Category Archives: Business News

Lola Accessory Boutique Has New Broadway Space, Prepares To Launch New Product Line

June 8, 2016November 8, 2017

Megan Druckman operates Lola Saratoga at 372 Broadway, formerly Lola Accessory Boutique. The store sells women’s handbags, jewelry and accessories and some paper goods.

By Jill Nagy

The former Lola Accessory Boutique in Saratoga Springs has a new name, a new location and is about to launch a new product line.

The shop, now known as Lola Saratoga, moved in April to larger quarters at 372 Broadway, a location that allows greater visibility and an expanded assortment of merchandise, according to its owner, Megan Druckman.

The store sells women’s handbags, jewelry and accessories and some paper goods. Their products include Rebecca Minkoff handbags and they are the only Capital Region outlet for Kate Spade products, Druckman said.

A Portion Of 'Fireball Run', A Contest Streamed On TV, Internet, To Be Filmed Locally In Sept.

June 8, 2016November 8, 2017

Fireball Run, a television and internet streaming series, will be crossing New York state in late September, passing through southern Saratoga County in September.

The Fireball Run is a live action trivia pursuit, adventure travel competition that has “missions” or tasks framed as trivia. Each 26-episode season is filmed in a section of the country, edited, then streamed over the internet in the U.S. and shown on television stations.

Welcome events are planned in Ballston Spa and Clifton Park, according to the Chamber of Southern Saratoga County, as 40 competing teams vie for top honors in solving clues and engaging with historic artifacts. Contestants also aid in the search for America’s missing children, and to date 48 children have been found in part by their efforts, according to program officials.

The contestants will be in the area on Sept. 29 and 30.

The event is not a race, organizers said. Teams earn points for completing tasks after having driven to spots of interest, many times historical, based on clues. Points also can be deducted for things like speeding.

The 2016 rally will be going up and down the Hudson Valley as well as the surrounding states from Sept. 23 to Oct. 1. Estimates put the financial impact of the presence in a community at $250,000 per day, according to the production company.

The rally will arrive in Ballston Spa Sept. 29 and Clifton Park on Sept. 30.

J.W. Danforth Co., Mechanical Contracting Company, To Have New Halfmoon Office Soon

June 8, 2016November 8, 2017

By Maureen Werther

J.W. Danforth Co. plans to take occupancy of its newest location at 5 Liebich Lane in Halfmoon by late fall or early winter of this year.

One of the largest mechanical contracting firms in the Northeast, Danforth has its origins in the Buffalo area, where it began over 130 years ago. Its main office is now located in Tonawanda, a few miles outside of Buffalo. The company received site plan approval from the Town of Halfmoon in early May.

Danforth came to the Capital Region in the fall of 2015 to help support the expansion at GlobalFoundries. The company initially rented space in Clifton Park until about six months ago. The company is now occupying space at 107 Hermes Road in Malta until construction on the new office is completed.

This new building will be the third location for Danforth. They also have an office in Victor, N.Y.

According to Steve DiRaimo, vice president of business development and acquisitions, “With the addition of the new office, Danforth will be better positioned to expand in the Capital Region and offer a full array of services, including custom sheet metal and pipe fabrication; full mechanical contracting services; design-build capabilities; energy performance contracting, and other specialty offerings.”

NBT President Dietrich Named Chairman, Among Bank Management Changes In 2016

June 8, 2016November 8, 2017

NBT President and CEO Martin A. Dietrich was elected chairman of
NBT Bancorp Inc.

Courtesy of NBT

Daryl R. Forsythe has retired as chairman of NBT Bancorp Inc.

Courtesy of NBT

The board of directors of NBT Bancorp Inc. elected President and CEO Martin A. Dietrich to the position of chairman following the retirement of Daryl R. Forsythe.

Dietrich also announced his intention to retire in December 2016.

Dietrich began his career in financial services with NBT Bank, N.A, in 1981. He joined the bank’s senior management team in 1995. Dietrich became president of the bank in 2000; advanced to president and CEO of the bank and president of NBT in 2004; and ultimately became CEO of NBT in 2006. He joined the board of directors in 1993 and NBT’s board of directors in 2005.

Dietrich is a graduate of Colgate University with a bachelor’s degree in economics.

He said of Forsythe, “Daryl’s impact on NBT has been tremendous. During his tenure, the company has grown from a community bank with a local presence in central New York to one of the leading financial services organizations in the northeast at a time when the banking industry has faced many historic challenges. On behalf of all NBT directors, our nearly 1,800 employees and our retirees, I extend our deeply-felt gratitude and appreciation for the dedication, leadership and vision Daryl has provided.”

The board of directors also unanimously endorsed a succession plan that calls for the promotion of John H. Watt, Jr. to the position of president of the bank, effective immediately, and expanded roles for other members of NBT’s Executive Management Team.

Upon Dietrich’s retirement from active employment, Watt will succeed him as chief executive officer of NBT and the bank.

“NBT has benefited from consistent leadership for several decades,” said Dietrich. “We are pleased to have the resources within our organization to create this succession plan. The board’s unanimous endorsement of the plan speaks to the high level of confidence they have in John Watt and NBT’s entire Executive Management Team.”

Watt joined NBT in 2014 to lead the bank’s expansion into Maine and establish a regional headquarters in Portland. Since joining NBT, his role has expanded to provide executive leadership for credit administration, consumer lending, marketing and product development. He was promoted to executive vice president in 2015.

Watt has over 30 years of experience in financial services. Prior to joining NBT, he was executive vice president of commercial banking, investment management and bank operations at Alliance Bank, N.A., through the merger with the bank in 2013.

Previously, he was employed by JP Morgan Chase and its predecessors. He is a graduate of Rutgers University with a bachelor’s degree in political science and earned his Juris Doctor from the National Law Center at George Washington University.

National Grid To Hold Upstate Business Prices

June 8, 2016November 8, 2017

National Grid’s prices for delivering electricity and natural gas to upstate New York customers will be extended at today’s levels into 2018, following regulatory approval of a plan that also will allow the company to continue investment in its networks.

Current energy delivery prices will be maintained through March 2018, extending a period of delivery rate stability for consumers that began more than a decade ago, company officials said.

The company also will be increasing its capital investment in its electricity and natural gas networks over the next two years to approximately $1.3 billion, bringing total investment since 2013 to more than $3 billion. These investments are improving the safety and reliability of the networks, encouraging growth and enhancing storm resiliency, said Daly, National Grid president-New York.

SPAC Nearing Its $5M Capital Campaign Goal; Board Tabs Bonacio, Higgins As New Members

June 8, 2016November 8, 2017

Saratoga Performing Arts Center is embarking on a $5 million capital campaign its board of directors announced in May.

The board also elected two new members, Sonny Bonacio and Richard Higgins, both residents of Saratoga Springs. Leaders in their professions and in the Capital Region community, Bonacio and Higgins will fill vacancies created by outgoing directors Ed Mitzen and Nancy Toohey. Both served SPAC for nine seasons.

SPAC President and Executive Director Marcia J. White said the arts center is launching the public phase of its inaugural 50th anniversary capital campaign to raise funds needed to support SPAC’s future.

Noting that the “next 50 years are as important as SPAC’s founding 50 years,” White said over $4 million of the $5 million target has already been raised during the campaign’s silent phase. The goal during this next public phase will be to meet or exceed the fundraising target of $1 million in order to reach at least $5 million.

“In this milestone 50th anniversary season, we pay tribute to SPAC’s founders who achieved a goal of monumental proportions when they created SPAC,” said White. “Their vision was extraordinary and powerful. It motivated them to push past innumerable obstacles and financial hurdles to create a magnificent, open-air venue in the heart of the Saratoga Spa State Park. Without them, we wouldn’t be here today.”

“However, SPAC’s story and its financial needs are ongoing. Keeping SPAC strong and growing over the next five decades depends on a new generation of founders–our founders of the future,” White said.

She noted that funding for nonprofit performing arts centers is increasingly competitive and that ticket sales from classical programs cover only 40 percent of expenses. Each performance of the New York City Ballet and The Philadelphia Orchestra costs approximately $180,000 to present.

A total of 57 donors, including 100 percent board participation, had contributed over $4 million to the campaign at varying levels by mid-May, including a $1 million gift from an anonymous donor, she said. Donors have the option of directing a gift to one of three categories: programming, capital improvements or SPAC’s endowment fund. Donors can also choose not to restrict their gift to one area, and instead allow SPAC to direct their gift to the area of greatest need.

Circus Smirkus Coming To Saratoga Casino Hotel In July; Shows Benefit Waldorf School

June 8, 2016November 8, 2017

Thirty performers ages 11-18 comprise the Circus Smirkus that returns to the outdoor polo field at Saratoga Casino Hotel for four performances this summer.

Circus Smirkus returns to the outdoor polo field at Saratoga Casino Hotel for four performances this summer.

The performances on July 8 and 9 will benefit the Waldorf School of Saratoga Springs.

The Circus Smirkus 2016 Big Top Tour will perform at 1 p.m. and 6 p.m. on both days.

The Waldorf School of Saratoga Springs first brought Circus Smirkus to Saratoga in 2007 as a fundraising and outreach event.

'Saratoga Casino Hotel' Becomes The Official Name In Casino Rebranding; Hotel Opens Soon

May 5, 2016November 8, 2017

A new sign, ‘Saratoga Casino Hotel,’ was erected at the casino on Jefferson Street in Saratoga Springs. The casino is rebranding itself in anticipation of opening its new hotel in June.

Saratoga Casino and Raceway has changed its brand for the property. It announced on April 27 it will now be called the Saratoga Casino Hotel.

The change took place immediately, in advance of the anticipated opening of its new 117-room hotel expansion.

Officials said the brand change reflects the casino’s transformation into a comprehensive, modern destination that offers something for everyone.

“The addition of the hotel and its amenities, including Morton’s The Steakhouse, creates an entertainment experience unmatched in the region,” said Rita Cox, senior vice president of marketing at Saratoga Casino Hotel. “Our new brand is a product of this transformation, highlighting that we are a complete entertainment destination within the already world famous tourist destination that is Saratoga Springs. First-time and repeat guests alike will find new reasons to visit, and to keep coming back, for all that we have to offer.”

The $40 million, 123,000-square-foot hotel is set to open in July, officials said.

Featuring 117 luxury rooms and suites, the hotel will be located just steps away from the casino floor and harness track. The hotel’s premium rooms and suites are named after the raceway’s founders and longtime President, Roland Harriman, Dunbar Bostwick, and Ernest Morris. Suites feature large bay windows, and many overlook the harness track. Additionally, guests will be able to watch and wager on live harness racing from every room in the hotel.

Distracted Driving Program Is Important To Automobile Museum's New CEO Jim Letts

May 5, 2016November 8, 2017

Jim Letts was appointed the new CEO of the Saratoga Automobile Museum.

Courtesy Saratoga Automobile Museum

The board of trustees of the Saratoga Automobile Museum appointed Jim Letts, CEO of the Saratoga Regional YMCA for the past 12 years, as the museum’s new executive director,.

“While serving as the CEO, Jim has had amazing success, growing the Y’s membership from 6,900 to 26,900, while raising many millions of dollars through capital campaigns to support and expand the Y’s facilities and activities,” said Anthony Ianniello, board chairman. “We think he is a perfect fit for our extremely active, rapidly growing museum and are thrilled to have him on board”

One of the factors in Letts coming to the museum was his interest in its nationally recognized distracted driving program, museum officials said.

Ballston Spa Fitness Expands, Adds Indoor Cycling Studio With Six Certified Instructors

May 5, 2016November 8, 2017

Tiffany Robyck, owner and founder of Ballston Spa Fitness on Ralph Street in Ballston Spa, offers a new array of fitness programs in a new indoor cycling studio called Ballston Spa Cycle.

Ballston Spa Fitness has expanded its facility with the addition of a new indoor cycling studio called Ballston Spa Cycle.

“I’ve wanted to do this for several years,” said Tiffany Robyck, owner and founder of Ballston Spa Fitness. “I am an outdoor cyclist and I love to ride. I wanted to share my love for riding and indoor cycling workouts, and I saw a need for this in the Ballston Spa area.”

Ballston Spa Cycle is in the same location as Ballston Spa Fitness, 18 Ralph St.

There are six certified indoor cycling instructors who offer classes at various times every day of the week. Classes are 45-60 minutes long.