Glens Falls Business Journal

Race Course Meet Eclipses $800 Million In Handle To Set New Track Wagering Record

September 17, 2021

Essential Quality, left, wins the 152nd Travers at Saratoga Race Course.
Courtesy NYRA

For the first time in its history, the 40-day summer meet at historic Saratoga Race Course generated all-sources wagering handle of more than $800 million, the New York Racing Association (NYRA) announced.

Having established the new record on Sept. 1, with five racing days remaining in the season, the 2021 summer meet ended with all-sources handle of $815,508,063, a 15.6 percent increase over the prior record of $705,343,949 set in 2019, officials said.

With paid attendance totaling 1,046,478, and excluding 2020 when fans were not permitted due to the COVID-19 pandemic, 2021 marked the sixth consecutive season of more than 1 million in paid attendance at Saratoga Race Course. Average daily attendance during the 40-day meet was 26,162.

“Thanks to the energy, enthusiasm and support of the best fans in horse racing, the 2021 summer meet at Saratoga Race Course has been a tremendous success,” said NYRA President and CEO Dave O’Rourke. “This has been a summer reunion like never before, and we’re especially pleased that the return of fans has translated into strong business for downtown Saratoga Springs and the entire Capital Region community. The summer meet at Saratoga is as strong as at any point in its storied history.”

Personnel Briefs: September 2021

September 17, 2021

Glens Falls National Bank and Trust Co. announced that Matthew Curren has been promoted to retail banking regional manager for the Adirondack Region.

Curren will oversee the banking operations, customer experience and staff of 14 offices located throughout Warren, Essex and Clinton counties.

He joined Glens Falls National Bank in 2018 as branch manager of the Schroon Lake office and was most recently the regional operations manager.

Curren earned a Bachelor of Arts degree from SUNY Potsdam. He grew up in Bolton Landing and currently lives in Schroon Lake. He is involved in the community as a board member of the Schroon Lake Chamber of Commerce and the Adirondack Marathon Distance Festival.

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Northern Insuring Agency, Inc. announced the addition of Patrick Kowalczyk to its Personal Insurance Division sales team.

Kowalczyk began his insurance career in 2010 and currently holds his state property and casualty license and a state life, accident & health license. He will begin courses to earn his Certified Insurance Service Representative (CISR) designation.

He is a native of the Utica area and a 30-year resident of the Glens Falls area. He currently resides in Queensbury.

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Law Firm Little & O’Connor Attorneys Merges With FitzGerald Morris Baker Firth

September 17, 2021

Michael O’Connor, left, and John Aspland Jr. have merged their law firms.
Courtesy Normandin Marketing

By Christine Graf

Attorneys Michael O’Connor and Elizabeth Little of Little & O’Connor Attorneys PC of Glens Falls have merged their practice with FitzGerald Morris Baker Firth PC.

Both attorneys and their paralegals have made the move to 68 Warren St. where FitzGerald Morris is headquartered. Prior to the merger, the firm employed 14 attorneys and a total staff of 32.

According to FitzGerald Morris Baker Firth managing partner John Aspland Jr., he and O’Connor have been friends for many years. The idea of merging firms began to take root 10 years ago.

“We had some communications about 10 years ago where we started discussing some of the synergies between what he does and what we do and the clients that we have that have some common interests. We started that conversation and occasionally over the years revisited the discussion. He is an icon in the local legal community and has some fantastic clients that are very active,” Aspland said.

They recently revisited the idea and after determining that a merger would enable them to better serve their clients, they decided to move forward. The agreement was finalized on July 8 and took effect Aug. 1.

Diane Shugrue To Retire At End Of Year After 14 Years As CEO Of Glens Falls Hospital

September 17, 2021

Glens Falls Hospital President and CEO Dianne Shugrue will retire Dec. 31.
Courtesy Glens Falls Hospital

Glens Falls Hospital President and CEO Dianne Shugrue will retire Dec. 31 after a 14-year career at Glens Falls and 40-year career in health care.

Paul Scimeca Sr., vice president and chief operating officer, has been named interim president and CEO.

Shugrue led the hospital during the COVID-19 pandemic, through significant financial challenges, a historic affiliation with Albany Medical Center and national health care accreditation.

“Dianne Shugrue took over as president and CEO of the hospital at a crucial time,” said Glens Falls Hospital Board of Governors Chair George Ferone. “Her steady, courageous leadership, collaborative and personal approach and deep knowledge of health care have paid huge benefits for this hospital and this community. She has been a fierce advocate for our physicians, nurses, staff, community and the institution itself. ”

Dr. Chris Mason, president of the Glens Falls Hospital Medical Staff, said Shugrue “has experienced many challenges during her tenure, from navigating the uncharted waters of COVID19 to leading the institution through a major affiliation. This visionary leadership has helped Glens Falls Hospital maintain critical services for the community and provide opportunities for collaboration with partners in the Capital Region. Glens Falls Hospital has a tremendous future ahead due to Dianne’s foresight.”

Tiki Tours Adds 30-Foot Pontoon Boat To Its Fleet, Expanding Presence On Lake George

September 17, 2021

Tiki Tours has added a new 30-foot tikied pontoon boat to its fleet.

The second boat allows Tiki Tours to offer more trips to meet growing demand, the company said.

“Tiki Tours has seen tremendous growth in the last few years and is excited to add another vessel on Lake George,” said Tiki Tours co-owner Gregory Teresi. “This 30-foot tikied pontoon adds a whole new level of comfort to the Lake George experience. We want to thank the Lake George Beach Club, the Village of Lake George, the Lake George Park Commission and the Lake George Regional Chamber of Commerce for their continued support.”

General Contractors Of America Says Finding Workers To Fill Jobs Is Still Problematic

September 17, 2021

Construction firms are struggling to find enough qualified workers to hire, even as they continue to be impacted by pandemic-induced project delays and supply chain disruptions, according to the results of a workforce survey conducted by the Associated General Contractors of America and Autodesk.

The survey results underscore how the coronavirus pandemic has created constraints on the demand for work even as it limits the number of workers available to hire, association officials said.

The association and Autodesk conducted the Workforce Survey in late July and early August. Over 2,100 firms completed the survey from a broad cross-section of the construction industry, including union and open shop firms of all sizes. The 2021 Workforce Survey is the association’s ninth annual workforce-related survey.

“Market conditions are nowhere near as robust as they were prior to the onset of the pandemic,” said Ken Simonson, the association’s chief economist. “At the same time, the pandemic and political responses to it are limiting the size of the workforce, leading to labor shortages that are as severe as they were in 2019 when demand for construction was more robust.”

Simonson noted that nearly nine out of ten firms (88 percent) are experiencing project delays. Among these firms, 75 percent cite delays due to longer lead times or shortages of materials, while 57 percent cite delivery delays. Sixty-one percent of firms said their projects are being delayed because of workforce shortages. And delays due to the lack of approvals or inspectors, or an owner’s directive to halt or redesign a project, were each cited by 30 percent of contractors.

Those Working At Home Advised To Have Space That Is Both Productive And Pleasing

September 17, 2021

Katelyn Moskos is the owner and interior designer at Lake George Design.
Courtesy Lake George Design

By Christine Graf

Because of the COVID-19 pandemic, more Americans are working from home than ever before. The remote workforce grew from 22 percent in 2019 to forty-two percent in 2020. In some white-collar professions, 80 percent of workers continue to work remotely, and because employers are realizing that employees can be just as productive from home, remote work options are expected to become common even after the pandemic ends.

For those who are spending more time in their home offices, interior designers suggest having a space that is both productive and aesthetically pleasing.

Proper lighting in a workspace can increase productivity while poor lighting can cause eyestrain and headaches. Research shows that poor lighting can also contribute to depression and other deficiencies in the body. Adequate light has been shown to improve both mood and energy levels.

According to Lake George Design owner, interior designer Katelyn Moskos, those who don’t have access to natural light have various options.

CEG Launches Region’s Largest Offshore Wind Industry Attraction Initiative

September 17, 2021

The Center for Economic Growth (CEG) is involved in an initiative to bring more offshore wind (OSW) development to the Capital Region and beyond in New York state.

The agency, dedicated to driving economic growth in an eight-county region that includes Saratoga, Washington and Warren counties, said there are two companies that are working with the technology. Through them, CEG will help bring the energy source to the region.

“With Equinor and Ørsted/Eversource planning major offshore wind component manufacturing operations in the Capital Region, we have the wind at our back. We want to further build out here the supply chain for this emerging industry on the East Coast that will drive the creation of thousands of jobs,” said CEG Chief Economic Development Officer Katie Newcombe.

CEG promoted local OSW opportunities at the Business Network for Offshore Wind’s International Partnering Forum (IPF) in Richmond, Va., in August. IPF is the largest offshore wind conference in the Western hemisphere, bringing together the global offshore wind supply chain for business growth and networking opportunities.

Adirondack EAP Provides Employees In The Area With Counseling And Training Services

September 17, 2021

Richard Demers is retiring soon as executive director of Adirondack EAP and Susan McManus, now program director, will be stepping into that position.

By Susan Elise Campbell

The Employee Assistance Program of Warren, Washington, and Saratoga Counties (Adirondack EAP) will turn the corner on 40 years with a new executive director at its helm.

Richard J. Demers is soon to retire as executive director after 36 years.

Over the decades Demers and his staff established Adirondack EAP as a valuable community resource providing free and confidential assessment, counseling, and referrals for employees of member organizations and their families, according to Tracey Riley, president of the board of directors and vice president of human resources at Finch Paper.

Adirondack EAP is a local, rather than a national EAP, with its main office at 559 Glen St. and affiliated offices in Plattsburg, Saratoga Springs, Albany, Clifton Falls, and other locations.

Today there are 60 member companies and 25,000 employees and their families have been served, Riley said.

EAP counselors work in a consultative role with managers and supervisors of member companies, providing them mindfulness training or other assistance, such as helping with transitions if there has been a tragedy in the workplace, McManus said.

Business Report: Cyber Insurance Is Important

September 17, 2021

Melissa Davidson, licensed sales executive at Northern Insuring Agency.

By Melissa Davidson

Cyber insurance, which not too long ago was thought of as a want and not a need, is now considered a primary component in many business insurance policies. Cyberattacks are on the rise with breaches becoming more frequent and losses becoming more severe.

According to AM Best, “The loss ratio for cyber insurance rose dramatically in 2020, [up] to 67.8 percent from 44.8 percent in 2019. However, the increase was not limited to just a few insurers—the loss ratio rose for 15 of the 20 largest cyber insurers.”

Cyber liability insurance generally covers a business’s liability for a data breach involving sensitive customer information: such as Social Security numbers, credit card numbers, account numbers, driver’s license numbers and health records.

Those costs can include lost income due to a cyber event, costs associated with notifying customers affected by a breach, costs for recovering compromised data, costs for repairing damaged computer systems and more. Moreover, cyber coverage is not automatically included in general liability coverage and is generally excluded. This coverage needs to be purchased separately.