Vacant Arden Hill Hospital Campus Will be the Site of Proton

THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Vacant Arden Hill Hospital Campus Will
be the Site of Proton Therapy Suite
IN THIS ISSUE
Orange County Continues to Build Healthcare Economy
Time to Vote on Casino
Gambling in NYS
Page 3
The Art of Giving Good
Referrals
Page 4
Was the Washington Deal a
Trick or a Treat?
Page 7
How Economic Cycles Impact
Careers
Page 10
By Debbie Kwiatoski
It is possible that cancer patients in the Mid-Hudson Valley may have a new tool with which to fight their cancer
within the next two years. Mevion S250 Proton Therapy System, in association with Children’s Medical Miracle
Network Goshen Partners LLC , are planning to build a proton therapy facility on the site of the old Arden Hill
Hospital and its associate medical office buildings. According to Goshen Village Mayor, Kyle Ruddey, the plans are
about to be presented to the Village Planning Board and that process will have to progress before there is ground
breaking, but he and other village officials do not see any red flags flying over that process.
“ This is a project that is nothing short of transformational,“ said Ruddey. “..not just in terms of tey jobs it will produce
for the area, but in terms of the people that could be helped over the years with this technology.”
.
continued on page 2
"
PAGE 1
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Proton Therapy Facility Planned for Goshen
Proton therapy is a new kind of radiation therapy that uses protons,
rather than photons, to target and kill cancer cells. It has been approved
for use by the FDA for over a decade and is highly effective, especially
for tumors that are in places not safely reached by conventional
radiation, as well as for children, who typically live long enough to
experience the effects of long term radiation poisoning.
Unlike conventional radiation, proton therapy deposits its energy almost
completely within the cancer tumor, causing little or no destruction to
healthy tissue on its way in or out of the body. For this reason, it is
highly effective for prostate cancers, brain cancers and lung tumors, as
well as for tumors located too close to other major organs for
conventional radiation. It has been approved as a treatment by the
FDA for over a decade.
“But that’s a well-know piece of
property,” he noted. “There shouldn’t
be any surprises and I know both the
village board, the planning board
and
everyone involved in the process is
very excited about this project.”
According to Cogswell, about 60% of
the patients expected to need proton
therapy are prostate patients. 30%
are children with various cancers
To date, there are only ten proton therapy treatment centers in the
United States, typically located in in major cancer research centers or
funded by universities, like Harvard and Princeton. This,
explained, has been due to the extraordinarily high cost of building such
facilities in the past.
Basically, these centers have involved building a proton accelerator in
order to speed the protons up enough to use - and the price tag has
come in at around $300 to $400 million dollars.
“We have pioneered a process that scales this equipment down
significantly and brings the development cost down to around $40
million,” said Michael Cogswell, Global Vice President of Mevion
.
The company’s technology was approved by the FDA last year and they
are now engaged in siting these smaller suites in many more places
around the country. The plan is to partner with oncologists, hospitals
and cancer treatment centers in the area to offer the specialized care.
There are also plans to work with the Children’s Medical Miracle
Network (based in the Greater Metro area) to bring children from
around the world in need of cancer treatment to the facility.
“This is not just about a medical breakthrough treatment - which of
course it is, it’s also going to be an economic driver for the whole
region,” said Mike Sullivan, Director of Business Attraction for the
Orange County Partnership.
“Project Proton,” he added was just one of 64 projects in the planning
stages in Orange County, although he stressed it was one that was
“close to the top” in terms of strategic importance for the county’s long
term economic goals. This project, he noted would be an excellent
adjunct to the Turo Medical College now being developed at the former
Horton Hospital campus and a magnet for other health-related projects.
According to Ruddey, as exciting as the new proton therapy facility was,
it still had to go through the village’s planning process, including a full
SEQRA that has yet to be done.
"
PAGE 2
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Time to Vote On Casino Gambling in NYS
By Kathy Kahn
Residents are hoping gambling will finally come to
the Catskills after a 30 year wait.
The wording of the referendum, which touts
gambling as an economic engine, job creator and
source for education dollars, was challenged by
Brooklyn attorney Eric Snyder, who said the
description violated the State’s constitution. His
lawsuit was shot down
by Supreme Court
Justice Richard
Platkin in Albany the
week of October 14.
The so-called “rosy
referendum” will be
on the ballot
November 5.
Gov. Andrew
Cuomo made a
commitment to get
gambling on the
November
referendum. “New
York is already in
the ‘casino’
business...only
they are calling
themselves
‘racinos’...39
casinos surround
New York and are
taking our
residents and
dollars with them,”
he said in his State
of the State
address. Cuomo
proposed three
gambling venues
Above: Gamblers at the Racino in Montice!o.
to revive the
upstate economy— Below: Campaigning for Casino gambling gets hotter.
which the
Legislature upped
to four—and the
Catskills are hoping
to snag two of them.
Several parties are
vying to for the
coveted gaming
license. In Sullivan,
EPT/Empire
Resorts, owners of
Monticello
Raceway/Casino
(its major
shareholder is Kien
Huat Realty III Ltd, a subsidiary of Genting
Malaysia), plans to relocate the harness track and
build a resort on land formerly part of the original
Concord property; Muss Development, which signed
an agreement with Foxwoods Casino to purchase
the former Grossinger’s Resort property in Liberty;
and Westchester developer Louis Cappelli still has
skin in the game; Over in Ulster County, Michael
Treanor, CEO, whose organization bought the
Nevele, has plans for renovating the former resort on
hold until after Election Day.
"
Whether you’re for or
against gambling,
investors are
counting on the
referendum’s
passage. Cuomo,
who assembled a
Gaming Commission
to choose the
developers, said the
creation of casinos
upstate would draw
many of the 50
million tourists who
visit New York City
annually, as well as
the 9 million residents
of the five boroughs.
Two former Catskill
destinations-- Big
Vanilla, slated to
become the Davos
Resort (see related
article) and Kutscher’s,
which was purchased
by Veria Lifestyle (a
subsidiary owned by
Indian billionaire
Subbash Chandra) for
$90 million—are not focused on gambling, but rather
on bringing a holistic retreat/resort experience to the
region, focusing on rest, relaxation, nutrition and
exercise.
Sullivan County’s unemployment rate continues to
be the highest in the mid-Hudson, hovering at 7.6
percent—which only factors in those who are
receiving NYS unemployment benefits.
PAGE 3
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Learning to be a Good Giver - The Art of Giving Good Referrals
By Ron Sukenick
It’s so often that we run around looking to meet and
greet, make connection, and if available, receive
some good referrals for the effort we put out
But I always remember the infamous words of my
loving mother who sat me down one day and said
son, I always want you to remember that while it’s
nice to receive gifts, the gift is always in the giving.
That phrase has stuck with me every day since she
said that.
So the question you might ask yourself is this –
When it comes to giving referrals, how are you
doing?
Many people I know often state that’s its not easy
finding and giving referrals to other.
While giving good referrals is an art, there is also a
science to it.
2. Use the phrase, “I know someone who can get that
done.” – As a rule, people who have a need won’t
necessarily ask you for a referral. If they don’t know
you, and sometimes even when they do, they may feel
as if this would be an imposition on you. When you
listen to the needs of others and then use the phrase “I
know someone who can get that done,” you are the one
who takes control of the situation and creates action.
This is an example of the Triple Win Theory – You feel
good about helping others, they appreciate the referral,
and the person you referred appreciates you thinking of
them. In my opinion, there is no better way to build a
relationship.
3. Share your experiences about the person you are
referring – When sharing your experiences about the
person you are referring with others, you build
confidence and trust. People do business with people
they meet, feel comfortable with and trust.
Although your referral does not guarantee
a sale, it will usually open the door for your associate to
continued on page 6
The purpose behind giving good referrals is not a
mystery, but it does require an understanding of the
steps of referral giving.
Allow me to provide what I find is a simple process
to support your referral giving efforts.
1. Be a good Listener – Listen for the needs of
people you know with whom you meet and wish to
develop a relationship with. Good Referral Givers
mind other’s people’s business. Remember, when
you speak, you learn what you know, when you
listen, you learn what other know, and have a need
for.
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PAGE 4
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
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"
PAGE 5
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Learning to be a Good Giver - The Art of Giving Good Referrals
begin the relationship process with others.
Remember, people do not want to go to the phone
book unless they must. While the phone book is a
place to advertise, many people use it as a last
resort. A personal referral is the preferred way to do
business.
4. Give a business card of the person you are
referring – Always carry at least three business
cards of each person in your network of key
contacts. When you meet someone who has a
need, be prepared not only to mention a name, but
also to pass along the person’s business card.
Doing so gives your referral added weight and
immediate action, which often leads to some
positive results.
continued from page 4
and trust… to someone you care about.
And now you know the rest of the story.
Ron Sukenick is the co-Author of the recently released
book – 21 Day to Success Through Networking: The Life
and Times of Gnik Rowten. He is the Chief Relationship
Officer and founder of the Relationship Strategies
Institute, www.RelationshipStrategiesInstitute.com.
5. Ask for calling permission – Ask the prospect if
you’re associate can call them. This action can
make the distinction between a good referral and a
poor referral. A good referral has an immediate
need and the prospect is willing to accept a phone
call from your associate. Even if the individual does
not have a direct or immediate need, securing
permission for your associate to call gives the
individual an opportunity to develop a new
relationship.
6. Call your associate - After referring an individual
from your network of key contacts, call the
individual to make him or her aware of the referral.
Relay everything you know about the prospect you
referred to him or her. The information you pass on
to them may be invaluable. Your information may
point out a common thread that can help the new
relationship develop.
So when all is said and done, a good referral is
when you recommend someone that you know, like
Hudson Valley Business Digital
Publisher/editor.....Debbie Kwiatoski
All Inquiries: [email protected]
Contributors...Terri Schlichenmeyer, Debbie Kwiatoski, John Graham
Ken Mahoney, Kathy Kahn, David John Marotta, Ann Bartgis
Copyright 2013
All Rights Reserved
Volume 2, Issue 41
"
PAGE 6
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
OPINION
Was the Washington Deal a
Trick or Treat?
By Ken Mahoney
Markets experienced one of the best weeks in
months, with the S&P 500 setting a new high after
lawmakers finally struck a deal to reopen the
government and raise the
debt ceiling. For the week,
the S&P 500 gained 2.42%,
the Dow gained 1.07%, and
the NASDAQ gained
3.23%.[i]
An agreement was finally
reached last Wednesday to
reopen the government,
raise the debt ceiling, and
avert a default on U.S. debt.
The deal came on the 16th
day of the shutdown and
just one day before the U.S.
Treasury would have hit the
debt ceiling and exhausted
its ability to borrow money.
Now here’s the bad news:
the deal maintains the
sequester and only funds
the government through
January 15 and raises the
debt ceiling until February
15.[ii]
Unfortunately, kicking the can down the road means
that we’ll be revisiting the issue again after the New
Year. There’s a tremendous amount of mistrust not
only between the parties, but also within the
Republican Party, meaning that the next fiscal
showdown may be just as acrimonious and drawn
out.
An eye-popping new report suggests that
Congressional budget battles, debt ceiling standoffs,
and federal spending cuts have cost the country
nearly 3% of GDP growth since 2011 – roughly $700
billion in lost economic growth. Digging a little deeper
into the numbers, we discover that spending cuts
alone have taken a significant chunk – 0.7% - out of
annual GDP growth since 2010. Worse, this is an
annual reduction in GDP growth, meaning the effects
compound over time.[iii]
"
On the positive side, it’s looking unlikely that the Fed
will begin tapering this year since economists will
have difficulty weeding out the effects of the shutdown
from broader economic trends. According to Dallas
Fed president Richard Fisher, Congress didn’t just put
on the economic brakes during the shutdown, they
“smashed the instrument panel,” making the timing of
a taper extremely uncertain.[iv] While some believe
that a December taper is still possible, it’s possible
that the Fed will delay until
mid-2014.[v]
With the default crisis averted,
investors are now turning their
attention to third quarter
earnings season. Overall,
earnings are looking anemic
again as companies struggle
with weak demand and declining
profit margins. Thus far, most of
the earnings and revenue
growth is coming from the
finance sector, which is reporting
total earnings growth of 14.6%.
As for the rest, even with
reduced earnings estimates,
companies are having trouble
meeting or exceeding those
expectations. Total earnings for
the 99 S&P 500 companies that
have reported in are up 1.0%
from the same period last year,
with 62.6% beating earnings
expectations. However,
excluding finance, total earnings growth from those
companies falls into the negative territory: -6.2%.[vi]
Markets have a big week ahead of them as a slew of
earnings reports will be released, including major
players DuPont (DD), Amazon (AMZN), Netflix
(NLFX), and Ford (F). Investors will also finally get a
look at the delayed September jobs report on
Tuesday. It’s hard to know which way markets will
move next week as investors digest earnings reports
and take a look at fourth quarter expectations. If
earnings data beats expectations, we could see the
rally continue. However, if the fundamentals look
weak, investors could take profits from the recent
market highs and consolidate, waiting for good news.
As always, we’ll continue to keep an eye on things
and keep you updated.
PAGE 7
THE HUDSON VALLEY’S BUSINESS WEEKLY
T:7.5 in
NOVEMBER 1 - NOVEMBER 8, 2013
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Visit us at firstniagara.com
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PAGE 8
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Important Reminders about Tip Income
If your pay from your job includes tips, the
IRS has a few important reminders about tip
income:
•
•
•
Tips are taxable. Individuals
must pay federal income
tax on any tips they
receive. The value of
non-cash tips, such as
tickets, passes or other
items of value are also
subject to income tax.
Include all tips on your return.
You must include all tips
that you receive during
the year on your income
tax return. This includes
tips you received directly
from customers, tips
added to credit cards and
your share of tips
received under a tipsplitting agreement with
other employees.
Report tips to your employer. If
you receive $20 or more
in cash tips in any one
month, you must report
your tips for that month to
your employer. Your
employer is required to
withhold federal income,
Advertising in
Hudson Valley
Business Digital
means
24/7/365
Exposure
[email protected]
(845) 332 - 6097
"
Social Security and Medicare taxes on the
reported tips.
•
Keep a daily log of tips. You can use IRS Publication
1244, Employee's Daily Record of Tips and
Report to Employer, to record your tips.
Heather C. Briccetti Appointed to Tax Relief
Commission
Heather C. Briccetti, Esq., president and CEO of The Business
Council of New York State, has been appointed to the newly
formed Tax Relief Commission.
"Taxes are a defining factor impacting the state's economic
performance," Heather C. Briccetti, Esq., president and CEO of
The Business Council of New York State said. "The Business
Council welcomes the opportunity to participate in this effort to
relieve the burden of property taxes, which cost business in the
state more than $17 billion each year, and review the long list
of other taxes that are unduly burdensome to business."
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PAGE 9
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
Economy vs. Aspirations: How Financial Cycles Impact Careers
Mount Saint Mary College business professors Moira Tolan and A.
Reza Hossain recently examined “The Impact of Economic Cycles
on the Career Aspirations and Values of College Students.”
Tolan and Hossain shared recent findings in their ongoing project
addressing the career expectations and workplace values of “new
millennials,” born circa 1980 through 2002. Their research also
explored whether the prolonged economic downturn has altered
student priorities regarding careers and values.
“Educators need to know how students are feeling and how their
values are changing in regard to external events, like the economy,”
explained Tolan. If educators know how students view these events,
“and students are starting to value things that won’t help them in the
future, we can make some suggestions, or improve the way we are
delivering educational services.”
the news in the region and beyond.
The goal of the Mount’s iROC seminar
series is to “provide a forum for Mount
faculty, staff, and students to present
research proposals, preliminary data,
and completed projects,” explained
Douglas A. Robinson, assistant
professor of biology and coordinator of
the program.
The study, which includes data from New York college students from
2010 and 2013, found that students rank comfort and security as
the two most important workplace values. The professors also noted
that male and female participants have similar workplace
expectations, which has not always been the case for some
generations.
“We also see that the recession might have played a role in having
competence more valuable to the students,” said Hossain. “There is
evidence suggesting this is true,” Tolan added, though not enough
to prove the hypothesis definitively.
Tolan and Hossain have published previous works on the topic and
presented at multiple conferences. They are both accomplished
resources.
Tolan’s area of specialization is management education and her
research has focused on the development of organizational
citizenship.
She documents the relationship between service-learning projects
and future participation in organizational citizenship, such as
workplace behavior and helping others who have been absent, in
the upcoming book “Adolescence in the 21st Century: Constants
and Challenge.”
Hossain, associate professor at the Mount, is an economist whose
research interests are urban economics and mortgage credit
markets. Hossain is a frequent commentator on economic issues in
"Change is hard because people overestimate the
value of what they have—and underestimate the
value of what they may gain by giving that up."
— James Belasco and Ralph Stayer
Flight of the Buffalo (1994)
"
PAGE 10
THE HUDSON VALLEY’S BUSINESS WEEKLY
NOVEMBER 1 - NOVEMBER 8, 2013
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