Saratoga Business Journal

Tripi Named Region 5 Director Of ALDONYS

June 23, 2025

Chris Tripi, owner and principal detective of Tripi Detective Agency, LLC, has been appointed as the Region 5 Director of the Associated Licensed Detectives of New York State (ALDONYS). This prestigious appointment recognizes Tripi’s extensive expertise and commitment to the field of private investigation.

Tripi is licensed and bonded in New York State and holds numerous professional certifications, including FAA certification as a drone pilot (sUAS). His educational background includes a bachelor’s degree in Computer Science from SUNY Westbury and a Master’s degree in Information Systems from Pace University.

“Chris has been a dedicated member of ALDONYS and brings decades of experience helping individuals and organizations navigate complex investigative challenges. We are thrilled to have him on the Board of Directors,” said Matthew Spaier, ALDONYS Chairman of the Board.

ALDONYS is the largest private investigator organization in New York and a leading voice for the profession. As Region 5 Director, Tripi will play a key role in supporting licensed detectives across the Capital Region.

Business For Good Foundation Broadens Mission To Tackle Wealth Gap Across the U.S.

June 23, 2025

Ed Mitzen, Co-Founder of Business for Good Foundation [right] and Maire Masterson, Executive Director of Business for Good Foundation [left].

Business for Good, a non-profit philanthropy committed to bridging the wealth gap in America, has announced plans to expand its mission and community work beyond the Albany/New York Capital region. New areas of focus will include economic mobility, business growth and entrepreneurship, workforce & community development and housing accessibility & affordability. Additionally, Co-Founder Ed Mitzen will turn his attention to identifying and partnering with likeminded leaders on a national level while Maire Masterson has been named as Executive Director, with a focus on local giving. The organization has also been rebranded the Business for Good Foundation.

The gap between the rich, richer, middle class and the poor is widening at an alarming rate, with socioeconomic disparities not only persisting, but growing. According to the Peter G. Petersen Foundation, the top 20% of wealthiest households in America have seen their income rise 165% from 1981 to 2021, while the middle and lowest quintiles have seen income growth of only 33% and 38%, respectively, over the same period.

A renowned healthcare marketing entrepreneur, Ed has built three consecutive businesses that generated over $1 billion in revenue. He co-founded Business for Good with his wife Lisa Mitzen by combining his entrepreneurial acumen with a personal passion for giving back – empowering entrepreneurs and working with local government and policymakers to drive meaningful change at the community level. Ed, best-selling author of Wealthy and White, has invested his own money into the Albany/New York Capital region over the recent years through projects, such as the Albany Black Chamber of Commerce.

“I am committed to using my privilege for good and with today’s announcement, we will be expanding our focus on a national level,” said Ed Mitzen, Co-Founder of Business for Good Foundation. “I realized that to have the impact that we want, we will need to partner with other leaders to make a difference – one person, one neighborhood and one community at a time.”

This Year’s Summer Trades Camp Builds Skills, Confidence, And Career Pathways For Girls

June 23, 2025

Girls in grades 5–7 tour an active construction site as part of the expanded summer trades camp hosted by the Northeast Construction Trades Workforce Coalition and Whitbeck Construction.
Courtesy Northeast Construction Trades Workforce Coalition

Whoever said building and construction trades is a man’s world must be light years behind the times.

A summer camp for fifth- to seventh-grade girls has been expanded to two weeks this year, giving hands-on opportunity and exposure to the industry’s many different careers.

“On day one, last year, we put a power screwdriver in their hand and they were scared to death,” program coordinator Doug Ford said. “By day five they were working with pneumatic nailers and building vertical gardens that we donated to nursing homes. They didn’t know each other to begin with so teamwork was part of it. The transformation was incredible. It was a huge hit.”

Ford, a Curtis Lumber Company vice president, is also co-founder with Pam Stott of the Northeast Construction Trades Workforce Coalition, a nonprofit organization launched eight years ago to address the construction industry’s skilled labor shortage by promoting such careers to students and young adults.

Females represent a large untapped pool of potential employees.

“We want them to understand there’s so many jobs within trades and not all of them are physical,” Ford said. “You’ve got project management, logistical, estimating. All these different jobs are part of trades that never get talked about. The only ones that get talked about are the guy on the roof, in a ditch or on a backhoe. We need to paint an accurate picture of all the things that are available to males and females.”

There’s plenty of financial incentive as careers in the trades can pay from $80,000 to well over $100,000 for jobs such as project manager.

Saratoga Builders Association Awards Scholarships To Two Future Construction Industry Leaders

June 23, 2025

SBA Executive Director Barry Potoker, 2025 SBA Scholarship recipient Jameson Brownell, 2025 “Bob Best” Memorial Scholarship recipient Sean Ward and SBA President Matt Whitbeck of Whitbeck Construction.
Courtesy Saratoga Builders Association, Inc.

The Saratoga Builders Association, Inc. is proud to announce the awarding of two student $1000 cash scholarships. One is the annual SBA Scholarship and the second is the annual “Bob Best” Memorial Scholarship.

Congratulations to Sean Ward of Corinth. Sean will be graduating from Corinth High School this June and plans on attending Hudson Valley Community College pursuing a degree in Construction Technology.

Congratulations to Jameson Brownell of Schuylerville. Jameson will be graduating from Schuylerville High School this June and plans on attending Utica College pursuing a degree in Construction Management.

Business Value

June 23, 2025

By Kathlene Thiel, MBA, CVA, M&A Master Intermediary

a business owner, you may have an idea of what you think your business will sell for, but we find that an owner’s expectation of value is typically much higher than an outside buyer would pay or a bank would finance.

A potential buyer’s (and banker’s) perception of value is based on the expectation of future cash flows. That is calculated from the historical financial performance of your company; not your idea of what a buyer could do if they purchase and grow your business.

To build value, avoid these deal killers:

Focusing on Minimizing Taxes – In an effort to reduce income taxes, you may be purposely driving down profits by running it as a “lifestyle” business with lots of discretionary (personal) expenses run through your company. While it may reduce taxes it also drives down the value of the business.

New York Home Sales Slide In April Amid Higher Inventory And Steady Mortgage Rates

June 23, 2025

Despite a slight uptick in housing inventory and continued mortgage rates below 7 percent, existing home sales in New York State declined in April, according to the housing report released today by the New York State Association of REALTORS® (NYSAR).

Closed sales of homes fell 6.2 percent in April, from 7,428 homes in 2024 to just 6,968 units last month. Pending sales inched up to 9,565 sales in April 2025 from 9,471 during April 2024, representing a slight 1.0 percent increase. New listings of homes in the Empire State rose 5.6 percent, from 13,246 listings in April 2024 to 13,989 listings in 2025.

Statewide housing inventory was up 3.1 percent in year-over-year comparisons, from 25,379 homes on the market last April to 26,165 units available in April 2025.

Mortgage rates remained under seven percent for the 14th consecutive month during April according to Freddie Mac. The average rate on a 30-year fixed rate mortgage during April closed at 6.73 percent. By comparison in April 2024, the rate sat at 6.99 percent.

Business Report: Should you trust a ‘finfluencer’?

June 23, 2025

Eric Snell, financial advisor with Edward Jones Financial in Saratoga Springs.
Courtesy Edward Jones

Provided By Eric Snell

In the age of social media, it’s easy to find advice on just about anything — including how to manage your money. Content creators known as “finfluencers” — short for financial influencers — use platforms like TikTok, YouTube and Instagram to share their takes on investing, budgeting and building wealth. Many of them are charismatic and relatable, and they often speak from personal experience. But while their content may be engaging, taking financial advice from a finfluencer without digging deeper can come with significant risks.

While some finfluencers may have formal training or credentials, many do not. Instead, their influence stems from their popularity rather than professional experience. But popular advice may not necessarily be good advice. A 2025 study by the Swiss Finance Institute even found that unskilled finfluencers typically have larger followings than skilled ones.

Why be cautious?

For young or new investors, social media can make finance feel accessible. In fact, a 2022 FINRA study says that more than 60% of Americans younger than 35 get investing information from these platforms. But social media isn’t regulated the same way traditional financial advising is, so anyone, qualified or not, can offer financial tips.

Unlike traditional financial advisors, finfluencers don’t know your unique goals, financial situation or risk tolerance. And likely, they’re not licensed (you can check here: Check Out Your Investment Professional | Investor.gov). Even well-meaning guidance might lead you down a risky path if it’s not tailored to your needs. And unfortunately, some finfluencers have exploited the trust they build with followers to promote questionable investments or outright frauds.

Business Report: The End of American Exceptionalism?

June 23, 2025

Kenneth J. Entenmann,chief investment officer & chief economist with NBT Bank.
Courtesy NBT Bank

by Kenneth J. Entenmann, CFA®

5/20/2025, 3:07:02 PM

For the bulk of this century, it has been said that America was exceptional. It had the world’s strongest military. It had the world’s largest and richest economy. It had the world’s reserve currency. It had the world’s largest, safest, and most liquid financial markets. Most of the world’s largest and most innovative companies were American. The United States was a juggernaut. American Exceptionalism!

Yet, somehow, in just a few months, there are rumblings of the end of American Exceptionalism. Prominent financiers speak of damage to the “American brand.” The “Magnificent Seven” tech sector received a wake-up call when the Chinese Deepseek AI model was announced, which showed that the path to AI dominance would be competitive. And finally, Moody’s became the last of the major bond rating agencies to downgrade the last U.S. Treasury bond rating from AAA to AA.

Is this the beginning of the end of American exceptionalism? To paraphrase Mark Twain, the report of the demise of American exceptionalism is an exaggeration.

Apparently, several prominent financiers believe that the American brand has been damaged. Perhaps. They say our “Friends and Allies” can no longer trust the U.S. regarding military and trade. Certainly, the method of the Trump Administration’s demands for increased NATO military spending can be questioned. But the fact remains that many of our NATO “friends” are still significantly below the NATO minimum spending requirements, and even those who have committed to increased spending will not get there for several years. Given our fiscal challenges, the U.S. simply cannot afford to fund all of NATO. If calling for the end of our allies’ defense-free-riding ways is damaging to the U.S. brand, then so be it. Similarly, the rollout of the Trump trade program has been chaotic and has created great uncertainty. Our friends and allies are upset. That is understandable. But it is also very clear that these friends and allies are not free traders. They deploy a myriad of tariffs and non-tariff barriers to trade, such as a digital service tax on the U.S. tech sector, which are blatantly unfair. If calling this out is damaging our “brand,” then so be it. Regardless of the perception of the brand, the U.S. economy will remain the largest and richest consumer market in the world. Every country in the world still wants and needs to do business here. That is why there are so many ongoing trade negotiations. The hope is they will end with a freer and fairer trade environment with our Western allies.

SAIL’s $340,000 Renovation Positions Agency To Better Serve More Than 7,000 Annual Clients

June 23, 2025

SAIL serves clients during renovations from its temporary location at Aviation Mall.
Courtesy SAIL

By Paul Post

A $340,000 renovation is positioning Southern Adirondack Independent Living (SAIL) to better serve the more than 7,000 clients it serves each year.

Project highlights include a new roof; a re-milled, regraded and resurfaced parking lot and a totally revamped grand entryway at the non-profit agency’s building, at 71 Glenwood Avenue in Queensbury.

“We’re really working to make SAIL a regular household name that promotes inclusivity, belonging and welcomeness,” Executive Director Tyler Whitney said. “This brand new, nice looking, welcoming environment really lends itself to our spirit right now.”

During construction, scheduled for completion by late June, SAIL continues to serve people at Aviation Mall, in a temporary space adjacent to Auntie Anne’s.

Founded almost 40 years ago, SAIL’s mission is to help people live more independently, and demand has grown almost exponentially in recent years because Warren County has one of the state’s oldest populations age-wise.

“As people are aging, they have more temporary disabilities and are using our services a lot more,” Whitney said.

Equipment loans for things such as wheelchairs, crutches and walkers is one of SAIL’s most well-known and popular services, totally free to eligible clients. But it’s one of just 15 services the agency provides in a territory stretching from Columbia and Greene counties north to the Canadian border.

In addition to Queensbury, SAIL has satellite offices in Plattsburgh and at Wilton Mall. Other services run the gamut from health insurance to advocacy, education about disability and health-related topics, and helping families understand options to avoid long-term nursing home stays.

Those Facing Health Challenges Receive Compassionate Care From Home Instead

June 23, 2025

A Home Instead caregiver supports a senior during an in-home visit.
Courtesy Home Instead

By Rod Bacon

It’s a fact of life that as people age they often lose the ability to perform the daily tasks they once could. It’s also a fact that one’s home is what provides the greatest amount of comfort and peace of mind when dealing with life’s challenges.

Home Instead, founded in 1994 in Omaha, Nebraska, by Paul and Lori Hogan, is a non-medical senior care company with over 1,200 franchised locations in the United States and abroad.

In 2000, Nelson Carpenter, who had retired from a 33-year career in both the public and private sectors, became a Home Instead franchisee when he opened an office in Gansevoort serving Saratoga, Warren and Washington counties.

“He researched home care companies and decided Home Instead was the best one with which to partner,” said his daughter, Maureen Hopkins, R.N., general manager and co-owner. “I came on board later to help out in the office for a while, discovered I loved it and never left.”

Carpenter was director of employee health benefits for the New York City Mayor’s Office of Labor Relations and later deputy director of the New York State Governor’s Office of Employee Relations. In the private sector he served as vice president of Value Health, Inc. and national vice president of Prudential Healthcare.

After moving to the area he served on the board of directors of the Senior Center of Saratoga Springs, the Visiting Nurse Services Foundation of Schenectady and Saratoga Springs, and the Alzheimer’s Association of Northeastern NY.