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2018 Could Be A Year For Equity Investors To Reap Rewards For Taking Even Moderate Risk

Posted onJanuary 10, 2018January 11, 2018
Stephen Kyne, partner, Sterling Manor Financial in Saratoga Springs and Rhinebeck.

By Stephen Kyne

As we turn the page on another year, it’s time to take a look back at all that was, and prepare for what lies ahead. For the economy at large, 2017 was a stellar year and we think there is more to look forward to in 2018.

We’re beginning to feel a bit like a broken record when we say that the year has been better than we expected, and we expect the next year to be good as well. Unfortunately, since 2009, many investors have remained on the sidelines and have missed the opportunities that the economy presented since the recession. The good news is that we think there’s still room to run in this expansion—even those shy investors have time left to participate.

This time last year, we expected that U.S. stock indices could easily provide returns in excess of 10 percent, and boy were we right!. As of Dec. 29, the Dow sits up about 25 percent, the S&P is up 18 percent, and the NASDAQ is up a whopping 29 percent for the year, while bond indices have returned in the neighborhood of 2 percent (barely pacing inflation).

Clearly, equity (stock) investors have been rewarded in 2017, as they have been ever since March of 2009. Loosening regulations, lowering corporate taxes and increased consumer activity have all been among the factors that contributed to an environment which is producing record corporate profits and ultimately the beneficiaries have been stock investors.

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Business Report: Time Is A Key Factor In Investing

Posted onJanuary 10, 2018January 11, 2018
Breanna L. Lundy, financial advisor, Edward Jones Financial.
Courtesy Edward Jones Financial

By Breanna L. Lundy

With the arrival of the New Year, many of us will pause and ponder the age-old question: “Who knows where the time goes?” And, as is always the case, none of us really do know. However, wherever the time goes, it will usually be a key factor in your success as an investor.

Time can affect how you invest, and the results of your investing, in different ways:

• Growth potential. Contrary to myth, there’s no real way to “get rich quick” when investing. To build wealth, you need patience – and time. If you own quality investments with growth potential, and you give them years—in fact, decades—to increase in value, your perseverance may be rewarded.

Of course, there are no guarantees, and you’ll need the discipline to withstand the inevitable downturns along the way. But in describing how long he likes to keep his investments, renowned investor Warren Buffet says his favorite holding period is “forever.”

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Art Nouveau, Graphic Prints, High School Show Among Hyde Exhibits Set For 2018

Posted onJanuary 10, 2018January 11, 2018
This oil-on-canvas painting is by Jane Peterson, an American impressionist artist. Some of her works will be on exhibit at the Hyde Museum later this year.

After a landmark year that expanded the Museum’s focus to include modern and contemporary art, the Hyde Collection announced its 2018 exhibition schedule.

The lineup offers contrasts to historic Hyde House and the selection of modern art exhibited in Feibes & Schmitt Gallery, including the sinuous lines of art nouveau, graphic prints from an Adirondack artist, the works of female Impressionists, the annual High School Juried Show, and a much-anticipated showing of the Nuremberg Chronicle from the permanent collection.

The exhibits include:

• Alphonse Mucha: Master of Art Nouvea in the Wood and Whitney-Renz galleries, Jan. 14 to March 18.

The exhibition examines the pivotal role of Alphonse Mucha (1860-1939) in shaping the aesthetics of French art nouveau at the turn of the 20th century. The artist’s posters and graphic style popularized this international movement. Later in his career, the Czech nationalist depicted the history of the Czech lands and people.

Master of Art Nouveau spans his career, including a panel from his Slav Epic series, and bank notes from his homeland. Mucha’s exploitation of the new medium of the advertising poster helped shape the aesthetics of French art at the turn of the twentieth century and formed the cornerstone of the international Art Nouveau movement.

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Renovated Whitehall Armory Is Home To A Multi-Use Athletic Club And Banquet Facility

Posted onDecember 14, 2017December 15, 2017
This full-service bar is part of the renovations of the Whitehall Athletic Club and Whitehall Field Club. Owner Greg Gross, has invested more than $2 million in the facility.
Photo by Jesse Winters

By Maureen Werther

Since moving to the area full-time from New Jersey, Greg Gross, owner of the Whitehall Athletic Club and Whitehall Field Club, has invested more than $2 million to date in the purchase and renovations of the historic Whitehall Armory and the former golf course located 1.5 miles from the club.

In 2009, Gross bought and incorporated the local golf facility, renaming it the Whitehall Field Club. Gross then bought the historic armory from New York state at auction in 2011 and re-opened it as the Whitehall Athletic Club in January 2012.

“We were operational right away,” said Gross, adding that the restorations and updating took 14 months to complete.

“We re-plastered, re-painted, and installed new hardwood flooring,” said Gross.

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Development Plan For Lake George Seeks To Add Housing And Year-Round Businesses

Posted onDecember 14, 2017December 15, 2017
The site of Waterslide World amusement park in Lake George could be redeveloped for senior housing, multi-family housing or retail space, per the proposed economic development plan.
Photo by Jesse Winters

By Jill Nagy

A proposed economic development plan for Lake George envisions a year-round community with more commercial and residential development, a convention center, and a commerce park.

According to Dan Barusch, director of planning and zoning for the Town of Lake George, the plan gives an economic focus to the comprehensive plan adopted in 2015

“There is a lot of good stuff in that [2015] plan, but it has no economic focus,” he said. The comprehensive plan includes a history and background of the region and some general recommendations, he said.

He said it pinpoints areas ripe for development and makes specific recommendations for making some of those areas more attractive to developers.

For example, the plan suggests two possible sites for a commerce park: Route 9 near Northway Exit 21, going north toward Canada Creek; and a 32-acre site along Route 9N, near the southern Northway exit to Lake George, formerly a motel and vacant lot.

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Lake George Regional Chamber Of Commerce Honors Three With Its Annual STAR Awards

Posted onDecember 14, 2017December 15, 2017
Michael Consuelo, retired Chamber executive director, poses with state Sen. Betty Little.
Courtesy Lake George Regional Chamber of Commerce

The Lake George Regional Chamber of Commerce  in November honored two businesses and its office manager with STAR awards.

Each year the chamber honors organizations or individuals that help grow the tourism economy. STAR stands for Supporting Tourism Around the Region. The awards were presented at the 65th anniversary Sapphire Gala at the Sagamore Resort.

State Sen. Elizabeth Little was the keynote speaker at the gala. She has worked tirelessly to improve the tourism economy in the region. Michael Consuelo, who retired as Chamber executive director in September, was also honored at the gala.  Little presented him with Senate proclamation that commemorated his work on tourism in the region during his career.

The Sagamore Resort was one of the STAR honorees. It was given an award for its Ice Bar & Lounge, which pioneered the ice bar trend in the region that has helped grow the winter economy.

The Sagamore Ice Bar & Lounge transforms 18,000 pounds of ice into an outdoor lounge that brings thousands to the area in January, Chamber officials said. It will return for the last two weekends of January. The Sagamore was the first to open an ice bar, and many other resorts and restaurants followed suit, spurring a new winter tourism trend. Sagamore general manager Tom Guay accepted the award.

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Businesses Can Get Money To Upgrade Or Buy Equipment Through New Loan Program

Posted onDecember 14, 2017December 15, 2017

by Susan E. Campbell

A new $500,000 funding source has been established to help fill a niche for small businesses in Warren and Essex counties.

“We are open for business,” saidEd Bartholomew, president of the EDC Warren County, which oversees the fund. “The fund launched in late November and we are already in discussions with some businesses.”

Half of the loan funds comer from New York Empire State Development Corp., with a match from four area banks: Glens Falls National Bank, Adirondack Trust Co., NBT Bank and Ballston Spa National Bank, he said.

EDC Warren County is working in conjunction with the Lake Champlain-Lake George Regional Planning Board to make loans available to a broader geographic base.

Bartholomew said the agencies expect to take applications from smaller businesses seeking $25,000 to $50,000 per loan for purposes such as working capital, buying equipment, acquisition of land or buildings, software upgrades and office technology.

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Personnel Briefs

Posted onDecember 14, 2017December 15, 2017

Glens Falls National Bank and Trust Co.  announced the appointments of Blake Jones to vice president and marketing director and Jillian Cutrone to assistant vice president and communications manager.

As marketing director, Jones will manage the marketing team and oversee the company’s marketing strategy. She most recently served as vice president of communications and has been with the bank for five years.

Jones has nearly 15 years of experience in communications, including a background in journalism. She earned a bachelor’s degree in Mass Communications from Washington and Lee University and is active in the community through service on various local nonprofit committees.

As communications manager, Cutrone will be responsible for corporate communications, media relations and developing content for advertising and marketing campaigns. She will report to Jones.

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Adirondack Mountain Club Releases Second Edition Of Fire Tower Trails Hiking Guide

Posted onDecember 14, 2017December 15, 2017
The new “Views From on High: Fire Tower Trails in the Adirondacks and Catskills.”
Courtesy ADK

The Adirondack Mountain Club, based in Lake George,  has released the second edition of its popular hiking guide, “Views From on High: Fire Tower Trails in the Adirondacks and Catskills.”

Extensively revised and redesigned, it includes a new chapter describing fire towers outside of both parks. The intervening years have seen what co-author Jim Schneider refers to as “fire tower fever,” a sweeping enthusiasm that has helped prompt restoration of numerous towers and their trails.

Written by John P. (Jack) Freeman and Schneider, “Views from on High” enables hikers, history buffs, and others fond of Adirondack and Catskill trails to visit and learn about 30 historic fire towers.

Detailed trail descriptions are accompanied by numerous photographs and maps as well as an essay about these structures written by historic preservationist Wesley H. Haynes. The new chapter, Beyond the Blue Line, by tower aficionado Jacob C. (Jake) Wilde, describes 13 additional fire towers, three of them demonstration towers.

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Local Bank SBA Loans Topped $3.45 Million

Posted onDecember 14, 2017December 15, 2017

The Adirondack Trust Co. had a successful year for its lending through the U.S. Small Business Administration, bank officials said.

For the year ending Sept. 30, the bank approved 42 SBA 7(a) loans, amounting to more than $3.45 million. This makes Adirondack Trust Co. the top lender in Saratoga and Warren Counties as a locally headquartered community bank, officials said.

“We are very pleased with the results of our SBA lending activities this year.  For the fifteenth consecutive year, we were the most active locally headquartered and locally owned bank in both Saratoga and Warren counties, both in terms of number of loans made and in terms of the total dollars loaned, said bank President Stephan von Schenk said.

“Since our founding in 1901, this has been the center of our work. Every day, we work closely with locally owned and operated businesses, and we are proud to be able to help them grow by making SBA and other financing programs available. We are only as strong as our community, and the core of our mission is to continually serve that community and go above and beyond.”

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