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Jake Van Ness

2231 Articles

Business Report: What Goes Into A Retirement ‘Paycheck’?

Posted onMarch 21, 2023
John M. Gable joined Edward Jones Financial after a 30-year career in the IT business.
Courtesy Edward Jones Financial

By John Gable

During your working years, you generally know how much money you’re bringing in, so you can budget accordingly. But once you’re retired, it’s a different story. However, with some diligence, you can put together a “paycheck” that can help you meet your income needs.  

Where will this paycheck come from? Social Security benefits should replace about 40 percent of one’s pre-retirement earnings, according to the Social Security Administration, but this figure varies widely based on an individual’s circumstances. 

Typically, the higher your income before you retire, the lower the percentage will be replaced by Social Security. Private pensions have become much rarer in recent decades, though you might receive one if you worked for a government agency or a large company. But in any case, to fill out your retirement paycheck, you may need to draw heavily on your investment portfolio.   

Your portfolio can provide you with income in these ways:

• Dividends. When you were working, and you didn’t have to depend on your portfolio for income to the extent you will when you’re retired, you may have reinvested the dividends you received from stocks and stock-based mutual funds, increasing the number of shares you own in these investments. 

And that was a good move, because increased share ownership is a great way to help build wealth. But once you’re retired, you may need to start accepting the dividends to boost your cash flow.

Read More

Officials At ‘State Of CDTA’ Meeting Stress Merger With Glens Falls Transit District

Posted onMarch 21, 2023
Officials discuss CDTA business at a recent gathering called the ‘State of CDTA,’ wherein they said merging with the Glens Falls Transit District was among its priorities.
Courtesy CDTA

CDTA, which oversees public transportation in the Capital District, is working hard in 2023 to expand its services. In a State of CDTA meeting on March 2, officials said merging with the Glens Falls Transit District was among its priorities.

A new transit line and electric bikes and an expansion are also among the changes on the horizon, officials said.

The event recognized how CDTA is “entering 2023 from a position of strength, innovation, and confidence,” officials said. 

According to CDTA, “ridership is rebounding quickly. For the past year, ridership is up 20 percent, fueled by universal access agreements with even more major employers, colleges and other partners.”

 Total ridership for the first 10 months of the CDTA fiscal year is 11.4 million. This brings the CDTA ridership count to more than 90 percent  of what it was before the COVID pandemic began, officials said. 

Establishing new regional mobility hubs remains a top priority for the transit association. Merging with the Glens Falls Transit District to provide transportation services would make  Warren County its sixth county partner. The partnership would provide Warren County residents with access to other municipalities.

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Zobel & Co. Kitchens Earns Another ‘Best Of Houzz’ Service Award From Online Platform

Posted onMarch 21, 2023

Zobel & Co. Kitchens has won a “Best of Houzz” Service award on Houzz, an online platform for home remodeling and design, including the all-in-one software solution for industry professionals.

The custom kitchen and cabinetry design firm, located in the Union Square Building in Glens Falls, was chosen by the millions of homeowners that comprise the Houzz community from among more than 3 million active home building, remodeling and design industry professionals.

Best of Houzz Customer Service award honors professionals whose work was the most popular among the Houzz community, based on several factors, including a professional’s overall rating on Houzz and client reviews submitted in 2022.   This is the ninth consecutive year Zobel & Co. Kitchens has received this award.

“Decades of design expertise is just one of the factors that make us successful”, said Arthur Zobel. “Being a boutique firm gives us the opportunity to be very thorough, giving each client our upmost attention, even after our part in their project has been completed.  Our dedication to our clients is evidenced in our Houzz reviews”

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Couple Buys Depe Dene Resort On Lake George, Their Fourth Facility, For $11.4M

Posted onFebruary 17, 2023
The husband and wife team Christopher Menter and Jessica Ferguson bought Depe Dene Resort for $11.4 million. It was part of the estate of Ken Ermiger, who operated the resort for 45 years.
Courtesy Depe Dene

By Susan Elise Campbell

The Depe Dene Resort, sitting on 750 feet of prime Lake George waterfront, has been sold to husband and wife team Christopher Menter and Jessica Ferguson for $11.4 million.

The Depe Dene was part of the estate of Ken Ermiger, a local businessman who operated the resort for 45 years.

“We knew of a few potential buyers who were aggressively trying to put in a bid,” Menter said. “But we came up with the right number in the right time frame.”

He said that the executor of the estate was hoping to finalize a sale before the year ended.

Read More

Hirsch Sells 130-Year-Old Family Business ‘Binley Florist’ To His Long-Time Employee

Posted onFebruary 17, 2023
Binley Florist, a 130-year-old family owned business has been sold to Tami Field, a longtime employee and general manager of the business, and her husband Dave.
Courtesy Binley Florist

By Paul Post

Binley Florist has been there for its customers’ best and worst of times, welcoming new life to the world, weddings, milestone anniversaries, and painful loss when flowers voice expressions of sympathy.

But after decades on the job, owner Wally Hirsch has sold the iconic, 130-year-old business to long-time employee and general manager Tami Field and her husband, Dave.

“I’m 75,” Hirsch said. “I’ve probably been doing this for 60 years. It’s time. Tami has really earned her place at the helm. She’s been a good, faithful employee. I’ve had a lot of good employees over the years. They’ve been loyal to us through recessions, through pandemics. This is an old business. We’ve seen it all.”

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Arrow Financial Names Penko Ivanov As Chief Financial Officer Effective Feb. 22

Posted onFebruary 17, 2023
Penko Ivanov was named as chief financial officer at Arrow Financial Corp.
Courtesy Arrow Financial Corp.

Arrow Financial Corp. announced the appointment of Penko Ivanov, CPA, MBA, as chief financial officer, executive vice president, treasurer and chief accounting officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., as well as its insurance subsidiary, Upstate Agency, LLC.

The appointment is effective Feb. 21.

As CFO, Ivanov will be responsible for planning and management of all finance, treasury and accounting functions for Arrow, which reported $3.97 billion in assets as of Dec.  31. 

He will be based in the company’s Glens Falls headquarters and report to Arrow President and Chief Executive Officer Tom Murphy.

“We are pleased to welcome Penko to the Arrow family of companies,” said Murphy. “His 30 years of experience and expertise in financial planning and analysis, controllership, financial reporting, treasury and more will be invaluable as we build upon Arrow’s strong financial footing and continued growth.”

“I am excited to join Arrow and contribute to its track record of stellar financial performance and management. I look forward to assisting the company in its strategic and financial goals,” said Ivanov.

Read More

Dr. John Rugge Is Recipient Of This Year’s Walter Juckett Community Service Award

Posted onFebruary 17, 2023
Dr. John Rugge is the recipient of the Juckett Community Service Award for 2023.
Courtesy ARCC

The Adirondack Regional Chamber of Commerce announced that the 34th Annual J. Walter Juckett Community Service Award will be presented to Dr. John Rugge, retired physician, and the founder of Hudson Headwaters Health Network.

Rugge will be presented with the award at the ARCC annual dinner on  March 10, at The Sagamore Resort in Bolton Landing.

The event begins at 5:30 p.m. with registration and a cocktail reception. At 7 p.m. will be dinner with live music. The Juckett Award ceremony is scheduled for 8 p.m.

“We are excited to celebrate Dr. John Rugge as the 34th Annual J. Walter Juckett award honoree,” said ARCC President & CEO Tricia Rogers. “Dr. Rugge is so deserving of this honor. As the founder of Hudson Headwaters Health Network, his passion and drive to further healthcare in our region is admirable. We are fortunate that Dr. Rugge chose to stay in our region and establish a healthcare system that helps so many of our community members.”

Rugge was a family physician who came to the Adirondacks to finish writing a canoe book in 1974. He then accepted a position with the Glens Falls Hospital to serve as supervising physician at a new health center in Chestertown, with the intention of practicing for six months before returning to Albany Medical Center.

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Hyde Museum Board Of Trustees Names John Lefner As New Chief Executive Officer

Posted onFebruary 17, 2023
John Lefner, chief executive officer at The Hyde Museum.
Courtesy The Hyde

The board of trustees of The Hyde Collection  announced the election of John Lefner as the museum’s new chief executive officer (CEO). 

Lefner will replace retiring CEO Norman E. Dascher Jr. on May 1.

“We are very thankful to Norm Dascher for his exceptional leadership during a difficult period for The Hyde Collection,” said Jason Ward, chair of the board of trustees. “His vision and business acumen financially stabilized our organization, reducing expenses by creating a five-year capital replacement plan and instituting smart financial decisions to minimize monthly expenses for the organization. 

“He established a successful new development program, implemented a new position for the curator of modern and contemporary art, updated hardware, software, and the security system, led the organization through a successful American Alliance of Museums Museum Assessment Program (MAP) review, updated the strategic plan, and so much more. The Hyde is very well-positioned for a leadership transition.”

Ward said Lefner’s “will mark a new era of growth and civic engagement for the museum. John is deeply committed to pursuing the vision to bring exceptional exhibitions and programming to The Hyde, like this summer’s premiere Songs of the Horizon: David Smith, Music, and Dance. 

Read More

Personnel Briefs: February 2023

Posted onFebruary 17, 2023

Northern Insuring, Inc. announced the addition of Rhonda Rosick to the Personal Insurance Division in its Glens Falls office. 

Rosick, of Hudson Falls, holds a New York State property and casualty insurance license.

She comes to the organization with nearly 20 years of experience.

As a senior account manager she will focus on servicing our existing personal insurance books along with writing new business.

***

Brown Brothers Automotive, an automotive sales and repair shop in Hudson Falls, announced that Dan Lanoir was hired as a sales associate. 

Lanoir comes to Brown Brothers Automotive with 35 years of experience in the automotive industry.

Lanoir, of Queensbury, attended Ithaca College, where he starred as a linebacker on the football team. He has over 35 years of experience selling new and used vehicles in the  local community. Dan and his

***

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IGNITE Fitness Holdings Expands Into 16,000-Plus SF Space At Aviation Mall

Posted onFebruary 17, 2023
IGNITE officials said the company invested approximately $1 million to add 2,000 square feet to the club, bringing its total size to approximately 16,523 square feet.
Courtesy Aviation Mall

IGNITE Fitness Holdings, one of the largest Planet Fitness franchisees, has announced the complete remodel and expansion of its club at the Aviation Mall in Queensbury.

IGNITE officials said the company invested approximately $1 million to add 2,000 square feet to the club, bringing its total size to approximately 16,523 square feet, giving members even more room to work out. 

The club also features new, updated cardio equipment and a new HydroMassage bed, and is equipped with the PF 360, a functional training machine packed with kettlebells, resistance bands, and more.

“As the Queensbury community works toward their fitness resolutions or are looking to get moving, we’re happy to announce this expansion, providing even more space for our members to spread out and utilize our state-of-the-art equipment,” said John Hrinda, upstate New York vice president of operations for IGNITE Fitness Holdings. 

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