Saratoga Business Journal

Cannone’s Deli In Gansevoort Has New Owners,To Continue Providing Quality Meals

October 12, 2023

Matthew Sanchez and Colin Hunt are the new co-owners of Cannone’s Deli in Gansevoort. They bought the business from the original owner John Cannone.
Saratoga Business Journal

By Ann Donnelly

Matthew Sanchez and Colin Hunt were working together at 9 Miles East Farm in Saratoga when Sanchez got a call from his previous employer, John Cannone, who said that after 39 years as owner of Cannone’s Deli, he was ready to retire. He suggested Sanchez take over.

In August, Sanchez and Hunt became owners of the popular deli at at 654 Saratoga Road, Gansevoort.

Sanchez and Hunt both have had long careers in the food industry. Sanchez attended the French Culinary Institute in the 1990s after working as a chef in the military. Hunt has worked in the kitchens of some of Saratoga’s popular eateries, like Cantina and Druthers.

After taking over at Cannone’s, Sanchez and Hunt closed for just two days to clean and paint, giving the shop a fresh look.

“That is the only drastic change we will make for now. The last thing we wanted to do is come in and upset the apple cart,” said Sanchez. “Loyal customers, the same faces I saw when I worked here five years ago, keep the place going.”

Company Proposes Motorcoach Campground With Cabins At Old Golf Course In Moreau

October 12, 2023

By Paul Post

A Latham-based firm’s proposed green energy project would combat climate change while helping people enjoy the great outdoors at a former golf course property in northern Saratoga County.

U.S. Light Energy has a plan for solar array combined with a 146-site motor coach campground and 26 cabins at the 203-acre former Tee Bird South Golf Club on Route 197 in Moreau, about four miles from Northway Exit 17.

The 5-year-old company has already built 15 generating stations across New York in the booming solar industry, with more than twice that in various stages of permitting and construction both in and out of state.

“It’s an exciting project,” said Michael Fingar, the firm’s chief operating officer. “It gives us an opportunity to take advantage of more land than we typically would. The property is well situated to do something pretty dynamic. We hope to begin work late next summer or fall if everything goes well.”

The proposed project, costing up to $20 million, is currently before the Moreau Town Planning Board, which is charged with making a recommendation to the Town Board about its viability. If viewed favorably by the Town Board, the project would go back to the Planning Board for final site plan review, where details are scrutinized.

U.S. Light Energy’s first project was in Clifton Park. It also has developed generating stations in Texas and Pennsylvania, and is seeking entry into other Northeast markets as well.

A National Grid transmission line cuts through the Moreau golf course site, which went out of business 12 years ago. The proposed solar array would be set back on the rear part of the property, out of view from the highway or nearby homes. Electricity would go onto the grid, a requirement of the state’s Community Solar Program, and wouldn’t power the campground directly.

Motor home sites and cabins would be located toward the front, on Route 197. Plans also call for a 1.2-mile multi-use recreation trail that could be used year-round for hiking, snowshoeing and cross-country skiing.

Motor home use would likely be seasonal, from late spring to early autumn. But by having cabins, the campground could be used year-round, Fingar said.

Local Marketing Company Gets Three State Tourism Excellence Awards For 2023

October 12, 2023

Workshop received a state award for developing this Battles of Saratoga logo.
Courtesy Workshop

Saratoga and Lake Placid-based marketing agency Workshop received three 2023 New York State Tourism Excellence Awards, including for the Battles of Saratoga 250th anniversary’s branding and logo development.

The agency also received awards for creative campaigns promoting tourism in the Catskills and Adirondacks.

“These wins represent something more than Workshop’s creative talents,” said Tim Kelleher, Workshop president. “The awards reflect inspired efforts made by communities, like Saratoga, to redefine tourism in this richly vibrant state.”

Members of Workshop’s creative team accepted the awards at the New York State Tourism Industry Association’s annual conference held in September in Rochester.

The awards program recognizes “the outstanding work of New York state’s destination marketing organizations, attractions, and other tourism- related businesses in all forms of marketing, destination management and stewardship.”

Workshop designed the logo and branding kit for the 250th anniversary of the Battles of Saratoga, famed for being the turning point of the American Revolution. The Battles of Saratoga were a series of engagements that took place from Sept. 19 to Oct. 7 in 1777, resulting in the first-ever surrender by a British army. A county-based committee was provided several logo designs to consider before selecting what was to ultimately be the award- winning logo.

Empire State University To Launch Degree Program In Digital Media Arts In 2024

October 12, 2023

Empire State University will have a new bachelor’s degree in digital media arts.
Courtesy Empire State University

Empire State University has launched a bachelor’s degree in digital media arts to prepare students for careers in graphic design, content creation, web design, and digital storytelling.

The program provides students with the necessary skills and knowledge to thrive in the rapidly evolving world of digital media, officials said.

Students can enroll in the digital media arts program at SUNY Empire beginning spring of 2024.

The program is designed to be flexible, accommodating both full-time and part-time students, as well as transfer students. Employing the “learner as producer” model, students will learn by doing while receiving personalized support and guidance from mentors and faculty with expertise in the field. The duration of the degree program will vary depending on individual course load and prior credits.

The fully online BA or BS in digital media arts features a cutting-edge curriculum offering courses such as media and visual literacy, digital art and design, information design, digital painting and web publishing.

M&M Digital Printing Takes Advantage Of Its Small Size To Handle Rush Jobs For Clients

October 12, 2023

Matt Flint, owner of M&M Digital Printing, running a job through the Dupro finisher.

By Paul Post

Think of a high-powered speed boat that can do circles around ocean liners still leaving the dock. According to M&M Digital Printing officials, that’s the advantage its small size creates over bigger firms by allowing it to shift gears and get jobs done right away.

“We get a lot of ‘I need it yesterday’ type calls,” owner Matt Flint said. “There aren’t many printers that you can call and say, ‘Hey, can you print these and do it today?’ That’s where we specialize—that same-day, next-day service.”

To keep up with growth and customer demand, Flint moved his decade-old business from 95 Broad St., Glens Falls, to a larger space at 726 Upper Glen St. in Queensbury last year.

“We added some software and equipment including two of our wide-format printers, which streamlined production and we’ll be upgrading our production presses before end of this year,” he said.

Flint plans to attend this month’s Printing United Expo, in Atlanta, to keep up with industry trends and technologies, and connect with others in the field as well.

Business Report: Cybersecurity Awareness Month

October 12, 2023

Christopher Conklin, VP, Chief Information Security Officer, Chemung Canal Trust Company.

It’s October, which for those in the technology field means it is Cybersecurity Awareness Month.

Since 2004, Cybersecurity Awareness Month has been designated as a time to raise awareness regarding the impact of cybersecurity. Given the devastating impact of cybersecurity attacks, a month does not seem enough. The year 2023 has seen a drastic influx of not only an increase in attacks, but also large payouts to ransomware operators.

No matter the size of an organization, it is a target. No organization is safe from threat actors. Just look at the recent ransomware attacks affecting MGM Grand and Caesar’s Palace in Las Vegas. While these large organizations handle money, casinos are not normally on the list for threat actors until now.

With the increase in attacks and potential costs to organizations, now is the time to focus on basic foundational questions.

Cybersecurity Awareness Month is a popular time for routine tips or practices, but they warrant constant reminders. Traditional guidance holds that organizations should follow several time-tested practices to help protect themselves. They include:

• A safe and secure password.

• Utilize multi-factor authentication when possible.

• Data encryption.

• Routine data backup.

• Keep your devices updated.

• Report phishing attempts.

CultureTalk Corporate Assessment Tools Take Difficult Subjects And Make Them Easy To Explain

October 12, 2023

Theresa Agresta is one of the leaders at CultureTalk in Saratoga.

By Christine Graf

When leaders of the Veterinary Services division of the United States Department of Agriculture (USDA) were tasked with improving the agency’s internal culture, they turned to CultureTalk for help.

CultureTalk, a Saratoga Springs-based company, was founded by sisters Theresa Agresta and Cynthia Forstmann. The USDA is among a long list of companies and agencies from around the world that have utilized the CultureTalk Platform to measure and define workplace culture.

Organizational culture refers to the values, beliefs, attitudes, systems, and rules that outline and influence employee behavior within an organization.

“It’s common for people to talk about culture, but a lot of people don’t fully understand it,” said Agresta. “It is more often found in the ‘unwritten rules’ than the things that have been spelled out. CultureTalk can take something that is difficult to define and make it easy to talk about.”

The sisters came up with the idea for CultureTalk while working together on their first joint venture, brand development company Allegory Studios.

“Cynthia and I developed a niche and expertise in brand development,” said Agresta. “Very early on, we discovered the impact that measuring culture had on the development of an authentic brand. When we were working with a business to differentiate and brand them, the culture was the piece that really stood out to us.”

“If you are selling services, a lot of what you offer is similar to your competitors. It’s your people and your culture that really differentiate you, and that can be why a prospective client might choose your business.”

Amanda Triolo Sees Tremendous Growth At Her Grasshopper Heating & Cooling Business

October 12, 2023

Amanda Triolo is the owner o Grasshopper Heating and Cooling.

By Christine Graf

Thirty-year-old Broadalbin native Amanda Triolo was managing the accounting department at Chris’ Coffee Service when she started flipping houses in her free time. It was a risky proposition but one she thrived on.

“I realized I liked rolling the dice to see what I’m made of,” said Triolo. “So, when I got some money under my belt and got the opportunity to take over a commercial install only HVAC company, I decided to give it a shot.”

Triolo purchased PMA Mechanical LLC in 2016, relocating the business from Broadalbin to Albany. Almost immediately, she recognized the company would have more growth opportunities if she expanded into the residential market.

“From 2016 until COVID happened, I was trying to figure out how to go from the commercial industry to the residential industry,” she said. “I couldn’t figure out how to do it without going bankrupt. I didn’t have the cash flow to be able to hire residential employees and also pay for the commercial employees and wait for the money to come in from commercial jobs.”

In March 2020, while Triolo was still trying to come up with a plan, construction sites were shut down because of the COVID pandemic.

“In the snap of a finger, I had no business at all,” said Triolo. “I had 12 employees at the time, and I had to lay off all but 4.”

Triolo transitioned her remaining employees to residential work, relying on Google ads to market their services. As the phone started ringing, she was able to bring her laid off employees back to work.

Real Estate Professionals Say Strong Demand For Homes Outpaces The Existing Inventory

October 12, 2023

Real estate professionals in the region say it is a tough market for buyers.

By Paul Post

Area real estate professionals say the fourth quarter heading into 2024 continues to be a strong seller’s market as demand far outpaces inventory for prospective homebuyers.

“It seems that there’s been a decline in homes coming on the market during the past year because many people who are at lower interest rates are holding back, they don’t want to have to buy a house at a higher rate,” said Janet Besheer, of Equitas Realty in Saratoga Springs. “They’re just backing off. So there are fewer sales. We have a lot of disappointed people.”

Pending sales throughout the Capital Region declined 9 percent this summer while closed sales dropped more than 26 percent and total inventory was down 28 percent.

Mortgage rates are currently over 7 percent, more than double the 3 percent level of a few years ago.

“That’s causing a certain portion of the market to step back and say, ‘I’m not going to buy now, we’re going to stay put’,” Besheer said. “Others say, ‘We’ll wait till interest rates come down.’ Well that might be a long wait.”

Meanwhile, prices continue to escalate.

“It’s hard for empty nesters to retire, sell and buy in this market,” said Melissa Cartier, of Saratoga Springs-based Cartier Real Estate Group LLC. “They’re getting a lot for their property, sure, but to purchase at such a higher price point? I don’t know.”

“It’s a really tough time for buyers,” she said. “It’s not fun for them. Lots of people have been looking six months, a year. One buyer I know moved out and rented for a full year before finding a house.”

Some people are so anxious to buy that they’re waiving inspections, which she strongly discourages. “We like to see people be confident in what they’re buying,” Cartier said. “We try to have our buyers be more completive in other areas, like giving the seller more time to move out, not just throwing caution to the wind.”

Business Report: A Malaise Or A Meltdown?

October 12, 2023

Steven Luttman, broker/owner of SJ Lincoln Realty, host of The Expected Returns podcast.
Courtesy Steven Luttman

By Steven Luttman

Not all relationships are built to last. In the United States, roughly half of all marriages sadly end in divorce. While a decree marks the actual end, oftentimes discontent has been brewing long beforehand.

This is not limited to personal relationships, as business ties often experience difficult periods as well. Despite changing economic conditions, large scale foreclosure activity has so far failed to materialize. It’s starting to appear however that within the world of commercial real estate, we are within the preceding interval of unease.

Some $1.5 trillion of commercial real estate debt is set to mature before the end of 2025. Whereas residential real estate’s purpose is to provide shelter, commercial real estate is used for business or income-generating purposes. Malls, office towers and warehouses would all be classic examples. In a world of simultaneous low interest and vacancy rates, refinancing maturing debt is a non-issue. In 2023, things are very different.

Over the past 18 months, the Federal Reserve has increased their Fed Funds Rate eleven times, from an effective rate of 0.08 percent in March 2022 to today’s 5.33 percent. This in turn has caused borrowing costs to rise throughout the economy, from credit cards for people like you and me to loan rates for businesses looking to expand.

The result of this abrupt shift in monetary policy is that borrowers who originally obtained loans during the past 15 years of historically low borrowing costs are now faced with refinancing this maturing debt at levels which may turn a once profitable property into a money loser. In this case, securing new financing may not even be possible.