By Susan E. Campbell
Robert Murphy is moving his Craft on 9 restaurant and tap room from Moreau to 7 South St. in the heart of Glens Falls.
After only two and a half years, his first restaurant will soon have double the seating and offer a fine dining and a high-end lounge experience.
Murphy took over the space at 1451 Route 9 when Luisa Italian Restaurant closed. His concept was a gastropub, with a full array of craft beers and stouts, plus wine and mixed drinks. The restaurant quickly grew to have a reputation for fast service of sandwiches, burgers and entrees and for outstanding cocktails
“Now we are running out of room,” he said. “I learned over five years as the kitchen manager at Bistro Tallulah the importance of minimizing the wait on a Friday or Saturday night.”
For Long-Term Investment, Market Correction In 2018 Fourth Quarter Means Opportunity
By Kenneth J. Entenmann, CFA
What a difference three months make. At the end of the third quarter of 2018, every equity market index was posting significant positive returns, and the markets were focused on an overheating economy and the fear of rapidly rising interest rates.
Suddenly, market psychology turned sharply negative, and the new fear was an imminent global economic recession brought on by trade wars, overaggressive central bank policy and an earnings recession. By year’s end, volatility spiked to levels not seen since 2008, and all the major equity indices were decidedly negative. International markets suffered the most, with the developed markets (MSCI-EAFE Index) falling 13.32 percent and the emerging market (MSCI-EM Index) falling 14.49 percent.
The domestic equity markets fared better, but still posted negative returns for the year—Dow Jones Industrial Average fell 3.38 percent, S&P 500 fell 4.39 percent, Nasdaq composite fell 2.81 percent and Russell 2000 fell 11.03 percent—a very tumultuous end to 2018.
In Technology Age, Face-To-Face Interaction Important, But Even That Can Be High-Tech
By Jennifer Farnsworth
As technology continues to grow and expand across the business sector, accounting firms have worked hard to keep up.
Accounting advisory and consulting services have benefited from the way technology has allowed them to work with clients without meeting face-to-face. But these services still need to be personalized. Many local firms have found ways to balance technology with personalized service.
Kristen D. Berdar, CPA, CMA, a partner at BST & Co. CPAs LLP, runs the company’s Virtual Accounting Solutions Division. She said they offer outsourced CFO and accounting solutions for clients on a cloud-based platform, working entirely outside of the client’s office.
They work to create a personalized service that is based on each individual client’s needs and goals.
“We utilize technology to automate and streamline their accounting processes. We also offer them a sense of comfort by knowing their accounting is managed effectively and efficiently by a CPA firm that can also adapt to their changing needs,” said Berdar.
Business Report: The Power Of A Power Of Attorney
Debra A. Verni, Esq.
Recently, I received an email from one of my client’s daughters. It was mom’s 90th birthday and she took mom to a casino.
Mom won $1,300 on a slot machine. When the staff member came over to cash mom out and give mom her winnings, she asked for photo ID. Mom let her license expire years ago, as she was no longer driving so she did not have a photo ID.
The daughter asked the casino staff member if she could sign for mom as power of attorney because she had photo ID. They said no. Apparently, the rule is that the person who won the money (pushed the button on the slot machine) has to be the one to collect it, so she could not use the power of attorney to collect mom’s winnings.
Although the power of attorney is a very powerful document, it is not powerful enough to collect casino winnings. So why do you need a power of attorney?
Curtis Lumber Staff Tracks Development Projects, Help Companies Find Right Products
By Greg Hitchcock
It all started with a sawmill. In 1827, Captain Isaac Henry Curtis built his sawmill on Charlton Road and by it’s 125th anniversary in 2015, Curtis Lumber Co. grew to over 600 employees in 21 locations in New York and northern Vermont.
It had $200 million in sales in 2018, according to the company.
Aside from selling materials, part of the company’s effort goes to working with builders and design teams to see what projects are going on and how Curtis Lumber can help them.
Margie Miller, architectural representative for Curtis Lumber, said the company’s success couldn’t have happened without a strong, knowledgeable sales team and good customer service from the Curtis Lumber team.
Local Association For Mental Health Plans To Build An Apartment Building For Homeless
Courtesy Warren-Washington Association for Mental Health
By Greg Hitchcock
A newly proposed housing project for the homeless is in the works in Glens Falls.
The Warren-Washington Association for Mental Health Inc. is planning to build a 28-unit apartment building at 47-50 Cooper St.
After being awarded $9.2 million in grants for operating and building the housing development, Andrea Deepe, executive director of the association, said the next steps are to appear before the city Planning Board for approval, while educating the public on the merits of the project.
“We already have a presence on Maple Street, nearby,” Deepe said.
Construction Group Says Employment Numbers Rose In January, And 2018 Overall
Construction employment increased by 52,000 jobs in January and by 338,000 jobs, or 4.7 percent, over the past year, while the latest reading on construction spending showed moderate increases in all major categories, according to an analysis of new government data by the Associated General Contractors of America. (AGC).
Association officials urged government officials to strengthen career and technical education programs and facilitate immigration for workers with construction skills before a worker shortage stalls completion of needed infrastructure.
“There has been no letup in demand for construction projects—or workers,” said Ken Simonson, the association’s chief economist. “Even though the industry added employees at more than double the pace of the overall economy in the past year, the average workweek in construction reached an all-time high and unemployment in construction hit a series low, indicating that contractors would hire even more workers if they were available.”
Sale Prices Of Homes In Capital Region Rose In 2018, Coming In 6 Percent Above 2017
For the fifth consecutive year home prices appreciated according to the housing market report released today by the New York State Association of Realtors.
Home prices in 2018 rose 6 percent above 2017 figures. The $265,000 median sales price at the end of 2018 topped the 2017 median price of $250,000. In 2014, the median price was $225,000 the association said.
The report said the total sales that were closed in Warren County was 1,016, down 5.6 percent from 2017. Sellers received 96.3 percent of the list price in 2018.
In Washington County, there were 681 closings by Realtors, down 7.1 percent from 2017, the report said. Sellers received 96.6 percent of the list price.
Hilltop Construction Honored For Its Part As Builder Of Luxury Home On Brant Lake
Courtesy of Hilltop Construction
By. R.J. DeLuke
Hilltop Construction Co. of Hudson Falls was bestowed a certificate of merit from AIA Vermont, a chapter of the American Institute of Architects, as the builder of a lake house on Brant Lake, referred to as ADK Camp.
Birdseye Design of Richmond, Vt., was the architect on the project and was also bestowed the honor.
According to Birdseye, the structure is a private residence on Brant Lake, owned by the same family for four generations. The five-acre site is had two existing boathouses, a tree-lined carriage road, and a vintage waterfront cabin.
“This lake house for two families was an early favorite among the jury. It was one of the few projects that thoroughly redefined its site with the introduction of a new building that clearly contrasted in scale and expression with the existing buildings on the site, casting them into entirely new light” said the comments from the jury that reviewed all award submissions and selected the winners.
State’s Family Leave Program Will Impact Employee Scheduling, Among Other Things
Courtesy Hamel Resources LLC
By Christine Graf
The state’s paid family leave program (PFL) is having a significant impact on some businesses, say those in the Human Resources field.
New York’s PFL has been in effect since 2018, but won’t be completely phased in until 2021. It provides paid time off for individuals to bond with a newly born, adopted or fostered child, care for a family member with a serious illness, or assist a loved one when a family member is deployed abroad on active military service.
As of Jan. 1, New Yorkers may be eligible to take up to 10 weeks of family leave and receive 55 percent of their salary. By 2021, 12 weeks of leave will be offered at 67 percent pay. Weekly pay caps are calculated based on state averages.
Gail Hamel, the owner of Lake George-based Hamel Resources, said the law impacts some businesses more than others. She is a human resources consultant who works with both large and small businesses.
“The biggest thing with the paid family leave act is certainly scheduling,” she said. “Especially when you have an employer with a limited number of employees.”
She said many of her smaller clients were exempt from the FMLA because they had less than 50 employees. That is not the case with New York’s PFL. Although public employ