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Hackensack Meridian Health Foundation Welcomes New Trustee, Trustees in New Roles at Affiliated Boards Across New Jersey
Hackensack Meridian Health Foundation, the philanthropic division of Hackensack Meridian Health, is thrilled to announce a new trustee joining the Hackensack Meridian Ocean University Medical Center Foundation Board and a new board chair for Hackensack Meridian Hackensack University Medical Center Foundation.
Augustana Expands Government & International Affairs Department With Four Specialized Majors
In Fall 2026, the Augustana University Government & International Affairs Department expanded its degree program offerings to include more specialized majors — giving students focused pathways aligned with their interests, workforce demands and graduate school preparation.
Is the EU research budget actually increasing?
Is a Horizon Europe budget of €158 billion a 10% cut or a significant increase to the EU’s support for research and innovation? What would seem like a question of fact has divided opinion in Brussels since the Irish presidency of the EU Council presented its negotiation box on October 10. The answer depends on factors such as how you adjust for inflation, whether you account for increases in overall EU wealth and if you care about absolute or proportional figures. The €158 billion budget in current prices, proposed by the Irish presidency of the EU Council, was quickly criticised by university lobbies and rejected by the high-level expert group led by former Portuguese science minister Manuel Heitor. It was also decried by the four pro-European political groups in the European Parliament. “How can Europe close its competitiveness gap while cutting the European Competitiveness Fund by 13% and Horizon Europe by nearly 10%?” asked a joint statement by the European People’s Party (EPP), Renew Europe, the Socialists and Democrats and the Greens/European Free Alliance. Together, these parties hold 63% of seats in the Parliament.In stark contrast, Irish foreign affairs minister Helen McEntee said that the proposal “significantly increases investment in competitiveness, research and innovation,” Meanwhile, a presidency press release said that, compared to the current Multiannual Financial Framework (MFF), the proposal would “double the volume of competitiveness related programmes.” So, who is right? That depends on how you make the calculation.Compared to the Commission figure or the previous budget?The first thing to notice is the difference in baselines. When the MEPs say the Irish presidency will cut Horizon Europe by “nearly 10%” they are using the European Commission proposal for the MFF from July 2025, which allocated €175 billion in current prices to Horizon Europe. However, when the Irish foreign affairs minister said the research and competitiveness budget is increasing significantly, she is comparing it to the 2021-27 MFF, which had a Horizon Europe budget of €84.9 billion in 2018 prices.Her point holds when accounting for inflation. Applying a 2% annual inflation rate, the calculation method used by the Commission, the 2021-27 Horizon Europe would have a budget of €97.5 billion in 2025 prices. In comparison, the Irish presidency’s €158 billion figure in current prices translates to €140 billion in 2025 prices. Does the ECF count?But there is more to the dispute. In its statements, the Irish presidency lumped the research budget in with the overall budget for competitiveness. The Parliament statement, however, kept the two separate. This matters because the next MFF includes plans to add a new European Competitiveness Fund (ECF) to fund programmes meant to boost the continent's competitiveness. The Irish negotiating box allocated €245 billion in current prices to this programme.When this is added to the €158 billion for Horizon Europe, as well as programmes such as the EU education programme Erasmus+, the total for “competitiveness, prosperity and security” in the Irish proposal becomes €514 billion in current prices. But it is still uncertain how big a share of this competitiveness budget would go to research. The Commission proposal of July 2025 for the MFF included clear links between the ECF and Horizon Europe, indicating some ECF money will go to research. At the same time, the structure of the ECF is still being negotiated, and a substantial part of its budget is expected to support non-research activities such as defence manufacturing, decarbonisation and digital infrastructure. Related articlesCouncil floats 9.6% budget cut to next Horizon EuropeResearch community to appeal to national governments over planned EU budget cutEU own resources ‘essential’ for future research budget, says leading MEPSo, it is by looking at competitiveness rather than research, or combining the two, that the Irish presidency can claim that its proposed budget will significantly increase investment in competitiveness, research and innovation.According to the Irish presidency proposal, Horizon Europe and other competitiveness-related programmes in the current multiannual budget received €221 billion in current prices. However, since this money is being distributed from 2021 to 2027, it is not directly comparable to the €514 billion in current prices which will be distributed from 2028 to 2034.Research as a proportion of the MFFBut the relative rise in competitiveness-related programmes points to another important distinction: whether you look at the research budget in absolute terms or as a share of the overall MFF. Here, too, the size of the research budget has risen, although only slightly. In the 2021-27 MFF, Horizon Europe accounted for 7% of the total budget. In the Irish presidency’s proposal, it amounts to 8.7%. The share for the total competitiveness envelope went from 17.7% in the current MFF to 28.1% in the Irish presidency proposal.This proportional share may seem irrelevant to universities looking for research funding, but it is becoming significant as budget negotiations between the Parliament, the Commission and the Council begin. On October 2, a group of 17 southern and eastern European countries sent out a statement calling for the EU agriculture and cohesion budgets to be protected. The Parliament’s co-rapporteur on the budget, Siegfried Mureșan of the EPP, has also said that the research envelope is likely to be cut disproportionately as the budget is slimmed down during negotiations.
UCO College of Business Students Earn Accounting Scholarships
The Oklahoma Society of Certified Public Accountants (OSCPA) Educational Foundation recently honored four University of Central Oklahoma College of Business accounting students with scholarships.
Drake's Bucksbaum business lecture to feature journalists on AI
Drake University will hold its fourth annual Bucksbaum Lectureship in Business on Oct. 21 featuring journalists Karen Hao and Nicholas Thompson speaking how artificial intelligence has evolved and how it will shape America’s future. The event is at 7 p.m. Knapp Center, 2601 Forest Ave. in Des Moines and is open to the public. The event…
Westfield State University unveils life sciences informatics hub
Westfield State University is scheduled to hold a ribbon-cutting ceremony for its newly renovated Center for Interdisciplinary Informatics.
University of Kentucky to host third annual One Health Symposium on Nov. 3
The University of Kentucky Martin-Gatton College of Agriculture, Food and Environment and the One Health Initiative invite the UK campus community, along with local and state stakeholders, to the 2026 One Health Symposium on Nov.
Lakeland receives $1 million to boost science, health care learning
A $1 million estate gift to Lakeland University will fund science scholarships and expand science and health care programs.
Battery-free smart glasses monitor your health using blink energy
Your eyes blink roughly 14 to 20 times a minute, and every one of those movements is wasted energy. Engineers at Northwestern University have found a way to put that motion energy to work, powering a pair of battery-free health-sensing glasses.
Food Science Pilot Plant internship helps student find passion and gain experience
The University of Illinois Food Science Pilot Plant offers space for food processing companies to test new ingredients and technologies. And it gives students real-world experience to prepare for food science careers.
The Politics of Retrieval: Accessing the Backstage of Judicial AI
--Estefânia Maria de Queiroz Barboza, Constitutional Law Professor, Federal University of Paraná (UFPR); Gustavo Buss, PhD Candidate, Federal University of Pa
Nebraska women’s golf continues to build depth
Nebraska women’s golf returned to the links for its final outing of the fall season on Monday, Tuesday and Wednesday at the Golf Iconic Classic hosted by New Mexico State University at the university’s golf course in Las Cruces, New Mexico.
Neeley releases album ‘Hungry Dogs’
Randon Neeley, a regional recording artist about to graduate Eastern Kentucky University, released his debut album “Hungry Dogs.”
Turkish-Japanese science university opens in Ankara
At Turkish-Japanese Science and Technology University, about 100 Turkish students will study artificial intelligence, earthquakes and other fields.
Vietnamese scientist wins ASEAN-US Science Prize for Women
Associate Professor Ha Thị Thanh Huong graduated with top grade in biotechnology from the University of Science under Vietnam National University, HCM City.
New poll shows Democrats ahead in most statewide races
A new poll released by the University of Texas/Texas Politics Project shows Democrats holding slim leads in the U.S. Senate race and most statewide races.
Endeavor Health, Rush University System announce plans to merge
Endeavor Health and Rush University System for Health announced plans to merge into a singular integrated academic health system in a Wednesday news release. The merger will create a unified network of 12 hospitals and more than 400 care sites across northern Illinois and northwest Indiana that will employ more than 46,000 people and serve...
Maternal Health Takes Center Stage at Xavier University
Expert panel addresses healthcare policy, advocacy
As White House shifts focus toward AI and tech, U.S. science leaders defend role of the American university
White House planned shift of research funding from universities to industry risks creating a drought in basic research, science leaders say
Cleveland’s University Circle CDC announces rebranding
The announcement comes ahead of the nonprofit's start of executing its new master plan for the neighborhood.
Cleveland State, Gov. DeWine tout business school gift to fuel AI focus
The announcement of the gift came during President Laura Bloomberg's 2026 State of the University address.
Cleveland State, Gov. DeWine tout business school gift to fuel AI focus
The announcement of the gift came during President Laura Bloomberg's 2026 State of the University address.
Central Minnesota SBDC supports Business Services Pop-Up in St. Cloud
The Central Minnesota Small Business Development Center (SBDC) at St. Cloud State University helped support the Minnesota Secretary of State’s Business Services Pop-Up held last month at the Stearns County Courthouse in St. Cloud.
International business is influenced by local political climate, study finds
A new study co-authored by Tang Yinuo, a tenured associate professor at Peking University HSBC Business School (PHBS), reveals that conservative communities in the U.S. are more likely to resist mergers ...
International business is influenced by local political climate, study finds
A new study co-authored by Tang Yinuo, a tenured associate professor at Peking University HSBC Business School (PHBS), reveals that conservative communities in the U.S. are more likely to resist mergers ...
D.C. is spending billions on sports venues. Experts say the financial return isn't guaranteed
D.C. has already invested billions into building a new football stadium and renovating Capital One Arena. As the District considers new projects, George Mason University Professor Terry Clower explains why sports stadiums aren't always a sure bet.
UA receives $600,000 for scholarship campaign
The University of Arkansas recently received about $600,000 in gifts for its Land of Opportunity Scholarship. The UA aims to raise $200 million in the campaign, and the scholarships will...
Super Science: OSU-developed bermudagrass takes center stage at FIFA World Cup Final
Oklahoma State University's Tahoma 31 bermudagrass, developed by OSU Agriculture researchers, hosted the 2026 FIFA World Cup final at MetLife Stadium.
Endeavor Health announces plans to merge with Rush University Health System in 2027
Endeavor Health and Rush University System for Health announced Wednesday that they plan to merge, creating a 12-hospital system that will operate under
Alda Center Celebrates 10 Years of Leadership and Initiatives
The Alan Alda Center for Communicating Science at Stony Brook University is celebrating 10 years under the leadership of Executive Director Laura Lindenfeld.
Faculty in the College of Behavioral, Social and Health Sciences receive funding to develop industry-embedded experiential learning programs
Two faculty members in the College of Behavioral, Social and Health Sciences (CBSHS) have received funding from Clemson University to develop experiential
Faculty in the College of Behavioral, Social and Health Sciences receive funding to develop industry-embedded experiential learning programs
Two faculty members in the College of Behavioral, Social and Health Sciences (CBSHS) have received funding from Clemson University to develop experiential
In Good Health: Are We Solving Hearing Loss?
For those experiencing hearing loss, being able to discern the speech of other people in noisy environments can be frustrating. And hearing aids often don’t convey sound in every situation.Hearing loss affects 37.5 million adults in this country. And rates of hearing loss increase with age. Some 10 percent of those over the age of 55 have hearing loss that qualifies as a disability. And just over half of all people over the age of 75 have disabling hearing loss.In this edition of “In Good Health,” we talk about the health issues that most affect us and put your questions to the experts. This time, we tackle hearing loss.Here are some resources shared by our experts during this discussion:- HearAdvisor.com – a hearing aid comparison and review site- Hear & Beyond by Shari Eberts and Gael Hannan – a guide to navigating hearing loss- Hearing Number app – a free smartphone app by Johns Hopkins University for measuring how much sound you can hearFind more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.
MTSU Public Health Program celebrates growth, alumni impact at annual PHamily Dinner
From celebrating three consecutive years of enrollment growth to recognizing outstanding alumni, Middle Tennessee State University’s Public Health Program had plenty to celebrate during its fourth annual PHamily Dinner.
DeWolf Family Foundation donates $3.5 million to Tippie College of Business
The Cedar Rapids-based DeWolf Family Foundation is planning a big investment into the future of student readiness at the University of Iowa’s Tippie College of Business. According to a University of Iowa news release, the foundation will be donating $3.5 million to the college’s Tippie Thrive program, a peer-led initiative to prepare Tippie students for […]
Chesapeake Bay health rebounds to C+ in best grade yet
The Chesapeake Bay’s ecological health rebounded in 2025 and scored its highest ever mark — by one percentage point — in the 40 years that the University of Maryland Center
Rush University System and Endeavor Health announce merger, would create largest health system in Ch
Florida State University professor explains how short-form video is changing political debates
As November’s midterm elections approach, political debates emerge at the forefront for many voters. But as more people turn to short-form video,
Rush University System for Health, Endeavor Health unveil 12-hospital merger
Two of Chicagoland’s major healthcare players announced plans Wednesday to merge into a 12-hospital nonprofit with nearly $11 billion in annual revenue. | The resulting nonprofit system would be Illinois' largest by hospital count and comprise nearly $11 billion in annual operating revenue.
DeWolf Foundation gives $3.5 million to support UI business students
The DeWolf Family Foundation of Cedar Rapids is giving $3.5 million to support University of Iowa business students’ well-being and career preparation.The gift
Rush University System and Endeavor Health announce merger, making them largest health system in Chicago
Rush University System for Health and Endeavor Health announced they will merge into a single integrated academic health system, creating the largest health system in Chicago.
Major Chicago-area health systems Endeavor, Rush University announce plans to merge
The plan, expected to close in 2027, would create one of the largest health systems in Illinois
Report: Virginia Tech’s next president coming from Kansas State
Virginia Tech is expected to name Richard Linton, Kansas State University's president, to be its next president.
Endeavor Health and Rush University System for Health announce plans to merge
A union between Endeavor Health and Rush University System for Health would create one of the largest health systems in Illinois.
Tap & Tees brings indoor golf and entertainment to Southwest Florida
Located at University Village Shops near Florida Gulf Coast University, Tap & Tees Golf Lounge features indoor golf simulators where players can practice their swing.
Leaders in faith, tech, business discuss AI at Catholic U
Taylor Black is a builder. Black, founding executive director of The Catholic University of America’s Leonum Institute for AI and Emerging Technologies in Washington, is a self-described venture architect at Microsoft — leading cross-company initiatives for the next generation of groundbreaking technologies.
Beyond the Hospital: Old Dominion University Nursing Students Take Community Health Into Practice
It’s 9 a.m. on a scorching summer day in Williamsburg. Audrey Wallin has arrived at Grove Christian Outreach Center from Virginia Beach expecting to put her nursing skills to work. What she finds is a lesson in healthcare that extends well beyond a blood pressure cuff.
Governor Champions Texas Energy At University Lands Fireside Chat
Governor Greg Abbott championed Texas’ energy leadership and booming economy during a fireside chat at the University Lands Energy Forum.
Turkish-Japanese Science University Opens in Ankara
Tokyo, Oct. 14 (Jiji Press)--A university established by the Japanese and Turkish governments held an opening …
SEC opposes LSU bid to end lawsuit - Dispute remains 'live'
The SEC is opposing LSU's request to dismiss the conference's lawsuit against the university and its officials, saying a live controversy still exists between the parties.
Meadowview Regional Medical Center and Fleming County Hospital join Gill Affiliate Network
UK HealthCare welcomes Meadowview Regional Medical Center and Fleming County Hospital as the newest members of the University of Kentucky Gill Heart & Vascular Institute Affiliate Network.
Helmsley Charitable Trust awards $3M toward Tel-Hai University science building in the North
Donation brings Helmsley's total support for the Galilee school to $18 million
New Board Members and Leadership Team at OH Foundation
The Oswego Health Foundation has announced the appointment of two new members to its board of directors, along with new officers who will lead the foundation as it continues its mission of strengthening healthcare in the communities served by Oswego Health. Joining the board are: [caption id=attachment_11136 align=alignleft width=180] Susan Brannan Cole[/caption] • Susan Brannan Cole. She is a public affairs, marketing and communications leader with more than 20 years of experience. She serves as regional manager of external affairs for National Grid in Central New York. Cole also brings significant healthcare communications experience, having spent several years at Upstate Medical University in media relations, digital strategy and public engagement. She previously held leadership roles in communications and government affairs at Novelis and Constellation in Oswego. A graduate of SUNY Oswego, she is passionate about strengthening Central New York communities and supporting initiatives that improve quality of life across the region. [caption id=attachment_11129 align=alignright width=150] Rich Baldwin[/caption] • Rich Baldwin. He serves as director of marketing and business development at King + King Architects, where he leads the firm’s marketing, communications and business development initiatives. Baldwin has remained actively involved in community and nonprofit organizations, including previously serving on the board of regents at Le Moyne College. He has also supported community initiatives through organizations including the Onondaga Historical Association and Father Champlin’s Guardian Angel Society. New leadership at the foundation are: • William W. “Bill” Crist will chair the Oswego Health Foundation. He brings more than 40 years of experience in education, from classroom teacher to superintendent of schools. He retired in 2023 from the Catholic Schools of the Diocese of Syracuse and remains deeply engaged in the community through numerous nonprofit and volunteer boards. He also serves as chairman of the Sanctuary Advisory Board for the proposed Lake Ontario National Marine Sanctuary. • Heather Sunser will serve as vice chair. Sunser is a financial services practice group leader at Barclay Damon LLP, where she focuses primarily on real estate law, institutional lending, land use and municipal compliance. A graduate of Syracuse University College of Law, she is also active in community service, volunteering with Vera House Legal Clinic, Habitat for Humanity and the Volunteer Lawyers Project of Onondaga County. She serves on the Board of Trustees of the Onondaga County Bar Foundation. • Darcy Antonucci will be the foundation’s treasurer. Antonucci serves as comptroller for Broadwell Hospitality Group, overseeing the financial functions of nine growing corporations as well as the company’s administrative departments. She brings extensive experience in finance, human resources and business operations, along with a strong record of community leadership. Antonucci has served on the Compass Credit Union board of directors and is an active member of the Trinity Catholic School Board. She has also been involved with the Oswego Health Foundation Gala Committee since 2018. • Attorney Rachael A. Dator will serve as secretary. Dator serves as administrator of the Oswego County Assigned Counsel Program, where she oversees grant funding, budgeting and program operations. With more than a decade of legal experience, she has served as an assistant district attorney, court attorney and legal counsel to municipalities and social services organizations. Dator brings extensive knowledge of law, governance and nonprofit operations to her role with the foundation.
SPECIAL REPORT: Tough Business
A string of vacant restaurant buildings shows that many restaurants in the region are struggling — and several are closing By Stefan Yablonski [caption id=attachment_11132 align=alignright width=401] Smokey Bones Bar & Fire Grill on Route 31 in Clay closed its doors in April. It had been in operation since at least 2008.[/caption] By their nature, most restaurants have a limited life. An astonishing 60% go out of business within three years of opening, largely due to fundamental flaws in the planning of the operation. But even restaurants that experience years of success almost always face eventual closure. The restaurant business is very hard and because of both personal factors and external factors beyond anyone’s control, restaurants don’t last forever. For many restaurants, age is a big factor, according to Kenneth Walsleben, professor of practice, entrepreneurship and emerging enterprises at Syracuse University. “The owners have been at it for 20 or 25 years, if not longer, they want some time to themselves,” he said. Such was the case for Jocko’s Famous Ritz Diner in Oswego. Jocko Reitz bought the building in the late 1970s from Robert Shapiro. However, when he stepped away from the business, it eventually closed. [caption id=attachment_11142 align=alignright width=402] For nearly 80 years, Vona’s Restaurant passed through three generations of family in Oswego. It closed its doors on Dec. 31, 2025.[/caption] For nearly 80 years, Vona’s passed through three generations of family in Oswego. Vona’s Restaurant officially closed its doors on Dec. 31, 2025, when no family member wanted to take over. It is on the market. The Ruby Tuesday in Oswego operated for about two decades before permanently closing in April 2026. The restaurant faced multiple temporary health department closures in 2024 and 2025 due to persistent fruit fly and foundation pest issues. Management posted a final closure notice on the doors in mid-April 2026 and the building was put up for sale. The same pattern has been happening in Onondaga County. The big building once used by Smokey Bones Bar & Fire Grill on Route 31 in Clay remains empty, more than six months after the restaurant closed its doors in April. It had been in operation since at least 2008. [caption id=attachment_11130 align=alignright width=401] Ruby Tuesday in Oswego operated for about two decades before permanently closing in April 2026.[/caption] Just down the road from Smokey Bones, the popular Outback Steakhouse closed in August 2024. Another restaurant took its place, La Cocina Mexican Restaurant, but it closed shortly after. The building sits empty. Other very popular restaurants in the northern suburbs of Syracuse have recently closed. Among them, Fireside by the River in Baldwinsville and Primo Nestico’s Bistro Bar in North Syracuse. “I haven’t really paid attention to the Syracuse area. There has always been some turnover, but there probably has never been a tougher time to be a restauranter than now. It’s just brutal,” Walsleben said. In the first year, roughly 20% to 25% of restaurants close or change hands, according to the National Restaurant Association. [caption id=attachment_11122 align=alignright width=401] Outback Steakhouse closed in August 2024. Another restaurant took its place, La Cocina Mexican Restaurant, but it closed shortly after. The building sits empty.[/caption] “Depending on what statistics you look at, you’ll find that any business has a high mortality rate in the first year. That is just the nature of entrepreneurship,” Walsleben said. “There are certain ones that are getting hit hard while others are more fruitful. “And when you look at the restaurant industry you have to factor in labor which is a large part — typically a third of your expenses — and those costs are going up. And there is always turnover which means investing money to train people. Then you’ve got food costs, which is also a third of the typical restaurant budget. Since the pandemic labor has gone up 41%, food costs have gone up 35%. That’s a big tight squeeze righty there. That’s two-thirds of your budget that has gone up 35% to 40% in the last few years. And then the only way you can make that work is to raise the prices.” The National Restaurant Association reports menu prices are up 36% since February of 2020. In a survey released by the association, more than eight in 10 restaurant owners reported that their food, beverage and labor costs are now higher than before the pandemic. You have to deal with the reality of are the customers willing to pay for that? Walsleben added. Restaurants historically have very thin margins; their profit margin is about 5%. “You have a third that goes into food, a third that goes into labor and about 28%, 29% that goes into everything else — overhead, insurance etc. So that brings you down to your 5% leftover,” he said. “Everything is going up. Customer expectations are going up and people aren’t going to spend that much more. So, you have a tight squeeze here,” Walsleben continued. “Restaurants who use delivery apps, they pay a fee to those guys. Those guys don’t work for free. So, you can kind of see where the squeeze comes from.” Stuck in the middle There are pockets of opportunity; the two extremes of the market can make a profit. But the middle gets squeezed out. “If you are a low-end fast-food kind of place, there is room for that. People have changed their budgets. They are still going out, but they are not spending more,” according to Walsleben. “The high end remains positive. If you have a restaurant that brings a specific experience … a great food product or you are catering to high end customers who aren’t so budget conscious, those patrons are going to expect a high-end experience. They expect excellent food every time. They are expecting excellent service. If you can meet those expectations there is room for you at the top. It’s just the guys in the middle are getting the squeeze from both ends. Tough competition, customer expectations, costs are up. Menu items, you can’t raise the prices as much as you need to. That is why you are seeing a lot of restaurants baling out.” The ones that can adapt quickly are the ones who are doing OK. “Success is heavily dependent on the strength of a restaurant’s concept development and the planning of its execution. Eventually things aren’t always new. Things change. So, if you are in the restaurant business you have got to change your menu — keep things new, fresh and update your meals. It is very fickle industry. One year carbs are out, the next year berries are out. Everybody’s diet changes — constantly chasing the latest phase. You have got to adjust your menu and move with those modifications. If you have a static menu that you have used the last couple years that hasn’t changed except for the pricing, you’ve got a problem,” he said. A lot of times these buildings are singular purpose, he added. “You have a commercially viable kitchen and you got a seating area. There is not a lot of other businesses that cater to that type of a layout. So, it’s pretty common to see another restaurant slide in,” he said. One of the things a banker learns early on is you don’t lend money to restaurants … because they fail so quickly. It is very hard to predict who the winners will be. So, if you are a restaurant in addition to all the other challenges, it is very difficult to get loans, according to Walsleben. “You might work really well in the kitchen. But that doesn’t mean you are a great businessperson,” he said. “Restaurants can fail because the owner didn’t know how to manage things properly. There are a lot of challenges. “There is opportunity at the high end and the low end. But in the middle, that’s the death valley. There are just so many things working against you. You really need to have something that will pull people in and continue to pull people in because you to constantly have to change. Think about a theme and a product that is unique to the area people don’t travel that far these days you have to be able to deliver it in an innovative fashion and keep updating to keep people coming in the door.” Out of Business? How Fast? Do nine out of 10 restaurants fail in their first year, as commonly claimed? No. Survival analysis of 1.9 million longitudinal microdata for 81,000 full-service restaurants in a 20-year U.S. Bureau of Labor Statistics non public census of business establishments in the western US shows that only 17% of independently owned full-service restaurant startups failed in their first year, compared with 19% for all other service-providing startups, according to ResearchGate. The median lifespan of restaurants is about 4.5 years, slightly longer than that of other service businesses (4.25 years). However, the median lifespan of a restaurant startup with 5 or fewer employees is 3.75 years, slightly shorter than that of other service businesses of the same startup size (4.0 years). What Makes a Restaurant Successful? Opening and maintaining a successful restaurant is not as easy as creating a great menu and serving excellent food. It takes more than that, according to local restaurant owners who have been in business for decades in the region. They all agree that there are some guidelines to running a successful restaurant. • Quality food: Successful restaurants know exactly what they serve and who they serve it to. Delivering the same great taste every single time builds loyal customers. • Smooth operations: Friendly greetings and attentive staff make guests feel welcome from the moment they walk in. Hiring staff for personality and training for skill ensures reliable, caring service. • Smart marketing: Exceptional food and experiences naturally get people talking and sharing online. Word of mouth can help entice customers. Consistent social media and targeted advertising brings in new and repeat guests also. The menu is what keeps patrons coming back to Mimi’s Diner in Fulton, located at 201 N. Second St. “We locally source our produce and our meats. Our chicken and biscuits is a popular, popular special,” said Richard Tagliareni, the third-generation owner and general manager. “It’s all homemade. We have consistently served quality food.” His grandfather started the business more than 55 years ago. Mimi’s is engrained in the community. They cater to the community and are very involved in everything from the schools to local events. The first Mimi’s Drive-In opened in Mexico. Then a second in Oswego and then Fulton. Fulton’s Mimi’s is the only one left. “The last couple of weeks have been kind of slower than normal. October is usually a busier month for us People will start coming back around again. Also, the price of gas is affecting some things,” Tagliareni added. “We try to keep our prices in line. You go out to eat, you’re going to spend about a hundred bucks or so for two people for dinner. You come here to Mimi’s you are probably for two people for dinner it’s between $50 and $60. We are trying to keep our prices in line. We did have to increase our prices a little bit but things are looking OK.” For the Press Box, 29 E. First St., Oswego, it’s also about great food and a family atmosphere. “Our sports bar and restaurant was established in 1984,” said Alison Canale Scanlon, manager. “I think putting the time into everything makes a big difference and treating people like family when they walk into your restaurant. That’s how we have always operated since 1984.” “It’s the family oriented aspect,” she added. “Consistency, quality and presentation of our food — that’s the secret to a successful restaurant. We try to be very consistent with it. We treat people like family when they come in; because we know how we want to be treated when we go to a restaurant. We treat people the same or better.”
Retiring from Farming
Start now to ensure your farm passes to the next generation Deborah Jeanne Post [caption id=attachment_11062 align=alignright width=405] Adam C. Howell, outreach director at Cornell’s NY FarmNet: “Retirement from farming is atypical planning,” he says.[/caption] Roughly 70% of family-owned farms will transfer ownership withing the next two decades, according to data from to the USDA census. Only 30% of those will remain in the family. The number of farms in New York is shrinking as the size of farms increases. In other words, there are fewer farms in the state, but they’re much larger. This is why succession planning is so important for family farms. A farm represents not only a way to make a living but a legacy and family tradition. Many families want to preserve the small farm segment of agriculture and the values it represents. Passing the family farm to the next generation can’t be left to chance. And it shouldn’t be left for “the kids to figure out” after the older generation dies. Succession planning in agriculture isn’t like other types of business retirement planning or personal final planning. “Retirement from farming is atypical planning,” said Adam C. Howell, outreach director at Cornell’s NY FarmNet. “Most farmers, their assets and the way they live and survive in retirement is tied up in the equity in the farm. Those conversations must take place a lot earlier than they think. They’re dealing with something asset-heavy that may require a trust and tax planning.” NY FarmNet offers farmers free, confidential consultation services regarding financial and business management, and family, and mental health support for farmers in New York state. It’s a program of Cornell University in Ithaca. Howell urges farmers to begin the conversation early. Most family farms are run by generations with the oldest generation most involved and typically with fewer of the middle-aged adults and young adults involved. Some of the younger generation may have off-farm jobs and not live on the homestead. “Different people have different expectations on their legacy,” Howell said. “Intergenerational conflict and discussions can be difficult. It may be good to check with NY FarmNet or Ag Mediation to help mediate these conversations with a third party. A lot of farms have broken up because people can’t decide how to divide things.” New York State Agricultural Mediation Program is a USDA‑certified, free or low‑cost service for farmers. Fair is not always equal. A sole owner simply stating that he wants to divide things equally among his children may leave one-quarter of the farm operation to an adult child who moved away and hasn’t sat in a tractor for decades. The three adult children who have toiled on the farm for 30 years may need to buy out the fourth, non-farming sibling but cannot because all of their money is tied up in the equipment, land and stock that supports their livelihood. Their payrate may not allow them to set aside much to buy out the non-farming sibling. As a result, they may need to sell parts of the farm off in order to keep it. However, doing so may limit their ability to sufficiently support their families. The farm owner may need to bequeath more assets to the farming siblings because their efforts have kept the farm going and without those assets and their work, the farm will cease operations. Howell advises seeking professional help on tax and legal issues. Without it, families can be exposed to expensive problems and infighting. A third-party expert can help farm families navigate what is truly fair in the family’s succession plans. Beyond the practical aspects of inheritance, succession also relies upon planning who will operate the farm and how. “I think it’s important that farmers understand the means and methods of farming are always changing,” Howell said. For example, many young adult farmers earn a degree at a school such as Cornell, SUNY Cobleskill or Morrisville, work on a different farm for a while and then return to their family farm with big ideas on how to improve the farm — if only their dad and uncles will agree. Intergenerational conflict is often centered on newer ideas such agritourism, online marketing and shipping goods. “It causes conflict,” Howell said. “A lot of it comes down to communication and respect within the family. If no one in the family wants to take on farming, what we’ll see is older farmers start to help trusted managers buy into the farm.” The middle-aged generation, now in their 40s and 50s, often struggle with wresting the helm from their parents. Howell said that many older farmers don’t discuss with their grown children their vital business information such as vendors, ordering supplies, pricing, recordkeeping and farm planning. They even claim that “the kids” aren’t ready yet. These gaps in cross-training may cause significant problems even before the older generation dies, if there’s an illness or injury. Howell urges farmers to document these processes and cross-train others on the farm how to handle these areas “to make sure if one person is incapacitated, the entire operation is not at risk,” he said. Mark Modzeleski, financial adviser, financial planner and president at Legacy Wealth Advisors of NY in Syracuse, advises families to talk sooner than later about who should be operating the farm. “Someone is driving the farm,” he said. “Have you decided who? Be honest when you have that conversation. Who do they turn to when there’s a question? Or who has the potential to be leaders?” Planning for leadership continuity is vital. Unfortunately, talking like this can become fraught with emotions if it’s only the family involved. Modzeleski advised finding a third party who can help drive the conversation. “Invite the right people to the conversation who can get you from point A to point B,” he said. “This is a marathon, not a sprint.” It may take sitting down a few times with an estate planning attorney who specializes in farm transition, along with a tax professional and others who can help moderate and plan. Family members, owners and possibly, integral farm managers should attend the meetings. “Figure out what you want your legacy to be,” Modzeleski added.
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