SARATOGA SPRINGS — Stewart’s Shops has purchased the Blueox Neighborhood Market convenience store chain.

“This acquisition will increase Stewart’s Shops’ footprint further into the Central New York market.  We look forward to the opportunity to further serve the Blueox market that they have served so well for the past three-plus-decades and we look forward to welcoming Blueox employees to the Stewart’s family,” Stewart’s Shops president Gary Dake said, in a statement. 

At its peak Blueox Corporation built a chain of eleven local convenience stores that serviced and provided support to communities for more than 35 years. While built acquiring one store at a time, the most recognizable brand name was the Nice-N-Easy franchise locations. 

“Our stores have been a valuable part of our organization and complemented our retail fuel distribution and HVAC operations,” said Blueox Corporation President Jared Bartle. “As the industry shifts away from the mid-sized chains, we wanted to find a company with dedication to its employees and the communities they serve.  The decision to sell did not come easily.“

It is anticipated most of the company’s employees will continue employment with Stewart’s Shops, Bartle added. “This was very important to Blueox. As we realign our long-term goals and continue to reinvest in the delivery and service divisions of our company, I’m excited at the opportunities to come.“

The sale of the Neighborhood Market convenience store chain is expected to close in September 2021. Blueox will continue to operate their growing energy business, delivering fuel oil, kerosene and propane and will continue to service and replace energy equipment including furnaces, boilers, and hot water heaters. 

Renamed in 1986, Blueox Corporation once grew to 11 stores made up of both Nice N Easy franchise sites and Big Blue Convenience Stores, serving rural markets in the heart of upstate New York. Their residential and commercial delivery and service operations will continue to grow and operate in Oxford, NY under the name Blueox Energy Products & Services.

Stewart’s Shops was founded in 1945. Today there are over 345 Stewart’s Shops located across 31 counties across upstate New York and southern Vermont. 

SARATOGA SPRINGS — Locally based equine artist Sharon Crute has signed a licensing agreement with Mchezo to produce a colorful and thrilling thoroughbred racing themed jigsaw puzzle based on her artwork.

The 1,000-piece puzzle, which will be titled “Into the First Turn,” is scheduled for release in September. It features an action-packed scene where a tightly packed group of horses are angling for position as they race into the first turn at historic Saratoga Race Course. 

“I am so excited to be able to share my artwork and passion for thoroughbred racing,” said Crute,  who lives in Saratoga Springs and exhibits her artwork during the summer meet. “What fun to see my horse racing image made into a puzzle. With so much color and motion, it’s certain to be lively and challenging.”

The puzzle, part of Mchezo’s Depot Street Collection, will be roughly 28” x 20” when completed, and will include a reference sheet with information about the artist and the image.

“Ms. Crute’s artwork truly captures the power and beauty of the thoroughbred horse, and we feel honored that she has agreed to partner with us on this project,” said Ed Bryan, President of Mchezo, in a statement.

For more information about Mchezo, go to: www.mchezo.com.

Lake Luzerne — Adirondack Extreme Adventure Course announced its acquisition of tubing company Tubby Tubes. The announcement falls upon the eve of Tubby Tube’s 20th season. 

Eric & Heather Hamell opened Tubby Tubes in 2002 and later purchased The Lake George Guide. Tubby Tubes new owner, Jamie Johnson, says he’s excited to add water to his family of adventure-centric activities in the Lake George area which include eight adventure courses and the new “Low Rider” zipline course which opened this past April. 

Customers will still see familiar faces as the two families will work together in this season of transition. Longtime Adirondack Extreme Manager Jaime DeLong will oversee both attractions and joins the Johnson Family as a Tubby Tubes River Co. minority owner. 

The Hamell family plans to focus their energy on expanding advertising and marketing services offered by The Lake George Guide, and fostering the success of other Lake George Regional businesses.

Tubby Tubes will become Tubby Tubes River Co. with the unveiling of a new logo and website. The Johnson family plans to reinvest in the Lake Luzerne-based property by adding additional new and exciting adventure-based activities, a new welcome center, remodeled cafe, and expanded parking.

For more information contact Jamie Johnson at info@adirondackextreme.com.

SARATOGA SPRINGS — Putnam Market, located at 431 Broadway in downtown Saratoga Springs was recently named one of the 50 greatest food stores in the world by the Financial Times, an internationally renowned daily newspaper focused on business and economic current affairs.

The ranking included small, independent groceries and delis from New York to Berlin to Singapore.  Of the 50 greatest food stores 16 were in the U.S., including iconic New York stores Russ & Daughters, the 2nd Avenue Deli on the Lower East Side, and Barney Greengrass.  Also included was La Fromagerie, Marylebone, London whose Cheese Room served as a template for the one in Putnam Market.

The Financial Times article is titled “The 50 greatest food stores in the world: Where to find the best produce on the planet, from classic New York delis and Indian spice emporiums to German sausage shops,” and was published May 18. 

Putnam Market opened for business June 30, 1995 and the sandwiches debuted that autumn.  Chefs started production of salads and bakery items in 1997 and wine sales began in 1998.  In June 2012, The Cheese Room debuted at Putnam Market, a glass-walled space kept at optimal cheese-ripening temperature, surrounding customers with some of the best cheeses in the world. 

Saratoga Springs — The latest in pandemic pivots comes to us as the Mind Body Soul Market popping up monthly in the parking garage behind the Saratoga Springs City Center. The first event was in May and drew over 300 shoppers. “We had a great turn out and our vendors did very well!” said Jennifer Rhodes who hosts the event.

The creation of the Mind Body Soul Market came as a pandemic induced pivot from Jennifer’s previously successful event the Mind Body Soul Expo. The expos she has done in the past have reportedly drawn thousands of people which of course became impossible under the imposed gathering limits and social distancing protocols. “The expos were so successful we knew people needed a similar outlet and we wanted to find ways to support our vendors,” Rhodes told us.

“When the guidelines finally allowed us to hold small events outdoors we immediately started looking for a venue and contacting our vendors.”

This Market Maven is not done yet, she is having her next Mind Body Soul Market June 5 and 6 from 10 a.m. – 4 p.m. on both days. She also plans to have one in July and another in August.

With room for 30 vendors at these events the current list holds a mix of tarot card readers, exquisite collections of crystals, mineral specimens, psychic mediums, jewelry, handcrafted items, nutrition coaches, and more. “It’s like a farmers market with alternative, holistic, health and wellness vendors,” said Jennifer. “We have Moxxi Coffee Company, James Joseph from Reiki Rising, Wendy Herrold from Strength and Purity Jewelry, Shawna Merritt of Nerdy By Nature, food from Esperanto, and we even have music by Jason Irwin while you shop!”

Looking for more information? You can check out the event page for the next pop up market by clicking here or visit the Mind Body Soul Expo’s main page if you are looking for information on future events.

Saratoga Springs —  Members of Saratoga National Bank presented AIM Services, Inc. with a check for $10,000 on Thursday, May 20. The donation will sponsor AIM’s annual Croquet event, as well launch AIM’s new LIFE Fund (Living Independently For Everyone), which will provide financial support and encourage more financial independence for individuals of diverse abilities transitioning to more independent settings through AIM. 

Saratoga Springs —  Charlie Duclos Seguin has joined Julie & Co. Realty as the newest member of the brokerage.

Seguin is originally from Quebec, Canada where she studied and worked as a paralegal. She relocated to Saratoga Springs in 2009, attended college at Hudson Valley Community College and transferred to SUNY Albany, where she graduated in 2013 with a Business Administration degree with a focus in Finance. 

Seguin worked in the investment field for several years, first in Manhattan with RBC Wealth Management/Capital Market where she learned to analyze the market, investment returns and to provide excellent services to investors and families all in a fast-paced environment. She then worked for the state of New York in the Investment Compliance field, deepening her investment strategies, which ultimately helped her acquire knowledge of competing goals and interests from top executives as well as with the board of directors. 

For more information, call 518-350-SOLD (7653), email info@juliecorealty.com or visit www.JulieCoRealty.com

The city of Saratoga Springs proposes the construction of a third fire house to be located on Henning Road that will specifically serve the city’s eastern plateau.  The project site is a 2.36-acre lease parcel opposite BOCES, in which the city has entered into a land use agreement with the state of New York for land located on NYRA property. 

The city’s Land Use Boards are reviewing a proposal to erect a new four-story mixed-use structure on Excelsior Avenue with a sub-level parking area as well as 10 residential townhouses that will face Whistler’s Court. 

The Excelsior Park project is anticipated to be occupied by tenants who meet the criteria for affordable/ workforce housing, specifically households earning no more than 60% AMI (Area Median Income). 

There are many vehicles for saving money, but few are as flexible as a Roth IRA. One can have retirement savings, emergency money, and college savings in one convenient place. Let’s explore these options in more detail.

Retirement Savings

What is a Roth IRA? In its most basic form, it is a retirement savings account where contributions are made with after-tax money and all qualified withdrawals after age 59 1/2 are tax-free. Although contributions to a Roth IRA are not tax-deductible, the IRS sets rules on who can contribute and how much. In 2021, contributions are limited to $6,000 per year ($7,000 for those age 50 and older) for individuals whose income (or income combined with their spouse’s income) falls below certain thresholds. Having Roth money available for retirement provides flexibility for those looking to manage their tax burden during their non-working years.

Emergency Money

A lesser-known fact about Roth IRAs is that you can always withdraw your contributions at any time for any reason – no questions asked and, best of all, no taxes or penalties. For example, assume over the past five years you have made contributions totaling $20,000 into a Roth IRA and the account has grown to $30,000. If your house needs some emergency repairs, you can withdraw up to $20,000 and the remaining $10,000 will continue to grow tax-free until retirement. Make sure that you are reporting and tracking your contributions each year when you file your taxes. 

Qualified Educational Expenses

Under normal circumstances, a non-qualified withdrawal of the growth portion of the Roth IRA would result in taxes and a 10% penalty. There are a few exceptions to this rule – one being the use of the money to pay for college (or other qualified education expenses). You would still owe ordinary income taxes on any earnings drawn upon, but you would avoid the penalty. Let’s go back to our example of $20,000 of contributions and $10,000 of growth. If the tuition bill is $25,000, you would be able to withdraw $20,000 tax-free and pay ordinary income tax on the remaining $5,000 withdrawn from the Roth IRA. There is also the opportunity to set up a Roth IRA in the child’s name before they reach college, but they would have to have earned income equal to or greater than the amount of contributions.

This article merely scratches the surface on this topic. There are more advanced strategies available as it relates to those who would typically not qualify due to income limits. If you are interested in exploring the possibilities, reach out to us and see how to leverage this valuable tool.

For more information, visit contwealth.com

David Rath, CFA is the Director of Portfolio Strategies at Continuum Wealth Advisors in Saratoga Springs.