Daily News

SPRINGFIELD — The third annual Pioneer Valley Conference for Women will be held Thursday, May 9 at Marriott Springfield Downtown from 7:30 a.m. to 5 p.m. The conference will be held in person and virtually. This year’s theme is “Unleashed.”

Christina Royal will serve as emcee for the conference. The former president of Holyoke Community College, Royal is now president and CEO of Infinite Unlearning LLC, a woman-, BIPOC-, and queer-owned executive coaching and consultancy service supporting mid- to senior leaders and their organizations. Her goal is to educate leaders on a new paradigm of the future of work and help them shed their limiting beliefs and lead from a place of potential.

Keynote speakers are Meghan Rothschild, president and owner of the marketing and public-relations firm Chikmedia, and Jessika Rozki, founder of Rozki Rides, a transportation service focusing on children and seniors.

Rothschild is an award-winning business owner, public speaker, and social influencer. As a speaker, she is known for engaging audiences on topics such as social media, marketing strategy, public relations, women in business, melanoma survivorship, and living with endometriosis.

A regular contributor to The Rhode Show and WWLP’s Mass Appeal, Rothschild is the host of iHeart Radio’s Pioneer Valley Communities, where she shares professional tips from social branding to lifestyle marketing and public-relations strategies. She is also a professor of Social Media, Personal Branding, and PR Campaigns at Springfield College and Southern New Hampshire University.

Rozki’s career in transportation began 15 years ago as a school-bus driver in Chicopee. In 2019, with the resolve to balance her professional aspirations and family life, she launched Rozki Rides. Based in Greater Springfield, the company started as a professional transportation service catering primarily to families.

Rozki Rides differentiated itself by focusing on children and seniors, segments often overlooked by traditional transportation services. In its first year, the company served more than 100 families, a number that continued to grow as the company expanded its services to include daycares and summer camps.

The conference will also feature 10 different panels that women can choose to attend in the morning and afternoon. The 30 panelists are all local women. Dianne Fuller Doherty will be presented with the Goddess Award, recognizing her many years of volunteer work on behalf of women. A comedy kickoff reception the night before the conference will feature comedian Jess Miller.

Click here for more information or to purchase tickets. Event sponsors include M&T Bank, Westfield Bank, Liberty Bank, Country Bank, and USI.

Daily News

Lauren Tabin

EASTHAMPTON — bankESB recently hired Lauren Tabin as assistant vice president, branch officer of its King Street, Northampton office.

Tabin has nearly 30 years of banking experience. Prior to joining bankESB, she was assistant vice president, branch officer at PeoplesBank, and previously held various other positions there, including banking center manager, branch officer, trainer, and teller. She brings an extensive background in management and leadership experience to her new role, where she will manage the Northampton office team while remaining engaged in the community.

Tabin currently serves on the board of the Holyoke Chamber of Commerce and the Rotary Club, and previously served on the board of Black Horse Trust, the Miracle League of Western Massachusetts, the Holyoke Merry-Go-Round, and Providence Ministries. She is a member of BusinessWest’s 40 Under Forty class of 2011.

Daily News

Jack Dill

CHICOPEE — Elms College announced that three prominent leaders in the region have joined the college’s board of trustees.

John (Jack) Dill is the president and principal of Colebrook Realty Services and has been negotiating real-estate transactions on behalf of his clients — buyers, sellers, property owners, and tenants — for more than three decades. He holds the counselors of real estate designation, along with other professional designations and licenses in the fields of real estate, finance, and construction, and is a fellow of the Royal Institution of Chartered Surveyors.

Ashley Vanesse

Dill has been an active supporter of more than 20 local nonprofits, including Elms College, and is currently vice chairman of the Fallon Community Health Plan board of directors and a member of the Massachusetts Housing Investment Corp. He earned his bachelor of arts degree cum laude from Williams College.

Ashley Vanesse is the president of the Elms College Alumni Assoc. and has been a member of the association since graduating from the Elms in 2011. She is currently office manager for Barry J. Farrell Funeral Home and also held various positions in the Elms College Admission Office. She earned her bachelor’s degree in history from Elms College and her master’s degree in psychology and school counseling from Westfield State University.

Lisa Wills

Lisa Wills is a partner at Whittlesey, one of the largest regional CPA and IT consulting firms in New England. She has worked primarily with nonprofits over her 25-year career and is an expert in complex audits. She is a licensed certified public accountant with the state of Connecticut and an active member of the American Institute of Certified Public Accountants, as well as the Connecticut Society of Certified Public Accountants (CTCPA). In addition, she is a recognized industry leader and frequent speaker on topics such as FASB changes and female leadership. She earned her bachelor’s degree in accounting and business administration from Elms College in 1988.

Daily News

SPRINGFIELD — American International College (AIC) announced it has earned the 2024-2025 Military Friendly School and Military Spouse Friendly School designations.

Institutions earning the Military Friendly School designation were evaluated using both public data sources and responses from a proprietary survey. More than 1,800 schools participated in the 2024-25 survey, with 537 earning special awards for going above the standard.

The 2024-25 Military Friendly Schools list will be published in the May and October issues of G.I. Jobs magazine and can be found online at www.militaryfriendly.com.

“Receiving the 2024-25 Military Friendly School Designation is a testament to our unwavering commitment to supporting our military-affiliated students in their academic pursuits and beyond,” said Michael Dodge, AIC’s executive vice president for Academic Affairs. “We are honored to be recognized for our dedication to providing a supportive and inclusive environment for military-connected students as they pursue their educational goals at American International College.”

Methodology, criteria, and weightings were determined by Viqtory with input from the Military Friendly Advisory Council of independent leaders in the higher-education and military-recruitment community. Final ratings were determined by combining the institution’s survey scores with the assessment of the institution’s ability to meet thresholds for student retention, graduation, job placement, loan repayment, persistence (degree advancement or transfer), and loan default rates for all students and, specifically, for student veterans.

“Military Friendly is committed to transparency and providing consistent data-driven standards in our designation process,” said Kayla Lopez, national director of Military Partnerships at Military Friendly. “Our standards provide a benchmark that promotes positive outcomes and support services that better the educational landscape and provide opportunities for the military community. This creates a competitive atmosphere that encourages colleges to evolve and invest in their programs consistently. Schools who achieve awards designation show true commitment in their efforts, going over and above that standard.”

Community Spotlight

Community Spotlight

Rachel Rosenbloom and her husband, Michael Bedrosian

Rachel Rosenbloom and her husband, Michael Bedrosian, named their brewery Seven Railroads in a nod to Palmer’s rich rail history.

 

Palmer is known to many as the Town of Seven Railroads, a nod to a very rich history as a transit center.

Indeed, several passenger and freight rail lines ran though the community at one time, most notably the Boston & Albany, which ran east-west between the two cities, and the Central Vermont, which ran north-south from the Canadian border to New London, Conn., with those two railroads sharing Union Station, an elegant structure designed by noted architect Henry Hobson Richardson.

Today, rail is still part of the town’s character, with five rail lines still running through the community, a renovated Union Station now serving as home to the popular Steaming Tender restaurant, and a new brewery — called, appropriately enough, Seven Railroads Brewing — opening its doors on Route 20 just a few weeks ago.

Passenger rail service in Palmer ceased back in the 1970s, when Amtrak closed Palmer’s station, leaving few who can recall first-hand that important aspect of the town’s history — and psyche.

But all that could be changing in the not-too-distant future.

The Massachusetts Department of Transportation has recommended Palmer as a stop on the proposed east-west passenger rail service, and is now in the process of studying and eventually selecting a site for a new rail station.

There is no timetable for when that service will start, but the DOT’s backing of Palmer as a stop is generating high levels of excitement and anticipation in the community, said Town Planner Heidi Mannarino, noting that she is already seeing more interest in the town and some of its available real estate from the development community. Overall, she and others are enthusiastic about what a rail stop will mean for the existing business community and ongoing efforts to grow it.

“I’ve already seen more people purchase land and start to eyeball Palmer,” she said, “because once you hear that news … it’s just so valuable to have that kind of public transportation available.

“Rail will be a great boost for economic development in downtown Palmer,” she went on. “It’s going to bring a lot of business in, and I think it’s going to bridge some econimic gaps between Springfield and Boston.”

Indeed, passenger rail service is expected to change the overall profile of this community, situated roughly halfway between Springfield and Worcester off exit 63 (formerly exit 8) of the Mass Pike. Palmer’s location has always been considered close to the state’s second- and third-largest cities, but, in the eyes of some economic-development leaders, not close enough.

Rail will bring the community closer to both — and also closer to Boston and all of Eastern Mass., said John Latour, Palmer’s director of Community Development, noting that the proposed service will enable people to live in Palmer and work in Boston and surrounding communities, adding that remote work has already brought some to the town as they seek to escape the sky-high prices for real estate, childcare, and everything else in Greater Boston. And rail service should bring more.

“Whether they’re working fully remote or going to the office a few days a week, it still makes sense for people to live in a community like Palmer and commute,” he said, adding that, while some already commute from Palmer to Greater Boston, rail service will be a better, safer alternative that will enable people to work while they commute.

East-west rail is easily the biggest developing story in Palmer, but there are others, said Mannarino, listing early-stage construction of a new strip mall near the Big Y off the turnpike exit, one that is expected to bring a Starbucks, Jersey Mike’s, and other major brands to the community; the new brewery (much more on that in a bit); and ongoing efforts to repurpose two closed schools, Thorndike School and Converse School, for housing — a need in this community as in most all cities and towns in the 413 and other parts of the state.

“There’s a deficiency of affordable housing in most communiies, and Palmer is no exception,” she said, adding that the need for senior housing is most acute, and one that could be eased by converting the two schools for that use.

For this, the latest installment of its Community Spotlight series, BusinessWest takes an in-depth look at Palmer and how several initiatives, and especially east-west rail, are seemingly on track.

 

Coming to a Head

They call it ‘Old Exit 8.’

That’s the name that Rachel Rosenbloom and her husband, Michael Bedrosian, owners of Seven Railroads Brewery, gave to a New England IPA that has become one of their most popular offerings.

It comes complete with a tagline — “We don’t know what exit nunber we are anymore, and we don’t care to find out” — and Rosenbloom said the brew, and its tagline, speak to how this brewery operation, unlike most of the others in this region, is mostly about a town and its people. And they are among them, living just a few minutes from their taproom.

“It was designed to be a place where people, and especially those from Palmer, can come and hang out,” she said, adding that, in the few weeks it has been open, it has become just that.

For Rosenbloom, who by day is head brewer at Fort Hill Brewery in Easthampton (although not for much longer as she works toward making her venture a full-time endeavor), and Bedrosian, Seven Railroads is a dream now close to three years in the making.

It took that long to find a location (a building on Route 20 that was once home to a trucking operation and other businesses and actually has rail tracks running behind it), secure the necessary permits and licenses, build out the space, and open the doors.

“It was a long journey, but it was well worth it,” she said, not once but several times, noting that the brewery is off to a solid start, drawing a mix of locals, students from the nearby Five Colleges, and a number of other brewers who have come in to welcome the latest addition to the region’s growing portfolio of craft breweries.

In most respects, Roenbloom said, all that competition is good — for the region, for beer lovers, and even the various breweries, because it creates a critical mass that makes the region a craft-beer destination.

Meanwhile, Seven Railroads is on an island of sorts, she went on, adding that it is the only brewery in Palmer — in fact, the only one within 25 minutes of the center of the community — giving it some breathing room.

Thus far, things are going pretty much according to the business plan, said Rosenbloom, noting that Seven Railroads has become part of a growing restaurant and hospitality scene in Palmer, with many patrons stopping in before or after visiting one of several restaurants in town, including the Steaming Tender, Figlio’s, Tables, Day and Night Diner, and others. And she expects that rail service might bring more additions to that list and, overall, more people to Palmer.

 

Next Stop: Palmer

Indeed, while the rail stop is expected to encourage people to live in Palmer and perhaps work in Boston, it could also bring more people from Boston and other parts of the state to this community and those around it, said Lavoie, adding that, while the turnpike already brings visitors to exit 63, rail service will bring even more convenience.

Elaborating, he noted that students at UMass Amherst and the other Five Colleges could take the east-west rail service to Palmer and then take a bus or an Uber to those institutions.

“There will be more connectivity,” he said, adding that this quality will bring many benefits, especially a greater ability to commute from Palmer and surrounding towns to other parts of the state.

“You can take the Mass Pike, but it will be more conducive for more people to take the rail and not risk delays or inclement weather; it’s a safer mode of travel,” Lavoie told BusinessWest, adding that professionals can commute and work at the same time.

Meawhile, at a time when fewer young people are married to the notion of owning and maintaining a car, a community with a rail stop, and especially one with home prices several notches (at least for now) below those in Eastern Mass., moves toward the top of their places to live, work, or both.

“In essence, you’re pushing the bedroom community of the business hub of Massachusetts [Boston] further west, and anything that’s occuring in the Springfield area, you’re pushing that bedroom community further east,” he explained, adding that rail can only help amplify this trend.

Mannarino agreed, noting that one of the next steps in the process of making rail a reality in Palmer is finding a site for a new station. A committee of town officials and residents is being assembled to work with Andy Koziol, the recently named director of East-West Rail, and MassDOT on that assignment.

Several sites have been proposed, Mannarino said, listing the land near the Steaming Tender and DPW property off Water Street among the contenders. “The goal is to choose the one that’s most feasible and makes the most sense. Each of the sites has caveats.”

There is no timetable yet for east-west rail or Palmer’s stop on this highly anticipated transit initiative, and residents and town officials understand that it will likely be several years before the first trains stop in town. But the general consensus is that, after years of lobbying and pushing for this facility, it is now becoming real, and the question, increasingly, isn’t if, but when.

That means this town with a deep rail past is set to write an exciting new chapter in that history.

Sports & Leisure

Net Positives

sellout crowds at Thunderbirds home games this

Adam Gaudette, the AHL’s leading goal scorer, has entertained a record number of sellout crowds at Thunderbirds home games this season.
Photo by Lucas Armstrong

 

When Nate Costa spoke with BusinessWest recently about the Springfield Thunderbirds’ 2023-24 season, the team was in a pitched battle for the final playoff spot in the American Hockey League’s Atlantic Division, a fight that could go either way as the campaign winds down this month.

But in many ways, this season has already gone the right way. Very right.

Start with attendance, which, at press time, had produced a franchise record-tying 15 sellouts, including nine in a row.

“The year has been really successful, especially on the business side,” said Costa, the team’s president since its inception in 2017. “We’re right in the thick of the playoff hunt, and we’re trying to stay in contention for the playoffs. But beyond that, the business side has been tremendous. Our staff has done a really fantastic job.”

Start with group sales, which topped $1 million this year, and more than 1,500 season ticket holders; the previous hockey franchise in Springfield, the Falcons, would typically put up around $400,000 in group sales and 400 season tickets. Both elements are critical, Costa said, in selling out the MassMutual Center each night. “When you’re trying to sell 7,000 tickets, you can’t just sell them on a game-by-game basis.”

On some sellout nights, he said, group sales — which typically involve organizations providing an experience for clients, employees, or area young people — account for more than 50% of the tickets.

“We’ve seen the growth and impact. We know what we’re doing internally, but we wanted to be able to quantify it.”

“So we’re getting a ton of kids here who maybe aren’t into hockey, and they’re checking out what we’re doing. And at the end of the day, they have a great time coming out to the games, feeding off the experience in the building. We’ve played really well at home this year and had some really exciting games.”

Part of that experience, he was quick to add, has been a slate of promotions mixing new offerings with growing traditions like Pink in the Rink (a fundraiser for Rays of Hope), Pucks N’ Paws, Mayflower Marathon Night, Springfield Ice-O-Topes Night, Throwback Night, Hometown Heroes Night, and Military Appreciation Night.

“These are staple nights now that we’re going to continue to build on year after year, with new giveaways,” Costa said. “Fans gets a custom experience — and then, oh, by the way, it’s the second-best hockey in the world happening on the ice.”

Having worked in the AHL for a long time, Costa believed from the time he took the reins in Springfield that a first-class experience at the games, coupled with the hard work of his sales and marketing staff and an ambitious slate of community outreach (more on that later), the franchise could see the success it’s experiencing now.

“I remember saying we can be a standard bearer for the American Hockey League, that we can get to 6,000 a game. And the general feeling when I took over was that it would be challenging to reach that number. But I knew we could get there.”

And now, well beyond.

 

Meeting Their Goals

The team’s impact has been felt far beyond the ice. Last fall, the Thunderbirds released the results of a comprehensive economic-impact study conducted by the UMass Donahue Institute that shows the team’s operations had generated $126 million for the local economy since 2017.

The study included an analysis of team operations data, MassMutual Center concessions figures, a survey of more than 2,000 T-Birds patrons, and interviews with local business owners and other local stakeholders. Among its most critical findings, the study shows that the T-Birds created $76 million in cumulative personal income throughout the region and contributed $10 million to state and local taxes.

Nate Costa

Nate Costa says many were skeptical of his initial goal of drawing 6,000 fans to the MassMutual Center each night, but most home games now attract around 7,000.

The impact on downtown Springfield businesses is especially profound. Seventy-eight percent of T-Birds fans spend money on something other than hockey when they go to a game, including 68% who are patronizing a bar, restaurant, or MGM Springfield. The study also found that median spending by fans outside the arena is $40 per person on game nights and that every dollar of T-Birds’ revenue is estimated to yield $4.09 of additional economic activity in the Pioneer Valley.

“I can’t say enough about the Thunderbirds,” said Mary Kay Wydra, president of the Greater Springfield Convention & Visitors Bureau. “They keep downtown hopping in the dead of winter. I happen to live downtown, and I know when it’s gameday downtown because the streets are busy.

“I think they’ve really made Springfield a hockey town,” she added, before noting some of the direct economic impact. “They drive hotel room nights. You have people coming in from Wilbraham, Longmeadow, Northampton, whatever, they’re probably going to grab a bite to eat downtown or maybe grab a drink after the game. So there’s a huge impact on our economy when the Thunderbirds play.”

Costa agreed. “We had a feeling we were making a significant impact when you come downtown on one of the game nights and seen the city traffic back up on Columbus, people walking around downtown, all the activity and life downtown. They’re coming to the game, but going out to dinner first, then having a drink afterward.”

Part of the reason the team wanted to quantify the impact with the Donahue Institute study was to show the city and state that the team — and its home, the MassMutual Center — are worth further investment.

“It’s a little challenging that we don’t control the product, but at the end of the day, we’re controlling the experience.”

“We’ve seen the growth and impact. We know what we’re doing internally, but we wanted to be able to quantify it,” Costa said, adding that the team is a main reason why the dilapidated parking garage next to the arena was torn down and is being rebuilt.

“Without the bodies at the games and this much activity, it was more of a risk, but there was a lot of confidence on the city and state side that what we were doing as the main tenant in this building was tremendous.”

The T-Birds’ economic impact also translates into jobs throughout the region. Since the team’s inaugural season, it has doubled the number of jobs created from 112 in 2017 to 236 in 2023. The study estimates that income per job created by the T-Birds is approximately $76,000 for the Pioneer Valley and that each job at the Thunderbirds creates or supports 3.28 other jobs elsewhere in the Pioneer Valley.

Costa said he, Managing Partner Paul Picknelly, and the rest of the ownership group always believed this success was possible.

“We knew what we were taking on. We knew we’d have to set up the business the right way and invest the right way, and I have to give credit to the ownership who allowed me to invest the right way, staff up, do the game promotions and theme nights.”

 

Community Assist

In addition to supporting local businesses, the Thunderbirds have been dedicated to making a difference in the community. In 2018, the team established the nonprofit T-Birds Foundation to support local initiatives in the areas of health and wellness, youth enrichment, and civil service.

To date, the foundation has made more than $300,000 in contributions to organizations and charitable events throughout the Pioneer Valley. Meanwhile, team players, personnel, and mascot Boomer have combined for more than 1,700 appearances since 2016.

“This year, we’ve done over 200 appearances by Boomer. And the players are out every day,” Costa said, through efforts like a reading program and youth hockey initiatives. A couple weeks ago, the team even made its first appearance in the Holyoke St. Patrick’s Day Parade. “So there are still things we’re unveiling that we haven’t been doing, really good stuff to continue to build on our visibility.”

Wydra praised those efforts to engage the community, both on and off the ice.

“I think Nate and his team have done a great job of making that team all about family entertainment, and it’s more than just the product they put on the ice. I mean, when they’re winning, it’s a great thing; everybody loves to support a winning team. But they’ve been so creative, the way they interact with the community and the different types of game events they do, the promotions.”

The 2023-24 season has been an up-and-down affair, marked by injuries and, of course, a number of call-ups to the NHL St. Louis Blues, including the head coach, Drew Bannister.

“Almost half the [opening-day] roster is now playing meaningful minutes in St. Louis,” Costa said. “That part of the connection is really positive. It’s a little challenging that we don’t control the product, but at the end of the day, we’re controlling the experience. And the Blues have done a good job sending us a team that’s exciting.”

Indeed, center Adam Gaudette leads the entire AHL in goals scored, and the team, in general, has been high-scoring and fun to watch, Costa added. The team also ranks third in the league in percentage to capacity, meaning the percentage of total seats in the arena that are sold each night.

“That’s a real barometer for our success, and it’s probably creating some urgency and demand in the marketplace,” he said. “Our building size is perfect for the American Hockey League market. We see the dichotomy in Hartford. They’ve got a big building, and they’ve done a nice job this year; they’ve taken a look at what we’re doing in Springfield and adopted some best practices that we do here. And that’s helped their attendance. But they’ve got a 15,000-seat building, and it’s not as easy to create the atmosphere.”

An energetic fan experience, robust community support, quantifiable economic impact, and soaring ticket sales — that’s a recipe for success for any hockey team, whether it makes the playoffs or not.

Autos

Change of Direction

A growing number of consumers across the U.S. are finding themselves upside down on their car loans as the used-vehicle market continues to stabilize and used values dwindle, according to the latest Edmunds Used Vehicle Report. Among the findings:

• Used-car values continue on a downward trend. The average transaction price (ATP) for all used vehicles in the fourth quarter of 2023 dipped to $28,371, a 4.4% decrease from $29,690 in Q4 2022.

• Trade-ins with negative equity are on the rise, as 20.4% of new vehicle sales with a trade-in had negative equity in Q4 2023 — the highest in two years — compared to 17.7% in Q4 2022 and 14.9% in Q4 2021.

• Consumers who are upside down on their auto loans owe more than ever before. The average amount owed on upside-down loans climbed to a record high of $6,064 in Q4 2023, compared to $5,347 in Q4 2022 and $4,143 in Q4 2021.

“A storm is brewing in the used market as incentives and inventory continue to trickle back into the new-vehicle market,” said Ivan Drury, Edmunds’ director of insights. “With demand for near-new vehicles on the decline, used-car values are depreciating similarly to the way they did before the pandemic, and negative equity is rearing its ugly head.”

Edmunds analysts note that consumers who paid above MSRP for a new vehicle during the pandemic are the most vulnerable to falling underwater on their car loans because their newer tradeins are the most susceptible to dramatic decreases in value.

According to Edmunds data, one- and two-year-old vehicles are experiencing the most significant drops in value compared to older used vehicles. Compared to Q3 2022 (when used vehicle values were at their peak), Edmunds data reveals:

• The ATP for one-year-old vehicles in Q4 2023 dropped to $38,720, a $6,763 decrease;

• The ATP for two-year-old vehicles dropped to $32,583, a $3,294 decrease; and

• The ATP for 10-year-old vehicles dropped to $12,447, a $1,304 decrease.

“During the last few years, consumers could jump into new-car loans, and their tradeins were shielded from negative equity because some dealers, desperate for used inventory, were willing to pay near original purchase prices,” Drury said. “These days, consumers need to be more careful — especially if they’re trading in newer vehicles — because near-new cars are being hit the hardest by depreciation.”

Although a downturn in used values is negatively affecting a growing share of new-car owners, Edmunds analysts note that there’s a bright spot for car shoppers with bigger budgets. In an analysis of ATPs of used vehicles up to three years old compared to ATPs for new vehicles, large luxury cars offered an average discount of $48,111 — the greatest dollar savings across all vehicle segments — with new vehicles going for $118,309 compared to $70,198 for used. Large mainstream SUVs also offered a notable average discount of $19,966, with new vehicles going for $76,131 compared to $56,164 for used.

“If you want to save big on used versus new, you still have to be willing to spend big,” said Joseph Yoon, Edmunds’ consumer-insights analyst. “Unfortunately, the most price-sensitive consumers seeking affordable transportation will have a much harder time finding discounts because the supply of older used vehicles is still pretty restricted.”

Looking forward, Edmunds analysts caution that a number of factors influencing used-vehicle prices will make trade-in values increasingly difficult to predict heading into 2024.

“As near-new vehicles sit on dealer lots for longer periods of time and automaker incentive programs continue to change dramatically month to month, dealers will likely be hedging their bets against value reductions as they manage their inventory,” Drury said.

Toward the end of 2023, Edmunds experts issued a number of predictions for the vehicle-sales industry, with 15.7 million new cars to be sold in 2024, a 1% increase from the estimate of 15.5 million new vehicle sales in 2023. Electric-vehicle (EV) market share is expected to tick slightly higher to 8% of total new vehicle sales in 2024, up from 6.9% in 2023.

Still, hybrids remains the more comfortable choice for the majority of Americans seeking electrified options right now. According to Edmunds data, hybrid market share increased to 9.7% in November 2023 from 4.9% the year prior.

Healthcare News

Breathing a Little Easier

About 3.4 million children and 13.6 million adults in the U.S. have been diagnosed with what’s known as immunoglobulin E-mediated (or IgE-mediated) food allergy, causing reactions ranging from mild to moderate (including hives and swelling) to severe and life-threatening, such as anaphylaxis.

More than 40% of children and more than half of adults with food allergies have experienced a severe reaction at least once, and it is estimated that food-related anaphylaxis results in 30,000 medical events treated in emergency rooms in the U.S. each year.

That’s why so many are encouraged by the U.S. Food and Drug Administration’s (FDA) approval of Xolair (omalizumab) injection for immunoglobulin E-mediated food allergy in certain adults and children 1 year or older for the reduction of allergic reactions that may occur with accidental exposure to one or more foods.

Xolair was originally approved in 2003 for the treatment of moderate to severe persistent allergic asthma in certain patients.

“This newly approved use for Xolair will provide a treatment option to reduce the risk of harmful allergic reactions among certain patients with IgE-mediated food allergies,” said Dr. Kelly Stone, associate director of the Division of Pulmonology, Allergy, and Critical Care in the FDA’s Center for Drug Evaluation and Research. “While it will not eliminate food allergies or allow patients to consume food allergens freely, its repeated use will help reduce the health impact if accidental exposure occurs.”

According to the Centers for Disease Control and Prevention, almost 6% of people in the U.S. in 2021 had a food allergy, and exposure to the particular food (or foods) to which they are allergic can lead to potentially life-threatening allergic reactions, such as anaphylaxis.

There is currently no cure for food allergy. Current treatment requires strict avoidance of the food(s) the patient is allergic to and prompt administration of epinephrine to treat anaphylaxis should accidental exposures occur.

Palforzia (peanut allergen powder) is an oral immunotherapy product approved in patients ages 4 to 17 for the mitigation of allergic reactions, including anaphylaxis, that may occur with accidental exposure to peanuts, but its benefits are restricted to peanut allergy. Xolair is the first FDA-approved medication to reduce allergic reactions to more than one type of food after accidental exposure.

“Over the past 35 years, I have seen how debilitating food allergies can be for patients and their loved ones, as they are consumed by the fear of accidental exposure,” said Dr. Robert Wood, director of the Eudowood Division of Allergy, Immunology and Rheumatology at Johns Hopkins Children’s Center and principal investigator of the OUtMATCH study that led to FDA approval.

“While allergic reactions to exposures are common and often severe, there have been limited treatment advancements for food allergy,” he added. “The results of the OUtMATCH study showed that anti-IgE therapy could significantly reduce the occurrence of allergic reactions across multiple foods in the event of an accidental exposure.”

OUtMATCH stands for Omalizumab as Monotherapy and as Adjunct Therapy to Multi-allergen OIT in Food Allergic Children and Adults.

“Living with food allergies has a profound impact on patients and their families, causing significant stress and requiring constant vigilance,” said Dr. R. Sharon Chinthrajah, associate professor of Medicine at Stanford School of Medicine, Sean N. Parker Center for Allergy and Asthma Research, and OUtMATCH co-lead study investigator.

“The OUtMATCH study demonstrated that anti-IgE therapy increased most patients’ threshold for an allergic reaction,” she added. “This presents an important new treatment option for patients and families in its potential to reduce the risk of allergic reactions from accidental exposures they may face in day-to-day life.”

 

Caution Warranted

As noted, Xolair isn’t a cure, and patients who take it must continue to avoid foods they are allergic to. Xolair is intended for repeated use to reduce the risk of allergic reactions and is not approved for the immediate emergency treatment of allergic reactions, including anaphylaxis. There are 160 different foods that cause IgE-mediated food allergy.

Still, detailed results from the OUtMATCH study showed treatment with Xolair increased, for a majority of trial participants, the amount of peanuts, tree nuts, egg, milk, and wheat they consumed without an allergic reaction, dramatically lessening the results of accidental ingestion or cross-contamination.

Xolair is a drug (in the class of drugs called monoclonal antibodies) that binds to IgE, the antibody type that triggers allergic reactions, and blocks IgE from binding to its receptors.

Xolair’s safety and efficacy in reducing allergic reactions in subjects with food allergies was established in one multi-center, double-blind, placebo-controlled study of 168 pediatric and adult subjects who were allergic to peanut and at least two other foods, including milk, egg, wheat, cashew, hazelnut, or walnut. Researchers randomly gave subjects either Xolair or placebo treatment for 16 to 20 weeks.

The primary measure of Xolair’s efficacy was the percentage of subjects who were able to eat a single dose (600 milligrams or greater) of peanut protein (equivalent to 2.5 peanuts) without moderate to severe allergic symptoms, such as moderate to severe skin, respiratory, or gastrointestinal symptoms, at the end of the treatment course.

Of those who received Xolair, 68% (75 of 110 subjects) were able to eat the single dose of peanut protein without moderate to severe allergic symptoms, compared to 6% (3 of 55 subjects) who received placebo. Of note, however, 17% of subjects receiving Xolair had no significant change in the amount of peanut protein tolerated (they could not tolerate 100 mg or more of peanut protein). As a result, continuation of strict allergen avoidance is still necessary, despite treatment with Xolair.

The key secondary measures of efficacy were the percentage of subjects who were able to consume a single dose (1,000 milligrams or greater) of cashew, milk, or egg protein without moderate to severe allergic symptoms at the end of the treatment course. For cashew, 42% who received Xolair achieved this endpoint, compared to 3% who received placebo.

For milk, 66% who received Xolair achieved this endpoint, compared to 11% who received placebo. For egg, 67% who received Xolair achieved this endpoint, compared to none of the 19 who received placebo. As a result, Xolair treatment is approved for certain patients with one or more IgE-mediated food allergies.

 

Optimistic Outlook

In the U.S., Genentech and Novartis Pharmaceuticals Corp. have worked together to develop and co-promote Xolair.

“Xolair offers patients and families an important new treatment option that can help redefine the way food allergies are managed and reduce the often-serious allergic reactions that can result from exposure to food allergens,” said Dr. Levi Garraway, Genentech’s chief medical officer and head of Global Product Development. “We look forward to bringing this treatment to the food-allergy community who have long awaited an advancement.”

Other allergy experts are equally hopeful.

“As more and more people are affected by food allergies, the need for a new approach to help prevent serious and often life-threatening allergic reactions and emergencies is critical,” said Sung Poblete, CEO of Food Allergy Research and Education. “As someone with food allergies, I know firsthand the significant impact they can have on people and their loved ones, and I share in the community’s excitement for this approval.”

Kenneth Mendez, president and CEO of the Asthma and Allergy Foundation of America, added that “the stress of living with food allergies can weigh heavily on people and their families, particularly when navigating events like children’s birthday parties, school lunches, and holiday dinners with friends and family. Given the growing prevalence of food allergies, this news offers hope to the many children and adults who may benefit from a new way to help manage their food allergies.”

Women in Businesss

Navigating the Process

By Jennifer Sharrow, Esq.

 

Women- and minority-owned businesses play a vital role in our local economies. They also play a larger role within communities in general — they serve as gathering places, education centers, and inspiration for future generations of entrepreneurs.

But, much like they represent our community, often largely by reason of the makeup of their ownership, they face challenges of historic and continuing discrimination. This can result in issues with access to capital, less favorable terms in negotiating contracts, and challenges finding suitable office or commercial spaces.

Formal certification as a woman- and/or minority-owned business can help alleviate some of those burdens. There are a number of different organizations that provide this certification. The state of Massachusetts has the Supplier Diversity Office; the U.S. Small Business Administration has the 8(a) Business Development Program and the Women-owned Small Business Federal Contract Program; and there are a number of private groups that issue certifications and provide other support, such as the Women’s Business Enterprise National Council and the National Minority Supplier Development Council.

Jennifer Sharrow

Jennifer Sharrow

“Our women- and minority-owned businesses are already proud of their accomplishments, and now more than ever they deserve to celebrate their status.”

Getting certified brings new opportunities from federal agencies, state and local governments, and certain large corporations, who often designate a percentage of contracts for certified women- and minority-owned small businesses. Certification may open up access to exclusive networking, training, and educational programs for business owners. Certification may also increase eligibility for loans, grants, and programs specifically designated for certified entrepreneurs, such as management and technical-assistance programs.

All certification programs contain similar requirements, and if you’re an owner looking to get certified, you will want to start gathering information about the business, information about you, and information about the ways that you lead the business.

 

The Business

This will include standard documentation that the business is legally operating in good standing. Typical documents submitted about the business include formation documents filed with the secretary of State, governing documents such as the bylaws, financial records, and copies of lease agreements and customer contracts.

It is possible for a newly formed business to get certified, and where certain documentation is unavailable, such as tax returns, the certifying program will generally accept replacement documentation or narrative answers about the business operations.

 

You as an Owner

This will include proof of ownership of the business, such as stock certificates or the operating agreement, showing that the business is at least 51% women- or minority-owned. Additionally, the owner will need to submit personal information in the form of a photo ID, evidence of citizenship, and a résumé.

 

How You Manage the Business

This is very important. The certifications generally require not just 51% ownership, but also that the women and minority owners exert substantial control over the operations of the business. These aren’t programs for propping up a token leader, but instead for acknowledging those who have had to run their business while jumping over additional hurdles due to their race, gender, ethnicity, or other diverse class status.

Evidence for this often takes the form of answering a series of questions on who has the power to make financial decisions; take charge of bidding, negotiation, and signing of contracts; supervise employees, and manage the office.

 

What’s Next

Most programs will involve back-and-forth communication with the program certifiers, and for the Massachusetts Supplier Diversity Office, an investigator is assigned after submission of the application for verification and additional information gathering on the business.

Once approved, in addition to taking advantage of the benefits offered through the programs, the certification gives bragging rights. Our women- and minority-owned businesses are already proud of their accomplishments, and now more than ever they deserve to celebrate their status. A formal certification will only further benefit the business, and when they grow, we all reap the rewards.

 

Jennifer Sharrow is an associate with the law firm Bacon Wilson, P.C. in the Corporate Department, and is licensed to practice law in both Massachusetts and New Hampshire; (413) 781-0560; [email protected]