The Port Jefferson Chamber of Commerce hosted their annual Taste at Port Jefferson event Saturday Oct. 22 at the Village Center, where visitors sampled local foods, wines and desserts from more than 35 North Shore based vendors.
By Billie Phillips
My name is Billie E. Phillips. Thirty-five years ago, my late first wife and I, borrowed every dollar we could and spent every dime we had to open up the Bar/Restaurant, Billie’s 1890 Saloon. Like every venture into the hospitality business, it was a gamble. We were very fortunate. Through the first years it became apparent that Billie’s was becoming a special place for the community, a place for stories to be told, laughs to be had, and new memories to be made.
Since then and after my sale of Billie’s it has maintained its standing as part of the fabric of the community. Unfortunately, as most of you know, Billie’s sustained a kitchen fire and has been closed since late June. Since then, the current tenant’s lease was cancelled for reasons many people have speculated about, but most people have no true knowledge of.
Rumors have spread to the point that petitions were started to save the building from being torn down. The building will not be torn down and the bar and restaurant you have grown to love will continue on in the tradition of Billie’s 1890 Saloon for as long as I have a say in the matter.
After a brief tour of the building by the landlord, I was asked if I would be interested in leasing the property, as a new lease would not be offered to individuals of the previous corporate tenant for reasons that were explained to me. After some contemplation, I felt the reasons were understandable.
At the end of the day, I could not stand by and watch Billie’s 1890 Saloon be taken over by anyone without ties to the Port Jefferson community. In a decision that was very difficult to me because of friendships I have with people connected to Billie’s, in many capacities, my family and I have assumed control of the space used by Billie’s 1890 Saloon. It is my hope people will begin to understand this could have been the end of Billie’s as they knew it, and to some it will probably still feel this way. However, to those that are skeptical, please know my family and I will endeavor always to maintain the intangibles that make Billie’s such a special place in the hearts of so many.
Billie Phillips is the original owner of Billie’s 1890 Saloon, located on Main Street in Port Jefferson.
By Dave Paone
Port Jefferson Station is able to make a claim no other place on Long Island can: It’s home to the last brick-and-mortar magic store in all of Nassau and Suffolk County. Ronjo Magic & Costumes on Route 112 is the last of its breed, yet doesn’t look as if it’ll be performing a disappearing act anytime soon.
The 2,000 square-foot store is stocked with magic trick pieces, novelty items, costumes and a room for performances. The costume articles include wigs, masks and an extensive line of hats that hang from the ceiling. The novelty section is small, but contains the usual gags, like exploding cigarettes, hand buzzers, itching powder and the obligatory rubber chickens.
Last month, Hope Galasso, of Bellport, discovered Ronjo through a Google search and brought her 15-year-old nephew Zack Galasso to the store to purchase a Chinese coin trick for $7.
While Halloween is the bread-and-butter season for costume sales, it’s not the only time they’re in demand. Last year, 19-year-old Suffolk County Community College student Christine Day came into the store with her brother and a friend. The trio was preparing to attend Comic Con, a convention for comics, graphic novels, anime, video games, toys and movies, in New York City. Her brother was dressing as Jack Skellington from Tim Burton’s The Nightmare Before Christmas, and her friend was dressing as Beetlejuice. The three of them needed makeup.
Owner Ron Diamond provided them with just what they needed. “We looked great,” Day said.
She also said Diamond was “really helpful” and “inviting,” so when he offered her a part-time job at the store, she took it. Currently she handles data entry, shipment of online orders, and works the counter for costumes and makeup.
Diamond’s lifelong interest in magic began in 1966 when his mother bought him a magic kit called Box-o-Magic for $3 at Billy Blake’s department store in Setauket. Then 8 years old, Diamond said the box contained just a handful of tricks, but enough to get him started.
Diamond continued to learn tricks, but with no magic store nearby, he resorted to learning new illusions from library books, and by age 12, even started to handcraft his own tricks with the help of a classmate.
Diamond got the itch to perform.
So at 13, he recruited a girl named Joanne from down the block to play the part of his onstage assistant. He wanted to give Joanne top billing, and name the act Joron, but his sister, Deborah, said he should call it Ronjo, so he did.
Ronjo’s first public performances were free for local charities in Suffolk. Since the two performers were only in eighth grade, his mother had to drive them to wherever they were performing.
Eventually, the charity work led to paying gigs. Their first was at a birthday party for a 6-year-old, where they made $6. Diamond kept $4, and paid Joanne $2.
A year later, Diamond became more polished and added new tricks to the act, and with it, the price of a show jumped to $35. The clients from the first job called to book him again, but when he told them the new rate, they hung up.
At 15, he thought he could make additional money by giving lessons and selling magic tricks in a retail setting. He talked one of the merchants at the Old Town Village indoor flea market in Setauket into letting him rent space in his booth, where he set up a 2 feet by 4 feet showcase with 12 tricks for sale.
The retail locations kept changing, and with each move, got bigger. Diamond added more showcases with more tricks for sale, and eventually landed his own 13 feet by 100 feet store at the Arcade Shopping Center in Port Jefferson Station at 16 years old. He stayed there for 14 years.
As the years went on, Diamond became a professional magician, but Joanne was no longer in the act, because her father wanted her to get a “real job.” By 1982, he had a crew working for him, including, at times, a driver, a stagehand and other performers including a sword swallower, belly dancer and disc jockey.
On occasion, customers in his store would ask for wigs, makeup and costumes. Since he never says no to a customer, he’d get whatever items they were looking for.
In 1991, Diamond hired Pete Albertson, who was one of his students, to manage the store. He’s been there for 25 years. Diamond purchased his current location in 2000. When Magic Shop in Hicksville closed three years ago, Ronjo became the last surviving magic store on Long Island.
The storefront acquired a little slice of cyberspace and joined the internet in 2003. The website saw tremendous growth over a five-year period, which peaked in 2008, almost to the point where physical store was no longer needed. But all that changed when more and more retailers began selling online, and cyber sales dropped considerably. Now, there are “more websites than customers,” he said.
On the magic side, Ronjo’s customers range from the loyal to the new. Mike Maimone of Port Jefferson Station has been purchasing tricks from Ronjo since he was 12. He’s now 48. He owns nearly 350 decks of cards — each for a different illusion — plus 250 other items for tricks. More than half of them were purchased at Ronjo.
The uncertainty of operating a shop that sells exclusively what amount to non-essential items looms over Diamond and his business, but for now, Long Island’s only magic store is still here.
“Everything here is a luxury,” he said.
By Rebecca Anzel
Whenever Denise Pianforte saw one of her neighbors getting a new roof installed, she hoped to soon be able to afford one as well. The Port Jefferson Station home she lived in with her sister, Heather Richards, was 60 years old.
Pianforte saw a flier on her church’s bulletin board for a program that advertised a free roof for a Suffolk County family in need. “I always pray to God to help me find a way to get the money [for a new roof],” she wrote in the online nomination form. She added that even with her and her sister each working two jobs at over 50 hours a week, it looked like the day would never come. “Seems like my only hope would be to win the lottery.”
She did not win the lottery, but she did win the new roof. A-1 Roofing & Siding, a family owned and operated contractor in Port Jefferson Station, installed it Feb. 6.
Maria Malizia and her three brothers, who took over running the business after their father retired, became involved in the national No Roof Left Behind program last year.
No Roof Left Behind provides contractors with the necessary tools and resources to construct a free roof for a local family in need. The program was founded in 2009 by Jay and Dena Elie, the owners of a Detroit roofing firm called Ridgecon Construction.
Malizia said that they were immediately interested in the opportunity to help deserving families in Suffolk County.
“We’ve been in the community for decades and were just happy that we were finally able to give back a little,” Malizia said. “When we heard about the program, we said to ourselves, how could we not do this.”
After helping Denise Pianforte and Heather Richards, Malizia said the immediate gratification let them know they needed to continue their involvement with No Roof Left Behind.
“They were really grateful, excited and relieved that they were safe under a new roof and didn’t have to worry about any leaks in the future,” Maria Malizia said.
Councilwoman Valerie Cartright (D-Port Jefferson Station) said No Roof Left Behind is providing the community an important service.
“We are fortunate to live in an area such as Port Jefferson Station where residents and local businesses strongly believe in giving back to their community,” Cartright said. “I am sure the program will have a tremendously positive impact on the lives of the 2017 winners and I commend A1 Roofing for their sponsorship of the program.”
The importance of community support is not lost on the organization.
“This is a nice way for contractors to engage the community and let them know they’re one of the good guys,” said Dena Elie, who is a member development director for the program. “No Roof Left Behind helps the community to recognize you as a shareholder there, and someone who genuinely cares and wants to support you locally.”
More than 247 roofs have been installed by 60 contractors in more than 27 states and provinces since the program’s founding.
As a participating contractor, A-1 Roofing pays an annual subscription fee to join No Roof Left Behind. That gives it access to the outreach and promotional materials Elie created, and designates the firm as the sole participating contractor in Suffolk County. It is one of two in New York — the other, Marshall Exteriors, is located in Newark.
Nominations for this year’s recipient, are open until Oct. 31 for a local family deserving of a new roof. Malizia said community members are invited to submit photos and a brief paragraph to the local No Roof Left Behind website.
Then, the roofing contractor will narrow the list down to four finalists. Malizia said A-1 considers whose roof is least able to survive the winter months. When the finalists are revealed, residents can vote from Nov. 14 to Dec. 16 for the winner, who will be announced on Dec. 23.
Currently, there are four nominees — two from Sound Beach, one from Amityville and the other Nesconset.
The day the new roof is installed is usually a huge celebration, Elie said. She encourages contractors to bring members of the community to meet the winning family. A-1 has not yet set a date for the installation, but it will be using materials donated by General Aniline & Film (GAF) and delivered to the home by Allied Building Products, both national No Roof Left Behind sponsors.
“Roofing contractors are a group of big-hearted fellows,” Elie said. “They grow to care for the folks they’ve put roofs on for, and I think one of the most rewarding things to see is a sense of community develop.”
Malizia said her family is looking forward to helping more Suffolk County families.
“We all know how difficult it is to survive when you don’t have a safe roof — it’s a constant worry,” she said. “We’re going to keep participating as long as we’re able.”
By Wenhao Ma
In little more than eight years, John Tsunis’ Gold Coast Bank has gone from one location in Islandia to a publicly-traded company with six branches on Long Island, and another opening in downtown Brooklyn.
Now he’s contemplating the bank’s first branch in Manhattan, because many of the customers and stockholders on Long Island are also residents of New York City.
“I don’t want to build a wall between us and New York City,” Tsunis said.
Tsunis, 65, has multiple business interests. He is not only the chairman and chief executive officer of Gold Coast Bank, but is also on the board of directors of the New York State Hospitality & Tourism Association, and the founder and CEO of Islandia-based Long Island Hotels. He opened the first Holiday Inn Express franchise on Long Island in Stony Brook in 1991, which was the first in the United States.
According to Gold Coast Bank’s 2016 second quarter report, its net income reached $573,000, a 178 percent increase compared to the same quarter last year. Its assets, deposits and loans have all increased compared to 2015.
The bank also reported year-to-date net income of $991,000.
Gold Coast Bank went public in June, issuing about $9.5 million in shares.
“We are encouraged by our original investors who continue to support our community bank, as well as new investors who have come aboard,” Tsunis said in a statement.
After his first bank, Long Island Commercial Bank, was taken over by New York Community Bancorp in 2005, many clients felt the new, larger bank no longer offered a personal touch. So Tsunis created Gold Coast Bank.
“We used the same model [as we did for Long Island Commercial Bank], almost like a private bank, where we could meet with our neighbors and help them,” Tsunis said. “The bank has a tremendous opportunity to help the development of the growth and the success of the neighbors in our community.”
He said Gold Coast Bank reinvests clients’ deposits right into the community where they are located.
“You deposit money here and we don’t send it to Europe, China or South America like a multinational bank,” he said.
Tsunis remembers when he and his bank helped a Stony Brook restaurant that had trouble funding an expansion.
“That’s not a big enough fish for them,” he said, explaining why the big banks wouldn’t lend money to the restaurant. “For small banks like ours that are in our community, every fish is a big fish.”
Tsunis said he was familiar with the owners, who had been in business for a long time.
“We took that as an opportunity to support the community and a local merchant,” he said, adding that he responded right away.
Tsunis said his father worked in a restaurant in Manhattan. When the son was 12 or 13 years old, he used to go to work with his father every Saturday. His job was to bring coffee and egg sandwiches to the customers, which helped him develop a good work ethic.
Growing up, Tsunis always wanted to be a lawyer and get into the real estate business. He graduated from New York University with honors in banking and finance in 1973, and earned his doctor of law degree from Syracuse University College of Law two years later. Before long he started his own law firm with a personnel comprising himself and a secretary.
“By being a lawyer, I thought I would understand the language of the real estate world and legal world,” he said. “I have tremendous passion for whatever I did. I didn’t want to do anything just for the sake of doing it. I enjoy law, I enjoy practicing land use and I enjoy developing real estate.”
A blueprint for a happy life is what Tsunis would most like to pass on to the next generation.
“Whatever it is that you want to do,” he said, “make sure that you have a smile on your face and the passion for what you want to do because you are going to spend an awful amount of time at work.”
Tsunis is establishing a scholarship at the College of Business at Stony Brook University to help young people who want to enter the business world. He is personally donating $25,000, and the bank will add to that.
Andrew Polan, president of the Three Village Chamber of Commerce, said that Tsunis, who is a very active board member in the chamber, likes to get the community involved, recalling that two years ago Tsunis spent $1,000 on tickets to a barbecue at West Meadow Beach, and gave them out free to guests at the Holiday Inn Express.
“Currently, he wants to get all parts of our community, including the faculty, staff and maybe students of our great Stony Brook and Three Village community together to do a huge New Year’s celebration — maybe centered at the new sports arena on campus,” Polan said.
Cris Damianos, vice chairman of the bank, said that Tsunis is a charitable person and a big donor to charitable organizations, adding that he understands doing business is not a one-way street.
To help the community, Damianos said that the bank lends money not only to businesses, but to religious institutions as well.
Tsunis said he believes that his and the bank’s efforts to help the community will pay off.
“I think if we germinate those seeds, those young students, the residents of the New York metropolitan area and international students as well, will help this economy, this county, this state and country to be a better place to live,” he said.
Innkeepers have brought European bicycle culture to Long Island.
Marty and Elyse Buchman, who have been bicycling the world together for a decade, opened the Stony Brookside Bed & Bike Inn on June 1, located at 48 Main St., Stony Brook.
The couple set out to create a bed and breakfast that would cater to cyclists; providing not only sleeping space and a morning meal, but bike tour itineraries and even bikes, if needed, as well. Two months in, business has been much better than they expected.
“We’ve had people just looking for a place to stay — and that’s fine,” the husband said, indicating that not only cyclists have made up their clientele. A wedding party used Brookside for lodging recently.
The Buchmans have enjoyed bicycling in Europe because traveling by bicycle is considered normal there. It’s not just recreation; it’s a legitimate form of transportation, even for vacationers.
Their inspiration for a new kind of American bed and breakfast came during a 2010 bike tour of Italy. They booked a room in a “bike hotel” in Riccione on the Adriatic Sea. “Each day a guide came and took you for a different ride,” Marty said. “The idea was that you came back to the same place; and didn’t have to worry about navigating [your way] around.”
The following week they had a similar experience at Lake Garda in the mountains of northern Italy, this time staying at a “sports hotel.”
By vacation’s end, they had all the inspiration needed to start their own business.
When they first saw the colonial revival building at 48 Main Street, next to the Stony Brook Grist Mill and across the street from the duck pond, they decided it was perfect.
Built in 1941 by renowned architect Richard Haviland Smythe in a beautiful natural setting, it had the added advantage of being within walking distance of restaurants and shops, a museum and historical landmarks, a pond and nature preserve. It took perseverance, patience and negotiation skills, but they were able to purchase the house in 2014.
“This is an up and coming area for people to visit,” Marty said. “We’re always struck by how beautiful it is when we go on bike rides. People think they have to go out to the Hamptons or Sag Harbor. This is an undiscovered area. Just in the past year, [the opening of] the Jazz Loft and the Reboli Center, it seems like a lot of stuff is happening.”
The couple has done various kinds of marketing. The most effective, they said, was the simplest. A friend who runs a bike tour company put their business cards in every bike store in Brooklyn and Manhattan.
“It’s called a Bed and Bike Inn because it is a Bed & Breakfast, but oriented towards cyclists,” Marty said. “We have mechanical stuff. We have pumps. We have everything you might need for your bike. We have bikes, we have helmets; but most importantly, if you come to me and you say, ‘I want to do 20 miles and I want to see historic things,’ I’ve created a route book to provide just that. People can look through our ride book and decide what fits them.”
Elyse pointed out that each ride page gives you distance and elevation data in addition to the general route.
“Once a route is chosen, we print out turn-by-turn directions and we also provide a Garmin GPS which mounts on their bike and beeps when they have to make a turn,” Marty said. “I have lots of suggested routes — everything from 12 to 100 miles.”
Marty is a high school history teacher and said he would love to lead a local history bike tour. So far, though, no one has asked for that. Elyse noted that most guests have preferred self-guided rides, because then it becomes an adventure. “People tend to like to do that,” she said.
The house has three bedrooms, each with a private bath, and is open to guests seasonally. It will close Nov. 1 and reopen to guests on April 1 next year. For more information, call 631-675-0393.
After hours boat rides are not allowed.
A glass door to the Bridgeport and Port Jefferson Steamboat Company, located at 102 West Broadway in Port Jefferson, was damaged by a man between 4:15 a.m. and 11:30 a.m. July 23, according to the Suffolk County Police Department.
The suspect appears to be a white male in his 20s or 30s with short brown hair, medium build, seen wearing a gray shirt, gray shorts, black sneakers and a gold chain.
The police department is offering a cash reward up to $5,000 to anyone with information regarding the incident that leads to an arrest.
Anyone with information is asked to call Suffolk County Crime Stoppers at 1-800-220-TIPS. All calls remain confidential.
By Nancy Burner, Esq.
Consider this scenario: An individual executes a will in 1995. The will leaves all of his personal property (household furnishings and other personal effects), to his friend who is also the named executor. The rest of his estate he leaves to his two sisters. When he died in 2012, his two sisters had predeceased him. There were no other individuals named as beneficiaries of the will.
The executor brought a petition requesting that the court construe the decedent’s will so that she would inherit the entire estate as the only living beneficiary in the will. The executor stated that the decedent intended to change his will to name her as the sole beneficiary, but he died before he signed the new will. There was also an unwitnessed handwritten will that left his entire estate to the executor.
The court held that the testator’s intent to give his residuary estate to his two sisters was unambiguous. Having failed to anticipate, at the time that the will was executed, that his two sisters would predecease him, the court was not allowed to find that the decedent intended a gift of the residuary estate to his friend, the executor.
The court held that there were limitations on its ability to rewrite the decedent’s will to accomplish the outcome sought by the executor. Since the executor was only named as the beneficiary of personal effects, she could not inherit the rest of his estate. This is because the sisters predeceased him and they had no children, the will failed to name a contingent beneficiary.
The result was that the individuals who would have inherited had he died without a will would inherit. In the case at hand he had a distant cousin (to whom he never intended to leave anything) who was entitled to inherit all of his residuary estate. If the decedent had no other known relatives, his residuary estate would have escheated to New York State at the conclusion of the administration of the estate.
What it is important to realize here is how crucial it is to review and update your estate planning documents regularly. This is especially true after experiencing a significant life event such as a birth, death, marriage and/or divorce. You want your documents to reflect your intentions as they are today, not as they were 20 or 30 years ago.
If you are an unmarried person, with no children, living parents or siblings and your only relatives are aunts, uncles and/or cousins with whom you do not have close relationships, you especially want to make sure you have estate planning documents in place to avoid intestacy and having these relatives inherit by default. With these family circumstances, you also want to consider avoiding probate all together with a revocable or irrevocable trust.
If you have missing relatives, the nominated executor would have the burden of finding your aunts, uncles and/or cousins wherever they may be located to obtain their consent to the probate of your will. This can be expensive in both time and money. If these relatives cannot be found, the court will require a citation to be issued to these unknown relatives and a guardian ad litem will be appointed to investigate the execution of the will on their behalf. This is another layer of added expense and delay to the probate process, and a good reason to avoid it.
Whether you have a will or a trust, you want to be sure to review and update it regularly to make sure that your designated beneficiaries are still living. In a situation such as the scenario above, you also want to pay special attention to your contingent beneficiaries. The contingent beneficiaries take precedence if a primary beneficiary has predeceased. If you are unsure about naming contingent beneficiaries at the time you execute your will or trust, you may want to consider choosing a charity or allowing your executor/trustee to choose a charity for a cause you care about as a contingent beneficiary. This way, no matter what happens, your estate does not escheat to New York State.
The takeaway from the scenario above is how crucial it is to regularly review and update your estate planning documents. You want to be sure that whoever you want to inherit at your death, actually inherits your property.
Nancy Burner, Esq. practices elder law and estate planning from her East Setauket office.
By Linda Toga
The Facts: My father married a woman named Jane after my mother’s death. They were married for 10 years before my father died. In his will, my father left everything except the contents of his house to me and my sister.
The Question: Is it true that Jane is entitled to a larger share of my father’s estate than what he left her in his will?
The Answer: Unfortunately for you and your sister, because she is your father’s surviving spouse, Jane is entitled to more than the contents of the house. Under New York law, spouses cannot disinherit each other. Although your father left something to Jane and did not technically disinherit her, the value of the contents of the house likely make up a very small percentage of the value of your father’s estate.
Assuming Jane wants more than what is left to her in the will, and assuming she did not waive her rights in a pre- or postnuptial agreement, Jane may ask the Surrogate’s Court to award her approximately one-third of the net value of your father’s entire estate, regardless of the terms of his will. If someone is legally married at the time of their death, their spouse can exercise what is called a “right of election.” This means that the surviving spouse can elect to receive a share of the decedent’s estate valued at approximately one-third of all of the assets of the deceased spouse. Under the facts you provided, Jane can elect to receive not only one-third of the net value of your father’s testamentary assets passing under his will (assets that were owned outright by your father in his individual capacity) but also one-third of the net value of your father’s nontestamentary assets.
Such assets are sometimes referred to as testamentary substitutes and include, among other things, gifts made by a decedent in contemplation of death, jointly held real property, accounts in a decedent’s name that were held in trust for another person or designated as transfer on death accounts, assets held in trust for the benefit of another, assets payable under retirement plans, pensions, profit sharing and deferred compensation plans and death benefits under a life insurance policy. Since the assets a decedent owned jointly with others and/or held for the benefit of others are considered when calculating the value of a surviving spouse’s elective share, the beneficiaries under the will are not the only people who may be adversely impacted when a surviving spouse successfully exercises his/her right of election.
This is just one of the reasons an election is often the first step in what can be a contentious and protracted litigation. The right of election is personal to the surviving spouse; but, if the surviving spouse is unable to make the election, a guardian or guardian ad litem appointed by the court to represent the interests of the surviving spouse may make the election on the spouse’s behalf. The surviving spouse must exercise the right of election within six months of the issuance of letters testamentary and in no event later than two years after the decedent’s death.
To prevent the distribution of assets that may ultimately be determined to be part of the elective share payable to the surviving spouse, notice of the election must be served upon all people and entities that are in possession of or have control over the decedent’s assets. The executor administering an estate where the right of election has been exercised may be able to disqualify the person who made the election from receiving the elective share. To do so the executor must prove that the person attempting to collect an elective share was not actually married to the decedent at the time of death.
If there is no question that the person seeking an elective is the surviving spouse, the executor may be able to defeat the election by establishing that the spouse had the means but refused to support the decedent prior to death, that the spouse abandoned the decedent prior to death or that the marriage was void as incestuous or bigamous. Although the outcome of all litigation is uncertain, because of the issues raised in litigation involving the right of election, it can be particularly emotional and disturbing. As such, it is best to consult an attorney with experience in estate litigation and specifically with cases involving a claim for an elective share.
Linda M. Toga, Esq. provides legal services in the areas of estate administration and planning, real estate and litigation from her East Setauket office.
By Rita J. Egan
Many in Suffolk County know Robert Borneman and his wife Joy as the owners of Diamond Jewelers in Port Jefferson and Centereach. Now the jewelry store owner can add author to his list of credentials with his self-published book, “Barter Your Way to Greater Wealth: Increase Your Income, Improve Your Lifestyle.” Borneman said he was planning to write a book for a long time, and with his 60th birthday on the horizon, this year was a perfect one to meet this goal. The eastern Long Island resident said the experience was an educational one for him when it came to both writing and publishing. “Barter Your Way to Greater Wealth” is full of informative tips on how one can be successful in bartering as well as advice on how to avoid pitfalls. Presented in an easy-to-read format, anyone interested in how to use his or her talents as currency will benefit. Recently, the author took time out from his busy schedule to answer a few questions about his experiences with bartering as well as writing his first book.
Tell me a little bit about your background.
I started selling jewelry from a costume jewelry kit in 1977 that cost $40, which I borrowed from my mom. Since then, with help from my family, my wife and I have grown the jewelry business into a multi-million-dollar conglomerate of jewelry stores, real estate investments, film productions and most recently an investment in a local Port Jefferson Restaurant, The Arden. I began making independent films in 2009 as an executive producer and writer (“Snapshot,” “Rock Story,” “The Life Zone,” “The Great Fight” and others). I also set aside substantial time to do volunteer work and have supported the Carol M. Baldwin Breast Cancer Fund serving as the treasurer for many years in addition to other charitable endeavors. I have been a member of the U.S. Coast Guard Auxiliary since 1996.
How did you get involved in bartering?
A customer in one of my jewelry stores suggested I look into it. He said it helped him build his business and was worth looking into, so I did, and I joined the exchange he recommended. Since then I’ve joined several trade exchanges and bartered millions of dollars in products and services.
Why did you decide to share your tips?
I have a strong desire to improve the lives of others, and I‘ve accomplished this in many different ways. Giving through writing is just another way of sharing the wealth of information I have accumulated in 38 years of operating businesses. The bartering I have done has improved my lifestyle so much that I think others can benefit from the experience and recommendations I have to share.
You write in the book that sometimes bartering can go wrong. What do you suggest to ensure things go smoothly?
As I outline in great detail within this book, working with a reputable trade exchange removes much of the risk and angst you might otherwise encounter when bartering. Having a third party manage bartering transactions ensures you get paid while offering a myriad of resources and products that you can barter for. If you’re trading on your own, developing relationships over time and dealing with people you know will minimize potential problems.
What was your most successful bartering transaction?
I purchased a two-family home in the Village of Patchogue by bartering a significant down payment with the seller. I then bartered for the repairs and improvements that were needed to maximize the home’s value. After holding the house for a few years, collecting the cash rental income, I sold the house. The sale transaction was for all cash, resulting in a significant windfall, which I parlayed into my next investment.
Your book is full of tips. Do you have a few favorite ones?
Be goal oriented, know what you hope to accomplish by trading and only make trades that help you achieve your goals. Use bartering to create cash flow and make trades that allow you to keep more cash in your pocket. Trade unproductive assets, products and your spare time for the things you need or want in life.
How did you balance running your business, Diamond Jewelers, and writing this book?
Writing time is easier to manage than a business because I use time in waiting rooms and while commuting that used to create anxiety for me. I started the book in earnest when I moved to eastern Long Island creating a two-hour commute each way to Manhattan once a week for business. I supplement that with writing in the early morning and late evening hours.
Do you have plans to write another book?
Yes, I’ve already started my next book about real estate investing that focuses on how to buy, rent and manage the American Dream: single-family homes. I may have taken a day or so off, but I think I started the day after I published “Barter Your Way to Greater Wealth.” I have a few more books in me, too. I’d like to write about the odd and funny experiences of 38 years in business, “A Citizen’s Perspective of America,” and then convert some of my screenplays into books.
Those interested in bartering can find “Barter Your Way to Greater Wealth” in paperback and e-book format at www.amazon.com and www.barnesandnoble.com. For more information on Diamond Jewelers, visit www.diamondjewelersonline.com.
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