BUSINESS BRIEFS: Promotions, Appointments, Business Confidence, MILLHOG Saw, and more

Above, Intensify’s Ajay Subherwal, Chief Revenue Officer

SPONSOR OF Business Briefs in the Franklin Observer

Franklin’s Intensify Appoints Ajay Subherwal, Chief Revenue Officer

Intentsify, the Intelligence Activation Platform for precision buying-intent and intent intelligence activation programs provider,has appointed Ajay Subherwal, Chief Revenue Officer, EMEA & APAC. With this new strategic leadership change coming on the heels of recent company growth, Intentsify is positioned to offer best-in-class next-generation precision intent data solutions to businesses in 2023. Prior to Intentsify, Subherwal was appointed Chief Revenue Officer of MRP after serving 12 years as Senior Vice President, where he was responsible for building and scaling EMEA & APAC business units. Before joining MRP, he led Oracle’s enterprise technology sales team in Ireland and held a management position at Hewlett-Packard UK. Subherwal holds a BSC Honours Degree in Computer Science from the University of Ulster. To learn more about Intentsify, visit www.intentsify.io.

Milford Regional Makes Consigli Board Chair

More than 125 people attended Milford Regional Medical Center’s January 23 Annual Meeting of the Corporation, held via Zoom. In addition to discussing the recent challenges within the healthcare care industry and Milford Regional’s Year in Review, the hospital’s 2023 Milford Regional Medical Center and Milford Regional Physician Group Board of Trustees officers were introduced by outgoing Board chair Laura Mann. The 2023 Milford Regional Medical Center and Milford Regional Physician Group Board of Trustees slate of officers include Chair Anthony M. Consigli (Consigli Construction Co., Inc.), Vice Chair Brian J. Earley (NPP Development/Kraft Group), Clerk Denise Brookhouse (Koopman Lumber Company), and Treasurer Gordon A. Lewis III (Altman and Company).

Consigli is the chief executive officer of Consigli Construction Co., Inc., one of the largest general contractors in the northeast and headquartered in Milford. He has served on the Milford Regional Medical Center and Milford Regional Physician Group Board of Trustees since 2019 and on the Milford Regional Healthcare Foundation Board of Trustees from 2004 through 2016. Recently, Consigli and his wife, Susan, chaired the hospital’s Mélange 2022 Gala benefit, which raised a record-breaking $1.1 million.

Business Confidence Slips to Begin 2023

A strong performance by the Massachusetts economy during the fourth quarter of 2022 was not enough to stem a two-month decline in business confidence among employers still concerned about a slowdown in 2023. 

The Associated Industries of Massachusetts Business Confidence Index (BCI) lost 0.8 points to 53.2 during January. The Index began the new year 2.7 points lower than its level of January 2022 but still at a level that signals overall optimism. Employers remain wary even though the Massachusetts economy grew at a 3.1 percent annual rate and the US economy at a 2.9 percent annual rate during the fourth quarter. Companies are concerned that efforts by central banks to moderate inflation by raising interest rates might push the economy into recession.

The Central Massachusetts Business Confidence Index, conducted with the Worcester Regional Chamber of Commerce, fell slightly from 52.8 in December to 52.5 last month. The North Shore Confidence Index, conducted with the North Shore Chamber of Commerce, declined from 56.7 to 55.6.

Register of Deeds Marks Further Slowdown

Norfolk County Register of Deeds William P. O’Donnell reported that Norfolk County recordings for the month of January 2023 indicate a continued decrease in overall real estate activity, with significant drops in mortgage activity and the average property sale price as compared to the January 2022 numbers.

In January, there were 7,461 documents recorded at the Norfolk County Registry of Deeds, a 36% decrease from January 2022 and a notable decrease of 21% from December 2022.

"The real estate market is still feeling the effects of inflation, even as it eases slightly. High food and energy costs are limiting how much money customers can save," said O’Donnell. "The number of recorded deeds, which is one measure of document volume, shows a drop in real estate sales from the previous year."

The number of deeds for January 2023, which reflect real estate sales and transfers, both commercial and residential, was 1,034, a decrease of 24% from January 2022 and a decrease of 19% from the previous month of December 2022.

Sale prices for January appear to have dropped significantly compared to January 2022. The average sale price in January was $850,396, a 41% decrease from January 2022 and a 9% decrease from December 2022. The total dollar volume of commercial and residential sales is down, decreasing 62% from one year ago and decreasing 38% from last month.

"Consumers appear to have not adjusted to the spike in interest rates and are less inclined to borrow at higher rates," noted O’Donnell. "Consumers may be hoping for lower interest rates even as the average sales price falls."

Overall lending activity showed a continued downward trend for the month of January. A total of 1,001 mortgages were recorded this month, 57% less than a year ago at the same time, and down 2% from last month.

"According to the data, we are recording significantly fewer mortgages, which could be the result of several factors that the country is currently experiencing, including the increasing cost of living and spike in interest rates," noted O’Donnell. "These aspects of the economy can have an effect on the local real estate market."

The Norfolk County Registry of Deeds has been closely monitoring the foreclosure market. In January 2023, there were 9 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, whereas in January 2022, there were only 7 recorded. Additionally, in January 2023, there were 30 notices to foreclose, the first step in the foreclosure process, significantly more than the 18 recorded in January 2022.

Holliston’s Esco Tool Introduces MILLHOG® APS-438 Air Powered Saw

Esco Tool has introduced a pneumatic saw combined with a pipe trolley and wrap around track system for cold cutting pipe from 6" to 60" dia., including concrete lined pipe. The MILLHOG® APS-438 Air Powered Saw and WrapTrack® system uses a trolley that mounts on a wrap-around track and features an articulating arm which keeps the saw blade on its leading edge to produce square cuts accurate to ±1/16". Available with track sections for cutting pipe from 6" to 60" dia., this combination saw and track system employs a proprietary 12" abrasive cut-off blade designed for cold cutting concrete lined ductile pipe. http://www.escotool.com

Foxborough’s Industrial Defender Partners with Nozomi Networks

Global leaders in OT and industrial cybersecurity Nozomi Networks and Industrial Defender just announced a strategic partnership to enhance the security of critical infrastructure and manufacturing facilities. The companies' joint solution combines asset visibility and threat detection capabilities from Nozomi Networks with change and configuration monitoring from Industrial Defender to provide the most complete and detailed view of OT assets and behavior in the industry. Learn more at www.industrialdefender.com.

Home Loan Education Seminar

On March 15, Michael Shain of Bay Equity Home Loans hosts a Home Loan Education Seminar. The seminar runs from 6:30 to 8 p.m.at the Tri-County Regional Vocational Technical High School, 147 Pond Street in Franklin. A panel of experts, including an attorney, a real estate agent, and a home inspector will join Mike to discuss and answer questions about the home buying process including mortgage programs and the importance of credit. Registration is required. The $20 course fee supports Tri-County Adult Education Programs. To register, call 508-528-5400, ext. 119, email foley@tri-county.us, or register at https://tri-county.us/. Click on “Adult Education” then "Click Here - Spring 2023 Register Today" and search “Home Buyer Seminar.”

Tri-County Chamber Leads and Lunch: Be the Best Boss You Can Be...While Saving Money!

Being a business owner is tough, before you even put your feet on the ground in the morning, you need to make sure you can make payroll, pay for health insurance, worry about retaining/finding employees...it's not for the faint of heart!

We know what you're going through and our goal is to help you sleep better at night. There are so many perks to being a Chamber member, and today we will discuss three very important benefits that just may make your life a little bit easier.

1. Delivering a Health Care Solution to Our Members

Speaker: Mike McMullin, Valley Insurance Partners

One of the best ways to recruit & retain top talent is through attractive employee benefits. However, healthcare and employee benefits have grown to a top 3 expense that is rising by double digits each year – impacting your company’s bottom line. Chamber members can now access an innovative self funded benefits solution that delivers stable monthly funding, the CIGNA national network of providers and plan designs you choose.

2. Multiple Employer Aggregation Program (MEAP): A 401(K) for Members

Speaker: Gregg Katz, Katz Financial Services

We have partnered with Lincoln Financial, a nationally recognized leader in retirement planning services to develop this unique program that leverages the strengths of group participation to provide a cost-effective and easy way for you to implement a turnkey 401(K) employee program.

3. When You're Compliant, you're protected! Free HR Services

Speaker: Mike McMullin, Valley Insurance Partners

When it comes to HR and compliance, there’s a lot at stake and you need to get it right, that’s why we partnered with Valley Insurance Partners & Mineral. Mineral’s next-level solutions allow you to build a solid HR foundation for your company, avoid hefty penalties and resolve little workplace issues before they ever become big ones.

Venue Sol de Mexico

Address 350 East Main Street

Milford MA 01757, US

Starts Fri Feb 17 2023, 11:30am EST

Ends Fri Feb 17 2023, 01:00pm EST

REGISTER HERE