Day: November 7, 2018

CHICOPEE — The board of trustees at Elms College have appointed a number of notable figures to be new members of the board.

“These new trustees bring a wide range of perspectives and experience to the board and will help Elms College find greater success as we move into the future,” said Cynthia Lyons, board chair.

The new trustees are Beth Anderson, founder and CEO of Phoenix Charter Academy Network; Pascale Desir, chief legal officer of Way Finders; Dr. Jose Fernandez, co-owner of Sunrise Behavioral Health Clinic; Mark Fulco, president of Mercy Medical Center; Steven Gobel, first vice president of Morgan Stanley; Fawwaz Habbal, executive dean for Education and Research and senior lecturer at the Paulson School of Engineering and Applied Sciences at Harvard University; and Richard Sullivan Jr., president and CEO of the Western Massachusetts Economic Development Council.

“I am really pleased with the new board members’ diversity of backgrounds, level of experience and accomplishments, and commitment to Elms College,” said Harry Dumay, president of the college. “I look forward to working with them to advance the mission and vision of the institution at this exciting moment in our history.”

BOSTON — Business confidence in Massachusetts declined to its lowest level in 17 months during October as the uncertainties that roiled global financial markets seeped into employer outlooks.

The Associated Industries of Massachusetts (AIM) Business Confidence Index lost 1.6 points to 61.0 last month, the fourth decline in the last five months. The reading remains well within optimistic territory, but the BCI now sits 1.7 points lower than its level of a year ago and at its lowest point since May 2017.

Raymond Torto, chair of AIM’s Board of Economic Advisors (BEA) and lecturer at Harvard Graduate School of Design, said the October decline is noteworthy because of large declines in employer confidence in their own operations, and among manufacturers.

“Fears about slowing growth, trade wars, and rising interest rates buffeted financial markets this month, and some of those same fears, combined with an increasingly acrimonious midterm election, affected employers as well,” Torto said. “The good news is that the fundamentals of the economy remain strong. MassBenchmarks reports that the Massachusetts economy grew at a 3.3% annual rate during the third quarter, and the national economy added 250,000 jobs last month.”

The AIM Index, based on a survey of Massachusetts employers, has appeared monthly since July 1991. It is calculated on a 100-point scale, with 50 as neutral; a reading above 50 is positive, while below 50 is negative. The Index reached its historic high of 68.5 on two occasions in 1997-98, and its all-time low of 33.3 in February 2009. It has remained above 50 since October 2013.

The constituent indicators that make up the overall Business Confidence Index were almost all lower during October. The one exception was the Massachusetts Index assessing business conditions within the Commonwealth, which rose 0.2 points to 64.7. Confidence in the state economy has declined 0.4 points since October 2017.

The U.S. Index lost 2.0 points to 61.6, leaving it 0.9 points lower than a year ago. The Company Index, measuring employer assessments of their own operations, dropped 2.0 points to 59.6, down 2.4 points year-to-year. The Employment Index lost 0.3 points during October, while the Sales Index tumbled 3.1 points to 57.4.

The Current Index, which assesses overall business conditions at the time of the survey, fell 1.0 point last month to 63.3 and 0.3 points for the year. The Future Index, measuring expectations for six months out, lost 2.1 points for the month and 3.2 points for the year.

Non-manufacturers (61.7) were slightly more optimistic than manufacturing companies (60.3). Companies in the eastern part of Massachusetts (61.7) were more bullish than those in Western Mass. (60.3). Medium-sized companies (62.1) registered higher confidence readings than either large companies (59.5) or small companies (60.6), an unusual result since large companies typically show the most optimism on the Index.

Katherine Kiel, professor of Economics at the College of the Holy Cross in Worcester and a member of the BEA, suggested that large companies may be particularly concerned about the ratcheting up of trade tensions between the U.S., China, and other trading partners. “Employers responding to the survey are expressing fears about the potential effects of rising tariffs both on the price of raw materials and their ability to expand overseas markets.”

AIM President and CEO Richard Lord, also a BEA member, agreed that international trade friction and uncertainty about the duration and scope of new tariffs are clouding employer views of an otherwise solid economy. “Concerns about trade and tariffs are likely to influence employer decisions as we move toward the end of 2018 and into the New Year. Hopefully, the results of the midterm elections will shed some light on the direction of trade policy moving forward.”

LONGMEADOW — Bay Path University’s master of science (MS) in accounting program has been named seventh on a list of the top 50 best in the nation, as ranked by OnlineMasters.com. In addition to this placement, Bay Path’s program was also recognized as the “Most Accelerated Program.” This is the program’s second placement on a national best-of list this year alone.

“We’re so pleased that the master of science in accounting at Bay Path University was recognized once again for the quality education and career preparation it provides to students,” said Kara Stevens, assistant professor and director of Accounting programs. “Students who graduate from our program are ready to hit the ground running in their chosen accounting industry upon graduation, which many are able to achieve in under one year.” 

According to the site, the review assessed academic quality, student success, and affordability. Researchers devoted more than 90 hours to analyzing every online master’s in accounting program in the U.S., and consulted 35 industry experts, hiring managers, current students, and alumni.

SPRINGFIELD — The fourth installment of the BusinessWest lecture series Future Tense, titled “Power of the Pause,” will take place on Thursday, Nov. 8 from 8 to 9:30 a.m. at Tech Foundry, 1391 Main St., ninth floor, Springfield.

The lecture, open exclusively to CEOs and business owners, will be delivered by Moira Garvey, senior consultant and facilitator with the Potential Project, and Susan O’Connor, vice president and general counsel at Health New England. The cost is a $25 donation to Tech Foundry. Event sponsors include Paragus IT, the Jamrog Group, and Meyers Brothers Kalicka, P.C.

It’s not easy managing in today’s fast-paced, complex, dynamic work environments. Leaders are required to remain focused in the face of a myriad of commitments, have clarity of mind, ensure they are doing the right things (not just doing ‘things’), and maintain calm in the midst of daily storms. But what if we as leaders could hit the ‘pause’ button during our day, step back, and meet challenges with a sense of space, clarity, and focus? What if there was a way to not just get things done, but ensure that what does get done connects us with ourselves, with the people we work with, and, ultimately, with our organization’s deepest values?

Mindfulness is a compelling tool for performance, teamwork, and effectiveness as well as presence, kindness, and balance. Garvey will share why mindfulness is relevant in the workplace and why companies around the globe are incorporating mindfulness to support workplace performance and employee well-being.

In this session, you will also hear how Springfield-based Health New England brought mindfulness training to its associates. In 2015, HNE ran a pilot to enhance its high-performance culture, with 30 leaders participating in a four-month course. HNE leadership knows the key to success is the ability to work at a high level of mental effectiveness, while also remaining resilient in the face of stress. In many industries, including healthcare, the velocity of change, competition, and complexity are constant challenges. Since the successful pilot, HNE has continued to invest in mindfulness training as a way to fortify a culture of high performance that is focused and intentional. In 2017, 63% of the participants held leadership positions.

In the foundational session, Garvey will provide an overview of the nature of the mind and attention, while sharing information on the most recent scientific findings regarding how the brain works and how it can be rewired to enable us to be more focused, calm, and effective at work every day. She will teach a basic mindfulness practice and offer a focus strategy for immediate application.

Metered street parking is available near the venue, and there are several parking-garage options nearby as well. To register, visit businesswest.com/lecture-series-2.

SPRINGFIELD — On the morning of Oct. 5, during the Western Mass Stand Down at the Greek Culture Center in Springfield, Paul DiGrigoli accepted an award from the Western Mass. Bilingual Veterans Outreach Center on behalf of DiGrigoli School of Cosmetology for its continued support of homeless and needy veterans in the community.

The school, located on Riverdale Street in West Springfield, offers free haircuts to all veterans and active service members year-round, and has participated in several veteran-honoring events since opening its doors in 2002.

“I’m only here to pick this plaque up,” DiGrigoli said. “This award truly belongs to my staff and all of our students. Since 2004, we have offered free haircuts to all veterans and active military personnel on all the days that our school is open — not just on Veterans Day. Thank you for giving us our freedom.”

The Western Mass. Bilingual Veterans Outreach Center, headquartered on Franklin Street in Springfield, operates with the mission of serving veterans once out of uniform, regardless of race, gender, or nationality. Most recently, it built 20 apartments for homeless veterans in Springfield and has continually offered financial and job services, healthcare, clothing, and other support.