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Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
Elder Law attorneys focus on the legal and financial aspects of aging – how to deal with capacity issues and limited resources. But, how does a family know if there are capacity issues and what the monthly care costs will be? Enter the Capacity and Care Assessment –fundamental tools in developing a comprehensive aging Asset Protection Plan.
On behalf of myself, the Chamber Board and our team, my heart goes out to those of you affected by this virus some more deeply than others. I know from speaking with you that some of you have lost loved ones and are experiencing financial difficulties.
Please know that the Chamber team and volunteer leaders are striving daily and working hard on your behalf during this challenging time to connect you with each other and the resources you need to succeed. Here at the Chamber we connect, convene, facilitate, educate, and advocate for your business and continue our valuable programming including holding committees and putting on educational seminars for your benefit. We are fulfilling our mission virtually! And if you have not been involved we invite you to join us on this journey.
Morris County is truly an extraordinary place because of you and despite the losses we’ve incurred there has been tremendous outpouring of support for each other. Business is still being done and we WILL get through this together! Please know that ae are here for you. While we are physically separated from each other to hear your voices and see your faces on Zoom is always a tremendous inspiration. Thank you for your active participation and please reach out to me at any time if the Chamber and EDC can be of assistance.
Jean Chatzky new she wanted to be a journalist when writing for the school newspaper at the University of Pennsylvania. Then she began her post-college career as an editorial assistant at Working Woman magazine, where she was assigned to the financial editor. “She taught me that numbers could play an important role in telling a story,” she recently said. Chatzky has been telling the stories of numbers ever since and today is a best-selling author and columnist and serves as the financial editor of NBC’s TODAY show, AARP’s personal finance ambassador and founder and CEO of the multimedia company HerMoney. In 2015 she partnered with Time for Kids and The PwC Charitable Foundation to launch Your $, a financial literacy magazine reaching two million schoolchildren each month. Chatzky was the keynote speaker at a recent luncheon hosted by the Women in Business Program of the Morris County Chamber of Commerce, held at the Westin Governor Morris in Morristown. Chatting with Susan Cohen of Diversity Marketing and Communications in an interview format, Chatzky shared with the audience her five keys for financial success:
Regarding investing what you save, Chatzky said there is a difference between hiring a guide and needing guidance. “Sometimes you just need advice,” she said, noting there are plenty of online resources offering investment advice, including her own, HerMoney.com. “I’m a big fan of getting started while you’re still learning,” she said. “If you wait to invest until you know everything, you’ll never invest…If you can’t see it, if you can’t touch it, you won’t spend it.” Women tend to be overly cautious about investing, focusing on safety, stability and savings, according to Chatzky.
“The irony is that this stands in the way of our financial success,” she said. “Women have more money in the bank than we should,” saying they would be better served investing that money. Women also do not plan on living as long as they do, she added. Chatzky was asked what advice she would give her younger self. Education, she answered. She recalled when she left a job early in her career, she cashed in what she was owed. “I got a check and didn’t know about a rollover,” she said. “I just went shopping.” She said the best advice she can give young people is to save. She also advised that paying off a low-interest student loan instead investing in a retirement plan such as a 401(k) is not a good idea.
“Whenever there is free money available, we want to grab it, (such as) those matching dollars in a 401(k) program,” she said. Chatzky also shared some thoughts about finances for business owners.
“Our business is not our retirement plan,” she said. “If you are working for yourself and you do not have a 401(k), make sure you have…an IRA.” Chatzky also was asked how she wears so many hats and gets everything done, including her personal life. “This conversation we have on balance drives me crazy,” she answered. “I think the idea of balance is a total crock…There are days when I’m very good at my job and I’m a lousy mother. There are days when I’m a wonderful mother but I’m not very good at my job. We have to stop setting these unrealistic ideals.”
Approximately 10,000 baby boomers are retiring every day. The number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, increasing from 16 percent of the U.S. population to 23 percent, according to the Population Reference Bureau. As a result, there could be more than a 50 percent increase in the number of Americans aged 65 and older requiring eldercare, the demand for which also will be driven by a steep rise in the number of Americans living with Alzheimer’s disease, the bureau states.
“The Silver Tsunami is upon us and it’s growing even stronger,” said Mike Stanzilis, vice president of membership at the Morris County Chamber of Commerce, who has seen a noticeable increase in
eldercare service providers joining the chamber. “The businesses associated with that are growing at a rate reflective of the largest generation ever to reach retirement age.” The eldercare service industry comprises skilled nursing facilities, home health care agencies, social services agencies, continuing care facilities and assisted living facilities, according to market research firm Freedonia Group. Revenues for these elder care service providers were expected to grow 6.3 percent per year, to near $400 billion in 2018, Freedonia reports.
Stanzilis has seen a particular growth in both in- home eldercare businesses and independent/assisted living facilities in the chamber. Unicity Healthcare provides in-home eldercare services through Unicity Homecare and aging planning and implementation solutions through Unicity Senior Advisors. “We provide a holistic approach to the family’s and individual’s needs and address those to fit the specific needs of the senior,” said Laura Jeros, the company’s director of business development. She said people living longer and being discharged from hospitals and rehab facilities earlier than in the past is leading to a 40 percent annual increase in demand for their services. “We’re seeing an increase in demand for multiple services in the home setting.” Back Home Safely provides in-home modification services to allow elderly to age at home. Co-founders Karen and Gregg Frank are a physical therapist and occupational therapist/certified aging-in-place specialist, respectively. The firm offers free home assessments and installs mobility and safety enhancement equipment such as chair lifts, ramps, grab bars and bathroom modifications.
The company went from 937 installation jobs in 2016 to 1,259 in 2019, numbers which do not include free assessments. “We felt someone who understands disabilities should be part of the home modification business,” Karen Frank said. “Our goal is to allow individuals to return home after a medical episode or simply to age in place in the home they love.” Sunrise Senior Living/Bright Gardens operates four facilities in Morris County offering independent living, assisted living and Reminiscence (Alzheimer’s) care. They also offer rehabilitative and respite care and short-term stays. Each of their facilities can accommodate between 80 and 120 resident.
Sunrise’s independent living communities offer on- call assistance and a variety of services while its assisted living facilities provide 24-7 services and social activities within a community setting. While Sunrise does not release growth data, Tracy Fishel, area manager of business development, said, “The increased need for memory care services is a trend that we expect will continue for the foreseeable future. Every 65 seconds, someone in the U.S. develops Alzheimer’s, according to the Alzheimer’s Association. We’re proud to offer assisted living and Reminiscence programming within the same building at many of our communities, so residents can age in place.” Sycamore Living is a new facility set to open this spring offering assisted living and memory care, post- acute rehabilitation and long-term care services.
Sycamore is somewhat unique in that its projected 125 residents will live in neighborhoods of 18-22 members, with a centralized Main Street area offering dining, a wellness center, a movie theater and a virtual reality room to stimulate brain activity, according to Bruno D’Uva, managing partner. “It’s kind of like living in a bed and breakfast among a small group of people,” he said. “This allows our residents to feel more interactive…We feel it’s a healthier environment.” There are benefits to Morris County from this growth in eldercare, according to Meghan Hunscher, president of the Morris County Chamber of Commerce, who noted that the county is even drawing elderly from New York City. “The good news is it’s fulfilling a need, it’s creating tax revenue for communities and it’s creating jobs,” she said. “Plus, you can care for a parent closer to home, which increases productivity in the workplace.”
Linda Bowden seemed a bit unsure of why she had been selected to speak to more than 500 people about leadership. She asserted that every attendee at the 99th Annual Meeting Luncheon of the Morris County Chamber of Commerce had a story of
Yet during the next 30 minutes it became very clear to the audience just why Bowden was at the podium. She has this leadership thing down pat. Bowden is New Jersey regional president for PNC Bank. She has been named among the 25 Women to Watch by U.S. Banker magazine, was recognized as one of the Best 50 Women in Business and Power 100 by NJBIZ and is chair of the board of directors of the New Jersey Chamber of Commerce.
Bowden served as the keynote speaker at the meeting, held at the Hanover Marriott Hotel. She began her discussion, entitled “Leadership Evolution: Empowering Others to Achieve Excellence,” by telling the audience leadership is not about organizational charts. “Leadership is really about what you do on the job,” she said. “Every day you will have the opportunity to demonstrate your leadership.”
Bowden said her lessons about leadership were greatly shaped by significant changes that took place in the banking industry. For example, with low interest rates cutting into banks’ ability to make money, they have had to become creative. “We had to be nimble and find new sources of revenue streams,” she said, citing wealth management and financial technology. “The banks are figuring out if you want to beat them, join them.”
The Great Recession left banks facing mass consumer distrust, forcing them to rebuild their brand. Community investment was one of the ways they did that, she said. Technology also changed the way banks operate, Bowden added. She noted banks used to be social hubs where community members would gather. Today, very few consumers go into their banks, she said, citing that 71 percent of PNC customers used online and mobile banking in 2019 and 58 percent of deposits were online.
With these and other changes as the backdrop, Bowden talked about leadership as an ADVENTURE, using that acronym. She said A stood for Adaptability. Bowden started her career as a teacher before moving into banking. “For many years I felt like an imposter,” she said. “I felt like it was a matter of time before these people figured out I don’t know what I’m doing.” But she adapted and learned, including how to be determined, the D in her acronym. Bowden called determination critical to success as a leader.
“If you’re not making mistakes, you’re not pushing yourself hard enough,” she said. V stood for vision – “The power of imagination of what might be,” she said, recalling when she started her banking career, leadership was almost all male. Bowden said energy (the E) is a leader’s most precious resource and they must do more of what gives them pleasure outside work to continually recharge their batteries. N stands for nurturing, Bowden said. “If you had a mentor, make sure you reach down and mentor someone else,” she said. “You will get a million compliments in your career but the person who takes the time to give you constructive criticism…is the one you will remember.” In her acronym, T stood for team play and U for uprightness. “Upright means integrity,” Bowden said. “You all have the ability to succeed in your career but it will not be worth it if you do not also succeed in your personal integrity.” R stood for rebel – “All of us need to take a stand sometimes and not stand in the background,” she said
– while E stood for enterprising – “Find a way to learn something every day of your life,” she said. “Be a lifelong leaner.” The chamber also awarded its annual William P. Huber Award for Outstanding Community Leadership to Raymond Nisivoccia, founding partner of accounting and management advisory firm Nisivoccia LLP.
Raymond Nisivoccia has a long history of community commitment throughout Morris County and beyond, having been active in such community organizations as the Hackettstown Regional Medical Center, the 200 Club of Morris County, Centenary University, NourishNJ, the Boy Scouts and Kiwanis. He has been honored for his community activities by the Morris County Organization for Hispanic Affairs, NJBIZ, the Morris County Police Chiefs, Centenary College and the Boy Scouts, among many.
“It’s important that we all want to give of ourselves,” he said. “It’s very easy to say, ‘Let someone else do that.’ We have to dig down and say, ‘I believe I can do this.’” The chamber also welcomed Morris County Freeholder Director Deborah Smith to the meeting, who noted that the county is home to 800 corporate headquarters, including Fortune 500 companies. “We will work with the Morris County Chamber of Commerce to make sure Morris County remains the #1 county in New Jersey in which to do business,” she said.
by John Allen Mollenhauer, Performance Lifestyle Inc.
As we begin our 100th year, I consistently hear how the reputation of the Morris County Chamber of Commerce precedes us. In this issue we celebrate the diversity of programming that we offer that gives this chamber the impact it has. We pride ourselves on providing opportunities to hear from and speak with thought leaders.
We welcomed Linda Bowden, New Jersey regional president PNC Bank, as our keynote speaker at the 2020 Annual Meeting. Linda inspired the audience of 600 with her overview of her journey and perspective on effective leadership. Similarly, the Women in Business program closed 2019 on a high note with financial advisor, television personality and author Jean Chatzky as keynote. Jean imparted her wisdom and dispensed advice to a rapt audience of 300. The event concluded with a book signing.
At the chamber we are committed to developing our members as leaders, offering a variety of volunteer leadership opportunities such as serving as committee chair or vice chair, serving on a subcommittee or an event committee, or serving as ambassador. We offer public speaking and networking seminars. We also expanded the Young Professional Committee into the RiseMorris program and are developing an advisory board of members under the age of 40 to oversee this program. This is a fantastic opportunity for the young professionals in your organization to network and develop leadership skills.
We are also excited to support the next generation of business leaders, and encourage them to stay in New Jersey, through partnerships with our higher education members. In particular, through the Morris County Economic Development Corporation and partner MorrisTech MeetUp, the chamber presented the PitchNJ high school business plan competition that was held at the Fairleigh Dickinson University Madison campus and also offered an event at Drew University that brought together chamber members and students for an impactful evening of networking.
As a chamber we pride ourselves on being “for business, and for life.” In addition to offering additional social opportunities, including monthly evening networking, the chamber is keenly aware of the personal obligations of our members, many of whom have elderly parents to care for and may also have employees who are caretakers, as well. Eldercare and elder law are two important growing sectors of the county and region and also represented in our membership. In our article this issue, “Morris County Rises to Meet the Silver Tsunami,” we highlight how our members are addressing this important need.
We are making strides at connecting more deeply with our members and the larger business community. Ed Ramirez, director of business resources for the MCEDC, is offering a needs-assessment and one-to-one coaching services and is available for consultations by appointment. He is also conducting a dedicated outreach to minority businesses in Morris County and will be teaching an entrepreneur and small business training program in Dover starting this spring, partnering with nonprofit and banking members.
Finally, we welcome new staff member Kaileigh (Kay) Hilling to our team, who serves as the chamber’s executive assistant. Please join me in welcoming her. She can be reached at email@example.com. She will provide invaluable support to our team and the organization.
I appreciate all your dedication to the chamber’s mission to work collaboratively to advance your interests and champion a thriving business and community environment. Thanks to you, the chamber is a vibrant and valuable organization for making connections and growing your network.
When I meet with members about how the chamber can help grow their business, the topics of talent and human resources are at the top of the list. Accordingly, I am proud to announce we kicked off our new Human Resource and Talent Committee this spring, led by co-chairs Christy Harper, president of Launchpad Talent Group, and Michael A. Shadiack, Esq. of Connell Foley LLP. Christy has extensive background in talent recruitment, on-boarding and retention and brings many years of experience helping businesses succeed through the identiﬁcation of top talent and effective programs to develop employees. Michael is a partner in and serves as chair of the employment law practice group at Connell Foley. He has extensive experience providing employment law compliance counseling to businesses of all sizes, conducts practical training programs and drafts employee handbooks, all with a perspective gained from defending businesses in litigation during the last two decades.
The committee is collaboration between the chamber and the Morris County Economic Development Corporation (MCEDC), a division of the chamber. The mission of the committee is to provide members with the opportunity to discuss timely topics related to talent. It also provides the opportunity to plan and present at forums and seminars that provide valuable information to members and the business community about best practices in human resources, up-to-date information regarding laws and regulations, and strategies for attracting, on-boarding and retaining talent.
While the committee will comprise primarily individuals who have primary responsibility for hiring, ﬁring, providing day-to-day direction to employees and are responsible to address any employee conﬂict or inquiries by government agencies, any chamber member that is interested in human resources as it applies to their business is welcome to attend. It is clear that that Morris County will only remain a “top 10” county and continue to grow if we can successfully attract, retain and develop talent. We encourage all members who are involved with hiring decisions or interested in learning more about how labor regulations affect their business to attend the committee, which meets on the second Tuesday of every month from 8:30 a.m. to 10:00 a.m. at the chamber ofﬁces. If you are interested in learning more or being a presenter, please e-mail Michael Shadiack at MShadiack@connellfoley.com
I am excited to announce that the MCEDC also is investing in a new database, Hometown Opportunities, to provide improved connectivity between employers and prospective employees that will be developed this year. Employers will be able to list local job opportunities and residents, students and volunteers will be able to ﬁnd opportunities in their hometown or within Morris County. You will realize the beneﬁt of this resource by having a tool to attract talent in a competitive labor market through your business proﬁle.
Cybercriminals Are Counting on You Letting Your Guard Down During This Global Pandemic – Here’s How to Stop Them
As my first year as chamber president comes to a close, I want to take this opportunity to thank you for your enthusiasm, contributions, new ideas and volunteer leadership that makes the Morris County Chamber of Commerce one of the best business associations in the state and country! As an organization we are committed to “the infinite game,” as Simon Sinek calls it, and always asking ourselves how we can make the chamber experience even better than before. I am looking forward to continuing to build on the success of 2019, when we welcomed several hundred new members and also four new team members. I appreciate all your dedication to the chamber’s mission, especially during this time of change, to work collaboratively to advance your interests and champion a thriving business and community environment.
There are numerous ways to get involved with the chamber in 2020 and engage with fellow members, whether through one-to-ones, attending one of the 10 committees or educational seminars, being a mentor or mentee through MentorMorris, participating in the Leadership Morris program, attending signature events such as the Economic Outlook Lunch or taking advantage of networking opportunities included as a benefit of membership, including Business Connections and Networking After Work. If you are looking for more ways to get value from your membership, please reach out to the director of member relations, Mary Ellen Peters at firstname.lastname@example.org.
The incoming committee chairs are committed to working with each other, recognizing that collaboration is key to making the members’ circles of influence grow and creating opportunities to build relationships and trust that lead to business. On the horizon are exciting new programs, including the launch of the Young Professionals Committee expansion into the RiseMorris program and the Health & Wellness Committee’s Get Fit Morris program, nonprofit/civic spotlight opportunities, the Not for Profit small business conference room sponsorship and the Council Initiative, to name a few. I am also excited about the collaboration between the chamber and the Morris County Economic Development Corporation (MCEDC), including a new program to create or re-evaluate your business plan with Ed Ramirez, the new director of business resources at MCEDC.
Please reach out to Ed at eramirez@ morriscountyedc.org to schedule a time to meet. Members such as you tell me they not only meet customers and collaborative partners at the chamber but also members who can provide valuable services and advise them as they grow their business. Thanks to you the chamber is a vibrant and valuable organization. At a hundred years young, we are still adapting to new ways to network and connect through technology and we are excited to unveil new resources on our website in 2020.
Finally, thank you for your warm welcome, for challenging me, for your honest feedback and, above
all, for making my first year as president of the chamber successful and enjoyable. I look forward to an equally exciting and productive 2020. I wish you and yours a joyous and safe holiday season and I look forward to seeing you in the new year at the Annual Meeting on January 24!
Author: Deborah Gussoff, In Order Inc
Stock Up On Basic Supplies. Yes, I know that’s becoming more challenging as grocery stores and online merchants like Amazon are experiencing depleted supplies of soap, toilet paper, and disinfectants.
The shelves were bare at my local grocery store yesterday
However, you should be able to purchase groceries without too much trouble. While large quantities of cookies and chocolate may seem like the antidote to stress, I encourage you to opt for choices that pack a nutritional punch to ensure you consume vitamins and minerals, fiber, antioxidants, and protein needed to support your immune system.
Author: John Allen Mollenhauer CPLC, RegenUs Center
1. Right now, immunity is the name of the game, so build it up!
This past Saturday night, my team and I held the Grand Opening of RegenUs Center in Florham Park NJ. Only forty-five people out of 145 that signed up, showed up. This was about 1/3 of what was expected. Had the event been planned for this week, it wouldn’t have happened at all. We would have had to call it off because of curfews, social distancing and not being able to congregate in groups larger than 10 people.
So, you may be wondering why we continued to hold our event in the face of all that was, and is still, happening.
By John Allen Mollenhauer, RegenUs Center
In today’s day and age of hypergrowth, there is a hidden challenge that is distracting and holding us back as entrepreneurs, small business owners, service professionals, and executives—most of whom are also working parents—from performing at our best. It’s excessive stress that results in constant tiredness, which turns into daily, end-of-day exhaustion and ultimately into fatigue, which for some of us can becomes chronic.
Author: Christopher Reardon
A new dynamic has taken hold at the Morris County Chamber of Commerce – the mentor- mentee relationship. The chamber recently launched the MENTOR MORRIS initiative, which is intended to leverage the invaluable experience and knowledge of older members for the benefit of younger professionals. Yet a funny thing happened – the mentors are getting just as much out of the program as are the mentees.
Author: Christopher Reardon
In 1912 the two-person law firm King & Vogt opened its doors on the Morristown Green. One hundred seven years later Schenck, Price, Smith & King is home to 82 attorneys in Florham Park, Sparta, Paramus and Manhattan and has served more than 31,000 clients. Their first, Franklin Mutual Insurance, remains with the firm. Longevity and service are the hallmarks of Schenck, Price, Smith & King, which, in 2018 with the rollout of its new logo, became known as Schenck Price.
The days of Norman Rockwell-like doctors with black bags making house calls are forever gone, but the Morris County community still has access to exceptional, personal health care with one of the top hospitals in the nation at its core. Morristown Medical Center, part of Atlantic Health System, is redefining how health care is provided to the tens of thousands of people who look to the hospital each year to keep them healthy or treat them when they are in need.
Please Note: The views and opinions expressed here are those of the authors and do not necessarily reflect the position of the Morris County Chamber of Commerce.
Morris County Chamber of Commerce
325 Columbia Turnpike - Suite 101
Florham Park, NJ 07932 (MAP)
Our Mission: The Morris County Chamber of Commerce collaboratively advances the interests of its members to champion a thriving business and community environment.
Our Vision: Creating member experiences that foster exceptional business success and quality of life.