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Category Archives: Business Reports

Business Report: Pets In The Workplace

Posted onJuly 15, 2019July 15, 2019
Rose Miller is president of Pinnacle Human Resources LLC.

By Rose Miller

While in Pennsylvania on business, my husband and I stayed at a “pet friendly” hotel. Second day in, my husband commented that he feels his life has gone to the dogs because we found ourselves eating and sleeping with dogs.

Instead of waking to a crying baby, we awoke to a whining and barking dog needing to be let out. There is a pervasive trend in American society to place the same importance on pets as they do for a human family member. In fact, we hear people instantly complain when young children are in the room, yet there seems to be a greater tolerance for animals.

There is a growing demand for pet-friendly policies in today’s workplace. Companies are dealing with mandated leaves for family caregivers and “pet parents” desire the same type of leaves for their pet responsibilities. A study conducted by the American Pet Products Associations found that 17 percent of employers had pet-friendly policies.

They include: bringing pets to work; furternity (leave for the birth or adoption of a pet); and pet bereavement leave.

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Business Report: Tools Great For Father’s Day And Investors

Posted onJune 13, 2019June 14, 2019
Meghan Murray is a financial advisor with Edward Jones Financial in Queensbury.

By Meghan Murray
If you’re a dad, you may well be pleased to unwrap some tools as Father’s Day gifts. Of course, it might be a stereotype that all men are handy at repairs; women certainly can be every bit as good when it comes to building and fixing things.
In fact, the construction process is valuable for anyone to learn – and the same skills that go in to creating and mending physical objects also can be applied to financial projects – such as working toward a comfortable retirement.
Here are a few of those skills:
Diagnosing the challenge.
A good craftsperson knows that the first step toward accomplishing any outcome is to assess the challenge. So, for example, if you want to build some bookshelves right into the wall, you’ll need to locate the wall studs, determine if you have adequate space for the shelving you want and allow room for future expansion.

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Business Report: The Right Health Insurance For Your Needs

Posted onJune 13, 2019June 14, 2019
Stephen Kyne, CFP, partner at Sterling Manor Financial in Saratoga Springs.

By Stephen Kyne, CFP
Life insurance can be an important part of your financial plan, but do you know what kind of insurance is right for your needs? Insurance comes in many forms, and many people have the wrong type of insurance, and aren’t insuring their need in an efficient way. That means they may be needlessly overspending.
There are two basic types of life insurance: permanent and term. We’ll discuss each of these, how they may be best used, and how not to use them.
Term insurance is temporary, and is intended to cover a temporary need. You can buy a policy which covers a duration from one to forty years. These policies typically include a level premium for the duration of the policy, so they are easy to budget since the premium will not increase during the term.

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Business Report: No Surprises During Period Of Transition

Posted onMay 17, 2019May 17, 2019
Kendall is the owner of Kendall & Associates Organizational Development.

By Leslie Kendall
Change is one of the few constants in today’s workplace. In order to engage in successful transition, it is imperative for an organization to develop and implement a clear plan of action. All of your stakeholders, especially employees, will respond best to transition when they know what to expect and how they will be impacted.
I am convinced that long-range planning is the best approach to successfully implementing any type of organizational change. Planning will increase employees’ understanding of the reasons for change and reduce potential resistance by including them as collaborative partners in the process.
There are proven strategies that businesses, non-profit groups, and government agencies can follow to invoke change effectively in their organizations. Here are some tips:
First, it is essential to involve everyone in the change process and schedule, allowing ample time for input. People need different amounts of time to react to change in the workplace and to assess how it may affect their personal lives.

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Business Report: Lifelong Learning

Posted onMay 17, 2019May 17, 2019
Michael Cruz, president of Lighthouse Advisors LLC in Queensbury.

By Michael Cruz
We all need to constantly improve. My mantra is: Whatever it is that got you where you are, is not enough to keep you there.
I have been involved with an organization called BNI for more than a dozen years. BNI helps its members grow their business. Lifelong learning is one of its core values. Wiki defines lifelong learning as the ongoing, voluntary, and self-motivated pursuit of knowledge for either personal or professional reasons.
You keep on learning. But, do you help your team pursue continued learning?
During their appraisal process you should identify places where a member of your team can improve their skills. Most people value learning activity higher than raises. This comes in the form of product or technical knowledge. Yet it should include skills that prepare them for the next role they can pursue within your company.
As leaders, we owe it to our people, and ourselves, to help our personnel develop skills. So, act as a leader. Identify a skill, select appropriate training opportunities and pay for it. You pay for it in two ways. One with dollars, then with time to train. And, most important, with discussion and reinforcement of what they learned.

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Business Report: Win More Business

Posted onMarch 14, 2019May 22, 2019
Michael Cruz, president of Lighthouse Advisors LLC in Queensbury.

If you have ever not made a sale, you wonder why. “What could I have done differently?” Or, “Why did they pick them?” My colleague, Alan Tsang, an international negotiation trainer says “How can you lose what you never had?”

A pollster did a survey asking prospects why they did not buy. They also asked the sales reps why they did not win. Salespeople said they lost because of price and customer stupidity. Buyers, on the contrary, said that they were concerned about the company or, more simply, they did not like the sales representative. They never mentioned price. The most important thing is selling is to establish trust. Sales opportunities start to go south when people forget a simple axiom..: We are all born with two eats and one mouth. Use them proportionally.

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Business Report: Celebrate Women’s History Month

Posted onMarch 14, 2019March 14, 2019
Pamela Green is a financial advisor in Glens Falls at Morgan Stanley Smith Barney LLC.

PROVIDED COURTESY OF Pamela Green
March is not just the month that comes in like a lion and goes out like a lamb. It is Women’s History Month, a time to celebrate the social, economic, cultural and political achievement of women. In recent years, women have been making history with their emergence as a powerful economic force.
In fact, women control nearly 4 percent—or $11.2 trillion—of all investable assets in the U.S. as primary decision makers. They also represent almost half of the entire U.S. professional workforce.

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Business Report: Roth IRA And Traditional IRA

Posted onMarch 14, 2019March 14, 2019
Kevin M. Hedley is a partner with Hedley & Co. PLLC.

By Kevin M. Hedley
2018 was a year that most people who watch the financial markets are likely going to want to forget. There were few positive numbers across the different asset classes and sectors. At the broadest level the U.S. bond market was the only market to see a positive return—all of one basis point.
It was an unusual year with few places to find a positive return. In fact of the eight major asset classes none of them provided a return above 2 percent – the first time since 1972.

Read More

Business Report: Put Investment Performance In Perspective

Posted onJanuary 16, 2019January 17, 2019
Meghan Murray is a financial advisor with Edward Jones Financial in Queensbury.

By Meghan Murray

How can you assess your investment portfolio’s performance in 2018? The year was full of wild swings in the financial markets, so your own results may well have bounced around quite a bit, too.

But you can still get a clear picture of how you did if you keep your investments’ returns in the proper perspective by making sure your expectations are relevant, realistic and reviewed.

Let’s look at how these terms can apply to a meaningful evaluation of your investment progress:

Relevant. Many investors compare their portfolio returns to a popular market index, such as the S&P 500. But this comparison is not really valid for a variety of reasons. For one thing, indexes are typically not diversified across different types of investments—the S&P 500, for instance, only tracks large U.S. companies.

But your portfolio should consist of a broad range of investments: domestic and international stocks, bonds, mutual funds, government securities and so on, appropriate for your goals and risk tolerance.

Read More

Business Report: Tips For Negotiating Commercial Leases

Posted onOctober 11, 2018October 11, 2018
Jennifer Tysn is a business law attorney with Bond Schoeneck & King.

BY JENNIFER TSYN

Whether your business is just starting up, expanding or relocating, a key concern for most businesses is finding the right space. That process can be fraught with difficulties, especially when it comes to negotiating the lease.

Most landlords will present prospective tenants with a draft lease that is very favorable to the landlord. This means that when negotiating with the landlord, it is easy for tenants to overlook issues that may cause problems in the future.

Here are some of the key issues a new tenant should consider when reviewing a draft lease for commercial space include:

What are the “premises” and how can you use the space?

The space that is being leased should be defined clearly. If the lease references square feet, make sure it is clear whether rentable square feet or usable square feet are being discussed. Additionally, you will want to be clear about when, and how, you and your employees or customers can use common areas of the building, such as hallways and common restrooms, as well as parking areas. The lease should also specify who is responsible for cleaning, maintaining and making repairs to these areas.

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