with local and state-government proclamations declaring Feb. 24 as Jim Boeheim Day, were part of the ceremony inside the Dome after Syracuse held off Notre Dame, to win 88-85.
Mike Tirico, an SU graduate who handles play-by-play for NBC’s Sunday Night Football, served as the ceremony’s emcee on the Jim Boeheim court.
CNYBJ monitored the event online at ACC Network Extra.
Syracuse University Chancellor Kent Syverud and his wife, SU professor Ruth Chen, presented Boeheim a plaque signifying the creation of a new, endowed scholarship in his name.
“The Jim Boeheim ‘66 Central New York scholarship … will be awarded to undergraduate students with demonstrated financial need with a preference to students who are residents of the Central New York and Finger Lakes region,” Tirico said in addressing the crowd.
Head coach Adrian Autry and current members of the Syracuse men’s basketball team presented the former coach with a painting they had commissioned that represents “some of the most iconic moments through [Boeheim’s] career,” as Tirico described it.
The ceremony also included a video showing new renderings from the Carmelo K. Anthony Basketball Center, and as Tirico announced, “As a permanent feature, the entry way to the Melo Center will pay homage to Coach Boeheim and forever be known as the Jim Boeheim Entrance to the Carmelo K. Anthony Basketball Center. That means that every recruit and student-athlete who walks through those doors will know the rich history and the expectation of playing basketball at Syracuse.”
John Wildhack, SU’s director of athletics, was then introduced and shook Boeheim’s hand as the university raised a banner above section 309, acknowledging Boeheim’s Hall of Fame basketball-coaching accomplishments between 1976 and 2023, including the 2003 NCAA Championship, five NCAA Final Fours, and 35 NCAA Tournaments.
Syracuse Mayor Ben Walsh and Onondaga County Executive Ryan McMahon presented Boeheim with a proclamation declaring Feb. 24, 2024 as Jim Boeheim Day throughout the city of Syracuse and Onondaga County.
New York State Assemblyman William Magnarelli and New York State Senator John Mannion also presented Boeheim with a resolution from the New York State Legislature that also declared the day as Jim Boeheim Day.
A representative for Gov. Kathy Hochul also presented Boeheim with a proclamation declaring the day as Jim Boeheim day throughout the state of New York.
The ceremony also included a greeting from Gov. Kathy Hochul, a 1980 graduate of Syracuse University.
In his remarks, Boeheim acknowledged his wife Juli; children Elizabeth, Jimmy, Buddy, and Jamie; the current Orange basketball team; and Coach Autry, the coaching staff, and former players who attended the event.
Those players included Boeheim’s former teammate, Dave Bing, who Boeheim called “the greatest player to ever play at Syracuse University who started this all,” which was greeted with applause from the crowd in the JMA Wireless Dome.
He also thanked the fans who Boeheim said come to the games “no matter what.”
“I’ve been forever grateful for that,” he added.
Boeheim then went on to say, “From the bottom of my heart, thank you for giving me a life nobody could’ve asked for.”
Five Star Bank parent company to pay Q1 dividend of 30 cents a share on April 2
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, announced that its board of directors recently approved a quarterly cash dividend of 30 cents per share of its common stock outstanding. The banking company will pay the first-quarter dividend on April 2, to shareholders of record on March 15. At
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, announced that its board of directors recently approved a quarterly cash dividend of 30 cents per share of its common stock outstanding.
The banking company will pay the first-quarter dividend on April 2, to shareholders of record on March 15.
At Financial Institutions’ current stock price, the dividend yields about 6.5 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has about 50 retail branches located throughout Western and Central New York. Its CNY branches include offices in Auburn, Waterloo, Geneva, Ovid, Horseheads, and Elmira.
Five Star Bank last year expanded into the Syracuse market with a new commercial-loan production office at 115 Solar St. in the city’s Franklin Square area.
Financial Institutions has about
$6.2 billion in assets, offering banking, insurance, and wealth-management products and services through a network of subsidiaries.
KeyBank parent company has a new director of investor relations
Brian Mauney is the new director of investor relations at KeyCorp (NYSE: KEY) — parent company of KeyBank, the No. 2 bank ranked by deposit market share in the 16-county Central New York region. He started in the position on March 1. Mauney, who has more than 25 years of experience in the financial-services industry,
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Brian Mauney is the new director of investor relations at KeyCorp (NYSE: KEY) — parent company of KeyBank, the No. 2 bank ranked by deposit market share in the 16-county Central New York region. He started in the position on March 1.
Mauney, who has more than 25 years of experience in the financial-services industry, previously served as the deputy director of investor relations at BNY Mellon, including responsibility for that financial-services company’s fixed-income investor relations program, KeyCorp said. Prior to that, he held a number of senior roles at Citigroup including working in corporate strategy and as a sell-side equity analyst covering U.S. banks.
In his new role at KeyCorp, Mauney reports to Clark Khayat, chief financial officer.
Vernon Patterson, the prior director of investor relations at Key, is retiring this spring after a 30-year career at the banking company, Key announced in January.
“Vern has made a lasting impact on the way Key shares its financial story to our shareholders, clients, and teammates over the course of his 30 years at the company,” Chris Gorman, chairman and CEO of KeyCorp, said in a Jan. 10 news release. “His leadership, wise counsel, and focus on building strong relationships with our investors and equity analysts have helped Key navigate both prosperous and challenging times over the years.”
Gorman added that he welcomed Mauney to Key and said he “brings a depth and variety of financial services experience to the role that I am excited to add to the organization.”
Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial-services companies, with assets of about $188 billion as of Dec. 31. Its roots trace back nearly 200 years to Albany. KeyBank has a network of more than 950 branches and over 1,200 ATMs in 15 state
Port of Oswego CNY Agricultural Center wins ACEC award
OSWEGO — The Port of Oswego Authority’s Central New York Agricultural Center, a project handled in partnership with C&S Companies, has received a silver award from the American Council of Engineering Companies (ACEC), New York Chapter. “Oswego is home to the largest facility of its kind on Lake Ontario and the most technologically advanced handling
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OSWEGO — The Port of Oswego Authority’s Central New York Agricultural Center, a project handled in partnership with C&S Companies, has received a silver award from the American Council of Engineering Companies (ACEC), New York Chapter.
“Oswego is home to the largest facility of its kind on Lake Ontario and the most technologically advanced handling system in New York State and on the Great Lakes and has an on-site USDA lab,” William Scriber, executive director and CEO of the Port of Oswego Authority (POA), said in announcing the award. “The grain handling capacity and conveyance improvements from this project have helped propel the Port to its highest level of business in years. We applaud C&S for being recognized for this award, and for the great job they did on the project.”
The $15 million project involved the construction of a centralized control building with dedicated spaces for electrical controls, the air-compressor system, and the automated silo-controls center. Installation of a new 4,000-amp electrical service powered the new silo. It also entailed setting up a fiber-optic network, implementing security upgrades, and executing drainage improvements.
The POA selected C&S Cos. to design and oversee the construction of its Grain Handling Capacity and Conveyance Improvements Project. For decades, the POA stored grain from local farmers on the ground under aging, timber-domed buildings, it said. The authority manually loaded it out for shipment by ship or rail. Recently, the POA began exporting grain internationally. To maintain its USDA export license, the Port of Oswego needed a modern silo and conveyance system, per the release. The new system is automated and includes a 21,000-metric-ton silo, an unloading pit for trucks and rail, and load-out systems for railcar, truck, and ship. Additionally, two on-site laboratories were upgraded: one for USDA inspectors to verify exports and one for SUNY Oswego to test inbound grain.
“We have more than 100 local farmers who deliver grain to the Port. This system can unload a truckload of grain (35,000 lbs.) in less than a minute, and it can load a railcar (100 tons of grain) in just minutes. This reduced unloading time allows farmers the ability to flow more grain into the facility,” Scriber said.
ACEC New York represents and supports engineering professionals in New York state. It advocates for them with its clients and all levels of government. It also offers education, inclusion, partnering, and knowledge sharing.
The Port of Oswego says its strategic location at the crossroads of the Northeastern North American shipping market, puts it less than 350 miles from 60 million people.
Ask Rusty: Can One Work While Collecting SS Disability?
Dear Rusty: If a person is collecting Social Security (SS) disability benefits, can he, at any point, work at all? If he can, what is the maximum he can earn and still keep the disability benefit? I am asking because my husband is still young, but his injuries will not allow him to go back
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Dear Rusty: If a person is collecting Social Security (SS) disability benefits, can he, at any point, work at all? If he can, what is the maximum he can earn and still keep the disability benefit? I am asking because my husband is still young, but his injuries will not allow him to go back to the job he had prior to his injuries and surgeries. He does not just want to sit at home doing nothing.
Signed: Concerned Wife
Dear Concerned: Actually, the Social Security Administration (SSA) encourages those collecting SSDI (Social Security Disability Insurance) benefits to attempt to go back to work and it provides considerable leeway for them to do so. The monthly earnings limit for those collecting SSDI benefits in 2024 is $1,550. As long as your husband earns less than the limit while working, his SSDI benefits will not be in jeopardy. Your husband should contact Social Security’s Ticket to Work program directly to protect his disability status and discuss returning to work while collecting SSDI benefits.
The Ticket to Work program assists those now receiving SSDI benefits who wish to test their ability to return to work without putting their SSDI benefits at risk. The program provides considerable assistance — including new career-training opportunities and connection to potential employers — and it is voluntary and costs nothing. More information on Social Security’s Ticket to Work program is available at: https://choosework.ssa.gov/
It’s not mandatory for your husband to enroll in the Ticket to Work program but, in addition to other available assistance, he can request a trial-work period, which would allow for nine months, over a rolling five-year period, during which he can earn any amount (even over the normal monthly limit mentioned above) without risking his SSDI benefits. Within the trial-work period, only those months he earns over the normal monthly SSDI limit would count as a trial-work month. So, for example, your husband could work part time regularly earning under the normal monthly limit and if, in some months (up to nine), he earned more it wouldn’t affect his SSDI benefits.
So, your younger disabled husband can, indeed, work while on Social Security disability, for as long as he wishes while earning under the monthly SSDI limit (the SSDI earnings limit changes yearly). He may also wish to enroll in Social Security’s Ticket to Work program for assistance with developing a new career. Plus, he can take advantage of using trial-work months in the event his work earnings will, at times, exceed the monthly SSDI limit. If your husband earns over the SSDI limit for more than the nine trial-work months and his benefits are consequently stopped, he can — within the 5-year trial-work period — have his benefits reinstated (without again going through the full application process) if his disability, once more, renders him unable to work full time.
For starters, I suggest your husband contact Social Security’s Ticket to Work program directly at (833) 889-0108 to discuss returning to work part time. The SSA will guide him through the entire process.
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.
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