Your BottomLine Text Version

SeaComm Business Newsletter

4th Edition 2021

Business Spotlight: Tom Latinville, Property Developer

Imagine you are going for a regular walk around town. It is a familiar walk, and every time you pass by the same deserted parcel of land, you think to yourself, “Why is this patch of land still unused? It has so much potential.” That is what Tom Latinville focuses on as a property developer in Plattsburgh, New York. Property development includes a wide range of activities and processes, from purchasing land and engineering, to building and developing for its appropriate and best use. A good definition of property development is “the continual reconfiguration of the built environment to meet the area’s needs.”

For more than 20 years, Latinville has been looking for ways to build up the community he calls home. “I’ve lived here my entire life and it’s a wonderful area.” From fine homes to apartment rentals, he continues to grow his portfolio of properties. Tom’s success may be attributed to his experience working in the family business, Latinville Furniture, where he discovered the importance of hard work. “We grew up with a strong work ethic,” states Latinville. “My father taught my brother Jim and myself a lot about buying, marketing, sales, and service. It was a true learning experience. In those days, discipline was necessary and our father was never short of that.”

The theme of family continues in the real estate and property development industry. He states, “My three children are all in the real estate business to some degree, and three of my grandchildren are in this business as well!” When asked what motivates him as a property developer, Latinville says, “I want to be a good mentor and role model for my family.”

“It is gratifying to discuss with three generations what we have in the pipeline,” he adds. “Family is everything. My wife and partner, Susan, a retired RN, have been married 50 years and her support has always been there for whatever comes our way.”

Latinville currently maintains 170 rental properties, and continued growth is imminent. “We expect to have another thirty [units] on board in the next year and a half,” he says. As his business continues to expand, Latinville and his team remain focused on client satisfaction and enlisting the right tenants. “I try to be fair with everyone,” says Tom. “We have a certain criteria for screening and basic eligibility to make sure it fits everyone’s budget.”

Every businessperson needs a team to rely on in order to ensure the overall success of the company. For Tom Latinville, property development is a group effort. “My friend, Rick Perry, has been a great advisor for us, as well as my family. We strategize what’s in front of us and decide accordingly what the best direction is. Teddi Allen is my property manager, and we’ve worked together daily to create and evolve.” When it comes to building maintenance and repairs, Latinville believes in supporting other local businesses. “We’ve set up several subcontractors that we utilize within our organization.”

As for any obstacles in the property development industry, Latinville says, “I truly think we have really fine-tuned the challenges. Having good employees is the key.” When he thinks about the future of his business, Latinville is optimistic. “We have a 75 percent renewal rate, which is phenomenal,” says Tom. “We have tenants that move from one property of ours to another property of ours, as situations and needs change.”

When asked why he decided to utilize SeaComm’s business services, Tom credits AVP of Retail Operations & Plattsburgh Branch Manager, Yvonne Alterie, who he’s known for many years. “We have a solid relationship with her and wanted to support her, since she’s like family to us,” says Latinville.

He also credits Member Business Loan Officer, Emily Bristol, for introducing him to SeaComm’s commercial lending services. “What I like about her is she’s straightforward, very smart and creative. We’ve made many referrals to her and SeaComm, because of her ability to put the deal together and get it done timely,” says Tom. Throughout his dealings with the credit union, Tom has been especially pleased with the service he has received, stating, “We’ve been very happy with SeaComm, and we will continue going forward!”

To inquire about property rentals, contact Tom Latinville at (518) 310-3295.

Manager's Notebook

Businesses Facing Deluge of Resignations

People with jobs want new jobs, and why not? They are lured by better positions, big sign-on bonuses and higher salaries in the very loose job market.

But while companies are trading employees, applicants who aren't in the job market are still scarce.

April saw a record-breaking 3.99 million people quit, followed by another 3.88 resignations in June and 3.98 million more in July.

Millions more may follow suit, primarily motivated by pay and benefits, according to one survey. The survey, conducted by, found that 40 percent of tech workers and 24 percent of employees at financial firms have either already quit or are planning to do so by 2022.

About 18 percent of healthcare workers and 16 percent of employees in food and hospitality are also plotting their exits.

As one person posted on social media, "My hourly wage is the same but new employees are getting big sign-on bonuses."

About 73 percent of business owners believe the labor market will tighten as extra unemployment benefits end.

But in the meantime, business is turning to automation, which suggests the open job market will collapse and jobs will be permanently lost.

Roughly 75 percent of business owners are either investing in or considering automation, according to a survey by Pollfish. Of the business owners who have already automated, about 55 percent believe the shift will be permanent.

Of those business owners who can offshore their work, 71 percent have already done so.

"Every problem is a gift. Without problems, we would not grow." - Tony Robbins, Life & Business Strategist


We've got apps on our phones, apps on our computers, and now, we even have apps on our televisions. And if there's an app, there may be a business opportunity. Smart TVs may offer ways for businesses big and small to connect with customers.

More devices are becoming “smart,” which, among other things, means they're connected to larger networks (such as the Internet). Modern TVs are loaded with streaming apps, like Netflix or Peacock. Meanwhile, online retailers and others are offering apps too.

Take Amazon, for example. The online retail behemoth spent $11 billion on video and music content in 2020, up from $7.8 billion the year before. To put that in context, Netflix spent $10.81 billion on content in 2020 and $9.22 billion in 2019.

Why is Amazon spending so much on media content? Part of it is to advertise goods sold on Amazon through video and music ads. The small businesses that sell their goods through Amazon's marketplace can pay for ads to get their products in front of customers.

Peacock and other platforms also allow small businesses to buy ad space. Traditional TV ads are expensive and collecting data is difficult. We can estimate how many people watch a given show through surveys. However, it's challenging to gather more specific data, like who purchased a product due to a commercial.

With digital apps and platforms, it's possible to measure and define customer actions. With an app, you can track when a customer clicks on an ad and buys a product. Rather than paying for commercial spots, businesses can pay for results, such as click-throughs or sales.

As smart TVs take over the living room, instead of merely showing a customer an ad for your awesome local pizza parlor, you can get them to order delivery right from their TV. Or when Amazon launches its upcoming Lord of the Rings series, small businesses selling on Amazon might advertise swords, independently published fantasy novels and other related products.

Quick Tip:

Track your spending from your computer or mobile device with SeaComm’s digital platforms - NetTeller™ and Mobile Branch!

Check out more business tips at

Supply Chain Woes Hit Small Businesses

Supply chain issues have caused problems for companies big and small. This October, at least 60 cargo ships idled off the California coast, waiting for berths to open up so they could drop off cargo. Costs to ship a single cargo container from China to the west coast of the U.S. rose from $3,000 to $20,000.

A National Federation of Independent Business survey in September found that 55 percent of small businesses reported that supply chain issues were worsening.

A Congressional report concluded that COVID-19 lockdowns caused many of the initial problems.

The U.S. Census Bureau's Small Business Pulse Survey found 45 percent of businesses reported delays from domestic suppliers and nearly 20 percent reported delays from foreign suppliers.

Ultimately, supply and product woes will likely impact the bottom line. Small businesses, already facing tight profit margins and rising overhead from labor and other expenses, may struggle to absorb the additional costs.

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Branch Managers

Joanne Langdon

30 Stearns St. Branch Manager

Christine Marshall

Malone Branch Manager

Barbara Bessette

Canton Branch Manager

Ashley Allen

Ogdensburg Branch Manager

Danielle Uppstrom

Potsdam Branch Manager

Yvonne Alterie

AVP Regional Manager/Plattsburgh Branch Manager

Leslie Bush

Watertown Branch Manager

Joseph Feltz

Essex Branch Manager

Joshua Thomas

South Burlington Branch Manager

Business Development

Jerry Manor

Business Development Manager

Emily Bristol

Member Business Loan Officer

Christina Smutz

Member Business Loan Officer

315-764-0566 / 800-764-0566

Let us Spotlight your business!

We are proud of our business members and want to share your story! Contact Jerry Manor for more information. Call (315) 764-0566 or toll-free (800) 764-0566 or email


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Massena, NY 13662

*This publication does not constitute legal, accounting or other profesional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material.