Category Archives: Business News

Maria Decker, a local business woman, first became involved with the American Heart Association’s Go Red for Women movement in 2011, when SEFCU’s Chief Administrative Officer Barbara Hess invited her to a Circle of Red Meeting.

At that meeting, Decker heard a statistic that astounded her.

“When I heard that one in three women die of heart disease, I couldn’t believe it,” she said, and joined the Circle of Red on the spot.

Since then, Decker has worked to raise awareness about women’s heart health. To honor her efforts, Decker was given the 2021 Jane Golub Crystal Heart Award from the American Heart Association at the 2021 Go Red for Women Luncheon set for Friday, Nov. 12, at the Albany Capital Center.

After joining the Circle of Red, Decker quickly became involved with the BetterU, the annual heart-health improvement program that about 12 women participate in, and whose efforts are showcased at the Go Red for Women Luncheon.

By Christine Graf

In 1921, Irish immigrant Michael Minogue purchased a soda bottling plant and distribution center in Granville, NY. After Prohibition ended in the U.S., he was issued the 34th wholesale beer license in New York state.

Today, the business he founded is thriving under owner John Minogue Jr. He said it is the oldest continuously operated family owned and operated beer distributor in New York state.

This year, it has been celebrating 100 years in business.

Minogue’s Beverage Center has locations in Queensbury, Saratoga Springs, Wilton, and Malta. Stores carry a wide variety of beer including seasonal varieties and craft beer. They also feature a large selection of ciders, growlers, kegs, seltzers, and sodas.

Minogue was 14 when he first started working part-time for his father, John Sr.. At the time, his father operated just one beverage center in Queensbury.

While Minogue was pursuing a degree in economics from College of the Holy Cross, a friend of his father  who was a retired F.B.I. agent suggested that Minogue consider a career with the F.B.I. Intrigued by the possibility, he moved to Washington, D.C., and entered the bureau’s clerk -to-agent program after he graduated from college in 1976.

“You could work for the bureau as a clerk assisting agents in their work, and after a three-year period, you would be given an opportunity to take the (agent) exam,” he said.

GlobalFoundries, headquartered in Malta, announced that it has publicly filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its ordinary shares.

The number of ordinary shares to be offered and the price range for the proposed offering have not yet been determined.

GlobalFoundries has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol “GFS.”

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as active book-running managers for the proposed offering, the company said. Deutsche Bank Securities, HSBC and Jefferies are acting as additional book-running managers for the proposed offering. Baird, Cowen, Needham & Co., Raymond James, Wedbush Securities, Drexel Hamilton, Siebert Williams Shank and IMI – Intesa Sanpaolo are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus.

By Jill Nagy

Trader Joe’s opened a store in Halfmoon in September, its second outlet in the Capital Region. The grocery chain offers a variety of  food products, most of them under its own label, and a few local, mostly produce, items.

“We know there are a lot of foodies in Halfmoon, and we knew there was some community interest in having a Trader Joe’s in the neighborhood. So, we did our due diligence and decided it was a great fit,” said company spokesperson Rachel Broderick.

The store is located at 2 Halfmoon Crossing. It is a free-standing building, approximately 12,500 square feet, surrounded by more than 100 parking spaces.

Thomas Witte, referred to as Captain Tommy, manages the new store. He celebrates 20 years with the company this year and spent the past six years managing the Trader Joe’s outlet in Colonie.

The store has 85 employees. According to Broderick, approximately 80 percent of them were hired from the local area.

While many area businesses are struggling to find staff, Broderick said, “We are fortunate to have a reputation as a good employer, so we were able to hire a great crew. . . . We are always looking for great crew members, though, so anyone interested is welcome to apply on our website.”

By R.J. DeLuke

Lucy’s is the latest addition to the bar scene on Caroline Street in Saratoga Springs. Unlike many, where volume and intensity can be a factor, this establishment aims for cozy and comfortable, according to co-owner Kelsey Whalen.

The bar physically lends itself to that. The bar itself is small and there are a handful or so of tables. Occupancy is 23.

“It’s  a very casual vibe, but welcoming,” said Whalen. “Our slogan is, ‘Lucy’s bar, Come in as you are.’ We truly mean that. All are welcome.

“We want everyone to be comfortable. We want you to walk away with a good cocktail for $10, not 14 which is seemingly the average in Saratoga for a cocktail.”

It opened in late September and business, she said, is strong despite the size. In fact the size appealed to her. She previously operated Whole Harvest, a stored that prepares healthy meals using local products. She closed the store because the bottom line was not going to hold up during the coronavirus pandemic.

But she retained the lease on the space.

“It’s so good,” Whalen said of business thus far. “In terms of business, it’s low overhead, low staffing, easy maintenance, easy to clean, easy upkeep  … We definitely say it’s cozy eclectic.
It’s been wonderful. It’s been really busy. I think we found a niche that wasn’t in Saratoga … A spot to get a good affordable cocktail and not need to buy food.

Submitted by

the Saratoga County Chamber of Commerce

Recently reported September county data indicates that Saratoga County is coming back stronger and more resilient than ever as we continue to emerge from the pandemic.

“Unemployment rates, sales tax collections, lodging, and real estate across the county are seeing tremendous growth when compared to this time last year,” said Todd Shimkus,  Saratoga County Chamber of Commerce president. “We’re excited to see residents and tourists working, shopping, and staying throughout the county, and we hope the numbers continue to rise.”

Unemployment

As of August, the unemployment rate has decreased from 7 percent in 2020 to 4 percent in 2021. The number of employed residents has risen, adding an additional 800 laborers to our county’s workforce. Unemployment numbers have been nearly cut in half compared to last year.

Lodging

Hotel occupancy has seen a rise throughout the county in 2021 thanks to an increase in leisure demand coming out of the pandemic, and group and corporate travel is starting to rise. Revenue per available room (RevPAR) has nearly doubled since this time last year, showcasing that out-of-town visitors are beginning to explore our vibrant county again.

“Our lodging partners had a strong season with some even setting revenue records,” said Darryl Leggieri, president, Discover Saratoga. “While we didn’t break revenue records in 2021, the occupancy and average daily rate that our lodging partners were able to command shows a strong return to our historical patterns in 2019. The future looks bright.”

By Jennifer Farnsworth

A new doughnut shop, 518 Donuts, has opened in Clifton Park.

This one will combine doughnuts with speciality fried chicken.

Glenn Babinueau, Joseph Carl, and Sam Clifford officially opened the doors to 518 Donuts at 7 Southside Drive in Clifton Park and  business has been good.

“Day one, there was a line all the way down the sidewalk waiting for the doors to open,” said Clifford.

He said all three owners have roots in Troy, where they were in the process of opening what was set to be their flagship shop. But they took one look at The Shops at Village Plaza and   decided they would plan for locations in both Clifton Park and Troy.

“We basically walked in and said,’We will take it.’ We knew we had to move quickly on it,” said Clifford.