Category Archives: Business News

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.

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.

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. 

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. 

The state Department of Environmental Conservation has automated its online sales for all day-use permits at the Lake George Islands.

“Automating the sales of day use permits for the Lake George Islands is easier and faster for visitors,” said DEC Commissioner Basil Seggos. “Instead of boating to an island headquarters to purchase a permit through a manual, labor intensive process, visitors can now quickly and easily book their day use permit online and spend more time enjoying the beauty of Lake George.”

By Susan Elise Campbell

After five years operating Mr. Electric out of their home, co-owners Sean and Jeanne Dion have relocated to a 1,500-square-foot office space at 94 Big Boom Road, Queensbury. 

According to Jeanne Dion, the franchise covers all the electrical needs of clients located between the Twin Bridges and Ticonderoga.

By R.J. DeLuke

A woman who’s career has taken her to London and Ireland is now entrenched in the North Country, operating Placentric Digital Marketing in Glens Falls.

Ann Donnelly has years of marketing experience dealing with a great many companies overseas and in the U.S. She’s concentrating on the Queensbury, Lake George, Glens Falls region, though she can take on clients from virtually anywhere.

Her office is on the third floor at 33 Park St., Glens Falls.

“It’s going well,” she said, noting she belongs to three different chambers of commerce “and they’ve been super supportive of me … The chambers have been a great resource for me and getting to know the area, but also getting to meet the right people.”

 Donnelly is from Fulton County in New York state, but circumstances found her moving to Ireland, where she began digital marketing. A job she held at the time was high pressure, allowing little free time.  It was time to find something else. 

“This was 1998-99. People were starting to use the internet for business and stuff. But I first started doing it just to keep in touch with my family.” With her husband at the time, thy started an accountancy firm. She made a website for the business, “then in a couple of months, we were starting to get inquiries from all over the world.”

The Lake George Regional Convention & Visitors Bureau, an extension of Warren County Tourism, recently launched a refreshed, group-focused website that provides a regional/seasonal focus on meeting spaces and ballrooms, indoor and outdoor sports facilities, wedding venues and services. 

The site—meetlakegeorge.com—has information on group-friendly lodging, activities and dining options, officials said. It features venues that can accommodate festivals, smaller reunions and retreats, and unique gatherings with guests who wish to meet and lodge separately.

“Meetlakegeorge.com was designed to be an extension of visitlakegeorge.com with content that would speak to meeting and event organizers that have group business with the potential to bring their business to all of Warren County,” said Lake George Regional Chamber of Commerce & CVB Executive Director Gina Mintzer.