Archive: Business & Technology

New York state's short-term financial condition continues to improve and the state has built on its reserves, but the 2015-16 Enacted State Budget contains broad statutory authority on some spending, according to an analysis released today by State Comptroller Thomas P. DiNapoli.

"Fortunately, New York state has moved beyond the recurring budget gridlock of the past," DiNapoli said. "The Governor and the Legislature deserve credit for that. On the positive side, a timely budget was enacted and reserves have been strengthened. Areas of concern include the adequacy of statutory language to ensure settlement monies will be spent as intended. The budget also includes billions of dollars in new debt and lump sum appropriations for the Executive and Legislature to use at their discretion, leading to questions about transparency and accountability."

Tompkins Trust Company is expanding its financial services offerings into the Syracuse market under the leadership of an experienced commercial banker, Brian Bisaccio.

Bisaccio has been appointed Senior Vice President and Regional Manager to develop commercial lending services based in Onondaga County, said Greg Hartz, President and CEO.  As Tompkins Trust Company grows in the Syracuse market, Brian will be joined by representatives from Tompkins Financial Advisors, the company's wealth management firm, and Tompkins Insurance Agencies, an agency with roots going back 100 years in Central New York.

Wednesday was tax day, so it's a good time to think about what we're getting for our tax money.  According to a Wellethub analysis New York is in the lower half of states in therms of Return On Investment (ROI) for tax dollars, ranking 35th out of 50.  While Alaskans pay more than just about anyone in taxes, their state ranks number one on ROI.  New York's ROI may not be swell, but Arkansas ranked lowest in the list.

New York ranked quite low on infrastructure, ranking last or close to last in the bottom five states for hospital systems, water quality, and worst roads and bridges.  The state ranks 22nd in overall services.  However it ranks 9th in safety, 14th in health, and 16th in education.

Aunt Jemima, Betty Crocker, Mrs. Butterworth, Trader K.  Three are fictional, but one is real.  The real one, Trader K(aren Sciarabba), is celebrating 20 years next month of buying and selling clothing in Ithaca.  From humble beginnings in downtown Ithaca Trader K's has become one of the largest independently owned used clothing stores.

"We're doing something right and we have to keep doing that," says her husband and business partner Jay.  "It brings more people to Ithaca, which is going to help on the Commons, too.  In 20 years the most fun part is we're still looking through people's clothes.  We're not sick of it.  To me the fun part is that every nook and cranny is filled with inventory, so where can I find more space?"

Columbus, Ohio -- DSW Inc., a leading branded footwear and accessories retailer, announced Thursday a new DSW is coming to The Shops at Ithaca Mall. The store will open on April 23, 2015. The public is invited to DSW's Grand Opening & Ribbon Cutting Event on the Thursday, April 23rd at 9:30am. The event will be held at DSW's inside entrance, located between ULTA Beauty and Dick's sporting Goods.

The brand new store will be stocked with designer and name brands at truly amazing deals. 12,000 pairs of women's and men's shoes and more fill the 11,000 square feet space, making DSW the coolest shopping destination in Ithaca, New York right now. Ladies will be able to shop the latest spring trends including bright prints, retro styles, bohemian looks, and jeweled accents. Guys will be able to get running shoes, sandals, dress shoes, and sneakers from their favorite brands.

Families looking for an alternative to nursing home care for their elderly relatives now have a new option in Ithaca: a three-bedroom ranch that will be the first supervised home to offer care for fewer than five seniors in Tompkins County.

Redmoon Caregivers & Consultants will provide home health aide services and nursing case management services to residents at the home, located at 20 Perigrine Way. The agency partnered with Brookside Homes of America, a home-based care company in Erie, Pa. which recently purchased the home in Ithaca.

New York State Comptroller Thomas P. DiNapoli announced Tuesday that Archer Daniels Midland Co. (ADM), one of the world's leading suppliers of agricultural products to food companies, has agreed to use only sustainably-sourced palm and soy products that are certified free of any link to deforestation, a leading cause of climate change. As a result of the company's commitments, the New York State Common Retirement Fund (Fund) has withdrawn its anti-deforestation shareholder proposal, which it co-filed with Green Century Capital Management.

"ADM's commitment to using only sustainably-sourced palm and soy products validates our message that strong environmental policies make economic sense," said DiNapoli. "We will continue to engage our portfolio companies on multiple fronts to improve their environmental practices. Business practices that destroy the environment and foster climate change can not only harm the public, but can damage corporations' reputations, their bottom line and their investors."

The Tompkins County Workers' Center announced that it has certified 96 employers as being Living Wage Employers.  Three new employers were recently added:

• Cancer Resource Center of the Finger Lakes, 612 W. State Street, Ithaca;
• Cinemapolis, 120 E. Green Street, Ithaca;
• Tompkins County Recycling, LLC, 160 Commercial Avenue, Ithaca;

 
The Cancer Resource Center of the Finger Lakes; Cinemapolis Theater; and Tompkins County Recycling, LLC, employ a total of 31 workers; this brings the total of workers, countywide and regionally, who are working for Living Wage Employers up to over 2,988 people.
 

Williamsville, NY – Tops Friendly Markets, a leading full-service grocery retailer in upstate New York, northern Pennsylvania and western Vermont has announced that the company has been awarded the Independent Retailer of the Year distinction from New York City-based industry publication, Grocery Headquarters.

The title comes with a cover story in the publication's February issue titled "Tops of the Town," and an awards dinner in downtown Buffalo in late February.

The average bonus paid in New York City's security industry rose by 2 percent to $172,860 in 2014, according to an estimate released today by New York State Comptroller Thomas P. DiNapoli. Even though the industry was slightly less profitable in 2014, it added 2,300 jobs in New York City, the first year the industry has added jobs since 2011.

"The cost of legal settlements related to the 2008 financial crisis continues to be a drag on Wall Street profits, but the securities industry remains profitable and well-compensated even as it adjusts to regulatory changes," DiNapoli said. "The resumption of job growth in the securities industry bodes well for the New York's economy, but it remains to be seen whether this trend will be sustained."

Jeffrey Dende, who has worked in the insurance and financial field for seven years, has been named an account executive at The Wood Office, an independent insurance and risk management agency in Lansing.

Dende is the fifth account executive hired at The Wood Office, which has been providing insurance coverage in Tompkins County since 1853. "Our business is expanding and we need more staff to serve our growing customer base," said Jamie Ferris, the company's president.