February 2006 - poconobusinessjournal.com

Transcription

Pocono Business Journal
Seven Bridge Road, RR# 5 Box 5198
East Stroudsburg, PA 18301
www.pbjonline.com
POCONO
Regional Business News & Resources
THIS MONTH
• Angel Networks
Help Business..............page 5
• Professional
Profile................. pages 8 – 9
• Anatomy of a
Business Plan............page 10
February 2006, Vol. 2, Issue 2
Financial
Banking Industry Responds to
Changes in Pocono Demographics
QUOTE
There is no future in any
job. The future lies in the
man who holds the job.
OBSERVE
American Heart Month
2
8
14
23
Groundhog Day
Fountain Pen Invented (1883)
Valentine’s Day
Rotary Club Founded (1905)
QUESTION
How many people are
employed by the retail trade
in Monroe County?
See PMCC business Magazine ad
for the answer on page 10.
please recycle this paper
www.pbjonline.com
Photo Credit: Perry Hebard
George Crane
Bruce W. Samson and Darla Stern are applying for a residential mortgage loan with ESSA Bank & Trust Loan Interviewer, Beverly
Lamberson. Building relationships between the bank and its consumers are a high priority in responding to the changing needs of the
growing Pocono population.
By Kathy Ruff
All businesses must adapt to changing demographics if
they want to remain competitive and grow in market share.
Banking is one industry in particular that has adapted to
changing times.
Regional banks, like all businesses, have had to adjust
the method by which services are delivered in response to
changes in the customer base over recent years.
To illustrate how the market has changed, what was once
a rural haven for vacation and second homes in Monroe
County has become a suburban area where over 43 percent
of its residents are between the ages of 25 and 54.
Stroudsburg’s ESSA Bank & Trust has seen its own
growth over the past few years as it builds contacts and relationships around its core business of providing mortgages.
“Where we have experienced growth on the retail side
of our operation, we have opened new offices or enhanced
existing facilities to meet increased demand for service in
the area,” says Nancy S. Cross, ESSA’s director of marketing
services. New offices most recently opened are in Blakeslee
and Pen Argyl, and ESSA plans to supplement its Tannersville location inside Mr. Z’s with a new full-service office in
the Tannersville Plaza.
“We have been experiencing a growth rate of some 10
percent a year for several years,” says Cross. “In the summer of 2003, we were just shy of $500 million in assets. We
ended our fiscal year on September 30 (2005) at $654 million.”
ESSA plans to expand its commercial business lending to
small- and medium-sized businesses in response to the growing
business culture and has hired additional staff to accommodate
that aspect of its business.
The company also adapted its business methods to include
mortgage closings at locations and times that are convenient to its
customers.
Convenience and customer service represent ongoing highlights for the Mauch Chunk Trust Company, Jim Thorpe.
“We are not doing anything differently other than responding to what the customer is looking for,” says Patrick H. Reilly,
president and CEO. “The market has been evolving and changing
for as long as I can remember. We update our business plan annually and we always try to look out three years and try to figure
out where the market is going to be and what we have to do with
products and services to meet the needs of our customers.”
Customer demand has changed the way the bank provides its
services.
“The services our customers want are much more technology-driven,” says Reilly. “We used to think in terms of faceto-face, personal service. We still do that. But service now
increasingly is being defined as any interaction the customer
has with your institution.”
see BANKING page 6
Professional Profile - Four Million Dollars Awarded to Grow Jobs, Businesses in the Region
page 8
2
Pocono Business Journal | February 2006
MONTHLY MISSIVE
www.pbjonline.com
POCONO
Twin Willow Publishing Company
Seven Bridge Road
RR#5 Box 5198
East Stroudsburg, PA 18301-9209
570.223.9910 | fax 570.223.0911
www.pbjonline.com
PUBLISHER / EDITOR
Marynell Strunk
REPORTERS
Ken Clark
Ann Gerfelder
Kathy Ruff
CONTRIBUTORS
Kevin Shivers
This month the Pocono Business Journal is exploring different financial aspects that can affect a business or impact the community. For starters, banks are a business and an institution that
everyone – not only businesspeople – interacts with. Read the cover story for an in-depth look
at the many different ways regional banks are responding to the changing demographics in the
Pocono community. You’ll also find out how local entrepreneurs and venture capitalists are involved in the Angel Network, and how they’re investing in fledgling businesses and giving them
the resources needed to take flight. Another great story gives the basics of writing a business plan
to help growing businesses get financing. Don’t miss the Professional Profile – find out about the
ESU Center for Research and Economic Development – and see how some recent financing will
have substantial economic impact on northeastern Pennsylvania.
Pocono Business Journal is gaining momentum with the fourth issue completed and some
informative issues planned for the readers throughout the year. The support of the business
community has been wonderful. Let’s continue moving forward together by keeping the paper
updated with press releases, story ideas, special business events and anything you think the business community would be interested to read about.
I’m looking forward to hearing from you and putting together another great issue that will
inform, inquire and inspire.
Marynell K. Strunk
Publisher/Editor
[email protected]
PHOTOGRAPHER
Perry Hebard
EDITORIAL ASSISTANT
Danielle Eberhardt
TABLE OF CONTENTS
COPY EDITOR
Deborah Schiffer
ARTICLES
• Angel Networks Take Business Under Their Wing . . . . . . . . . . . . . . . . . . . . . . . . . 5
• Anatomy of a Business Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PRODUCTION/DESIGN
Jason Trump
CIRCULATION
Caryn Fogel
PROFESSIONAL PROFILE
• Four Million Dollars Awarded to Grow Jobs, Business in the Area . . . . . . . . . . . . . . . . 8-9
COPYRIGHT: PBJ is protected under the federal Copyright
Act. Reproductions of any part by any means or facsimiles
without the express written permission of the publisher are
not permitted. Reprints of PBJ articles are available. For
rates and information visit http://www.pbjonline.com/reprints.html. PBJ cannot be responsible for the return of unsolicited material, manuscripts and photographs without the
inclusion of a self-addressed stamped envelope. Information
in this publication is gathered from sources considered to be
reliable, but the accuracy and completeness of the information cannot be guaranteed. Submission of information does
not guarantee inclusion. PBJ is published monthly from
offices located at Seven Bridge Road, East Stroudsburg, PA
18301. PBJ serves business owners, managers and professionals in the four county Pocono region: Carbon, Monroe,
Pike and Wayne. Subscriptions are available for $25 per
year or $50 for two years. POSTMASTER: Send address
changes to: Pocono Business Journal, RR#5 Box 5198, East
Stroudsburg, PA 18301
DEPARTMENTS
• Legislative Updates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
• Calendar of Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
• PBJ Register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Advertisers Index
ASSI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Associated Libraries of Monroe County. . . . . . . . . . . . . . . . . . . . . 11
Biondo Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
SUBSCRIPTION FORM
If you would like to guarantee receiving the Pocono Business Journal monthly,
please mail subscription form along with check made payable to:
Seven Bridge Road
RR#5 Box 5198
East Stroudsburg, PA 18301-9209
Blue Cross of Northeastern Pennsylvania. . . . . . . . . . . . . . . . . . . . . 6
Brooks Accounting Services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Community Bank & Trust Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Core People Resources. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
East Stroudsburg University of Pennsylvania. . . . . . . . . . . . . . . . . . 5
ESSA Bank & Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Eye Associates of Monroe County. . . . . . . . . . . . . . . . . . . . . . . . . . 7
Michael Baxter and Associates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
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Thank you for choosing Pocono Business Journal
Pocono Mountains Business Magazine . . . . . . . . . . . . . . . . . . . . . 10
Pocono Mountains EXPO 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Sherman Theater. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Tobyhanna Army Depot Federal Credit Union. . . . . . . . . . . . . . . . 11
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Legislative Updates
By Kevin Shivers
House-passed Tax-increase Plan Opposed
Scores of taxpayers, small business owners and business leaders explained to a Senate panel their opposition
to a $2 billion tax increase plan recently passed by the
state House.
The state Senate is posting copies on its Web site of
all written testimony from the Jan. 4 and 18 hearings,
as well as a summary of the sales tax changes in Senate
Bill 854 provided by the Department of Revenue. Video
and audio clips of the hearing also are available at http://
www.pasenategop.com/news/sb854-010405-hearing.htm.
Groups in opposition to SB 854 testified that the
costs imposed by the expansion of the sales tax will be
so great that they cannot be passed on to customers; it
will have to be absorbed by businesses. These groups
also expressed concern at the real possibility that the
imposition of the new sales tax on services would drive
consumers to other states that do not have these types
of taxes. All parties agree that property tax reform is
necessary but do not want to see an increase in the sales
taxes they pay (or are forced to charge) as the way to
reform.
Among the new business taxes and costs, SB 854:
• Raises the state Personal Income Tax to 3.29 percent
-- a 22 percent increase;
• Imposes new tax on business owners seeking advice
on managing hazardous materials;
• Imposes new tax on business owners who seek
assistance in expansion decisions;
• Imposes new tax on entrepreneurs who seek advice
to start a new business;
• Imposes new tax on management of company pension
and retirement plans;
• Provides no property tax relief for business property
owners;
• Provides loopholes that will let school districts raise
taxes without voter approval;
• Imposes over $2 billion in new sales taxes.
Industries and products to be taxed include: advertising, airline catering, amusement devices, candy and
gum, catalog advertising, clothing repair and storage,
direct-mail advertising, dry cleaning, magazines, management consulting, memberships, (like fitness clubs),
office cleaning services, personal hygiene products,
public relations, storage, shoe repair and storage, trailer
parks and camps, and vending machines
Lawmakers Expand U/C Benefits
Despite a key plank to reform the state’s costly
unemployment compensation system that is included
in the Senate and House Republican’s “Playbook for
Progress,” the state Senate and House unanimously
passed legislation to expand unemployment compensa-
EDITORIAL
tion benefits to senior citizens. Gov. Ed Rendell quickly
signed the measure into law.
House Bill 163, sponsored by Rep. Bill Adolph
(R-Delaware), amends the Pennsylvania Unemployment Compensation Law to eliminate a current offset
of a claimant’s unemployment benefits if the individual
already is collecting Social Security benefits or federal
Railroad Retirement Act pensions if the pension was
contributed to, in any amount, by the employee.
The state Senate voted to strip from the bill language
supported by state business groups that would allow
employers to deduct certain benefits (i.e. a severance,
separation and termination pay) that are offered by an
employer from weekly unemployment compensation
benefit calculations. Currently, employees can receive
both a severance package and collect unemployment
compensation benefits. This “double dipping” discourages individuals to return to the workforce and is unfair
to employers. An employee would still have the ability to apply for benefits once the severance package is
exhausted.
Pennsylvania’s unemployment compensation costs
are out of line with other states. For this reason NFIB
and state business groups support changes to the unemployment compensation system that would that would
bring fairness, ensure attachment to the workforce, and
make Pennsylvania competitive with other states. Unemployment compensation laws are intended to encourage a return to the workforce and provide temporary
financial assistance to individuals who are unemployed
through no fault of their own.
Maximum Weekly Benefits to Increase for
Eligible Out-of-work Pennsylvanians
The state Labor Department reported that some
unemployed Pennsylvanians will see larger compensation checks next month when the maximum weekly
benefits for new unemployment and workers’ compensation increases. Mandated unemployment compensation
solvency measures will not change in 2006.
Unemployment compensation payments are generally set to one-half of a worker’s former salary, up to a
weekly maximum that is determined each year. As stipulated by law, the weekly unemployment compensation
benefit maximum will increase to $497 for claimants
qualifying for benefits on and after Jan. 1, 2006. The
current amount is $478.
Workers’ compensation benefits for people injured
on the job are, generally, two-thirds of a worker’s wages
at the time of injury, up to a weekly maximum set each
year. The weekly maximum will increase to $745 per
week for workers injured on or after Jan. 1, 2006. The
2005 amount is $716.
Gov. Vetoes Job-creating Business Tax cuts
On Dec. 23, 2005 Gov. Rendell vetoed HB 515 and
called small-business owners and manufacturers who
©Copley News Service. Visit Copley News Service at www.copleynews.com.
supported the plan “more interested in their own pocketbooks and less interested in being financially responsible
and taking care of critical human service needs.”
HB 515 adjusted the existing formula for the Pennsylvania Corporate Net Income (CNI) tax to weigh more
heavily on sales, raised to $10 million the cap on net
operating loss carry-forwards, and lowered the personal
income tax to 3.05 percent.
The current CNI formula taxes businesses on three
factors: in-state payroll (20 percent of liability), instate property assets (20 percent), and in-state sales (60
percent). Under this formula, an employer’s taxes go
up each time another worker is hired or the physical
property of their business is expanded. This legislation would phase out the existing formula and base the
CNI tax solely on in-state sales. The percentage of tax
liability based on in-state sales will rise from 60 percent
to a single sales factor of 100 percent over the next four
years.
House Bill 515 also increases the cap on carry-forward net operating losses. The cap would increase to
$5 million in 2007, $7.5 million in 2008, $10 million in
2009, and $10 million or 75 percent of available losses,
whichever is greater in later years.
Kevin Shivers is the PA State Director of the National Federation of Independent Business (NFIB). Founded in 1943,
NFIB is the nation’s largest small-business advisory group,
representing the consensus views of its 600,000 members in
Washington, D.C. and all 50 state capitals. To join NFIB, call
866-314-7621. For more information on NFIB/Pennsylvania, go to www.nfib.com/PA.
NOTE TO READERS: Opinions expressed in any commentary
published in PBJ are not necessarily a reflection of the opinions of
PBJ. Likewise, PBJ will not be held responsible for any suggestion
or advice published by PBJ and PBJ assumes no liability for actions
that result based on such material. The publisher and staff welcome
your opinions on issues. Write to PBJ at the address listed on the
inside front cover or e-mail [email protected].
Letter to the Editor:
Truth Needed In Politics
Editor: My response to the pending approval of Senate Bill 854 proposing
property tax relief by enacting taxes on business services follows:
First you need an interpreter to explain political lingo. For example, the remark the state would lose should be translated to - less money to waste on projects that fail. People who are elected to govern have only one idea: to raise taxes.
How about cutting costs, like the average household does on a fixed income?
They talk raising minimum wage and then raise taxes on candy bars, chewing
gum, things minimum wage earners purchase. We have the best economy in a
wartime due to tax cuts nationally. Pennsylvania legislators want to stay 47th in
the country and devote most of their time to what to tax next. Part of the overhead tax burden is that there are too many representatives. This could be cut by
70% and streamlined by computers to a more efficient operation of government.
Small business employs the most people, unions are forcing businesses to go
overseas and have outlived their usefulness since 1968. So you see, politics need
to be translated to truth.
Chief Bear, Namtec
Greentown, Pike County
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5
NEWS
Abeloff Buick Pontiac GMC Nissan to Open New Dealership
By Ken Clark
Randy Motts, owner of the Abeloff Buick Pontiac
GMC and Nissan dealership in Stroudsburg, will open
a new dealership next year in Bartonsville on land
purchased for $875,000 from Robert and Esme Felins of
F&F Paving.
The sale of the 5.19-acre plot, brokered by Michael
Baxter and Associates Commercial Real Estate, was two
years in the making. Motts said he intends to build a
20,000 square foot Nissan dealership and service center
on the lot within the next 12 to 14 months.
“We’re still obviously in the planning stage,” he
said. “Between the property, the building, the infrastructure, the blacktop, and the engineering, it will be a
significant investment.”
Motts said when the new facility is complete, “there
will be some job opportunities,” but he added that any
estimate of how many would be “premature at this
point.”
“Our name stands for quality in this community,
so we wanted to do this right,” he said of the expansion
project. “Our market area is growing and this gives us
a wonderful opportunity to grow sensibly and have two
locations in close proximity to one another.”
The new dealership will be located at the intersection of PA Route 611 and Bartonsville Avenue.
Michael Baxter, who owns and operates the only
exclusively commercial real estate agency in the Po-
conos, was sole broker for the land sale, with agent Robert Pecoraro representing the seller and George Vlamis
representing the buyer. He said the Motts/Felins deal is
just one of many in a still-hot Pocono real estate market.
Baxter also represented the interests of both buyer and
seller of the Crossroads Travel Center, also in Bartonsville.
“Commercial development, I think, will continue to
flourish, even with interest rates going up,” says Baxter.
“Commercial activity will continue to grow because of
all the residential and population growth. That’s what
brings the retailers and all the industrial development
into the area. It follows the housing.”
Angel Networks Take Business Under Their Wings
By Kathy Ruff
Finding the capital to start or expand a business
remains one of the most difficult challenges for entrepreneurs.
After tapping into personal savings, family and
friends, and leveraging bank loans, one alternative source
of financing may be an angel. Not the kind with wings but
someone who watches over investments with the same
diligence and interest.
Angel investors (also known simply as Angels) are
wealthy individuals who provide capital for business startups or expansions, usually in exchange for an equity stake.
Angels typically make investments on an individual basis
and prefer to be anonymous, a preference that is respected
within the group and related affiliates.
In northeastern Pennsylvania, the Great Valley
Pennsylvania Angel Network provides certain early-stage
companies seeking capital with access to alternative angel
financing.
“They are informal networks of high net worth individuals who are interested in investing in early-stage companies within their region,” says Kenneth G. Okrepkie,
vice president of the Northeastern Pennsylvania Technology Institute. “They understand the risk but also see the
benefit to the region. The angels are usually a little more
flexible because they were entrepreneurs themselves and
are willing to work and provide their resources.” Angels
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A member of Pennsylvania’s
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typically infuse capital into the company, but may also
offer management and business expertise.
But getting angel funds has its price. Applicants must
present a detailed business plan that is reviewed by an
angel committee. If the concept is viable, an applicant
may present his or her plan before a group of interested
investors.
“They will be giving up a portion of their equity to access that capital, but it gives the chance to move to a speed
that would not be available without that influx of capital,”
says Okrepkie. “We have had more than $1 million in
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6
NEWS
BANKING ... cont. from page 1
“Proper planning prevents poor performance,” says
Graziadio. “You have to plan for success.”
That level of service has required creating userfriendly systems to meet customers’ demands such as
debit cards, Internet and telephone banking, and ATMs.
“We have to think broader about the definition of
personal service to satisfy the customer in the current
environment,” says Reilly.
To help satisfy that demand, the Mauch Chunk Trust
Company plans to open a new location to offer fullservice banking, investments and lending in nearby
Lehighton.
“The challenge that we see for any growing business
is getting and keeping good people and helping them
to grow and develop with your business,” says Reilly.
“You’re only as good as your least-skilled employee on
a bad day. The pace of technology changes
the way services are delivered. We have been
investing a lot of time, effort and money into
those two aspects of our business to try to do
a better job for our customers. And so far, we
have been reasonably successful.”
Another challenge banks must address as
population increases is the growing influx of
individuals who speak a different language.
“We realize that we need to communicate
with different types of customers, so we
try to hire to meet those needs,” says John
Sanders, senior vice president of Wayne
Bank, Honesdale. “It’s not an issue because
usually we’re able to hire the individuals that
can communicate with the customers. We
keep that in mind when we look to staff our
branches adequately.”
The strategy for success in the banking industry mirrors that of other industries as they work to respond to
County
Monroe
Pike
Wayne
Carbon
PA
2000 Census
Under 18 Over 65
26.8%
12.3%
26.7%
15.2%
24.0%
17.5%
22.2%
18.5%
23.8%
15.6%
Source: U.S. Census Bureau
changing demographics. What remains important in the
banking industry is meeting the changing needs of customers by leveraging technology, growth and continual
planning.
POPULATION STATISTICS
Population Change
1990-2000 4/00-7/04
44.9%
14.6%
65.2%
16.9%
19.5%
3.9%
4.1%
3.5%
1.0%
3.4%
Population
2000
138.687
46,302
47,722
58,802
12,281,054
2004
158,925
54,117
49,561
61,194
12,406,292
At present, Wayne Bank employs six
employees who speak a second language,
including Spanish, Italian and Polish. The
bank plans to open another location in the
near future in Tannersville.
Doing a better job for customers in the
Poconos involves understanding the different mindset of the newcomers who may have
been used to different types of products and
services not traditionally available in rural
communities.
“You are always looking at what are the
present needs and what are the emerging
needs for people down the road,” says Mark
Graziadio, vice president of the Honesdale
National Bank, Honesdale, Wayne County.
“On the deposit side, I think we have made
a conscious effort to have more technology
available for customers. On the lending side,
I think we have become more flexible.”
That technology includes offering Internet banking, free bill paying, direct deposit
or direct debit and VISA check cards to limit
the need to carry large amounts of cash. The
bank has been flexible in offering meetings
with mortgage specialists in the evenings and
weekends at the customer’s home or at the
Realtor’s.
“We need to be able to accommodate
people’s lifestyles,” says Graziadio. “It’s
important that they can have access to their
financial information but also be free enough
that they can go wherever they want to.”
The bank has seven offices in northeastern Pennsylvania in Wayne, Pike, Lackawanna and Susquehanna counties as well as a
mortgage center headquartered in WilkesBarre.
“We try to staff our offices with local
people because they have ties to the community,” says Graziadio. “In fact, we have
a Monroe County mortgage specialist who
works out of her home. It allows us to provide good service and also allows people to
work in the communities that they live in,
which we think is extremely important.”
“We are always looking for opportunities,” says Graziadio. “We can provide a
wider variety of services, and we think we
provide those services at a more personal
level than some of the others do.”
This costs 99¢ in the store.
And $2,128 in your company.
Smoking is an expensive and unhealthy habit. Particularly if
you own a business. That’s because employees who smoke end
up costing you $2,128—that’s for each smoker, per year.*
Blue Cross of Northeastern Pennsylvania wants to help people
kick the habit, and get healthier, through innovative smoking cessation
and wellness programs. It’s what makes Blue Cross so unique.
And what keeps your health care costs from going up in smoke.
For the best health and wellness benefits, call 570.200.6515 or
visit www.bcnepa.com. Your health is everything. To us.
*Source: American Cancer Society. Annual cost per smoker in terms of higher health care costs and lost productivity.
7
NEWS
Information Needed for
Arts in the Poconos Brochure
Stroudsburg - The Pocono Arts Council is pleased to announce that it will publish
75,000 copies of the 8th Annual “Arts in the Poconos” brochure in April, 2006. The
brochure will include descriptions of galleries and shops featuring local artists and
designer craftsmen, individual artists in all disciplines, local arts organizations, and arts
events occurring between May, 2006 and April, 2007.
To be included in the brochure, you must be a member of the Pocono
Arts Council; a local artist in the disciplines of fine art or fine craft (juried
quality), music, theatre, literature, or dance; a gallery, retail shop, establishment, or organization that showcases local fine or performing artists;
or an art event between May, 2006 and April, 2007. The final application
deadline is February 10, 2006. For further information, advertising rates,
or to receive an application form, contact the Pocono Arts Council at 570-476-4460 or
e-mail [email protected].
Stroudsburg - George Roberts Productions has been
chosen as a recipient of a major award for two of its
television programs.
“The Pocono Mountains Business Magazine” and
“Pocono Landscape Challenge” were both given the
2005 Communicator Award of Distinction. This is an international award competition that recognizes outstanding work in the communication field. There were over
three thousand entries in this year’s video competition.
The Award of Distinction is given to approximately 17%
of the entries.
Pocono Mountains Business Magazine is produced
in conjunction with the Pocono Mountains Chamber of
Commerce. The program highlights economic and business news as well as chamber events and members.
Pocono Landscape Challenge is produced in conjunction
with Chestnut Hill Nursery in Brodheadsville. The halfhour program takes on landscaping challenges that are
common to the Pocono Mountains.
Both shows air three times a week on Blue Ridge
Cable TV 13.
George Roberts Productions produces TV programs,
infomercials and commercials.
Eye Associates
of Monroe County
Corneal Refractive Therapy – Vision correction without surgery!
InfantSee™
participant
Glaucoma Management Center
The most advanced glaucoma center in the area.
Eye examinations
Glasses, Contact lenses
OptoMap* retinal exam
Treatment of eye disease
Emergency services
* The only “no-drops” dilated eye exam in the Poconos!
Caring ◆ Integrity ◆ Experience
*Most major insurance accepted*
Appointments:
208 Main St., Stroudsburg
476-1114
After Hours Emergency: 598-5042
www.eyeassociatesonline.net
Photo Credit: Submitted by George Roberts Productions
Local TV Shows Win International Awards
The 2005 Communicator
Award of Distinction was
awarded to George Roberts
Productions for two regional television shows.
8
Four Million Dollars Awarded to Grow Jobs,
Business in the Region
Together with regional economic development organizations, the Center for Research and Economic Development (CFRED) at East Stroudsburg University is working to strengthen the regional economy with high-tech
job opportunities, workforce development, and applied
research. The expansion of ESU’s Business Accelerator and its Computer Research Center is supported by a
$2.5 million Redevelopment Assistance Capital Program
(RACP) funded through the PA Dept. of Commerce and
Economic Development; federal grants for $1.2 million
from the Economic Development Administration (EDA);
and $75,000 from the Appalachian Regional Commission (ARC). This project includes the construction of
the Computer Security Research Center which will house
Business Accelerator space, R&D facilities, anchor tenant
space and offices in the borough of East Stroudsburg.
Established under the leadership of ESU President
Dr. Robert J. Dillman, CFRED was incorporated in 1999.
“As an educational institution it is our
responsibility to support economic development and provide opportunities for research
and training,” says Dillman. “The Center is
a model partnership uniting education and
industry to play a responsible role in economic development.”
A private, non-profit 501(c)(3) corporation, the Center
is the principal economic development and research
extension of the University responsible for the Business
Accelerator, workforce training, outreach programs, and
research grants.
CFRED is perhaps best known for its Business Accelerator that has led to the creation of seven high-tech
companies and over 65 new jobs. The Accelerator has
experienced tremendous growth since officially opening
in December 2001, and now includes three locations: 701
Main Street, Stroudsburg; 66 Analomink Street in East
Stroudsburg; and 434 Normal Street in East Stroudsburg.
It has grown to a physical size of over 11,700 square feet.
The Business Accelerator program expedites the successful development of start-up and fledgling companies
by providing entrepreneurs with an array of targeted resources and support services. Critical to the definition of
an accelerator is the provision of management guidance,
technical assistance and consulting tailored to young
growing companies. ESU’s Accelerator has provided
clients access to appropriate, reduced-cost rental space
and flexible leases, shared basic business services and
equipment, technology support services, and assistance in
obtaining the financing necessary for company growth.
The program is unique in many other ways. As an
affiliate of the University City Science Center’s Port of
Technology in Philadelphia, extensive resources and
networking opportunities are provided to the entrepreneurial businesses selected to participate in the Accelerator. The University City Science Center is in fact one of
the world’s leading research parks. The Business Accelerator is also a member of the Ben Franklin Technology
Partners of Northeastern Pennsylvania Business Incubator
Photo Credit: Submitted by ESU
By Ann Gerfelder
Network, known for starting new companies, creating and
retaining jobs, and developing new products. Businesses
selected to participate must have a direct connection to
the University and its academic mission. That connection
may include internships, student and faculty research, and
graduate assistantships.
Chief Operating Officer Mary Frances Postupack
spearheads the efforts of the center.
Rendering of the ESU Computer Security Research Center
“Our goals are ambitious,” she remarks,
“and we strongly believe that the Center
will continue to bring new businesses to the
region, help train our workforce and bolster
the economy. It also adds an exciting entrepreneurial spirit to the area.”
Postupack works with an enthusiastic and diverse 11member board of directors led by board president Frank
Rushen, former CEO of Instrument Specialties.
Currently, there are seven high-tech companies
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9
Dr. Robert Marmelstein of Archangel Security
within the Business Accelerator:
Backbone Security, a nationally recognized computer security company; Right Reason Technologies,
a Web-based training solutions company; Nadig Staircases, Inc., a manufacturing company from Germany;
TMS, Inc., maker of proximity alarm devices using
RFID technology; SDR Pharmaceuticals, Inc., providing
drug development for inoperable tumors; IP Protector, a
Web-based training solutions company; and Archangel
Security, smart-floor detection software for the identification of potential terrorist attacks.
Each of these companies has achieved significant
success in their short lives. Perhaps most notable is
Backbone Security, headed by CEO Glenn Watt. Backbone Security is one of only seven companies in the
nation approved by the National Security Agency (NSA)
to provide security assessments and Backbone’s training
is certified by the NSA. In addition, Backbone was called
in by the FBI to provide secure technical support within
hours of the September 11th attacks. Their product,
Ribcage®, was used in that crisis and later won the Medical Security System Award as a HIPAA-compliant secure
solution for transferring patient records over the Internet.
Right Reason Technologies provides quality training
services for occupational safety, compliance with the
Americans with Disabilities Act, and other topics. The
company has secured a contract with Pocono Mountain
School District, one of the fastest-growing school districts
in the Commonwealth, to educate employees and ensure
compliance on sexual harassment policies. In cooperation with CFRED, Right Reason Technologies was
awarded more than $495,000 in federal funds, earmarked
to develop a “Virtual Education Academy” as an alternative to cyberschools.
ESU officials anticipate that the development of the
new Computer Security Research Center and the Business Accelerator expansion will allow more flexible and
robust supportive services including access to formal and
informal entrepreneurial networks, investment opportunities, and turnkey office/laboratory space. The new
Computer Security Research Center and the Business Accelerator will be located within both the Pocono Mountains Keystone Innovation Zone (KIZ) and Historically
Underutilized Business Zone (HUB Zone).
Dr. Dillman reports that the success of the existing
Business Accelerator has exceeded expectations. “The
Award Winners from
ESU Business Accelerator
(l – r): N. Paul Schembari, Ph.D. - Director of the ESU Computer Security Program and Michael P. Moynihan III - ESU
student from IP Protector. They have developed, along with
Brian Pedone, ESU alumnus (not pictured), proprietary software that provides a comprehensive, accurate and fast method
for determining the extent of plagiarism in a document
challenge of the current expansion plan,” Dillman says,
“will be to maintain the momentum and to support business growth with state-of-the-art infrastructure, resources,
and support services so that Accelerator companies can
reach their full potential and meet the demands of a continually changing economy.”
Other CFRED efforts in applied research, grants, and
workforce training are also notable:
• ESU was selected to participate in a Computer Security Commercialization grant funded by the PA Department of Community and Economic Development.
The grant supports student teams in the development
of new computer security businesses. The ESU team
projects include IP Protector, which received $30,000
and Archangel Security, $20,000.
• CFRED received a $1 million federal appropriation
for a multi-university, cross-disciplinary program to
address computer forensic issues that are vital to law
enforcement at all levels of government. ESU will
collaborate with Drexel University and Rider University.
• ESU received a $300,000 Workforce Leadership
2+2+2 grant from the PA Department of Community
and Economic Development to create a Computer
Security curriculum in collaboration with Backbone
Security, Northampton Community College, and
Monroe County Area Vocational Technical School.
This program received the 2004 Governor’s Achievement Award and has received additional funding to
expand into school districts in Monroe County and
the Delaware Valley region.
CFRED continues to earn recognition throughout the
Commonwealth for its efforts in addressing business and
economic growth in the region. For more information,
call the Center for Research and Economic Development
at 570-422-7920.
The Northeastern Pennsylvania Alliance (NEPA) announces that the Second Annual Regional Entrepreneur of
the Year Award winner is Right Reason Technologies. The
firm is the second ESU Business Accelerator company to
win the notable award. Backbone Security was the recipient last year.
The winner was announced at NEPA’s 4th Annual Regional Economic Forum held on January 19th. The award
sponsor, First Liberty Bank & Trust presented Right Reason Technologies with a lighted and etched crystal award.
Jennings and Zale, LLC also presented the winner with a
prize certificate for redemption of business and legal consulting services valued at over $5,000, which may include
patent/trademark filing
Right Reason Technologies is a technology-driven
training solutions company. Their proprietary content
creation software, RightCourse, coupled with their Learning Management System, RightTrack, allow the user
to effortlessly and seamlessly create their own courses,
deliver them to the right audience and track the progress
and results. The flash-based custom content creation
services expand upon RightCourse to develop highly
customized, interactive and engaging content. They are a
team of training and education professionals dedicated to
improving the way organizations conduct their training
evolutions.
(l – r): Pete Schmitt, Dave Mehrtens and Tom Schmitt from
Right Reason Technologies
Glenn Watt, president and CEO of Backbone Security
Tobias Nadig from Nadig Staircase
(l – r): Tom Schmitt, Dave Mehrtens and Pete Schmitt
from Right Reason Technologies develop custom training
programs and online educational tools.
The Regional Entrepreneur of the Year Award
Program was created through the efforts of the Entrepreneurial Network Action Team. It is designed to recognize
an outstanding entrepreneur in a successful business from
within NEPA’s seven county region of Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne.
10
NEWS
Anatomy of a Business Plan
By Ann Gerfelder
Business plans are documents used by companies,
both large and small, that outline the process of attaining
success. They are also used to acquire bank financing
and to attract venture investments.
If you are developing a business plan for bank loan
purposes, area lenders advise that you should expect to
provide details on personal net worth, collateral, and
your business’ financial position. If you’re looking for
venture investment, Scranton’s Small Business Administration Office recommends that you be prepared to
provide significant market data, competitive advantage,
and management track records. Investors will also want
to see strong and comprehensive financial projections.
A quality business plan needn’t be a novel or a
complex publication. According to a variety of experts
in the field, a good plan is simple, specific, realistic, and
complete. Completing the business plan forces you to
examine all decisions of management, marketing, personnel, and finance in an objective and organized way.
Organizations including the Pennsylvania Chamber of Commerce, Small Business Administration, and
Department of Community and Economic Development
consistently recommend the following elements be
included when developing a business plan:
Table of Contents
Mission Statement – Why does your company exist?
Often brief and general in nature, a mission statement
serves as a foundation for management decision-making.
Executive Summary – A brief overview that allows
readers to capture the business concept and direction.
The summary includes statements on the company history, goals, product description, target market, market
placement, management team, and the financial issues of
insurance and funding. While it may be one of the first
elements of the business plan, it is recommended that it
be the last element written; after all components have
been developed in detail. The executive summary of
your business plan can become an important promotion
piece for your company.
Business Description – This section includes
information regarding the business’ industry and the
regulatory and marketing environment. It also includes
the marketing plan which should incorporate sales goals,
competitive position, market demographics, packaging
and promotion material, and policies on customer service. The business description also contains information
regarding production, operations, insurance policies,
and a human resources plan, from key managers to the
recruitment of other personnel.
Financial Plan – Numerous books and software
packages are available with formatted worksheets to
produce the documents you need for a financial plan.
The exhibits include:
• Start-up costs (one-time expenses such as equipment,
deposits, fees, etc.)
• Monthly expenses (ongoing expenses for leases,
insurance, utilities, etc.)
• Balance sheets (opening day and projected for three
years)
• Projected cash flow (monthly for the first year, quarterly for year two and three)
• Breakeven analysis
• Profit and loss forecast (quarterly for three years)
• Personal financial statements of all owners
Attachments/Supporting Documents – Additional
information you may want to include in your business
plan and owner/manager résumés; contracts, leases, and
permitting documents; letters of support; product pictures; market research; license agreements; and invoices/
estimates for facility or equipment.
The best business plan written is a wasted document if nobody follows it. A business plan should be a
fluid entity, calling for ongoing activity that will guide
the daily operation of your business -- your custommade guide to success!
Northeast PA Resources for Business Development
PA Chamber of Business and Industry 800-225-7224 | www.pachamber.org
PA Econonomic Development Association (PEDA)
717-441-6047 | www.peda.org
Small Business Advocate
717-783-2525
Women’s Business Advocate
800-280-3801 | www.inventpa.com
PA Open for Business
800-280-3801 | www.paopen4business.state.pa.us
PA Dept. of Comm. & Econ. Dev.
800-280-3801
www.commerce.gov/states/pennsylvania.html
Small Business Development Centers | www.pasbdc.org
Lehigh, Northampton | 610-758-3980
Lackawanna, Monroe, Pike, Wayne | 570-941-7588
Carbon, Luzerne, Schuylkill | 570-408-4340
Area Loan Organization (AOL)
Northeastern PA Alliance | 570-655-5581
Serves Carbon, Lackawanna, Luzerne, Monroe, Pike,
Schuylkill and Wayne
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11
NEWS
Employee Ideas Save Depot Money
Where Do People Work?
Tobyhanna Army Depot - Employee suggestions
Pittston - According to the Office of Personnel Man-
saved $12 million in fiscal year 2005, says Sharon
Smith, chief of the Depot’s Research and Analysis Division, Productivity Improvement and Innovation Directorate. One suggestion alone saved nearly $1 million.
Suggestions are broken down into two programs—
Army Ideas for Excellence (AIEP) and Value Engineering (VE).
“We average 180 AIEP suggestions per year and 10
to 15 VE suggestions per year,” Smith says. “Some of
the AIEPs turn into Value Engineering suggestions due
to the potential for significant savings.”
Robert Reese, the Depot’s former Suggestion
Awards Program manager, explains that occurs when
suggestion reviewers see potential for a more significant
solution.
“The suggestion should not only outline a problem,
but also a solution,” he says. “Sometimes the solution,
while adequate, can be expanded to include engineering
changes and that is when it becomes a Value Engineering suggestion.”
The largest suggestion this year saved $888,000
and was a combination of several suggestions involving electro optics and night vision components for the
M1A1 Abrams tank and the Bradley Fighting Vehicle.
“Christopher Davis, Calvin Hubbard, Brent Massey
and Patrick Noel made six suggestions to improve repair
processes for the vehicles’ thermal sights,” Smith said.
Arthur Goble, an electronics mechanic leader, found
a less expensive part for the AN/TAS-4 TOW missile
night sight’s eye piece, which will save $1.2 million
over three years.
“He noticed that if the diode mount was damaged,
the entire reticle assembly would have to be replaced,”
Smith said. “Replacing the diode mount eliminated
having to replace the entire assembly. The first year’s
savings alone will be $414,000.”
Goble also developed a repair process so the part
could be modified to fit the mount.
“Modifications must be approved by the customer,”
notes Reese. “Employees can make a suggestion, but
we can’t just go ahead with changes. In this case,
Arthur’s suggestion was approved by the Army Aviation
and Missile Command.”
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agement of the United States Government, the New
York/Northern New Jersey/Long Island/NY-NJ-CT-PA
Combined Statistical Area (Greater New York City Metropolitan Area) consists of 12 counties in New York, 14
counties in New Jersey, four counties in Connecticut and
one county in Pennsylvania. Although Pike County, PA
is located in both regions, OPM includes Pike in Northeastern Pennsylvania because the study’s objective is to
look at how many people travel to and from Northeastern Pennsylvania for employment. The data is derived
from responses to the Year 2000 Census question, “At
what location did this person work last week (the week
before April 1, 2000)?”
The number of people who travel from the seven
county Northeastern Pennsylvania region (consisting of
Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill
and Wayne) to the Greater New York City Metropolitan
Area is 24,633. Monroe County, with 13,148 residents
and Pike County, with 8,820 residents have the most
people who travel to the Greater New York City Metropolitan Area. The combined total of residents for the
other five counties is 2,665, which is approximately 30
percent of the Pike County total. Of the Monroe County
residents, 4,378 work in New York State, 24 work in
Connecticut and 8,746 work in New Jersey. Of the Pike
County residents, 4,098 work in New York State, 21
work in Connecticut and 4,701 work in New Jersey.
For additional information contact Steven N. Zaricki, Research and Information Manager, Northeastern
Pennsylvania Alliance at 570-655-5581, ext. 258 or
[email protected].
East Stroudsburg Branch
4 Progress Street
East Stroudsburg, PA, 18301-9066
If your business is not currently affiliated with the
Tobyhanna Army Depot Federal Credit Union
you are missing out on the following benefits:
FREE Online Banking
24/7 Services
Investment Services
Mortgage Services
Employee Presentation
Opportunities
¾ Tax/Holiday/Vacation
Clubs
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Request your Membership Packet today!
Call Jamie Olivieri, Business Development Specialist
for Monroe County, at 570-421-4261 Ext. 314
or fill out an application online at www.tobyhannafcu.org/segs
12
CALENDAR OF EVENTS
February 1
PA CareerLink, Tannersville, O’Net Computerized Assessments,
9:00 -10:00 a.m.; and Career Assessment Review, 1:00 – 3:00 p.m.
by appointment only. Call (570) 620-2850, or visit www.pacareerlink.state.pa.us.
February 2
Pike County Chamber of Commerce, Milford Business Council,
Dimmick Inn, 8:00 a.m. Call (570) 296-8700.
February 2
PA CareerLink, Tannersville, Why Should I Hire You?, 9:00
– 10:30 a.m.; and Microsoft Word Basics, 2:00 -3:30 p.m. Call
(570) 620-2850, or visit www.pacareerlink.state.pa.us.
February 2
FEBRUARY
February 11
Get to Know Your Computer, 9:00 – 11:00 a.m., Northampton
Community College, The Center for Business & Industry at
Northampton Community College, Monroe Campus in Tannersville. Fee: $117 includes all materials and textbook. Contact Jennifer Kszak at (610) 861-5331 or visit www.northampton.edu. To
register over the telephone using a credit card call (877) 543-0998.
February 13
Pocono Mountains Chamber of Commerce, Business Card Exchange, 5:00 – 7:00 p.m., offices of Herbert, Rowland & Grubic,
Bartonsville. Hot and cold hors d’oeuvres and networking.
Advance registration $10 Chamber members: $20 non members.
At the door, $15 Chamber members, $25 non-members. Call (570)
421-4433.
BNI (Business Network International), Bartonsville, 7:00 – 8:30
a.m. Howard Johnson, Rt. 611 & I-80 Exit 302B, Bartonsville.
Contact Karen Sherrill, (570) 895-4242.
February 13
February 3
February 13 through April 24
BNI (Business Network International), Stroudsburg Chapter, 7:00
– 8:30 a.m., Breakfast Fee: $9.00. Shawnee Inn and Golf Resort,
Shawnee-on-Delaware. Contact Ed Kmetz, (570) 992-2992 or visit
www.bninjpa.com.
February 4
Get to Know Your Computer 9:00 – 11:00 a.m., Northampton
February 6, 13 and 20
Adobe Illustrator CS, 9:00 a.m. – 4:00 p.m., fee $414. Fees
include program materials/workbooks and lunch. The University
of Scranton, Center for Continuing Education, (570) 941-7582, or
visit www.scranton.edu/cce.
February 7
Job Search Attitude & Barriers Assessment, PA CareerLink, Tannersville, 11:00 a.m. -12:00 noon. Call (570) 620-2850, or visit
www.pacareerlink.state.pa.us.
February 8
Career Exploration & Assessment, PA CareerLink, Tannersville,
9:00 a.m. – 3:30 p.m. Call (570) 620-2850, or visit
February 9
Computer Basics, PA CareerLink, Tannersville, 2:00 -3:30 p.m.
Call (570) 620-2850, or visit www.pacareerlink.state.pa.us.
Real Estate Salesperson, Monday and Wednesday evenings,
6:00 – 9:00 p.m., fee $385. Fees include program materials and
workbooks. The University of Scranton, Center for Continuing
Education, (570) 941-7582, or visit www.scranton.edu/cce.
February 14
Job Applications, PA CareerLink, Tannersville, 11:00 a.m. – 12:00
noon. Call (570) 620-2850, or visit www.pacareerlink.state.pa.us.
February 14
Pocono Mountains Chamber of Commerce, Women in Business, 12:00 noon. Best Western Pocono Inn, Stroudsburg. Topic
“Monroe 2020.” Cost $12 Chamber members in advance; $15
non-members and walk-ins. Call (570) 421-4433.
February 15
Résumé and Interview seminars, PA CareerLink, Tannersville.
Resumes & Cover Letter, 9:00 -10:30 a.m.; and Interview Basics,
1:00 -2:30 p.m.. Call (570) 620-2850, or visit www.pacareerlink.
state.pa.us.
February 16
February 16
E-Résumés, PA CareerLink, Tannersville, 9:00 -10:30 a.m. Call
(570) 620-2850, or call www.pacareerlink.state.pa.us.
February 17
February 9
Salary Negotiation, PA CareerLink, Tannersville, 9:00 -10:30 a.m.
Pocono Mountains Chamber of Commerce, Monthly Breakfast,
7:30 a.m., Best Western Pocono Inn, Stroudsburg. Sponsor: Fraser
Advanced Information Systems. Special Program: Pocono Family
YMCA Advance registration $8 Chamber members, $12 nonmembers. At the door, $10 Chamber members, $16 non-members.
Call (570) 421-4433.
February 10
February 17
www.bninjpa.com.
February 10
Résumé Critique, PA CareerLink, Tannersville, 9:00 a.m. – 12:00
noon, by appointment only. Call (570) 620-2850, or visit www.
pacareerlink.state.pa.us.
www.bninjpa.com.
February 18
Get to Know Your Computer, 9:00 -11:00 a.m., Northampton
Coming Next Month ... March 2006
February 21
Job Search Attitude & Barriers Assessment, PA CareerLink, Tannersville, 11:00 a.m. -12:00 noon. Call (570) 620-2850, or visit
February 21
Lehighton Area Carbon Council , Loss Prevention Seminar, 5:30
p.m., 10 North Third Street, Borough Annex, Lehighton. Special
Guest Speaker: Joan Campbell, Account Executive. RSVP by
Feb. 17 to (610) 377-2191 or e-mail [email protected].
February 21 – February 26
Psychic and business consultant Bill Burns is available for business appointments at the Hampton Inn, 114 South 8th Street,
Stroudsburg. Call (570) 424-0400 for more information, or visit
www.billburns.org.
February 22
Career Exploration & Assessment, PA CareerLink, Tannersville,
9:00 a.m. – 3:30 p.m. Call (570) 620-2850, or visit www.pacareerlink.state.pa.us.
February 23
Lecture by psychic and business consultant Bill Burns at Sundari
Yoga and Wellness Center, 1 Crystal Street, East Stroudsburg. Call
(570) 476-4226 or visit www.billburns.org.
February 23
a.m. Howard Johnson, Rt. 611 and I-80 Exit 302B, Bartonsville.
February 23
Michael Baxter & Associates, Free Real Estate Investment Seminar, 7:00 p.m., Quality Inn Hotel, 1220 W. Main St., Stroudsburg.
The seminar is meant to educate the community in making wise
real estate investment decisions. Nancy Hurley, (570) 620-1900,
[email protected].
February 23
Mock Interviews, PA CareerLink, Tannersville, 9:00 – 10:30 a.m.
Must have attended the Interview Basics Seminar. Call (570) 6202850, or visit www.pacareerlink.state.pa.us.
February 24
Résumé Critique, PA CareerLink, Tannersville, 9:00 a.m. – 12:00
noon, by appointment only. Call (570) 620-2850, or visit www.
pacareerlink.state.pa.us.
February 24
www.bninjpa.com
February 25
Get to Know Your Computer, 9:00 – 11:00 a.m., Northampton
February 27
Computer Basics, PA CareerLink, Tannersville, 2:00 – 3:30 p.m.
February 28
Job Applications, PA CareerLink, Tannersville, 11:00 – 12:00
noon. Call (570) 620-2850, or visit www.pacareerlink.state.pa.us.
POCONO
www.pbjonline.com
Construction & Real Estate
• The pros and cons of enforcing building codes in Pennsylvania
• Status report on Act 167
• Local realtors comment on the future of Pocono real estate
• Professional Profile: Local Company builds homes and a good reputation
www.pbjonline.com
13
Making Wise Real
Estate Investments
Tannersville - Dan Perich, Commercial Specialist
from Michael Baxter & Associates Commercial Real
Estate, will be holding a free Real Estate Investment
Seminar. The event will take place on Thursday,
February 23, at 7:00 p.m. at the Quality Inn Hotel,
1220 W. Main Street in Stroudsburg. The seminar
will educate the community in making wise real estate
investment decisions.
Topics discussed will include:
- Identifying Investment/Income-Producing
Properties
- Review of Commonly Used Rules of Thumb and
Why They Don’t Work
- Explanation of Evaluation Techniques Used by
Experts / Why They Work
- How to Keep Track of the Market and Current
Market Conditions
- Getting Started Whether Buying or Selling
- Q&A and Networking Opportunity with
Specialists
Perich is the recipient of the esteemed CCIM designation, which is referred to as “the Ph.D. of Commercial Real Estate.” He has just begun his ninth year
selling Commercial Real Estate. For more information
contact Nancy Hurley at (570) 620-1900.
Psychic to Help
Businesses Grow
Stroudsburg - Bill Burns,
psychic, business and personal consultant, metaphysician and personal empowerment speaker will be visiting
Stroudsburg from February
21 to 26, 2006.
Burns has worked in the
field of business consulting
using his psychic intuition
for over 30 years. He works
with all size companies
to understand their goals,
strengths, and challenges,
Bill Burns has worked in the field
and makes recommendatiof businesses consulting using his
ons specific to each company. psychic intuition for over 30 years.
Using his metaphysical insight, Burns recognizes problems and abilities, provides
tools, and offers suggestions to help businesses succeed.
Burns also uses his expertise for career growth or enhancing professional life by identifying clients’ talents, then
provides tools for further growth and development.
He will be at the Hampton Inn in Stroudsburg from
February 21 – 26 and will be available to schedule appointments. He will also lecture on February 23 at the Sundari
Yoga and Wellness Center at One Crystal Street, East
Stroudsburg, offering helpful insight, spot readings and
questions. Cost for the lecture is $20.
For more information check out www.billburns.org or
call (323) 654-7714.
Photo Credit: Submitted by WEDCO
Palmyra Business Park Attracts
Ideal Steel Distribution Facility
(l – r):Jack Brancato, President and Paul Brancato Vice President of
Ideal Steel Supply Corp.
By Marynell Strunk
The Ideal Steel Supply Corporation, headquartered
in New York City, purchased 18.6 acres of land owned
by the Lackawaxen-Honesdale Shippers Association,
Inc. Ideal Steel intends to lease-purchase a 200,000
square foot facility that will be built by the LackawaxenHonesdale Shippers Association.
Ideal Steel is a steel distribution company that
imports already manufactured steel products by railcar,
fabricates it into other products, then distributes the
products directly to contractors, consumers and other
distribution facilities owned by the company.
“Ideal Steel has experienced tremendous growth
over the past few years and found it necessary to add a
hub distribution point that fulfills the large volume of
orders from the New York City locations,” says Paul
Brancato, company vice president .
The new site in Palmyra Township will be a transloading and distribution operation. It is estimated that
this project will create 65 jobs (each with an average
salary of $38,000) over a three-year period. Based on
figures from an economic impact study done by North-
Photo Credit: Submitted by The Bill Burns Organization
NEWS
eastern Pennsylvania Alliance
(NEPA Alliance), another
43 jobs will result indirectly
in Wayne County, possibly
adding over $11.5 million
annually to Wayne County’s
economy. An additional 11
jobs are estimated to be created in Pike County as well.
There will be no discharges or emission and no other
foreseeable environmental
issues with this project. Ideal
Steel anticipates an immediate demand for four to six
truckloads per day leaving the
Palmyra facility for the NYC
metropolitan area, and three to
four railcars per week.
Positive impact will also
be felt by the Stourbridge
Line Rail Excursion. For the past three years, the Wayne
County Chamber of Commerce paid a user fee to keep
the railroad operational and tourist excursions running. This expense has been met by relying on state
and federal grants. Having Ideal Steel as a significant
freight customer, this huge expense is defrayed for the
Wayne County Chamber of Commerce. Without the rail
excursions on the Stourbridge Line, the Pocono Mountains Vacation Bureau estimates a loss of $750,000 in
economic impact.
“This project is absolutely critical for the continuance of the Stourbridge Line Rail Excursion, and the
positive effect it has had on Wayne and Pike’s tourism
industry. The impact of the project reaches well beyond
one business in that the railroad is a critical component
for economic growth,” says Robert Suhosky, executive
director of the Wayne Economic Development Corporation (WEDCO).
WEDCO’s role in this project will be as a liaison between Ideal Steel and local and state resources
by assisting in business finance programs. The location, known as the Palmyra Business Park, is part of a
Keystone Opportunity Expansion Zone (KOEZ), which
provides tax incentives to encourage development.
Contact PBJ
for
Introductory
Ad Rates.
www.pbjonline.com
e-mail: [email protected]
POCONO
www.pbjonline.com
Celebrating Its
19th Year!
Make Plans NOW
To Be Part Of
The Region’s
Largest Business
& Community
EXPO!
• Build awareness of your
business organization
• Showcase your newest
products/services
• Meet potential customers
face-to-face
• Enhance your business image
• Network business to business
March 15 & 16
Koehler Fieldhouse
East Stroudsburg
University of Pa.
Reserve Your Space
TODAY!
Call Miriam
(570) 421-4433
14
NEWS
Save Our Planet Awards
HR Tip of the Month
Hiring for Success
How do you succeed with a new employee,
enhance your product or service, and increase your
bottom line?
Photo Credit: Perry Hebard
1.Draft a job specification prioritizing how the
right employee will perform.
2.Probe candidates for past performance, skills
and attitude.
3.Listen carefully--don’t just wish for a match.
4.Hire the right employee who fits into your team.
Tom Hackett
COO of Core People Resources, LLC
The Annual Women in Business – Save Our Planet Awards was held at the Best Western in Stroudsburg on January 10. Award winners are pictured above, (l – r); Charles Cahn, Individual Category; Monica Restrepo representing, Shawnee Inn and Golf Resort,
Travel and Tourism Category; Mathilda Sheptak, Mark Lichty Founders Award; Dave Johnson representing Pride in Chestnuthill
Committee, Volunteer Category; and Eileen Holder representing Rotary Club of the Stroudsburgs, Award of Merit in the Volunteer
Category. Not pictured are Delaware River Joint Toll Bridge Commission, Government Category and Pocono Mountains Vacation
Bureau, Inc., Non-profit Category.
ANGELS ... cont. from page 5
investment in the past 18 months from angels in northeastern Pennsylvania. That’s significant for the region.”
Statewide, close to $12 million was invested among
all angel networks in Pennsylvania last year.
“There are two sides to the equation: angel investors
who have money to invest and growing entrepreneurs who
have businesses which need capital to grow,” says Valerie
Gaydos, president of the Pennsylvania Angel Network
(PAN), a trade association for angel groups based in Harrisburg. “What we try to do is connect all these 19 angel
investor groups together so they can support each other in
making investment decisions or through their expertise.”
PAN offers angel members access to an online assortment of projects and resources to educate investors and
help match investors with projects.
“We want to help deploy more capital into Pennsylvania,” says Gaydos. The group assists angels through
sharing expertise, improving due diligence and encouraging collaboration among the local angel groups.
Such angel groups in northeastern and eastern Pennsylvania focus primarily on technology-based companies,
although funding could be available for any type of business.
Angel investments range from $25,000 up to $2 million, with the average investment between $200,000 and
$500,000.
“The main focus for the Great Valley Angel investors
that I deal with are traditionally technology-based companies that have a product or service that clearly differentiates themselves from competitors, has significant upside
opportunities as far as revenue generation and growth of
the company and can in fact allow a return to the investors,” says Gerry Ephault, regional manager for the Ben
Franklin Technology Partners of Northeastern Pennsylvania. “Angels are looking for a larger return on their investment than you would through other mediums because
they are putting in risk funding. When you are entering
into an arrangement with an angel investment group, you
are entering into a very formal relationship. You typically
give up equity and share ownership.” Angels, he adds, are
good partners but they invest for a return and they expect
performance.
Most angel investors look for investments close to
home, motivated altruistically to enhance the long-term
regional economic development while sometimes even
offering hands-on management assistance.
The Pocono Mountains expects to launch its own local angel group this spring.
“The main benefit of going with angels is sustainability,” says Mary Frances Postupack, chief operating officer
of East Stroudsburg University’s Center for Research and
Economic Development. “Angel investors get involved
in the business. They could be the determining factor on
whether a company makes it or not because in some cases
the angels will come in and take a management position
and join the management team.”
For more information on becoming an investor or
seeking funding through the Pocono Mountains Angel
Network, call East Stroudsburg University’s Center for
Research and Economic Development at 570-422-7920.
For more information on the Pennsylvania Angel Network, becoming an angel investor, or contacting local
angel groups, visit www.paangelnetwork.com.
According to Rule 501(a) of Regulation
D of the U.S. Securities and Exchange
Commission, an accredited investor
includes any natural person with a net
worth over $1 million or with an individual income in excess of $200,000.
Time to take a closer look at your financial picture?
both now and in the future.
Securities offered through Linsco/Private Ledger. Member NASD/SIPC*
May lose value. Not FDIC Insured. No Bank Guarantee. Not
a Deposit. Not Insured by any Federal Government Agency.
15
PBJ REGISTER
NEW CORPORATIONS
The Corporation Bureau at The Commonwealth
of Pennsylvania, Department of State has
informed the Pocono Business Journal that it is
in the process of revising the database access for
this information. Therefore New Incorporation
listings will not be available until further notice.
FICTITIOUS NAMES
The Corporation Bureau at The Commonwealth
of Pennsylvania, Department of State has
informed the Pocono Business Journal that it is
in the process of revising the database access for
this information. Therefore New Incorporation
listings will not be available until further notice.
DEEDS
(December 2005 - Over $200,000)
Carbon County
Joahn Cunningham to Agave, $260,000
Cynthiad Neff to Maryelle Mahoning, $246,000
John Campbell to Roberto Buell, $250,000
Edwin Eshleman to Louis Pugh, $380,000
Brian Sullivan to Todd Payer, $221,000
Falcon Cret Homes to Johnny Powell, $249,000
Kenneth Storck to Brad Newhart, $210,000
David Dellacroce to Thomas Pizza, $286,000
Randymar Development to Eagle Properties,
$1,625,000
Monroe County
Cherokee Valley Homes to Maria Gino,
$215,000 Paul Swingle to Joseph Nolasco,
$240,000, Joseph O’Brien to Darlene Merrill
$231,000, Joseph Giordano to Douglas Tarta
$300,000, David Dempsey to John Duaime
$240,000, William Wesley to Kenneth Crowder
$299,000, Michael Kaczenski to Samuel
Guittare $205,000, S&W Partners to Daniel
Wilusz $307,000, Robert Stanek to Thomas
Reavy $650,000, Timothy Coffey to Esther
Nercado $205,000, Penn Pro Builders Sean
Ahearn $255,000, Gallerie, Gary, to Traslavina,
Julio, $370.000, Oak St. Construction to Yu,
Kai, $211,000, Toll Pa III to Manley, Kenneth,
$344,000, Zimany, Roger to Cleffi, $400,000,
Anderson, Jerry to Thompson,Robert, $283,000,
Greenpoint Funding to Banque Portfolio,
$225,000, Gartner Homes to Thompson, Robbin,
$248,000, Federal Mortgagee to Fette, Herman, $217,,000, Oak Street Inc. to Mentonis,
Mark, $226,000 Irwin, Russell to Lawing,
Alvin, $235,000, Kal-Tac to Hothouse, Jay,
$204,000, LTS to Clarke, Henry, $374,000
Hoffmann, Maria to Khamis, Sami, $266,000,
Edwards, Jeffrey to Prestwich,Paul, $246,000,
Monte, John to Miller, Leonard, $245,000, Blue
Ridge Homes to Brown, Russell, $425,,000,
Heylinger, John to Echezona-Johnson, Chinazo
$311,000, Augenstein, Renate Top Pantheon
Investments, $425,000, Katz, Edward to C&C
Holdings, $500,000, Michael Blewitt to Point
Steven,. $450,000, Baier,Lyman to Santamarina,
Gil, $249,000, Garcia, Findencio to Rodricuez,
Gladys, $225,000, Schmidt, Wm. , to Lemanski,
Alfred, $315,000, Smith, Ann to Koszalka, Jonathan, $250,000, Erech, Saul to Ruffin, barbara,
$264,000 Cavalieri, Nicholas to Koziel, Evelyn,
$235,000 Mastrocola , James to Swiftwater auto
parts, $275,000 LaPlaca , Gary to Fantozzi, Joseph, $307,000 Bohatiuk, Alexander to Sheflin,
Adam, $270,,000 Abrams, Edward, Osgoodby
, Marc, $220,000 Kal-Tac to Arjune, Parbattie, $202,000 Nation,Peter to Rhock, Lucille,
$325,000 Newman, Douglas to Caruso, Solimar,
$269,000 Citifinancial to Ashfaq, $232,000
Mendes, Phyllis to Pinos Guillermo, $218,000
McGurl, Thomas to Litinov, Vladmir, $240,000
Sokjolof, Leonard to Maio, Robert, $ $258,000
Moran,Martin to Jensen, Richard, $210,000
Bewers, Helen to Clossey, Karen, $204,000
C&M Homes to Pierre, Eddy, $413,000 U.S.
Homes to Reynolds, Clifford, $390,000 Sumereau, Andrew to Ribustelli, Regina, $231,000
Raghoo, Elizabeth to Harper, John $225,000
Brown, Scott to Baez, Jose, $330,000 C&M
Homes to King, Richardo, $359,000 Cherokee
Creek to Gershman, Maria, $202,000 Dunne
Charles to Ali, Enrique, $219,000 Morrissette,
Robert to Petri, John, $258,000 Narvasa, Jay
to Albano, Judy, $240,000 Dewidar, Ahmed to
Correa, Marta, $309,000 Nationwide to Even
Elisseou ,$260,000 Nationwide to Mensah, Alex,
$230,000 Tromebati, Al to Grimaldi, Robert,
$380,000 Garcia, Richard to Mosier,Milton,
$313,000 Ace, John to Pruettipun, Boonchad
$235,000 Brown, Robert to LecourtDaniel,
$201,000 Pullo, Frank to Ayala,Jaime, $368,000
Shannon, Lester to Fiduccia, Judith, $340,000
Williams, Gladys (estate) Barrett TP, $306,000
Miller,Paul to Hewitt Relocation, $207,000
Hewitt to Pacal, Coskun, $222,000 Precision Homes to Zananjor, Asim, $261,000 Kirt
OltmannÕs Inc to Lengyel, James, $235,000
Mwangi-Mwaniki, Eunice, to Sirva Relocation,
$200,000 Sirva to Mumbauer, $200,000 Homes
of Distinction to Pesa, Mario, $225,000 Gehringer, David to Mililllo, Michael, $212,000
Pike County
Raymond Paquette to Laura Mandoske. Location: Dingman Township. Price: $410,000.
Rick Haan to Sidney Zane. Location: Lackawaxen Township. Price: $355,000.
Sheila Spiro to Dennis Gallagher. Location:
Delaware Township. Price: $320,000.
Douglas Nielsen to Ting Chiu. Location: Dingman Township. Price: $295,000.
Samall Properties, Inc to Municipal Authority
of the Borough of Milford. Location: Milford
Township. Price: $600,000.
Diego Lodico to Joel Mariaschin. Location:
Blooming Grove Township. Price: $267,000.
Anthony Palma to Robert and Rosa Brownlee.
Location: Dingman Township. Price: $305,000.
Edward Kane to Frank Love. Location: Matamoras Borough. Price: $280,000.
Russell Hendershot to Barbara Daggett. Location: Dingman Township. Price: $339,900.
Henry Driesse to Michael and Cecilia Halter.
Location: Palmyra Township. Price: $360,000.
Kimberly Rapp to James Cangialosi. Location:
Lackawaxen Township. Price: $270,000.
Robert and Ann Woods to Michael and Sarah
Cadigan. Location: Shohola Township. Price:
$282,500.
Sequoia Group Northeast LLP to Edward and
Margaret Waszak. Location: Lackawaxen Township. Price: $279,000.
Kalian at Poconos, LLC, to Jose Rojas. Location: Lehman Township. Price: $272,923.
Arlo Dixon to John Hoerst. Location: Dingman
Margaret Gross to Vincent Accordino. Location:
Milford Borough. Price: $355,000.
Joseph Ludwig to 104 Mountain Top Properties,
LLC. Location: Dingman Township. Price:
$267,500.
Harry and Patricia Doerr to Gerald Newman.
Location: Blooming Grove Township. Price:
$320,000.
John Dziedzina to Bradford Kenealy. Location:
Shohola Township. Price: $535,000.
Jesse Tashlik to Steven Amendola. Location:
Dingman Township. Price: $359,900.
Keith Yoder to Bradley Mittelmark. Location:
Shohola Township. Price: $300,000.
Ariane Austin to William Lees, Jr. Location:
Palmyra Township. Price: $521,000.
Charles Deranier to 310 Broad St, LLC. Location: Milford Borough. Price: $425,000.
Robert Kreilick to Alfred Baumann. Location:
Lackawaxen Township. Price: $390,000.
Kalian at Poconos, LLC, to Carlos and Teresita
Guzman. Location: Lehman Township. Price:
$253,012.
John and Tamara Hecker to Douglas and Linda
Gober. Location: Palmyra Township. Price:
$550,000.
Benjamin Smith to Charles Davis. Location:
Greene Township. Price: $255,000.
Robert Hastings to Robert and Claudette Burns.
Location: Palmyra Township. Price: $265,000.
Corey and Phyllis Cohen to Danielle Daddis.
Location: Blooming Grove Township. Price:
$254,000.
Pierre Woog to Janusz Skorwider. Location:
Blooming Grove Township. Price: 275,000.
Highland Forest Homes, Inc. to Anthony and
Joann Dolisi. Location: Lackawaxen Township.
Price: $262,228.
Gerald and Judith Longo to Peter and Christine
Fraone. Location: Blooming Grove Township.
Price: $275,000.
Vannatta Realty & Builders, Inc. to Kevin and
Lori McCrory. Location: Delaware Township.
Price: $299,900.
Glenn and Maryann Strys to Samuel and Susan
Ludzki. Location: Blooming Grove Township.
Price: $289,000.
Valentina Fridman to Robert and Kathleen
Butler. Location: Palmyra Township. Price:
$275,000.
Ruth Kesslin TR to Seth Eric Weiner. Location:
Blooming Grove Township. Price: $525,000.
Joseph Molner to Bonnie Rudeski. Location:
Lehman Township. Price: $320,000.
Wayne County
Vincent Contegiacomo to Michael Walsh. Location: Cherry Ridge Township. Price: $250,000.
Catherine McCaffrey to Michael Walsh. Location: Cherry Ridge Township. Price: $250,000.
Joseph Stranad to Vladislav Charniavsky. Location: Clinton Township. Price: $370,000.
Frances Morreale to Klaus Vonschiber. Location:
Damascus Township. Price: $340,000.
Todd Canfield to Thomas Wagner. Location:
Damascus Township. Price: $335,000.
David Cabets to Bruce Covey. Location: Lake
Maureen Schulman to Carolyn Shappert. Location: Lake Township. Price: $570,000.
Robert Frisbie to Bradley Davis. Location: Lake
Barbara Shaffer to Margaret Hoodak. Location:
Lake & Salem Townships. Price: $325,000.
A to Z Home Maintenance to Michael Zuck-
erbrow. Location: Lake Township. Price:
$251,213.
William McGroary to Todd Leff. Location:
Lebanon Township. Price: $325,000.00
Jessica Jacobsen to Ronald Highhouse. Location:
Oregon Township. Price: $501,000.
Timothy O’Donnell to Michael Kuchera. Location: Paupack Township. Price: $750,000.
Robert Cangemi to Herman Wenz. Location:
Paupack Township. Price: $385,000.
D. Dulay. Inc. to Edward White. Location:
Paupack Township. Price: $385,000
Gerard Kelly to Daniel Edlind. Location: Paupack Township. Price: $255,000.
Elizabeth Maybury to John Carson. Location:
Paupack Township. Price: $355,000.
Bruce Covey to William Galardi. Location:
Salem Township. Price: $455,000.
Karen Owens to Kevin Wendt. Location: Salem
David Pitti to George Grassie. Location: Salem
Andrew Zapotsky to Robert Richards. Location:
South Canaan Township. Price: $250,000.
Catherine McCaffrey to Lorraine Maher. Location: Cherry Ridge Township. Price: $282,800.
David Nichols to Philip Goyette. Location: Texas
FEDERAL TAX LIENS
(December 2005)
Monroe County
Duvert Antoine $93,649
IRS V. Maria Bayona $7,000
IRS v M&G Trucking$33, 432
IRS v Patric Roselli $106,771
IRS v Tyrone P{Peters $5,500
IRS v Zoltan Kovacs $26,000
IRS v Thomas and Nancy Sabater $8,000
Robert Hammond $18,000 Charles Gastonia
$5,799 Musa Tangoren, $58,000
MORTGAGES
(December 2005 – Over $250,000)
Pike County
Laura Mandoske, Location: Dingman Township,
Long Beach Mortgage Company, Amount
$328,000.
Scott Williams, Location: Dingman Township,
First Mariner Bank, Amount: $258,000.
Rick and Linda Haan, Location: Lackawaxen
Township, Sidney Zane, Amount: $1,000,000.
Francine Grande, Location: Palmyra Township, Washington Mutual Bank, FA, Amount:
$273,000.
Dennis and Lisa Gallagher, Location: Delaware
Township, MERS, Amount: $ 256,000.
Alicia and Luis Garcia, Location: Dingman
Township, MERS, Amount: $312,000.
Michael Bass, Location: Shohola Township,
Wells Fargo Bank NA, Amount: $369,000.
Penn Business Credit LLC, Location: Palmyra Township, Kenneth George, Amount:
$1,500,000.
Lee and Joan Williams, Location: Lehman
Township, HSBC Mortgage Corp., Amount:
$260,000.
Macyn Bolt, Location: Lehman Township,
MERS, Amount: $544,000.
Barbara Daggett, Location: Dingman Township,
Michael and Cecilia Halter, Location: Palmyra Township, LA Mortgage Services, Inc.,
Amount: $288,000.
Gregory and Patricia Lutfy, Location: Delaware
Township, Citizen’s Bank of PA, Amount:
$303,000.
Erika Lipari, Location: Shohola Twp, MERS,
Amount: $300,000.
Boston Building LLC, Location: Milford Township, Sussex Bank, Amount: $432,000.
Jose and Laurita Rojas, Location: Lehman Township, MERS, Amount: $272,923.
Gregory and Angela Martucci, Location: Dingman Township, MERS, Amount: $310,000.
Vincent Accordino, Location: Milford Borough,
Pennstar Bank, Amount: $250,000.
Bradford Kenealy, Location: Shohola Township,
Elias Halvatsis, Amount: $600,000.
Carlos and Judith Correa, Location: Lehman
Township, National City Mortgage, Amount:
$261,700.
104 Mountain Top Properties, LLC, Location:
Dingman Township, Dime Bank, Amount:
$275,000.
Alan and Donna Payne, Location: Lehman
Township, National City Mortgage, Amount:
$257,545.
Deborah Luca, Location: Dingman Township,
HSBC Mortgage Corp, Amount: $309,500.
Eric and Craig Ehrhardt, Location: Palmyra
Township, Honesdale National Bank, Amount:
$2,050,000.
Thomas Murante, Location: Shohola Township,
Wayne Bank, Amount: $500,000.
Sean Strub, Location: Pike County, Dime Bank,
Amount: $500,000.
William Lees, Jr., Location: Palmyra Township,
310 Broad Street LLC, Location: Milford Borough, Commerce Bank NA, Amount: $320,000.
Kenneth Arnoul, Location: Lackawaxen Township, Dime Bank, Amount: $250,000.
Stephen McKean, Location: Milford Borough,
Wayne Bank, Amount: $320,000.
Sebastian and Norma Damore, Location:
Dingman Township, BNY Mortgage Co LLC,
Amount: $469,342.
Sebastian and Norma Damore, Location:
Dingman Township, Secretary of Housing and
Development, Amount: $469,432.
Alfred Baumann Jr., Location: Lackawaxen
Township, LA Mortgage Services, Amount:
$351,000.
Thomas and Gail Hamm, Location: Lehman
Fred and Kim Ropke, Location: Matamoras
Borough, MERS, Amount: $330,665.
Vincent Provenzano, Location: Blooming Grove
Jerrilyn Coulter, Location: Blooming Grove
Township, Wachovia Bank, Amount: $252,565.
Anthony Smith, Location: Lehman Twp, Dana
Capital Group Inc., Amount: $270,500
Woodloch Spa Resort LP, Location: Lackawaxen
Township, Community Bank and Trust Co,
Amount: $2,000,000.
Michael and Robin Pavlovsky, Location: Greene
Township, Wayne Bank, Amount: $257,000.
Peter and Antoinette Rybak, Location: Matamoras Borough, BNY Mortgage Co LLC, Amount:
$255,000.
Peter and Antoniette Rybak, Location: Matamoras Borough, Secretary of Housing and Urban
Development, Amount: $255,000.
Roger Chevallier, Location: Shohola Township,
Wells Fargo Bank NA, 378,000.
Frank and Marjorie Dascensio, Location:
Dingman Township, HSBC Mortgage Corp,
Amount: $345,600.
Janet Barr, Location: Greene Township, Ameriquest Mortgage Company, Amount: $255,500.
Daniel Armagno, Location: Delaware Township,
Wayne County
Vladislav Charniavsky, Location: Clinton Township, Community Bank & Trust Co., Amount:
$296,000.
Michael and Kathleen Kuchera, Location: Paupack Township, Valley National Bank, Amount:
$400,000.
Quality Designer Homes, Location: Lehigh
Township, Noto Pat, Amount: $385,000.
William and Ann Galardi, Location: Salem
Township, Mortgage Electronic Registration
Systems, Amount: $300,000.
Herman Wenz, Location: Paupack Township,
Mortgage Electronic Registration Systems,
Amount: $400,000.
Edward and Dawn White, Location: Paupack
Gary Donovan, Location: Cherry Ridge Township, Harleysville National Bank & Trust
Company, Amount: $250,000.
Carolyn Schappert, Location: Lake Township,
Amount: $400,000
CSC Land Development, Location: Paupack
Township, Dime Bank, Amount: $260,000.
Craig and Kathleen Smyth, Location: Paupack
Township, Wayne Bank, Amount: $359,650.
Stuart Rybak, Location: Damascus Township,
Agchoice Farm Credit, Amount: $292,000.
Ronald and Judith Highhouse, Location: Oregon
& Dyberry Townships, Honesdale National
Bank, Amount: $400,000.
John and Eileen Carson, Location: Paupack
Thomas Tedesco, Location: Cherry Ridge
Township, Honesdale National Bank, Amount:
$227,200.
Valencia Moore, Location: Lehigh Township,
Amount: $288,500.
Bradley and Nancy Davis, Location: Lake Township, Penn Security Bank & Trust Company,
Amount: $305,000.
Todd and Cynthia Leff, Location: Lebanon
William Goodwin, Location: Cherry Ridge
Township, Dime Bank, Amount: $1,225,000.
Elisabeth & Timothy Wiley, Location: Salem
Marion & Dennis Swencki, Location: Lake
Township, Long Beach Mortgage Company,
Amount: $385,000.
Jeffrey and Sheila Becker, Location: Paupack
MERS = Mortgage Electronic Registration Systems
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