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Jake Van Ness

2079 Articles

Company’s Donation Helps Saratoga Hospital Get Cardiac Equipment For Newborns

Posted onJanuary 17, 2022

Babies born at Saratoga Hospital can now benefit from advanced cardiac monitoring equipment made possible by a gift from the Nemer family and Nemer Chrysler Jeep Dodge Ram of Saratoga.

Hospital officials said about 10 percent of newborns need help breathing at birth. Getting an accurate measurement of their heart rate is critical but often challenging. The Nemers’ pledge of $26,000 will enable Saratoga Hospital to buy four neonatal cardiac monitors to enhance care for these babies.

 “With this new equipment, we can begin evaluating and monitoring neonates during their first few minutes of life,” said Dr. Jennifer Lefner, chief of newborn medicine at Saratoga Hospital. “We will have critical, immediate information on how strong their heart rate is and how well they are responding to resuscitation measures.”

 Two young members of the Nemer family were born with heart conditions, so the family knows firsthand how important early monitoring can be.

 “Once again the Nemers are drawing on their own experience to improve—and, in some cases, even save—the lives of their neighbors in Saratoga County,” said Mary Solomons, executive director of Saratoga Hospital Foundation, the philanthropic arm of Saratoga Hospital. “Their gift is an extraordinary example of empathy and generosity, and we are most grateful.”

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Albany Med Financial Aid Program Applies To Saratoga And Glens Falls Hospitals

Posted onJanuary 17, 2022

The Albany Med Health System has developed a financial assistance program (FAP) that it says will benefit patients receiving care at any hospital within the system or from any provider employed by any of its facilities, including Albany Medical Center Hospital, Albany Medical College, Columbia Memorial Health, Saratoga Hospital and Glens Falls Hospital.

“The Albany Med Heath System is committed to minimizing the financial barriers to health care that exist for some members of our community and to ensuring that patients do not forgo necessary care due to worry about cost,” said Dr. Dennis McKenna,  president and chief executive officer of the Albany Med Health System. “This program is another example of how the hospitals within our system are working together to make access to high-quality care easier for everyone in our communities.”

FAP helps uninsured and underinsured patients with a gross household income up to 400 percent of the federal income poverty guidelines, which is calculated based on annual income and number of persons in household. Eligibility is based on the federal income poverty guidelines in effect at the time of application. 

Patients seeking access to the FAP will be required to complete a signed application and provide documentation to verify income. Financial assistance will only be applied after all insurance coverage has been exhausted or for uninsured self-pay patients. Once approved, assistance will be available for all services provided at any facility within the system or from any of its providers.

The Financial Assistance Program is one step in the Albany Med Health System’s ongoing efforts to make access to health care easier for patients. In the future, the system will offer coordinated or fully integrated care in a wide variety of specialties. 

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National Health Care Groups Ask That COVID Emergency Period Be Extended

Posted onJanuary 17, 2022

With the public health emergency (PHE) set to expire on Jan. 16, the American Health Care Association and National Center for Assisted Living (AHCA/NCAL) are asking for an extension of the emergency period.

The groups sent a letter to U.S. Health and Human Services Secretary Xavier Becerra to request an extension of the PHE declaration as long term care providers continue to fight COVID-19. 

The highly contagious Omicron variant is projected to spread at a high rate for weeks to come and continues to cause a surge in cases across the country, leaving vulnerable populations, such as those in long term care facilities, at serious risk, the organizations said.

AHCA/NCAL President and CEO Mark Parkinson writes said in the letter, “Due to the ongoing and unpredictable battle long term and post-acute care providers must continue to wage against COVID-19, we strongly encourage you to continue to extend the PHE declaration and maintain the related Section 1135 and Section 1812(f) waivers, enhanced Medicaid FMAP to states, and state Medicaid policy flexibilities, such as the waiver for Medicaid redeterminations.”

The letter further explains the unprecedented challenges the long term care sector is facing, including a historic labor crisis that has resulted in a 15 percent decline in its workforce since the beginning of the pandemic. 

This has caused nursing homes to limit admissions, putting more strain on overwhelmed hospitals that rely on nursing homes to free up beds. Parkinson wrote that extending the PHE would help health care providers respond to this challenge:

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Business Report: Does Your Business Have An Exit Strategy

Posted onJanuary 17, 2022
Robert Snell, financial adviser with Edward Jones Financial in Saratoga Springs.

By Rob Snell

If you’re a business owner, you’ve got so much to think about, and you work so hard, that it might be difficult to envision the day when you’re in a different place in life. 

However, that day will likely arrive, so you’ll want to be prepared for it, which means you’ll need an exit strategy. But how do you create one? 

Here are some steps that can prove helpful:

 • Start planning early. Making a quick exit is probably not a viable strategy for most business owners. Instead, you’ll want to plan far ahead for when you want to leave your business behind. 

This will require some thinking about the big picture: What will the company look like when you’re gone? Are you essential to its survival? If not, do you want to sell it to a key employee or an outsider? Or would you prefer to keep it in the family? 

After you’ve answered these types of questions, you can then move on to consider specific solutions, such as creating a buy-sell agreement with an employee or gradually transferring the business to family members. 

• Determine how to fill a retirement income gap. You could spend two, or even three, decades in retirement – so you’ll want to be sure you’ll have an adequate income stream to cover all those years. 

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Business Report: Economy Can Grow In 2022

Posted onJanuary 17, 2022January 17, 2022
Bill Canty, CPA, CFP, founder, CFM Tax and Investment Advisors.
Courtesy CFM Tax and Investment Advisors

By Bill Canty, CPA, CFP

Even as the pandemic continued, 2021 was another strong year for the markets, though returns varied a bit across various market segments. The S&P 500 index gained 28.7 percent in 2021 as large cap stocks had another strong year. The index set numerous new highs during the year. This marks the third consecutive strong year for the S&P and for stocks. 

The tech-heavy NASDAQ  gained 21.4 percent in 2021 and the Dow Jones Industrial Average added 18.7 percent for the year. This represented only the sixth time that the S&P 500 beat both the Dow and the NASDAQ in the same year, and the first time this has happened since 2005. 

The Russell 2000, made up of small cap stocks, was up 13.7 percent for the year. Most broad non-U.S. stock indexes also under performed that U.S. market. 

Gains were not uniform and 2021 saw the rise of “meme” stocks where large groups of investors would buy shares of stocks like Game Stop and AMC Entertainment in an attempt to bid up the price and inflict losses on hedge funds who had short positions in the shares. 

Gains across the S&P 500 were concentrated to an extent, with five stocks comprising just under 33 percent of the index’s returns according to Goldman Sachs. The five stocks were Apple, Microsoft, Nvidia, Tesla and Alphabet (parent of Google). 

Dissecting the gains in the S&P 500 showed that the technology sector of the S&P 500 played a true leadership role in the gains of the index in 2022 as it has over the past several years. 

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Business Briefs: January 2022

Posted onJanuary 17, 2022

Due to increased COVID-19 cases, Discover Saratoga has decided to reschedule Saratoga Chowder Fest ‘N Tour for the safety of our community, local businesses and event goers. Saratoga Chowder Fest ‘N Tour will take place Saturday, March 19, through Saturday, March 26. Event goers will have the opportunity to dine-in or purchase pints and...

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Hoffman Car Wash Sells Its Jiffy Lube Stores, Will Continue To Expand Rest Of Operations

Posted onJanuary 17, 2022
The Hoffman chain of car washes has sold its Jiffy Lube stores to Premium Velocity Auto LLC based in Pennsylvania. Tom Hoffman plans more expansion of his car wash operation.

by Jill Nagy

Premium Velocity Auto LLC has purchased nine Jiffy Lube franchises that were part of the  the Hoffman Car Wash chain. The sale closed Dec. 15. 

This is the first venture into New York state for the purchaser, which operates 55 Jiffy Lube franchises in 10 other states.

The car wash chain decided to get out of the Jiffy Lube  business and concentrate on expanding the car wash side of thingss, according to owner Tom Hoffman Jr. His last new Jiffy Lube franchise opened in 2004. Meanwhile, other companies were aggressively expanding their Jiffy Lube portfolios.

Hoffman recently opened a 23rd car wash in Yorkville, a suburb of Utica. Plans for 2022 include outlets in Rome, Gloversville, Cohoes, and Queensbury. When Hoffman opens a new car wash in Oneonta, they will be joined by a Premium Velocity Jiffy Lube franchise.

The newly purchased Jiffy Lube franchises “fit our network,” said Don Hill, president of Premium Velocity. The new owner purchased all of the assets of the Hoffman Car Wash Jiffy Lube outlets and plans to continue operating all of them. Seven of the nine franchises are in buildings  owned by Hoffman. The new owners will lease the buildings from Hoffman. 

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Ballston Spa Native Creates Painting Business He Hopes Grows Through The Region

Posted onJanuary 17, 2022

By Jennifer Farnsworth

Mike Meier of Ballston Spa is the owner of a new painting business, 518 Mr. Paint.

Meier said after receiving his degree in architecture from the University at Buffalo, he decided to find work in a trade. He said he really took to painting.

“I’ve been painting for almost 10 years. I’ve worked for various companies. A couple years here and there for each company. I would tell my employers that with my education, I can come up with estimates and project management, but none of them ever took me up on my offer,” said Meier.

Meier said when COVID hit his hours were cut and at that point he began to rethink his situation.

“Even though I knew I was very skilled and valuable, I was told I should feel lucky to even have a job. So while other more established companies struggled to get painters and other painters went on unemployment, I started my company with only $1,500 in my bank account,” he said.

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Vermont-Based Product Supplier To Convert Warehouse Into Storage And Assembly Plant

Posted onJanuary 17, 2022

By Christine Graf

Vermont-based electrical product supplier Green Mountain Electric Supply is moving forward with plans to convert a 64,000-square-foot warehouse at 823 Main St. in Clifton Park into a wire cutting, storage, and assembly plant. 

The Saratoga Economic Development Corp. assisted the company in applying for tax incentives which have been awarded in the amount of $338,329. In addition to a $33,000 mortgage tax exemption, the company was awarded a $57,400 sales tax exemption and a payment-in-lieu-of-taxes agreement that will amount to $247,929 over 10 years, officials said.

Green Mountain Electric Supply, a third-generation family-owned company, has been in business since 1953. Since that time, it has grown to include 20 locations throughout Vermont, New Hampshire, and New York, and 280 employees. 

“We distribute electrical products meaning that we buy material from manufacturers or rep agencies and sell it mostly to commercial contractors,” said Luc Choquette, vice president of operations.

Among its products are large reels of copper wire that are cut and repackaged on smaller reels.

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Wallie’s Of Greenwich Is Open For Business Again Following A Complete Restoration

Posted onJanuary 17, 2022January 17, 2022
Wallie’s of Greenwich owner Ted Bearor said the restaurant and pub has gone through a complete restoration on both the interior and exterior of the building at 52-54 Main St.
©2022 Saratoga Photographer.com

By Jennifer Farnsworth

After decades of sitting vacant, Wallie’s of Greenwich is once again open for business.

Owner Ted Bearor said the restaurant and pub has gone through a complete restoration on both the interior and exterior of the building at 52-54 Main St., while still maintaining the charm for which it was once known.

Bearor said renovating and re-establishing the business was something he felt confident in taking on because of his industry related background. Taking his experience in the restaurant business, Bearor said, and opening up his own place with a silent partner, felt risky at times, but it was well worth the wait.

“I have been director of food and beverage at the Whiteface Lodge in Lake Placid as well as the director of operations at the Lodge at Six Flags.  Following my hotel work, my business partner and I have been involved in other area restaurants, notably the iconic George’s in Lake George from 2013 to 2020, and finally opening Wallie’s.  We have been challenged, along with many other businesses, during this time due to the pandemic, however we have been fortunate to have great staff and community support,” said Bearor.

First-floor renovations included taking out apartments to make room for what is now the pub area. He said during the demolition phase, the building was discovered to have had five to six additions over the past century or so. Other renovations included replacing the roof, kitchen, bathrooms, ventilation equipment, along with adding in a separate walk-in cooler that can hold up to 12 kegs

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