Globalization's future impacts tourism and trade

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20 Under 40: JenniferDessoye

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Dr. Jennifer Dessoye is assistant professor of occupational therapy at Misericordia University and owner of Bright Beginnings Early Learning Academy (BBELA). Discontent with the early education curriculum and understanding of human development and neurolo (read more)

20 Under 40: Amy Hlavaty Belcher

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Amy Hlavaty Belcher, 39, owner and artistic director of Abrabesque Academy of Dancing, believes that for those who have been given much, much is expected. “I just try hard to do my best,” she said. I have been blessed with many opportunities and many gift (read more)

20 Under 40: Christopher Hetro

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Chris Hetro, 33, works hard and plays hard. “A strong work ethic is important, but finding balance outside of work is important because life is too short and you need to enjoy it,” he explained. As an electrical engineer and project manager at Borton-Laws (read more)

20 Under 40: C. David Pedri

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For attorney C. David Pedri, 37, it’s all about a combination of qualities that contribute to success. “My philosophy is simple: be open and honest, treat people the way you would want to be treated, with respect, and work hard to attain your dreams. The (read more)

20 Under 40: Ed Frable

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Ed Frable, 28, believes “if I work hard and stick to my word, good things will happen. My crew will not be deterred. We will re-evaluate our game plan and not give up until the job is complete,” explained Frable, the owner/operator of Ed Frable Constructi (read more)

20 Under 40: William H. Bender II

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William H. Bender II, CFP, CIMA, CRPC, loves what he does. “I’m lucky. I come to work every day excited to help the people and institutions we work with,” explained Bender, 34, first vice president at Bender Wealth Management Group, Merrill Lynch. The fam (read more)

20 Under 40: Angelo Venditti

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Angelo Venditti, 38, heard a call to the helping professions early on. Geisinger Northeast’s chief nursing officer answer was to volunteer for his local fire company. After high school, he became a paramedic, then enrolled in nursing school. Three years a (read more)

20 Under 40: Donald Mammano

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At 20, Donald Mammano began his own company, while attending the University of Scranton. Mammano, now 33, and president of DFM Properties, recalls, as a youngster, holding a flashlight while his father fixed the kitchen sink. “From that point on I was fas (read more)

20 Under 40: William J. Fennie III

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William J. Fennie III, 27, is always knocking on the proverbial door, because he knows one day, one will open. As an investment specialist with Integrated Capital Management (iCM) he cannot take “no” for an answer. “I make cold calls every day to invite f (read more)

20 Under 40: Marcus Magyar

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As an advisor at CAPTRUST Financial Advisors, Marcus N. Magyar, CFP, 30, provides comprehensive wealth management and investment portfolio services to business owners, executives, families and high-net worth individuals. His multi-disciplinary team of pro (read more)

20 Under 40: Heather Davis

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Heather M. Davis, 33, director of marketing and communication, is responsible for creating, overseeing and implementing a strategic marketing and comprehensive communications plan for The Commonwealth Medical College (TCMC). She is also responsible for pr (read more)

20 Under 40: Alexandria Duffney

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Alexandria Duffney, 30, is competitive by nature and loves a good challenge. These qualities have led her to her position as associate director of graduate admission at Wilkes University. Here she works with prospective students interested in enrolling in (read more)

20 Under 40: John Culkin

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John Culkin’s tenets inform: “Less haste equal more speed; the same boiling water that softens the potato hardens the egg, it is all about what you are made of, not the circumstances surrounding you; and don’t ask someone to walk a mile in your shoes, bef (read more)

20 Under 40: Conor O'Brien

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“What could be worse than getting to the end of your life and realizing you hadn’t lived it,” mused Conor O’Brien.” As co-founder and executive director of the Scranton Fringe Festival, O’Brien, 25, is responsible for leading the development of the overal (read more)

20 Under 40: Jessica Siegfried

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Jessica Siegfried, 38, is senior designer with BlackOut Design Inc., where she is responsible for all creative design at the full-service agency, from traditional branding and print to collateral and front end web design. “I’ve always had an interest in t (read more)

20 Under 40: David Johns

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David Johns’ career path has been shaped by his diverse experiences. As director of structural engineering at Greenman-Pedersen Inc., Moosic, Johns, 39, ensures that his engineering and consultant teams provide clients with their best effort. “We complete (read more)

20 Under 40: Robyn Jones

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Robyn Jones, 38, president of ReferLocal LLC, has learned just as many lessons from her business successes as she’s had from her failures — and she believes it’s important to share that knowledge with her employees. After graduating from American Universi (read more)

20 Under 40: Nisha Arora

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Nisha Arora, 36, tries to be the best version of herself every day. As general counsel for ERA One Source Realty Inc., she realized she cannot control other’s behavior so “I try to focus on myself and how I can be better,” she explained. Arora’s responsib (read more)

20 Under 40: Justin Sandy

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Starting at a young age in Hazleton, Justin C. Sandy, 33, found a passion for running. He became a member then a coach for Misericordia University’s cross country and track and field programs. “It was at Misericordia that I also garnered the profound sati (read more)

20 Under 40: Dr. Ariane Conaboy

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As a doctor of internal medicine at Physicians Health Alliance, Dr. Ariane M. Conaboy, 34, realizes the importance of human life and how fragile it can be at times. Conaboy graduated from Scranton Prep and the University of Scranton with a double major in (read more)

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Jobless rate continues upward creep

The number of jobless people in the metro area continued its upward creep in May, according to state numbers out Tuesday. The Scranton/Wilkes-Barre metro area’s seasonally adjusted unemployment rate grew by one-tenth of a percentage point to 5.9 percent, (read more)

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By Kathy Ruff

Globalization has ebbed and flowed for millennia, intermittently expanding or reducing. Britain’s decision to withdraw from the European Union (a/k/a Brexit) and the election of Donald Trump as president of the U.S. mark a turning point for changes to globalization.

Observers remain uncertain what will occur internationally, but many agree the world will change.

“As far as Brexit is concerned, our trade with them is not going to be that much disrupted,” said Michael Horvath, senior international business development manager for the Northeastern Pennsylvania Alliance, Pittston. “But if a company was using U.K. as a landing place for their products to go into Europe, then that could be somewhat of a problem because England is going to have to establish trading agreements with the European Union and maybe each individual country.”

According to Horvath, a recent decline in trade between the U.S., England and Europe resulted from a sluggish economy and a more favorable exchange rate of the euro compared to the dollar.

“(Tourism) was a bargain a year and a half ago when the euro was at $1.20 to $1.30 versus the U.S. dollar,” he said. “It was very cheap to come over and enjoy what the U.S. had to offer as far as tourism attractions and things like that.”

Combined with lower exchange rates, President Trump’s travel ban and immigration stance could also deter some European travelers from coming to the U.S.

According to the U.S. Travel Association’s Travel Trends Index, international travel to the U.S. actually grew faster than domestic travel in February. But the association’s economists predict a drop-off in the international travel industry going forward.

“As far as trade goes, there are winners and losers on both sides,” Horvath said. “It could hurt the auto industry because a lot of parts have to come in from overseas to be incorporated into the auto that’s being manufactured either by a U.S. manufacturer or by a foreign manufacturer. Then there are going to be some companies that will definitely benefit by having things purchased in the United States if they could find a manufacturer to purchase those things or have somebody ramp up their production for that new product.”

Analysts agree Britain will also see changes to its trade environment over the next few years.

“Businesses that have subsidiaries in the U.K. will experience more and more difficulty over time selling goods and services in the EU,” said Brian Schaitkin, senior economist with The Conference Board, New York. “In addition, a large part of the reason why you’re seeing this hard Brexit is the U.K.’s desire to control immigration from EU countries. As a result, transferring workers between Britain-based subsidiaries and subsidiaries based on the continent is going to become harder once Brexit is fully implemented and Britain is outside of the EU.”

Schaitkin also expects American firms using London-based banks to encounter more difficulties conducting certain types of business without England’s privileged access to the EU’s financial markets.

“So from the financial perspective, from transferring worker perspective and from a non-tariff barrier perspective, those are all going to be issues companies that operate both in Britain and on the continent are going to have to face.”

Companies may also face trade challenges in the U.S. as Trump revamps its trade policies.

“It’s not necessarily a new direction in terms of trade policy,” said Schaitkin. “Early on there had been a realization that international supply chains are delicate and that disrupting trade relations would have adverse effects on the economy. As a result, you have not seen as dramatic a departure of previous trade policies as you might have expected. However, I won’t expect any new trade agreements to be ratified down the road.”

Observers expect changes to Britain’s trade agreements as it moves forward with its exit from the European Union.

“In the short-term, we’re seeing spotty demand,” said Frank Mataro, vice president of sales and marketing for Silberline Manufacturing Co., Inc., Hometown, Schuylkill County. “Europe is still reeling from what were pretty sluggish economic conditions over the last couple of years. The Brexit thing isn’t helping. Consumer confidence is not high.”

Mataro sees some effects today on Silberline’s business because of softening currencies.

“With the Brexit vote coming out, the pound has weakened,” he said. “We have seen weakening in the euro also, which makes a strengthening dollar, which makes our products more expensive for export.”

Silberline has a plant in Scotland, where its manufacturing costs are in pound sterling, as well as one in China and three in the U.S.

“What was a relatively easy move from a plant in the U.K. to the EU may be harder when Brexit is complete because trade conditions between the U.K. and the EU may change. “ Mataro said. “We may have a different set of rules to work under and we don’t know what those are going to look like yet. The good part is we have a plant in that theater. The bad part is that things are changing.”

What does that change mean for American companies in or anticipating entering the global marketplace?

“If you’re going to be exporting products from the U.S. to anywhere else in the world, you better understand your value proposition,” said Mataro. “You better understand why those customers are going to buy from you. With all the associated freight and duties, in order to get the kind of returns you need, you better be offering products that customers want and that has a value proposition that exceeds what they can buy locally.”

Schaitkin also offers some guidance for companies to succeed internationally despite changing conditions.

“It’s critical that businesses figure out how they would adapt links in their supply chains if trade policies changed and as a result reliable suppliers are no longer accessible, to have scenarios of how you can move more of your supply chain,” Schaitkin said.

Planning for alternate contingencies may ensure business continuity.

“There is no magic bullet,” NEPA’s Horvath said. “If you are just an exporter, I don’t think it’s too much to worry about. If they are on the import side, it’s going to be affected and how much a company realizes on imported products.”

The Northeastern Pennsylvania Alliance offers assistance to companies that are considering going global or expanding abroad to understand the benefits and challenges of international trade and navigate through all the rules and regulations that go with doing that.

“If it’s a newer company, learn as much as you can,” he said. “Get to market and develop your relationships. If you’re already involved in

international trade and see the benefits, if you know what you’re doing, keep on doing it and don’t stop. Figure out ways that you can still make your product cost-effective and competitive for consumers in that market that you are in to be able to continue to buy your product. Stay on top of everything that affects your particular industry and the product that you manufacture.”

While companies going global may face

ongoing challenges, Mataro remains optimistic.

“The good part is there are still opportunities,” he said. “There’s growth potential (with) 300 million people in Western Europe and there are lots of opportunities for offering the right products and services. It’s just going to take a somewhat

different perspective than we might have from all of the uncertainty that’s coming from all of this activity.”

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