On the Money with J. Daniel Pluff & Laiza Semidey
On The Money 406
Season 4 Episode 6 | 26m 47sVideo has Closed Captions
Opportunities for the visually impaired, rising rent, Sherrill Manufacturing and Liberty Tabletop.
On this week’s episode, we explore how one organization is providing employment opportunities for the blind and visually impaired. Then, we discuss rising rent prices in Syracuse and surrounding areas. For our Spotlight Series, J. Daniel Pluff sits down with Matt Roberts, CEO and co-founder of Sherrill Manufacturing and Liberty Tabletop.
On the Money with J. Daniel Pluff & Laiza Semidey is a local public television program presented by WCNY
On the Money with J. Daniel Pluff & Laiza Semidey
On The Money 406
Season 4 Episode 6 | 26m 47sVideo has Closed Captions
On this week’s episode, we explore how one organization is providing employment opportunities for the blind and visually impaired. Then, we discuss rising rent prices in Syracuse and surrounding areas. For our Spotlight Series, J. Daniel Pluff sits down with Matt Roberts, CEO and co-founder of Sherrill Manufacturing and Liberty Tabletop.
How to Watch On the Money with J. Daniel Pluff & Laiza Semidey
On the Money with J. Daniel Pluff & Laiza Semidey is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV, Android TV, Android smartphones, Amazon Fire TV, Amazon Fire Tablet, Roku, Samsung Smart TV, and Vizio.
Providing Support for PBS.org
Learn Moreabout PBS online sponsorshipCOMING UP TONIGHT: WE EXPLORE EMPLOYMENT OPPORTUNITIES FOR PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED.
THEN, WE DISCUSS HOW RENT HAS BEEN INCREASING FOR RESIDENTS IN THE SYRACUSE AREA.
AND FOR OUR SPOTLIGHT SERIES, J DANIEL PLUFF SEE'S HOW THE ONLY FLATWARE MANUFACTURING COMPANY IN THE UNITED STATES HAS STAYED IN OPERATION DATING BACK TO THE EIGHTEENTH CENTURY.
♪ ♪ ♪ ♪ GOOD EVENING AND WELCOME TO ON THE MONEY, WCNY'S FINANCIAL AND ECONOMIC DEVELOPMENT PROGRAM - THINK OF IT AS YOUR LOCAL FINANCIAL NEWS PROGRAM FEATURING SOME INTERESTING PEOPLE, BUSINESSES AND HAPPENINGS FROM EVERY CORNER OF CENTRAL NEW YORK.
I'M YOUR HOST, LAIZA SEMIDEY.
DURING OUR SEASON WE'LL SEE WHERE MONEY IS BEING MADE, SPENT AND SOMETIMES LOST AND FOCUS ON PROJECTS AND ACTIVITIES AFFECTING US LOCALLY.
OUR FIRST REPORT TAKES US TO UTICA CABVI THE CENTRAL ASSOCIATION FOR THE BLIND AND VISUALLY IMPAIRED HAS MADE IT THEIR MISSION TO CREATE AN INCLUSIVE WORK ENVIRONMENT THROUGH THEIR ONLINE OFFICE SUPPLY STORE, CLICK ON SUPPLIES.
THIS STOREFRONT PROVIDES EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WHO ARE BLIND OR VISUALLY IMPAIRED, OFFERING ROLES THAT RANGE FROM ASSEMBLING PRODUCTS BY HAND TO MANAGING THE CALL CENTER.
ALL PROCEEDS FROM CLICK ON SUPPLIES GO DIRECTLY TO SUPPORT AND FUND ADDITIONAL PROGRAMS AT CABVI, HELPING TO FURTHER THEIR MISSION OF EMPOWERMENT AND INCLUSION.
>> CABVI IS A SOCIAL ENTERPRISE, LOCATED IN UTICA, NEW YORK.
AND OUR MISSION IS TO HELP PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED BECOME AS INDEPENDENT AS POSSIBLE: WE DO THAT THROUGH MULTIPLE WAYS; PRIMARILY THROUGH OUR REHAB SERVICES THAT WE PROVIDE AND THROUGH EMPLOYMENT.
CURRENTLY WE EMPLOY OVER 100 PEOPLE WHO ARE BLIND.
IN 2000, CABVI GOT INVOLVED IN WHAT ARE CALLED BASE SUPPLY CENTERS AND THOSE ARE RETAIL STORES LOCATED ON MILITARY BASES AND WE OPERATE SIX OF THOSE CURRENTLY.
SO THAT WAS OUR INTRODUCTION INTO RETAIL OFFICE SUPPLY SALES.
BACK ABOUT 3, MAYBE 4 YEARS AGO, WE DECIDED TO EXPAND THAT KNOWLEDGE THAT WE HAVE IN RETAIL OFFICE SUPPLY SALES AND INSTEAD OF JUST OFFERING IT TO THE GOVERNMENT, WE NOW OFFER THAT COMMERCIALLY TO PEOPLE LOCALLY.
ANY REVENUE THAT IS GENERATED THROUGH CLICK ON GETS INVESTED BACK INTO CABVI TO HELP SUPPORT THE SERVICES WE PROVIDE TO PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED.
WE OFFER PEOPLE OR ASSIST PEOPLE WITH MOBILITY TRAINING.
IN OTHER WORDS, WE WILL TEACH PEOPLE WHO ARE BLIND HOW TO USE A CANE OR HOW TO NAVIGATE ONCE THEY'VE LOST THEIR VISION.
ROUGHLY 70% OF PEOPLE WHO ARE BLIND ARE UNEMPLOYED.
AND EVEN IF THEY'RE ABLE TO LOCATE EMPLOYMENT, THE CHALLENGES THAT THEY HAVE ARE ACCESSIBILITY ISSUES, TYPICALLY AROUND COMPUTERS.
SO THERE ARE PLENTY OF PROGRAMS THAT MAKE COMPUTERS ACCESSIBLE FOR PEOPLE WHO ARE BLIND.
WE ACTUALLY RUN A CALL CENTER HERE.
AND IN THE CALL CENTER OUR CUSTOMER SERVICE REPRESENTATIVES ARE WEARING THE TYPICAL HEAD SET THAT YOU SEE CSRs WEAR, EXCEPT THE DIFFERENCES IN ONE EAR THEY'RE HEARING THE PERSON THEY'RE HELPING AND ON THE OTHER EAR THEY'RE HEARING WHAT THE COMPUTER IS SAYING BACK TO THEM ON THE SCREEN.
THOSE TYPES OF PROGRAMS MAKE JOBS ACCESSIBLE BUT NOT ALL EMPLOYERS IS HAVE THAT TYPE OF SOFTWARE IMPLEMENTED.
ONCE CLICK ON GROWS A LITTLE BIT LARGER, WE ARE GOING TO BE ABLE TO CREATE INSIDE SALES POSITIONS FOR PEOPLE WHO ARE BLIND.
CURRENT WILL I WE DON'T HAVE ANY SALES PEOPLE WHO WORK AT CABVI AS A WHOLE.
THIS WOULD BE A NEW DIFFERENT TYPE OF OPPORTUNITY FOR PEOPLE WHO ARE BLIND.
BECAUSE IT'S A SOLELY AN E-COMMERCE SITE, WE ARE ABLE TO BE VERY COMPETITIVE.
IF YOU GO TO OUR WEBSITE, YOU SEE THAT WE LIST OUR COMPETITORS PRICING SO YOU CAN SEE HOW WE COMPETE OR A FAVORABLE PRICING WITH OUR COMPETITORS.
EVERY SINGLE PURCHASE THAT IS MADE ON CLICK ON GOES BACK TO SUPPORT OUR MISSION.
IN FIVE YEARS WOULD I LOVE TO SEE CLICK ON SUPPLIES STATEWIDE THROUGHOUT THE ENTIRE STATE OF NEW YORK.
THAT'S WHERE I'D LIKE TO SEE US.
AND POTENTIALLY THROUGHOUT THE ENTIRE NORTHEAST.
>> OUR THANKS AGAIN TO SCOTT AT CABVI.
JOINING US TONIGHT FOR OUR COMMON CENTS SEGMENT IS BEN AXELMAN, JOURNALIST AT SYRACUSE.COM WELCOME!
>> THANK YOU FOR HAVING ME.
>> SO HAPPY YOU ARE HERE.
THERE IS THE SUBJECT THAT WE ARE TALKING ABOUT TODAY IS SOMETHING WE TALK AS A FAMILY AND THAT'S CUTTING CABLE.
IS IT REALLY WORTH IT?
>> THERE IS NOT A SIMPLE ANSWER TO THE QUESTION, UNFORTUNATELY.
>> OKAY.
>> IT CAN BE WORTH IT FOR SOME PEOPLE.
IT'S NOT WORTH IT FOR EVERYBODY.
>> GOT IT.
WHY WOULD SOMEONE CUT CABLE?
ARE THERE BENEFITS TO STREAMING SERVICES?
>> THE BIGGEST BENEFIT TO CUTTING CABLE IS CUTTING THE COST.
AND THAT COST IS PROBABLY IN THE RANGE OF 40 TO $50 PER MONTH.
IT COULD BE MORE THAN THAT, DEPENDING ON HOW PREMIUM YOUR CABLE IS.
THE QUESTION IS WHETHER WHAT YOU ARE REPLACING IT WITH ACTUALLY COSTS LESS THAN THAT OR IF IT ENDS UP COSTING A WHOLE LOT MORE.
>> RIGHT.
BECAUSE RIGHT NOW, WHEN YOU HAVE THESE STREAMING SERVICES, YOU USUALLY GET A NOTIFICATION, HEY, WE ARE GOING UP IN PRICES OR HEY, YOU CAN NO LONGER JUST STREAM IN MULTIPLE HOUSEHOLDS.
NOW YOU NEED TO HAVE YOUR OWN LOG-IN INFORMATION.
SO WHAT WOULD YOU SAY FOR SOMEONE WHO IS ON THE VERGE OF THE TWO?
IS.
>> THAT'S A GREAT QUESTION.
FIND WHERE IT'S AVAILABLE SOMEWHERE ELSE.
NOW YOU MIGHT GET LUCKY.
SOME OF IT MIGHT BE FREE ON SOMETHING LIKE WHAT IS IT FREE-V OR SOMETHING LIKE THAT.
SOME OF IT YOU MAY PAY A PREMIUM FOR LIKE REGIONAL SPORTS COSTS A LOT OF MONEY TO GET A LA CART SERVICE.
SO YOU NEED TO DO THAT MATH FOR YOURSELF.
AND YOU NEED TO ADD IT ALL UP AND COMPARE IT TO WHAT YOU ARE PAYING FOR CABLE.
AND YOU KNOW, MAYBE YOU WILL GET LUCKY.
MAYBE YOU WILL FIND THAT CABLE IS WHERE YOU SHOULD STAY.
>> RIGHT, BECAUSE WE ARE LOOKING AT SPECIFIC NETWORKS YOU NEED A SUBSCRIPTION FOR.
SO YOUR BASE STREAMING SERVICE AND THE NETWORK.
AND THEN YOU ALSO HAVE TO ADD ON TOP OF THAT, PRETTY MUCH YOUR INTERNET SERVICE AS WELL.
AND REALLY COMPARE THE TWO TO SEE WHAT IS MOST COST EFFECTIVE.
BEN, I APPRECIATE YOU.
THANK YOU FOR COMING ON AND KIND MUCH SHARING BOTH SIDES OF KEEPING CABLE OR CUTTING IT.
GO THANK YOU FOR HAVING ME.
>> TAKE CARE.
FOR OUR PROPERTY PULSE SEGMENT, WE TAKE AN IN-DEPTH LOOK AT THE SIGNIFICANT INCREASE IN RENT PRICES ACROSS THE SYRACUSE AREA.
SINCE 2020, THE COST OF RENTING HAS ROUGHLY INCREASED BY 40%, PUTTING ADDED PRESSURE ON TENANTS AND RESHAPING THE LOCAL HOUSING MARKET.
WE SAT DOWN WITH TWO EXPERTS, SHARON SHERMAN EXECUTIVE DIRECTOR OF GREATER SYRACUSE TENANT ORGANIZATION AND KEVIN TAMPONE JOURNALIST FOR SYRACUSE.COM TO DISCUSS THIS PRICE SURGE AND WHAT THEY THINK THE FUTURE WILL HOLD, ESPECIALLY WITH COMPANIES LIKE MICRON COMING INTO THE AREA.
TAKE A LOOK.
>> RENTS ARE RISING-FOR-ALL TYPES OF HOUSING.
PEOPLE SHOULD BE SPENDING ACCORDING TO FEDERAL STANDARDS 33 TO 40% OF THEIR INCOME ON RENT, AND THIS IS DRAMATICALLY GONE UP.
EVEN THOUGH THERE HAS BEEN SOME INCREASE IN WAGES, THERE HAS NOT BEEN ANY INCREASE THAT COMPARES TO THE RAISE IN THE RENTS.
>> SO AS OF AUGUST, 2024, IN THE SYRACUSE METRO AREA, RENTS WERE UP ABOUT 7% COMPARED WITH AUGUST OF 2023.
RENT IN THE SYRACUSE METRO AREA SINCE FEBRUARY OF 2020, WHICH IS THE LAST FULL MONTH BEFORE THE PANDEMIC HIT, SINCE THAT TIME, IT'S UP ABOUT 42%.
>> A LOT OF THE RISE IN RENTS, IN MY OPINION, HAS BEEN IN THE MIDDLE AND UPPER INCOME RENTS.
AND THOSE ARE AGREED.
IT'S THE INCOME SIDE THAT HAS MADE THESE RISING RENTS UNSUSTAINABLE AND DRIVEN PEOPLE INTO HOMELESSNESS IN OUR COMMUNITY.
>> IT COMES DOWN LARGELY TO SUPPLY AND DEMAND.
WE SIMPLY HAVEN'T BEEN BUILDING ENOUGH.
IF YOU LOOK AT BUILDING PERMIT DATA FROM THE CENSUS BUREAU, THE NUMBER OF HOUSING UNITS THAT WE ARE BUILDING HERE IN THE SYRACUSE AREA ARE NEAR ALL TIME LOWS IN THIS DATA, WHICH GOES BACK TO 1990.
IT IS NOT ONLY A SUPPLY AND DEMAND ISSUE CONSTRUCTION COSTS ARE MUCH HIGHER NOW THAN THEY WERE BEFORE THE PANDEMIC.
THERE WERE AND CONTINUE TO BE IN SOME CASES, SUPPLY CHAIN ISSUES.
>> ONE OF MY BIGGEST CONCERNS IS MICRON.
THERE IS VERY LITTLE PLANS AND SO MUCH OPPOSITION FROM THE TOWN OF CICERO.
>> CERTAINLY OFFICIALS IN THE COUNTY BELIEVE THAT WE ARE GOING TO BE SEEING A LOT OF NEW RESIDENTS AS A RESULT OF MICRON, AND THAT'S JUST GOING TO ADD PRESSURE TO AN EXISTING SITUATION.
SO FARCE THE POTENTIAL SOLUTIONS TO THIS GO, GOVERNMENTS HAVE GOTTEN INVOLVED ON THIS TOPIC IN THE LAST FEW YEARS.
HERE IN SYRACUSE, THE CITY OF SYRACUSE DID A MAJOR REZONING INITIATIVE.
THEY DID A FAIRLY COMPLETE OVERHAUL OF THE CITY'S ZONING REGULATIONS AND THEY ADDED SOME AFFORDABLE HOUSING REQUIREMENTS.
>> SO ALL KINDS OF CREATE EU6 SOLUTIONS-- SO ALL KINDS OF CREATIVE SOLUTIONS THAT NEED TO BE LOOKED AT.
ADDITIONAL DWELLING UNITS ON AN EXISTING PROPERTY, WHETHER IT BE ON A GARAGE, REBUILDING A GARAGE OR ADDING ON TO A HOUSE, THAT WOULD BE HELPFUL.
TINY HOUSES, ALL THE RAGE, BUT WE DON'T HAVE PLACES WHERE PEOPLE CAN, YOU KNOW, PLACE THEIR TINY HOUSE.
>> WE DIDN'T GET INTO THIS SITUATION OVERNIGHT.
IT TOOK YEARS FOR US TO GET TO THIS POINT.
IT IS NOT GOING TO BE EASY TO GET OUT OF IT.
>> I HAVE NO IDEA WHERE EVERYONE IS GOING TO LIVE BECAUSE WE ARE GOING TO HAVE MORE PEOPLE AND NOT, YOU KNOW, MORE HOUSING.
SO THAT IS REALLY ONE OF OUR BIGGEST CRISES: THIS WEEK FOR BY THE NUMBERS WE TALK ABOUT SOMETHING I'M FAMILIAR W. SIDE HUSTLES, A WAY FOR PEOPLE TO EARN EXTRA MONEY ASIDE FROM THEIR PRIMARY SOURCE OF INCOME AND FOR MOST AMERICANS, SIDE HUSTLE INCOME ISN'T FOR FUN.
ACCORDING TO NEW DATA FROM BANK RATES SIDE HUSTLE SURVEY, 36% OF AMERICANS HAVE A SIDE HUSTLE.
THE AVERAGE SIDE HUSTLER MAKES 891 PER MONTH AND 25% OF PEOPLE MAKING BETWEEN 1 DOLLAR AND $50 A MONTH.
THE GENDER PAY GAP IS RELL DOCUMENTED IN FULL TIME BUT IT APPEARS IN SIDE HUSTLES.
38% OF MEN AND 33% OF WOMEN HAVE SIDE HUSTLES.
MEN MAKE ABOUT 29% MORE THAN A WOMAN.
AND ABOUT 32% OF AMERICANS THINK THEY WILL ALWAYS NEED A SIDE HUSTLE WITH ABOUT 16% OF THE PEOPLE PLANNING TO DEVELOP IT INTO THEIR MAIN SOURCE OF INCOME.
THESE ARE YOUR NUMBERS FOR THIS WEEK.
WE CONTINUE NOW WITH OUR SPOTLIGHT SERIES WITH J. DANIEL PLUFF HIGHLIGHTING BUSINESSES AND PEOPLE DOING SOMETHING SPECIAL IN OUR AREA.
SEVERAL OF THE BUSINESSES WE SPOTLIGHT ON OUR PROGRAM ARE OFTEN NEW, START UP COMPANIES ESPECIALLY IN THE AREA OF HIGH TECHNOLOGY.
BUT THIS TIME WE HIGHLIGHT A COMPANY WHICH TRACES ITS ROOTS BACK TO THE EIGHTEEN HUNDREDS.
OVER THE YEARS, ONEIDA LIMITED BECAME THE LARGEST PRODUCER OF FLATWARE IN THE WORLD, AND LIKE SYRACUSE CHINA, THEIR PIECES OUR J. JANUARY YELL PLUFF MET WITH OUR J DANIEL PLUFF MET WITH CO-FOUNDER MATT ROBERTS WHO GAVE AN UPDATE ON THEIR TURNAROUND STORY AND TOOK SOME PRIDE IN TELLING HOW THEIR PRODUCTS FOUND THEIR WAY TO THE WHITE HOUSE.
>> ONEIDA PRIOR TO YOU COMING IN, ONEIDA LIMITED IF I'M NOT MISTAKEN WAS THE LARGEST FLATWARE PRODUCER IN THE WORLD, CORRECT?
AND THIS WAS A BIG OPERATION.
>> AT ONE TIME IN THE 19 NINTH WE 1990S, WE MADE OVER 3.5 MILLION PIECES A WEEK.
AN ENORMOUS FACTORY AND WE SOLD PRODUCTS ALL OVER THE WORLD.
>> SO I MEAN OBVIOUSLY SOMETHING MUST HAVE HAPPENED THERE BECAUSE THEY RAN INTO TROUBLE.
THEY WERE HUGE, MAKING A LOT OF PIECES, AS YOU SAY.
WHAT WAS THE PROBLEM?
WHAT CAUSED ONEIDA'S DEMISE BEFORE YOU CAME IN?
>> THE BIGGEST PROBLEM WAS COMPETITION FROM CHINA.
WHEN CHINA JOINED THE WORLD TRADE ORGANIZATION IN THE LATE 90s, THEY STARTED DUMPING PRODUCTS ON THE SHORES.
AND WE ACTUALLY WOULD DO THE COST ANALYSIS, IT WAS CHEAPER TO BUY THE PRODUCTS FROM CHINA THAN EVEN TO BUY THE RAW MATERIAL EVEN BEFORE YOU STARTED MANUFACTURING.
>> WOW.
THAT PUTS YOU AT A SIGNIFICANT DISADVANTAGE.
YOUR PARTNER GREG OWENS, THE TWO OF YOU WERE EMPLOYEES OF ONEIDA AND DECIDED TO TAKE OVER THE COMPANY, TAKE OVER ONEIDA IN ESSENCE.
THAT COULDN'T HAVE BEEN A DECISION YOU MADE OVER A CUP OF COFFEE.
HOW DID YOU ARRIVE AT THAT?
>> WHEN THE DECISION WAS MADE TO CLOSE THE FACTORY, I STARTED CONTEMPLATING YOU KNOW, WHAT WAS I GOING TO DO WITH MY FUTURE.
AND I KNEW WHAT THE COST STRUCTURE OF THE FACTORY WAS AND I KNOW THE RETAIL GAIN.
SO IF WE COULD CREATE OUR OWN BRAND, WE COULD CUT OUT THE MIDDLE MAN AND WE COULD BE SUCCESSFUL.
>> DON'T TAKE THIS THE WRONG WAY, BUT WHAT MADE YOU AND YOUR PARTNER THINK YOU COULD COME IN HERE AND ESSENTIALLY TURN THIS AROUND BECAUSE, AGAIN, ONEIDA WAS HUGE.
WHAT WERE YOU THINKING?
>> THE THOUGHT PROCESS WAS, IS TO ELIMINATE A LOT OF THE LEGACY COSTS THAT ONEIDA WAS TALK SFUK STUCK WITH.
START WITH A CLEAN SLATE WITH EMPLOYEES.
WE ARE ABLE TO HIRE THE BEST EMPLOYEES FROM ONEIDA THAT STAYED ON WITH US.
AND IT WAS MORE OR LESS TRYING TO DO THINGS WITH A LOWER OVERHEAD COST.
THERE ARE ONLY TWO OF US RUNNING THE FACTORY.
WE WERE MIDDLE MANAGEMENT TYPE GUYS, EXECUTIVES, VICE PRESIDENT FOR THIS COMPANY.
>> BOLD MOVE THOUGH.
I GIVE YOU CREDIT.
THAT IS A BIG STEP, I WOULD THINK.
>> I THINK THE FIRST FEW YEARS IN HINDSIGHT, I THINK A LOT OF PEOPLE WERE LAUGHING AT US BECAUSE WHO ARE THESE TWO PEOPLE THAT COULD MAKE FLATWARE IN NEW YORK STATE AND ONEIDA LIMITED COULDN'T DO IT.
>> YOU CAN SEE THE ARGUMENT THERE, RIGHT?
SO SHERRILL MANUFACTURING COMES TO BE.
STEP ONE THEN WAS WHAT?
>> THE FIRST STEP WAS TO CONTINUE WITH THE CONTRACT FOR ONEIDA BECAUSE AS THEY TRANSITIONED TO ASIA BASICALLY CHINA, THEY NEEDED ASSISTANCE IN MOVING THAT PRODUCT.
SO WE HAD A CONTRACT WITH THEM FOR THREE YEARS.
WE ALSO MANUFACTURED SOME PRODUCT FOR SOME OTHER COMPANIES LIKE LIBBY OUT OF TOLEDO, OHIO, SOME DESIGNERS.
AND THEN WE STARTED DESIGNING OUR OWN DESIGNS TO SELL DIRECT.
>> SO I HAVE FOREVER SPOKE TO ANYBODY WHO HAS STARTED A BUSINESS OR TAKEN ONE OVER AND THEY SAID TO ME IT WAS CLEAR SAILING.
ASSUMING THAT WASN'T THE CASE, WHAT PROBS PROBLEMS CAME UP EARLY ON, THAT YOU DIDN'T SEE COMING THAT GAVE YOU SETBACKS?
>> THE BIGGEST SETBACK WAS 2008, THE LIMA THING.
>> THE FINANCIAL CRISIS?
>> WHAT HAPPENED TO US IS OUR REVENUE WAS CUT IN HALF IN ONE DAY.
WE WERE A SMALL COMPANY.
WE DIDN'T HAVE A WAR CHEST TO RIDE THROUGH THE LEHMAN THING.
SO WE HAD TO REORGANIZE THE BUSINESS IN 2010.
WE ACTUALLY FILED BANKRUPTCY IN OCTOBER 4, 2010.
YOU WONDER WHY I REMEMBER THAT DATE EXACTLY.
>> I'M SURE.
>> BUT THE INTERESTING THING IS WE HAD A PATHWAY FORWARD.
AND OUR PATH FORWARD WAS LIBERTY TABLETOP ONLINE SALES.
WE LITERALLY STARTED OUR WEBSITE THE SAME WEEK THAT WE FILED BANKRUPTCY.
>> BUT HOLD ON.
FIRST OF ALL, BANKRUPTCY FILING DOESN'T HAVE THE SAME CONNOTATION AS IT DID YEARS AGO.
THIS WAS A REORGANIZATION FOR YOU.
>> CHAPTER 11.
>> BUT STILL, HAD TO BE A SETBACK.
THE TWO OF YOU HAD TO BE SITTING AT THE TABLE WHAT THINKING WHAT HAVE WE DONE.
>> IT WAS VERY DEPRESSING FOR ME PERSONALLY BECAUSE I FELT LIKE WE FAILED.
WE HAD A PATHWAY FORWARD.
IT TOOK US A FEW YEARS TO GET TO THE POINT WHERE WE EXITED BANKRUPTCY.
WE PAID BACK ALL OF OUR SECURED CREDITORS AND WE ARE STILL PAYING OUR UNSECUREDS BACK.
>> OUTSTANDING.
>> WE PLAN ON PAYING EVERYONE OFF 100%.
WE DIDN'T HAVE TO DO THAT BUT THAT'S JUST THE WAY WE WANTED TO BE.
>> GOOD FOR YOU.
LET'S MOVE ON HEAD TO MODERN DAY.
PRODUCTS IN THE BACKGROUND BEHIND YOU.
I SEE A LOT OF SILVER.
-FOR-THOSE OF US WHO MAYBE DON'T HAVE KNOWLEDGE ON THIS, FLATWARE ESSENTIALLY IS WHAT?
>> FORKS SPOONS AND KNIVES.
OUR PRODUCTS ARE MADE OUT OF 1810 STAINLESS WHICH IS 304, WHICH IS THE BEST STAINLESS STEEL YOU WILL SEE.
>> GOOD QUALITY GRADE.
>> MADE IN THE UNITED STATES.
WE STARTED WITH THE TRADITIONAL DESIGNS.
AND THEN WE CAME UP WITH THE NEWER DESIGNS, WHAT WE CALL AFFINITY DESIGNS THAT HAVE SPECIFIC DESIGNS ON THEM CALAVERA, CELTIC, OLIVER, OUR NEWEST DESIGN HAS DOG PAWS.
>> THIS IS DESIGNED IN-HOUSE.
>> ININ-HOUSE, ALL OF THE TOOL IS FROM THE FIRST SAMPLE IS MADE IN-HOUSE.
THIS IS A CELTIC DESIGN, CELTIC SYMBOLS ON EACH ONE.
THEY'RE DIFFERENT IT'S ALL THE TOOLING IS MADE HERE.
>> AND THIS IS YOUR... >> THE NEWEST DESIGN CALLED OLIVER.
THE DOG PAWS.
>> THAT'S COOL.
AND BONES.
THEY ALL HAVE THIS BACK?
>> THE BACKS WE SHARE THE BACK.
IT'S SORT OF THE SAME BECAUSE THAT'S NOT-- EVERYBODY LOOKS AT THE FRONT.
BUT THE WAY WE DESIGN IT, IT'S ALL SHINY AND THE BACKGROUND MAKES IT POP.
>> AND THIS STUFF GETS PRESSED, SOME TYPE OF MACHINE PRESSES THAT ON THERE, RIGHT?
>> IT'S PRESSED IN A CORNING PRESS AND A LOT OF POLISHING AFTER THAT.
>> WAY NEAT.
COOL.
>> FROM FLATWARE, DID YOU BRANCH OUT INTO ANYTHING ELSE?
I'M THINKING OF THE WHOLE TABLE SCET SETTING, PLATES, STEM GLASSES ANYTHING LIKE THAT?
>> WE HAVE GONE AND FOUND OTHER MADE IN AMERICA MANUFACTURERS OF TABLE WARE.
SO WE HAVE POTS AND PANS, GLASS WARE, CUTTING BOARDS.
>> ALL THAT YOU MAKE?
>> THAT WE RESELL IT.
BUT WHAT WE DO IS WE BUY THEIR PRODUCT, WE VET IT.
MAKE SURE IT IS TRULY MADE IN THE UNITED STATES.
AND THEN WE'LL PUT IT ON OUR WEBSITE SO THE CUSTOMER HAS A ONE-TOP SHOP.
>> HOW HAS ONLINE PURCHASING IMPACTED YOU AND ARE YOU USING THAT TO YOUR ADVANTAGE, LIKE FROM A MARKETING STANDPOINT?
MARKETING ONLINE?
>> IF IT WASN'T FOR INTERNET RETAIL, WE WOULD HAVE A VERY DIFFICULT TIME BEING IN BUSINESS.
AND NOW THE WAY THAT EVERYTHING IS GOING FROM A RETAIL STANDPOINT, BRICK AND MORTAR IS REALLY A DYING BREED, SO TO SPEAK WHEN IT COMES TO RETAIL.
PEOPLE WANT TO BUY SOMETHING, HAVE IT IN A DAY OR TWO AND THEY CAN DO ALL OF THEIR COMPARISON SHOPPING ONLINE.
THEY DON'T HAVE TO DRIVE ROUND TO DO IT.
>> HOW FAR THOUGH-- HOW FAR DO YOU REACH?
I MEAN ARE SALES JUST DOMESTIC?
WOULD YOU BE A GLOBAL SUPPLIER?
>> THE OVERWHELMING MAJORITY IS THE CONTINENTAL UNITED STATES.
>> THE PROBLEM THOUGH I SEE OR THE WORRY I GUESS I WOULD HAVE, WITH THAT, IS AREN'T YOU WORRIED OF THIS FOREIGN COMPETITION, FOR EXAMPLE, COMPANIES IN ASIA OR SOMEWHERE ELSE.
THEY'RE MANUFACTURING, THEIR LABOR COSTS ARE LOWER, THEIR PRODUCT COSTS ARE LOWER.
ISN'T THAT A PROBLEM FOR YOU?
>> IT REALLY ISN'T BECAUSE THEY CAN'T PUT USA ON THE BACK.
SO WE MARKET THAT AS ENVIRONMENTALLY FRIENDLY, OUR ELECTRICITY IS GENERATED FROM NIAGARA FALLS.
OUR PRODUCT IS INFINITE RECYCLABLE.
WE ARE REALLY COMPETING WITH WILLIAM SONOMA, CRATE AND BARREL, MACY'S NEIMAN MARCUS.
BLOOMINGDALE'S.
WE ARE NOT COMPETING WITH OTHER MANUFACTURERS.
WE ARE A RETAILER.
>> I READ SOMETHING THAT WAS INTERESTING.
A FEW YEARS BACK, YOU HAD A MEETING WITH PRESIDENT TRUMP.
TELL ME ABOUT THAT.
>> WELL, WE WERE INVITED TO THE WHITE HOUSE AS A SMALL MANUFACTURER, A SMALL COMPANY.
HE WANTED TO HEAR FROM MANUFACTURERS IN THE UNITED STATES HOW IS EVERYTHING GOING AND WHAT CAN WE DO TO HELP GROW THE U.S. MANUFACTURING BASE?
THE SECOND TIME WE WENT TO THE WHITE HOUSE, WE WERE REPRESENTING NEW YORK STATE AS A MANUFACTURER AND HE HAD A MANUFACTURING WEEK WHERE THERE WERE ALL 50 STATES WERE REPRESENTED BY A POLICE OFFICERING-- BY A MANUFACTURING COMPANY AND WE WERE LUCKY ENOUGH TO BE ONE.
WE MADE A SPECIAL SET FOR THE PRESIDENT AND HIS FAMILY FOR THE WEST WING.
>> PRETTY COOL.
>> WE ALSO MADE A SET OF CUTLERY STEAK KNIVES WITH HIS LOGO, I AM ASSUMING HE IS EATING OFF OF THOSE IN MAR-A-LAGO.
BUT WE APPRECIATE ANY ASSISTANCE WE CAN GET FROM OUR ELECTED OFFICIALS TO HELP THEIR CONSTITUENTS TO CREATE JOBS, KEEP JOBS, EVEN LEGACY COMPANIES LIKE US.
>> YOU MENTIONED ALSO ABOUT SO MUCH OF THE PRODUCT IS RECYCLABLE.
YOU SEEM TO PUT AN EMPHASIS ON THAT AS WELL AS LOCALLY SOURCED ITEMS.
TELL ME ABOUT THAT A LITTLE BIT.
>> STAINLESS STEEL IS INFINITELY RECYCLABLE.
OUR PACKAGING COMES FROM SHERBURNE NEW YORK, OUR BUFFING COMPOUNDS COME FROM UTICA.
WE ARE NOT BURNING FOSSIL FUELS ON A SHIP GOING ACROSS THE OCEAN TO GET THE PRODUCT TO THE CUSTOMER.
IT'S MADE MERE.
WHEN YOU BUY OUR PRODUCT, THE MONEY GOES TO THE PEOPLE THAT MADE IT.
>> I DO LIKE THAT.
I LIKE THAT A LOT ACTUALLY.
LET'S TALK ABOUT DOWN THE ROAD THEN.
I MEAN YOU SEEM TO BE PRETTY STABLE NOW.
OUTLOOK IS GOOD AS FAR AS YOU CAN SEE.
>> YEAH, THE OUTLOOK IS GOOD.
I MEAN WE ARE-- WE WANT TO GROW SLOW AND PROFITABLE.
WE ARE NOT ABOUT BECOMING WHAT ONEIDA USED TO BE.
WE ARE GOING TO BE A SMALL NIMBLE COMPANY.
>> WHERE IS THAT GROWTH GOING TO COME FROM AS FAR AS YOU CAN TELL?
>> IT'S GOING TO COME FROM BRAND AWARENESS.
THE AVERAGE PERSON PURCHASES FLATWARE TWO TO THREE TIMES IN THEIR LIFETIME.
SO WHEN THEY GO LOOK FOR FLATWARE, IT'S VIRTUAL REALITY INFREQUENT.
SO-- VIRTUAL REALITY INFREQUENT.
SO THE IMPORTANT THING IS TO GET THE BRAND IN FRONT OF PEOPLE'S FACES.
THE MADE IN AMERICA THING IS IMPORTANT TO A LOT OF PEOPLE AND WE ARE TRYING TO LEVERAGE THAT.
THE MARKET IS SO LARGE COMPARED TO WHAT WE ARE SELLING, WE ARE GOING TO GROW ORGANICALLY.
>> INTERESTING.
WE WISH YOU WELL.
IT'S AN INTERESTING STORY GOING BACK AS FAR BACK AS THE 1800S AND MOVING FORWARD TO TODAY.
IT LOOKS LIKE THINGS ARE GOING WELL FOR YOU HERE.
I LIKE THE MADE IN AMERICA APPROACH.
KEEP US POSTED ON YOUR PROGRESS BUT GOOD LUCK WITH YOUR FUTURE.
>> THANK YOU FOR VISITING AND I HOPE YOU ENJOY IT.
>> OUR PLEASURE.
THANK YOU.
>> BIG THANKS TO MATT ROBERTS.
IT IS THE END OF OUR PROGRAM TONIGHT BUT WE HAVE MORE FOR YOU• NEXT WEEK, WE EXPLORE A PRINTING AND GRAPHICS COMPANY THAT IS THINKING BIG WITH ITS RECENT EXPANSION.
NEXT, WE'LL DISCUSS THE FINANCIAL IMPACT OF LEAD POISONING IN OUR AREA.
AND FOR OUR SPOTLIGHT SERIES.
J DANIEL PLUFF SITS DOWN WITH JEFF KNAUSS TO TALK WHAT IT'S LIKE TO BE AN ENTREPRENEUR IN THE HOSPITALITY INDUSTRY, AND HIS NEW ONLINE PLATFORM FOR FELLOW ENTREPRENEURS.
WE HAVE A LOT MORE COMING THIS SEASON SO IF YOU HAVE AN IDEA FOR A BUSINESS, PERSON OR JUST SOMETHING SPECIAL HAPPENING IN CENTRAL NEW YORK, CONTACT US BY EMAILING NEWS AT WCNY.ORG.
TO FIND OUT MORE ABOUT THE PROGRAM, PLEASE VISIT OUR WEBSITE AT WCNY.ORG/"ON THE MONEY."
YOU CAN ALSO VIEW OUR PREVIOUS EPISODES THERE TOO.. AND YOU CAN FOLLOW US ALL OF OUR SOCIAL MEDIA PLATFORMS, AS WELL.
I'M LAIZA SEMIDEY, THANKS AGAIN FOR WATCHING.
Spotlight: Matt Roberts, CEO and co-founder of Sherrill Manufacturing and Liberty Tabletop.
Video has Closed Captions
Matt Roberts, CEO and co-founder of Sherrill Manufacturing and Liberty Tabletop. (12m 20s)
Providing Support for PBS.org
Learn Moreabout PBS online sponsorshipOn the Money with J. Daniel Pluff & Laiza Semidey is a local public television program presented by WCNY