Neil A. Carousso produces and co-hosts WCBS Newsradio 880’s Small Business Spotlight series with Joe Connolly. Click here to watch the weekly video segments featuring advice for business owners on survival, recovery and growth opportunities.

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  • Test Optional: Hofstra is among Hundreds of Schools No Longer Requiring SAT/ACT Scores

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    By Neil A. Carousso

    This past summer, Hofstra University became 1 of nearly 800 colleges and universities that dropped its standardized testing requirement in order to focus on a more holistic admissions approach.

    “The transcript carries a lot of weight and understanding kind of the environment the student is in,” said Andrew Cohen, the campus visit coordinator in Hofstra’s Office of Undergraduate Admission.

    Hofstra considers challenging curriculums and competitive schools in their decision.

    “Independent research shows that high school grades predict better than the test, which shows you how truly lousy a predictor the ACT and SAT are,” said Bob Schaeffer, the public education director at FairTest, who was engaged in a series of internal deliberations among hundreds of institutions over the summer.

    The College Board is set to revamp the SAT in 2016, reverting back to a 1600 scale with an optional essay. Meanwhile, the ACT is more of an aptitude test, which tests reasoning and verbal abilities.

    “The test itself measures a particular set of knowledge and skill that may or may not correlate well with school performance,” Schaeffer said. “For example, the admissions director at Harvard has said that they know how to evaluate applicants who come in with high test scores and low to moderate school grades. Those kids are slackers who will not perform well in college either,” continued the FairTest education director.

    Harvard College has received a total of 34,295 applications for admission into the class of 2018. A mere 2,048 applicants have been admitted. Only 6 percent of applicants were admitted into the Ivy League institution last year. Harvard looks for applicants with 700-800 on the reading section of the SAT and over a 710 on math and writing. Their minimum composite score on applicants’ ACT tests is a 32. Comparatively, Hofstra has enough space to accommodate 59 percent of those who apply, but seek well-rounded applicants with a “rigorous college preparatory curriculum in high school” with solid grade point averages.

    “I thought that was a really good decision,” said Joy Jones, a freshman journalism student at Hofstra, about the University dropping their standardized testing requirement. “Everyone doesn’t test well and it doesn’t necessarily test your ability to learn and how good of a student you are based on scores,” Jones continued.

    High school seniors, who applied for early action and early decision, will find out their admission results from the University around December 15.

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  • Happy Holidays: Retail Revenue Through the Years

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    By Neil A. Carousso

    It’s the most wonderful time of the year, when people wait on long lines, argue with people over parking spaces and spend a lot of money on presents.

    In 2013, revenue earned from retail shopping in the United States totaled $3.08 trillion. Of that revenue, $62.11 billion was earned via e-commerce. Certainly, e-commerce is on the rise; it’s a convenient way to avoid crowded stores and the wait on long lines. Online retail this holiday season is expected to jump over $10 billion since last year.

    However, even with all the Black Friday hype, reports indicated that Thanksgiving holiday sales fell 11 percent. It can indicate a lackluster spending season, but it’s also an indicator that U.S. households could be saving as much as $1,100 a year, if current gas prices maintain.

    Revenues for the past 6 holiday seasons has been steady, only increasing $350 million compared to online retail increasing $40.8 billion since 2007. This is a testament to booming e-commerce.

    While this draws positives for many retailers, because the Internet is a worldwide avenue to market and sell products, it can also be a nightmare for traditional retailers. The Wall Street Journal reports that because most major retailers are investing heavily in e-commerce, many are closing physical stores. In addition, many retailers are loosing money online due to shipping and packaging costs as well as higher rates of returns. Costs can be as high as 25 percent of sales for retailers that outsource their e-commerce operations, according to industry analysts, who told The Journal.

    For example, Wal-Mart Stores, Inc. says it may loose money online through 2016 as a result of cost of technology plus infrastructure. In order to minimize the losses, some companies, have set a minimum purchase amount for online purchases to qualify for free shipping. Wal-Mart has set theirs at $50. Moreover, many customers expect retailers to pay for shipping costs, according to Deloitte’s 2014 holiday survey.

    E-commerce accounts for one-tenth of U.S. retail sales, but that share is growing rapidly.

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  • Status Cuomo

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    By Neil A. Carousso

    White Plains, NY — In the days leading up to Election Day, most polls showed New York’s gubernatorial race to be a landslide victory for Democratic Governor Andrew Cuomo over Republican candidate and Westchester County Executive Rob Astorino. Among supporters, who were at Astorino’s headquarters at the Crowne Plaza in White Plains, there was an understanding that the county executive was an underdog, but many were hopeful that his campaign will influence the next four years.

    “Regardless, [of the result] he has run a really great campaign,” said Ed Cox, chairman of the New York Republican State Committee, of Astorino’s campaign for governor. “He has proved himself to be the best, statewide leader of a ticket that I’ve ever seen,” added Cox.

    Astorino’s main focus in his campaign was the economy, one of the biggest issues in this year’s midterm elections. Astorino seeks to launch an aggressive, pro-growth and pro-jobs economic agenda to boost New York’s economy by initiating reforms to an antiquated tax code and regulatory system. The Westchester County Executive aimed to reduce the cost of doing business in the Empire State.

    “The growth rate in New York last year was 0.7 percent. People are leaving, jobs are leaving, it’s the highest taxed [state] in America,” Astorino said to Sean Hannity last week on Fox News.

    A real concern is New Yorkers leaving due to hindering growth and high cost of living. Mr. Cuomo has admitted to large taxes due to large governmental spending, but the Democrat vows to reduce spending in his second term.

    Governor Cuomo won re-election with 53.87 percent of the votes with 99.5 percent of election districts reporting. He is the first democrat since his father, Mario Cuomo, to win re-election in New York.

    Astorino, who was watching the results with his family in a suite upstairs, came down to the ballroom at the White Plains hotel to give his concession speech. Joined by his wife Sheila and his three children, he spoke to his supporters.

    Westchester County Executive Rob Astorino gives his concession speech at his election day headquarters at the Crowne Plaza in White Plains, N.Y.

    “Today was a day for politics. Tomorrow is a day for governing and better governing is what New York needs,” said Astorino, who said he called Governor Cuomo to congratulate him and wish him the best in his second term in Albany. “Dramatic reform is needed. I hope Mr. Cuomo has heard some of the cries of New Yorkers this campaign season – I know I have in all 62 counties in our state,” Astorino said.

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  • Journalist Adina Genn: A Difference in the Community

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    By Neil A. Carousso

    Long Island, NY — Adina Genn has a foundation in hyperlocal journalism, covering Port Washington, where she lived for many years. The depth into which Genn writes a story has earned her multiple awards, including three from the Press Club of Long Island and the U.S. Small Business Administration for “Small Business Journalist of the Year” during her 7 years at Long Island Business News.

     

    Adina Genn (Photo courtesy of Patch.com)
    Adina Genn (Photo courtesy of Patch.com) 

    Since Genn started in journalism, the industry has changed and continues to rapidly change with new technology. When she started at Patch, the company gave her a MacBook laptop computer, a smartphone and a police scanner, seemingly unheard of in 2010. A big reason for this was the fact that AOL had majority stake of Patch, a pioneer in the journalistic uses of technology. AOL handed over its majority stake in Patch to an investment firm in January. Journalists, like Genn, were required to use all forms of technology, including utilizing a mobile application for journalists on staff to post stories that they wrote entirely on a smartphone, along with pictures and videos shot and edited on the phone, directly onto the Patch website from an event. She recalled a time when she covered a special remote “Today Show” on NBC and had an entire multi-media piece published on the Patch website before the show was over; Genn overheard a public relations representative express shock in the fact that a local news outlet had the story up so quick. That’s when Genn realized the impact that hyperlocal news and journalism have on people.

    “I enjoy hitting people with information they need to know on the street,” Genn said of journalism.

    Another way journalism, especially in New York and on Long Island, impacted locals is when Hurricane Sandy hit in October 2012. Genn provided extensive coverage and published lists of local communities, indicating whether or not they were in low-lying areas. She didn’t realize until after covering the storm and the aftermath of it and how people can get help, how grateful readers were for her dedication to the community. Genn, herself, had to evacuate with her husband and two kids, but she made sure to reach out to the community and keep them informed.

    “I’m a sensitive person to a lot of topics, which helps me in my work, Genn said.

    As the business changes, so does the art of journalism, but one thing that has benefited Genn over the course of her career, is the relationship she has with her readers, who read her stories for the traditional, impartial journalism that she upholds.

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