Saratoga Business Journal

Personnel Briefs: July 2017

July 7, 2017

Teal, Becker & Chiaramonte, CPAs PC has hired Caitlin Newton as a senior pension specialist.

A graduate from The College of Saint Rose, Newton earned a Bachelor of Arts degree in public communication with a concentration in public relations, advertising and marketing.

She has over six years of experience in 401(k) account management and client services administration.

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Phinney Design Group has hired three additional members to its team.

Brennan Drake was hired as the architect/design technology coordinator. As an architect, he will help the firm in designing and managing projects from inception to completion.

Having a history with BIM (Building Information Modeling), Drake will help develop the office’s digital graphic standards for both presentations and construction documentation.

Drake received his Master of Architecture degree from Boston Architectural College and Bachelor of Science in architectural technology at Alfred State College.

He is an active member of American Institute of Architects Eastern New York Chapter, and joined the Saratoga Springs Preservation Foundation as a board member.

Katelyn Mulry was hired as an architectural designer and sustainability coordinator. She will add to the firm’s experience in the architectural field with a focus on “green” building design strategies and environmentally sensitive construction methodologies.

Mulry received her Master of Environmental Building Design degree from the University of Pennsylvania and a Bachelor of Architecture from the New York Institute of Technology.

She was previously employed as an intermediate architect at the Spector Group Architects in New York City. She has previously been involved in design renderings for a variety of projects, including Deutsch Inc., Vayner Media, Hudson Yards and a new Uber headquarters.

Ashley Pezze was hired as an interior designer. Pezze will help with both residential and commercial interior needs.

Pezze received her Bachelor of Fine Arts degree in interior design from Rochester Institute of Technology and an Associate of Science degree in liberal arts and sciences from Monroe Community College. She was previously employed at Vargas Associates as an interior designer and a relocation manager.

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Dr. Kyle Osborn has joined Saratoga Hospital Medical Group/Primary Care Milton.

Dr. Osborn has extensive experience as a primary care doctor, including four years as an active duty family physician in the U.S. Air Force. Most recently, he was in practice with Niskayuna Family Medicine.

A graduate of Colgate University, he earned a medical degree from State University of New York Upstate Medical University in Syracuse. He completed an internship and residency at St. Joseph’s Hospital Center, also in Syracuse. He is board certified in family medicine.

Loon Meadow Farm In Greenfield Center Has Horse-Drawn Carriages For Special Events

July 7, 2017

Beth and Steve Podhajecki, owners of Loon Meadow Farm, ride in one of their carriages.
©2017 Saratoga Photographer.com

By Liz Witbeck

Weddings are among the most celebrated events in people’s lives. Some people spend thousands of dollars to create a lifelong memory.

One way to make the celebration memorable is to incorporate horse-drawn carriage rides, adding to the level of romance and drama.

Beth and Steve Podhajecki, owners of Loon Meadow Farm, have been working in the horse and carriage industry for 35 years. People contact them to add their services to special occasions.

The Podhajeckis previously owned and operated the business in Norfolk, Conn. In 2016, the couple decided to move back to Greenfield Center, where Steve is originally from.

“We both wanted to move here,” said Steve. “We were looking at combining our passion of horses with our plans for the future.”

“People don’t do these horse and carriage rides just to get from point A to point B,” said Beth. “They are doing it to make a dramatic effect. You are trying to create a special effect that will enhance the event.”

The Podhajeckis currently own five horses, which have been specially trained for carriage work. Some of the most common events that the horse and carriage rides are used for include weddings, funerals, parades, proms and other festivities.

Valentino’s Hair Salon Occupies New, More Intimate Space In The Fresh Market Plaza

July 7, 2017

Fawn Williams, forefront, owner of Valentino’s Hair Salon, poses with some of her staff.
©2017 Saratoga Photographer.com

By Jennifer Farnsworth

Valentino’s Hair Salon, in its new Fresh Market Plaza location, is not just a place to get a quick cut and color.

Shop owner Fawn Williams said after being in Wilton Mall for 12 years, she knew it was time to make a change. She said the move is reflective of the soul of the business, and being outside of the mall has been a positive change.

The new location provides Williams and her staff a place to flourish. Their passion for people is part of their success.

“We knew it was time to leave. I have been in this industry my whole life, so I can sense when an opportunity seems right. When the opportunity arose to move into the new space, I thought to myself, ‘You can do this,’” said Williams.

The new space is about 2,000 square feet, which is actually smaller than the previous space. But Williams said it is more intimate. She said she and her staff like to get to know their customers and the new space allows for that connection.

She said a grand opening held late last month brought in a lot of familiar friends, as well as many new faces.

Valentino’s is known for the $10 Tuesday haircut, which Williams said is something they are continuing.

Saratoga County Prosperity Partnership Has Created Advisory Group For Tech Companies

July 7, 2017

The Saratoga County Prosperity Partnership, the county’s designated economic development agency, announced in June a step forward in advancing its innovative Next Wave Center project.

That step is the formation of an advisory council made up of national and regional technology and business executives to guide the center’s development, launch and operation.

Officials said the Next Wave Center is a physical location that would house companies in the semiconductor supply chain, advanced manufacturing, nanotechnology and clean energy industries. In addition, it would provide education and technical training, a range of business support services, and include a co-working space to serve companies in a wide variety of complementary and collaborative businesses.

The Next Wave Advisory Council will be chaired by Dr. Gary Patton, chief technology officer and senior vice president, worldwide research and development for GlobalFoundries.

The council will provide invaluable guidance and counsel to the Saratoga Partnership and community leaders on the feasibility of the Next Wave Center and other economic development opportunities, officials said. The council will offer input on issues ranging from the scope and level of tenant and program development to leveraging the investment made by GlobalFoundries and New York state in the semiconductor industry to attract additional jobs and companies to Saratoga County.

“GlobalFoundries will provide industry leadership in advanced semiconductor manufacturing to help direct this project and continue to build the ecosystem of supply chain companies that are vital to high-tech growth in the region and state,” said Patton.

“We are thrilled to advance the Next Wave Center through the expertise and guidance of world-class business and technology executives who are committed to expanding economic and workforce development opportunities in Saratoga County and beyond,” said Saratoga County Prosperity Partnership President Marty Vanags. “Under the leadership of Dr. Gary Patton, we look forward to developing a premier space to serve emerging technology companies, and to provide critical training and services that prepare individuals and businesses to grow and prosper.”

The Next Wave Center was identified as a key initiative in the Saratoga Partnership’s Saratoga Strategy. It would provide short-term flex space as a landing pad for companies working with GlobalFoundries, while also serving as a launch pad for those firms to grow their business relationships in the region.

Soteryx, A Data Analytics And Cybersecurity Company, Opens Office In Saratoga Springs

July 7, 2017

By Maureen Werther

In Greek mythology, Soter was the god of safety, preservation and deliverance from harm. When Shaun Wiggins, George Dew and Sam Wiggins decided to start a cybersecurity and data analytics firm, they borrowed from the Greek myth to give their company, Soteryx, its name.

With backgrounds in the military, CIA clandestine services and law enforcement, the three men are positioned to offer cybersecurity, risk management, and crisis response, as well as data analytics, audience engagement and business intelligence.

Shaun Wiggins and George Dew met and became friends during their time working for the CIA and they talked about opening their own company back in the late 1990s. Sam Wiggins also worked with the CIA in clandestine services, but moved to law enforcement, working with the Department of Defense and the Environmental Protection Agency (EPA) before becoming associate administrator of the EPA’s Office of Homeland Security. He is now the executive vice president and president of Soteryx’s Business Intelligence Division.

In 2016, the three men decided it was time to start a venture and they acquired a small public relations firm in the Albany area. The company that emerged, Soteryx, works to help businesses “better engage” by more effectively utilizing data to achieve their goals.

According to their company’s website, Soteryx employs a “four-pillared platform that includes date security, data analysis, data-driven engagement, and data intel.”

Soteryx recently relocated its eastern U.S. office to 18 Division St. in Saratoga Springs. In addition to the Saratoga office, the company has locations on the West Coast, in Latin America and Europe. They work with businesses that use a network of computers and store or transmit confidential information.

Architectural Glass And Metal Will Move Its Operations To Facility In Halfmoon In

July 7, 2017

This building at 3 Liebich Lane in Halfmoon will become the new home for Architectural Glass and Metal. The new space will hold the fabrication area and offices all on one floor.
©2017 Saratoga Photographer.com

By Liz Witbeck

Architectural Glass and Metal (AGM) is moving to a new location.

The firm will occupy 3 Liebich Lane in Halfmoon. The move is tentatively scheduled for mid-August, officials said. The company is currently located at 11B Solar Drive in Halfmoon.

AGM is an architectural contracting firm founded in 1986. They provide glass and metal paneling for commercial properties in the Capital Region.

The new location is 24,000 square feet, the same amount of space as the current location. But there is more warehouse space within the building, which AGM plans to lease out to other companies, officials said.

The facility where AGM is currently housed is two floors, requiring employees to have to move back and forth between levels. The new space will hold the fabrication area all on one floor.

“It’s a better layout and will allow us to be more efficient. The new building will also give us the opportunity to grow and utilize more space if necessary” said Mike Haverly, company vice president.

Businessman Opens His Third ‘Fantastic Sams’ Hair Salon Within Ellsworth Commons In Malta

July 7, 2017

Joan Richards, manager at Fantastic Sams at Ellsworth Commons in Latham works on a client’s hair as owner Jeff McNamara looks on. McNamara owns two other Fantastic Sams locations.
©2017 Saratoga Photographer.com

By Jennifer Farnsworth

Fantastic Sams has opened a location in Malta.

The full-service hair salon is a national chain. The new shop is located at 1105 Ellsworth Ave., in the Ellsworth Commons building.

Like the other salons across the area, owner Jeff McNamara said they offer quality service and style, all at a “fantastic price.”

“We have four talented and very eager stylists eager to provide service at our upbeat Malta salon,” he added.

The Malta Fantastic Sams is a higher-end “budget” salon offering everything from hair coloring services and highlights, to straightening and texturizing, facial waxing and perms, he said.

They also provide up-dos for special events. In addition to female clients, McNamara said they are a preferred men’s haircut salon. Services for men include haircuts and beard or mustache trims. He said many of their customers are children as well.

People can make an appointment for a consultation before committing to any sort of style or color.

Orangetheory Fitness Chain Opens Branch At The Crossing Shopping Center, Clifton Park

July 7, 2017

By Liz Witbeck

Orangetheory Fitness has opened a new location at 54 Crossing Boulevard in The Crossing Shopping Center, Clifton Park.

Orangetheory Fitness is a franchise fitness studio based in Boca Raton, Fla. The company started in 2007. There are currently more than 625 locations in 45 states and 10 countries around the world.

Other area locations include Niskayuna and Albany. Another recent fitness studio launched in the town of Victor.

The basis of Orangetheory Fitness is its heart-rate monitored, group fitness, interval training classes. The company offers group personal training workouts based on high-intensity interval training that blends cardiovascular and strength training.

When participants walk into the glowing, orange room, they are given a heart monitor. The heart monitor keeps track of vital signs. There are large screens on the walls that monitor each participant’s heart rate during class. Participants can see their progress in real time. This allows them to motivate themselves and become more competitive, not just with themselves, but with other gym members, according to the company.

Marcus Hepp is the studio manager of the Clifton Park location. He has a degree in physical fitness and previously worked for Planet Fitness.

“People like to see their results,” said Hepp, of the wall-mounted screens. “The visual aid helps motivate them further. They ask themselves, ‘How can I better that?’”

Participants are also emailed their results after class. This helps them record results and stay on track toward their fitness goals.

SPARK Saratoga Group Sponsors A Speaker Series For Those Seeking To Grow A Business

July 7, 2017

SPARK Saratoga, an entrepreneur incubator and early stage company accelerator developed by Saratoga Economic Development Corporation (SEDC), announced its first Summer Speaker Series for entrepreneurs ready to grow their businesses.

The series features established professionals who have sold their company to Time Inc., led Microsoft new product rollouts, called shots on brand and marketing for Fortune 500 companies, wrote checks as investors and much more.

Invitations to the series are reserved for SPARK Saratoga’s admitted business project teams, representing 17 Capital Region businesses to date and SEDC member investors. New project teams having undergone SPARK Saratoga market opportunity analysis and having accepted mutually agreed action plans supporting their development will also receive invitations.

Interested entrepreneurs can visit www.SparkSaratoga.com to initiate review of their idea or existing early stage business status.

“When we announced our aggressive five-year growth plan to Advance Saratoga jobs and investment, a key element was boosting local entrepreneurs capacity to grow here,” said Dennis Brobston, president of SEDC. “With the help of area talent on our Advisory Team, we framed its objectives and rolled out SPARK Saratoga in April.

“With this series of workshops, we are now implementing a critical element to help our project teams develop by aligning them with talented professionals motivated to support our community and its next generation of innovators. That’s a value to families looking to keep young people here, second and third career skilled workers and retirees ready to get into business for themselves, and to our current investors competing to build on their legacy for more future success.”

Business Report: Mid-Year Economic Outlook

July 7, 2017

Stephen Kyne, partner, Sterling Manor Financial LLC.
Courtesy Sterling Manor Financial LLC

By Stephen Kyne

We’re halfway through 2017, so it’s time to take a look at how the year is progressing, and where we see the remainder of the year going, in terms of risks and opportunities in the economy.

The economy has grown at a faster-than-expected pace so far this year. First quarter GDP has been revised up, twice, and well exceeds expectations. Almost all of the S&P has reported earning for its first fiscal quarter of the year, and are trending toward a year-over-year growth of upwards of 20 percent (12 percent, not including the energy sector). These are largely due to top line revenue increases, meaning that increased profits are largely due to business growth, rather than cost cutting. We expect this trend to continue throughout the year.

Inflation is holding steady, in line with 2016 figures, at roughly 2 percent. Some inflation, perhaps counter-intuitively, is fundamentally good for the economy. When we expect goods and services to be more expensive tomorrow than they are today, we make purchases today, which means inventories need to be replenished, which puts people to work and gives them money to spend on the things they want and need. Without some inflation, the economy stagnates.

Another driver of spending this year may be interest rates. The Fed increased rates another .25 percent in June, as was expected. With the Fed finally making good on promises to increase the rates they charge banks, we’ll see that increase reflected in higher mortgage rates. The expectation of higher future rates pushes fence-sitting potential buyers into the housing market. As a result we’ve seen, and will likely continue to see, increased sales of new and previously owned homes. The same will likely be true of any purchases which are typically made on credit, including automobiles and business capital items.

An asset class that may be hurt by rising interest rates, however, would be bonds – specifically many bond funds. As newly issued bonds carry higher interest rates, the value of previously issued bonds, with relatively lower interest rates, should decrease. These changes should be reflected in the overall value of the funds that hold them.