The owner of the Buffalo Sabres and the founder of Paychex, Inc., B. Thomas Golisano was named the 2008 Niagara Frontier Executive of the Year by the UB School of Management.
The award is given to business leaders whose companies have made an impact on the area. Golisano was chosen to receive it by a group of past recipients and the Alumni Association board of directors.
Golisano essentially saved the Sabres from bankruptcy in 2003 after taking ownership of the team from former owner John Rigas, who was indicted on federal fraud charges, according to Forbes Magazine.
"They were virtually bankrupt a few years back," said John Shellum, assistant dean in the School of Management. "If [Golisano] hadn't stepped in at that time, there were questions over whether the team would be staying in Buffalo."
Golisano founded Paychex, Inc. in 1971 with a goal of making payroll outsourcing more affordable for small businesses, offering such services as calculating payroll and filing tax payments. Golisano started the company with $3,000 and one employee, according to the Paychex, Inc. Web site. The company has since grown substantially, with more than 100 locations nationally.
"Thomas Golisano is clearly an extremely successful businessman, building a phenomenal organization that has impacted many people," said Marc Adler, president of the Alumni Association.
Golisano has been involved in politics as well, running for Governor of New York three times, in 1994, 1998 and 2002. In 2006, he opted to not run nine months before the New York election.
"He didn't sit still and just run a company. He put himself out there in positions where he could make a difference," Adler said. "He's given a lot of time and money to make changes for the better."
This will be the first year the award has been given to someone outside of the immediate Western New York area, as Golisano resides in Rochester. The criterion for selection has always included those who do not live in the area but whose companies have affected Buffalo nonetheless.
"This is an award we've presented for 59 consecutive years. It's the first year someone with a personal residence outside Western New York was the winner," Adler said.
According to Shellum, Golisano displays a high degree of integrity, remaining humble despite his successes.
"For a guy who is a billionaire and has this type of biography, he picks up the phone and calls you himself," Shellum said.
The school also honored Golisano for of his philanthropic work, which has benefited the Western New York area. In 1985, he started the Golisano Foundation, providing grants to organizations that aid those with developmental disabilities.
"He made a $10 million donation to the Rochester Institute of Technology (RIT)," Shellum said. "The donation to RIT was to create the Golisano Institute for Sustainability."
The institute researches alternative energy sources and the effects of climate change on the environment, according to its Web site.
Shellum explained that Golisano donated $6 million to the Central New York Children's Hospital in Syracuse in 2005, and $1.5 million to Mercy Flight in 2006. His philanthropic contributions total approximately $100 million.
"He gets involved in all kinds of things," Shellum said. "He spends all his time now with his passions, the Buffalo Sabres and his foundation."
The award will be presented at the School of Management Alumni Association awards banquet on Oct. 28 at the Millennium Airport Hotel in Buffalo.
Golisano graduated from Alfred State College and started his company in Rochester. He has been recognized numerous times for his achievements in business. He was named one of the top 10 bosses in the U.S. by Forbes magazine three times since 2002.
Photo: Courtesy of Laron Fomby
