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WEST SPRINGFIELD — Visiting Angels West Springfield announced it has received the 2024 Best of Home Care – Provider of Choice Award from Home Care Pulse (HCP).

The Provider of Choice Award is granted only to top-ranking home-care providers, based on client satisfaction scores gathered by HCP, an independent satisfaction research firm for post-acute care. Visiting Angels West Springfield is recognized among a select few home-care providers across the country who have proven their ability to provide outstanding care.

“We’re excited to congratulate Visiting Angels West Springfield for their well-deserved achievement on earning the Best of Home Care – Provider of Choice Award,” said Todd Austin, president of HCP. “It’s wonderful to see the hard work that Visiting Angels West Springfield is putting in to provide high-quality care and employment; their effort isn’t going unnoticed. This award allows them to provide proof of quality to potential new clients and caregivers.”

Best of Home Care – Provider of Choice award-winning providers have contracted with HCP to gather feedback from their clients by conducting live phone interviews with their clients each month. As HCP is a third-party company, it is able to collect honest and unbiased feedback.

“Visiting Angels in West Springfield is honored to provide award-winning senior care, thanks to our dedicated professional staff,” said Michele Anstett, owner of Visiting Angels West Springfield.

Daily News

Jason Boudreau and Mark Fulton

SPRINGFIELD — Fontaine Bros. Inc. announced the addition of Jason Boudreau as project executive and Mark Fulton as senior superintendent. They bring more than 40 years of combined experience working together on complex building projects throughout Western and Central Mass., Connecticut, and beyond, making them a valuable addition to the Fontaine team.

“Great people are the key to our success,” Fontaine Bros. CEO David Fontaine Jr. said. “Jason and Mark fit perfectly within our culture focused on attracting, retaining, and supporting talented, hardworking people who put clients first. We are thrilled to have Jason and Mark on board.”

Boudreau and Fulton have been working together for more than 20 years. They have successfully delivered work for notable clients such as Amherst College, Baystate Medical Center, Berkshire Medical Center, UMass Amherst, Williams College, and many others, and earned certifications from the American Society for Health Care Engineering and the International Code Council for Tall Mass Timber Buildings.

“The opportunity to come to Fontaine was something that Mark and I just couldn’t pass up,” Boudreau said. “I interned for Fontaine more than 20 years ago, so this is a homecoming of sorts. I’m excited to help the company continue to grow and innovate.”

Business Talk Podcast

We are excited to announce that BusinessWest has launched a new podcast series, BusinessTalk. Each episode will feature in-depth interviews and discussions with local industry leaders, providing thoughtful perspectives on the Western Massachuetts economy and the many business ventures that keep it running during these challenging times.

Go HERE to view all episodes

Episode 210: April 22, 2024

George O’Brien Interviews Angela Park, president of Springfield Performing Arts Ventures Inc.

It’s called 52 Sumner. That’s a street address in Springfield, but it’s also an intriguing new addition to the arts landscape in Western Mass. — an event space created in the former Faith United Church, one that opened its doors in January and is off to a very fast start. On the next episode of BusinessTalk, George O’Brien, contributing writer at BusinessWest, talks with Angela Park, president of Springfield Performing Arts Ventures Inc., the nonprofit that manages the venue, about how this stunning transformation of the church came about and how it will not only host different kinds of performances, but also immerse people — and especially young people — in the arts. It’s must listening, so tune in to BusinessTalk, a podcast presented by BusinessWest.

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Daily News

Eunice Bragg

SPRINGFIELD — American International College (AIC) announced the appointment of Eunice Bragg as vice president for Institutional Advancement. As an accomplished fundraiser and relationship leader, Bragg brings valuable expertise in building relationships, inspiring team culture, and employing metrics to meet fundraising goals for the institution.

In her new position, Bragg will oversee fundraising and stewardship relationship initiatives and will be responsible for strengthening engagement with AIC alumni and community partners. She will play a vital role in the campaign to restore Courniotes Hall, the health-sciences building damaged by fire last summer after a lightning strike.

“We are excited to welcome Eunice to our college community,” said Nicolle Cestero, AIC’s interim president. “With her wealth of experience and dedication to higher education, I am confident she will be instrumental in advancing our institution’s mission and enhancing our relationships with alumni, donors, and supporters.”

After earning a bachelor’s degree at Taylor University and completing her master’s degree in strategic fundraising and philanthropy at Bay Path University, Bragg served as director of Development at the Discovery Center (now RE-Center) in Hartford, Conn. She then assumed the role of director of Annual Giving at Hampden Hall Country Day School in New Haven, Conn. Returning to her alma mater, she became director of Major and Planned Gifts at Bay Path. She joins AIC from Worcester Polytechnic Institute, where she most recently served as director of Development and Leadership Gifts.

Daily News

Gilbert Nieves

SPRINGFIELD — Community Bank announced that Gilbert Nieves has been promoted to district manager. In his new role, Nieves will oversee strategy and operations for branches in Vermont and Massachusetts, ensuring administration of the bank’s financial goals and objectives, including business development. He will also be responsible for staff training, coaching, and professional development for continued excellence in customer service and operations.

With more than two decades of experience in the financial industry, Nieves first joined Community Bank in 2019 as branch manager of the Springfield location. In that role, he oversaw daily office operations, including sales and customer-service activities, to ensure operational efficiency, integrity, and adherence to policies and procedures. Prior to that, he served the Springfield community in other banking and financial roles, including vice president and branch manager at Webster Bank and assistant city treasurer for the city of Springfield.

“Gilbert has been a true asset to our team since day one, and I’m looking forward to all that he’ll accomplish as he steps into this new role,” New England District Manager Matt Villemaire said. “His financial experience and commitment to the communities we serve, both in and outside of day-to-day operations, have positioned our branches across New England for continued success.”

Outside of the office, Nieves is an active member of the community, serving his congregation as a Bible instructor and volunteering at Springfield Public Schools. In addition, he facilitates financial-literacy workshops at the Gándara Center, as well as first-time homebuying seminars at Way Finders. He is also a member of the Springfield Chamber of Commerce and Business Network International’s Springfield chapter. He holds a bachelor’s degree in accounting from Universidad Metropolitana in San Juan, Puerto Rico.

Daily News

BOSTON — The state’s March total unemployment rate was 2.9%, unchanged from the revised February estimate of 2.9, the Executive Office of Labor and Workforce Development announced. The Massachusetts unemployment rate was 0.9% lower than the national rate of 3.8% reported by the Bureau of Labor Statistics (BLS). Over the year, the state’s seasonally adjusted unemployment rate was down by 0.6%.

The labor force increased by an estimated 8,300 from the revised estimate of 3,748,700 in February, with 11,300 residents more employed and 3,000 fewer residents unemployed over the month. The state’s labor-force participation rate — the total number of residents age 16 or older who worked or were unemployed and actively sought work in the last four weeks — increased 0.1% over the month to 64.9%. Compared to March 2023, the labor-force participation rate was down 0.3%.

BLS preliminary job estimates indicate Massachusetts gained 2,900 jobs in March, following February’s revised gain of 5,000 jobs. The largest over-the-month private-sector job gains were in education and health services, leisure and hospitality, and other services. Employment now stands at 3,740,500. Massachusetts gained 677,000 jobs since the employment low in April 2020.

From March 2023 to March 2024, BLS estimates Massachusetts gained 22,500 jobs. The largest over-the-year gains occurred in education and health services, leisure and hospitality, and other services.

Daily News

SOUTH HADLEY — Summit House Wealth Partners, a private wealth-advisory practice with Ameriprise Financial in South Hadley, was named to the list of “Best-in-State Wealth Management Teams” published by Forbes. The list recognizes financial advisors and their teams who have demonstrated high levels of ethical standards, professionalism, and success in the business.

The rankings are based on data provided by thousands of the nation’s most productive advisors and their teams. Summit House Wealth Partners was chosen based on assets under management, industry experience, compliance record, and best practices in its practice and approach to working with clients.

Summit House Wealth Partners is led by Stephen Duval, CFP. The team also includes financial advisors Ed Boscher, Mike Otto, and Justin Osowiecki, and support staff Debra Whalen, James Lucey, Matthew Mitchell, Patricia Belanger, Jennifer Gray, Morgan Szczygiel, and Nicole Old. They have collectively served the South Hadley community since 1992.

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NEW MARLBOROUGH — Construct Inc., a nonprofit provider of affordable housing and supportive services to residents in 15 towns across the Southern Berkshires, announced its first Designer Showhouse fundraising exhibition.

Slated for the entire month of June 2024, the Designer Showhouse will highlight the elegant, creative work of more than a dozen local and regional designers, as well as landscape architects and visual artists. Each exhibitor has been assigned a space at Cassilis Farm, an iconic, 27-acre, Gilded Age estate that Construct, along with the New Marlborough Housing Development Committee, purchased at auction with the intention of renovating and converting it into 11 much-needed affordable-housing apartments.

“We have the opportunity to take advantage of Construct having acquired this magnificent estate,” said Hinda Bodinger, Construct board secretary, who also co-chairs the Designer Showhouse committee. “Utilizing such a beautiful space allows us to highlight the sophisticated talent of the designers and to share our mission in a unique way with the greater community.”

The Designer Showhouse pays homage to the theme “Nature in the Berkshires” and displays the transformative, custom work of award-winning designers, whose areas of focus range from real-estate staging and interiors to styling and iconic textile design. Room themes range from a swan nursery inspired by a local swan rescue area to a picnic-under-the-stars nod to Tanglewood to an equestrian-heavy library drawing inspiration from the estate’s former existence as a hackney horse-breeding farm. The Showhouse will be a timed, ticketed walk-through and will be open to visitors through five weekends in June. Additional events surrounding the Designer Showhouse include a free New Marlborough community day on Friday, May 31, as well as an opening-night tour and reception at Cassilis Farm on Wednesday, May 29.

“As we’ve reached out to interior designers, landscape designers, and others with our appeal to help us with the Showhouse, the overwhelming response has been ‘yes’ because they, like many businesses, have been directly affected by the shortage of affordable housing,” said Laura Jordahl, co-chair and Construct board member. “All of us know that working to make Cassilis into a place that 11 families will call home will help to strengthen our community ties.”

Information about the Designer Showhouse will be updated at constructberkshires.org/construct-designer-showhouse, as well as via Construct’s social-media handles. Timed tickets cost $40 per person and can be purchased online only, through the Construct website.

Daily News

HOLYOKE — Success strategist Kurt Faustin will lead a free emotional-intelligence workshop at Holyoke Community College (HCC) on Tuesday, April 23.

The workshop, hosted by HCC’s ALANA Men in Motion program, is free and open to the public. It will run from 12:30 to 2 p.m. in the PeoplesBank conference room (301/303) in the Kittredge Center for Business and Workforce Development on the main HCC campus, 303 Homestead Ave.

“Emotional-intelligence competencies are at the heart of effective relationships, productivity, and overall success,” Faustin notes on his website. “Come learn and practice the EI skills that are the core of achieving personal awareness, connecting with others, managing stress, and conflict resolution.”

ALANA Men in Motion is an HCC student support and mentorship program for African-American, Latino, Asian, and Native American men who attend the college.

Kurt Faustin, founder of the Dropout Academy, a personal- and career-development program, focuses on bridging the gap between mental health and performance with an emphasis on emotional intelligence, goal setting, and stress management. A father, entrepreneur, coach, and success strategist, Faustin is a former writer for the Huffington Post and Forbes who has spoken in front of more than 50,000 people, working with organizations such as Harvard University, Chase Bank, and the United Way. He was appointed by Boston Mayor Michelle Wu to the city’s first-ever Black Men and Boys Commission and selected by Color magazine’s 40 Under 40 Power List.

Daily News

HOLYOKE — Polish National Credit Union (PNCU) announced a spring charity event in partnership with Marcotte Ford in Holyoke to benefit Kate’s Kitchen, a program of Providence Ministries. PNCU’s Mike Sugrue, executive vice president; Rachel Dionne, assistant vice president and Credit Risk officer; and Shane Hall, Marketing coordinator, will serve as guest chefs at LugNutz Café within the Marcotte dealership for breakfast on Tuesday, April 23 from 7:30 to 8:45 a.m.

“Kate’s Kitchen is a vital and, in my humble opinion, under-recognized community necessity,” Dionne said. “Each day, 365 days per year, they serve a lunchtime meal to anyone in need with a no-questions-asked policy. They estimate they provide 200 meals per day. It is quite remarkable.”

Polish National Credit Union, through its Community Giving Program, has in recent years donated more than $500,000, thousands of pounds of food, school supplies, and household items to charitable organizations, as well as educated and supported area seniors through its Financial Elder Abuse Workshops. In addition, PNCU highly encourages team members to participate in community initiatives and volunteer their time.

“I feel very lucky to be part of a team where giving back is valued,” Sugrue said. “Currently, our team is involved in about 40 different local organizations through board or committee participation, and we’re always looking for ways to get involved. That is why, when the idea to join the team at LugNutz Café for charity was brought up, my colleagues and I jumped at the opportunity. Although I cannot promise how great my cooking skills will be, I can assure you that giving back to Kate’s Kitchen will make it taste Michelin Star-worthy.”

All proceeds from the April 23 breakfast event will benefit Kate’s Kitchen, which will also be collecting non-perishable food items for donation.

Daily News

HOLYOKE — Canna Provisions will host a community gathering in celebration of 4/20. This event will take place on Saturday, April 20 from 1 to 6 p.m. in the parking lot at 380 Dwight St. This event is free and open to anyone age 21 and up.

The afternoon promises a lineup of live music, featuring local favorites Wild Weston from 1 to 3 p.m. followed by Suspence until 6 p.m. Guests can enjoy food from Bub’s BBQ and sweet treats from Ice Cream Emergency. Fame eatery will also open its doors at 4 p.m., offering cocktails on its patio. Attendees are encouraged to bring lawn chairs and enjoy a day of entertainment, community spirit, and conversations.

The first 50 purchases will win complimentary BBQ or ice cream. The day will also feature specials and giveaways, pop-up DIY cannabis cooking tutorials in the café space at Canna Provisions, and contests throughout the day.

Networking opportunities will be available with local cannabis industry leaders and advocates, as well as Canna Provisions co-founders CEO Meg Sanders and COO Erik Willams, as well as cultivation icon and Pioneer Valley native Greg “Chemdog” Krzanowski, Smash Hits cannabis director of cultivation. Smash Hits cannabis is the proprietary and High Times award-winning legal cannabis flower brand of Canna Provisions.

This year’s 4/20 event is not just about celebration, but also a platform for discussing the future of cannabis regulation in Massachusetts. Holyoke Mayor Joshua Garcia will be on site speaking with constituents and attendees about cannabis as a means to bolster economic development, tourism, and public safety via social consumption in Holyoke.

“It is time for the CCC [Cannabis Control Commission] to issue guidelines on social consumption and act in the spirit of the original ballot initiative that legalized adult use of cannabis and stipulated that it be regulated like alcohol,” Garcia said. “On-site cannabis consumption is the missing link for the cannabis industry to have a positive impact on economic development, tourism, and public safety for cities like Holyoke. We need the ability to issue one-day, on-site consumption permits, similar to one-day liquor licenses for events, and to have a bricks-and-mortar, licensed business that is safe and legal for consumers to visit.”

Garcia has previously praised Canna Provisions for its commitment to the community, noting the dispensary’s role in local traditions such as the Holyoke St. Patrick’s Day Parade and its ongoing support for city initiatives.

Canna Provisions is not only a leader in the cannabis industry but also a proactive community member, fostering both cultural and economic growth. It has been named Corporate Citizen of the Year 2023 by the Lee Chamber of Commerce as well as the Kiwanis Club.

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Jeffrey Siegel

NORTHAMPTON — Fierst Bloomberg Ohm LLP announced that Jeffrey Siegel has become a partner of the firm.

Having earned his juris doctorate at the University of Connecticut School of Law and his master of laws in taxation at the New York University of School of Law, Siegel has more than 35 years of experience assisting individuals with their estate-planning, tax-planning, probate and trust administration, and corporate law needs. He is admitted to practice in both Massachusetts and Connecticut.

Daily News

HOLYOKE — OneHolyoke CDC will host its third annual “I Can Be Anyone I Want to Be” Career Fair for students and community residents on Wednesday, April 24 at Marcella R. Kelly Elementary School, 216 West St., Holyoke. The career-exploration fair for students will be held from 10 a.m. to 2 p.m., followed by the job fair for residents and community members from 4 to 6 p.m.

The event is designed for students to envision future careers for themselves, and also for residents who are looking for potential employment. Organizations that have already signed up to participate in the fairs include OneHolyoke CDC, Massachusetts State Police, Boy Scouts of Western Massachusetts, Holyoke Health Center, Holyoke Fire Department, Sullivan Metals, Nuestras Raíces, Positive Regard Network, River Valley Counseling, and the UMass Amherst Department of Speech, Language, and Hearing Sciences.

Businesses and organizations that are hiring and would like to be part of either or both fairs on April 24 should click here to complete the career fair sign-up form.

Daily News

AMHERST — Paul Haible, executive director of the Peace Development Fund (PDF) for the past 20 years, announced his plans to retire on April 30.

Under Haible’s leadership, PDF amplified its focus to include a broad range of social-justice issues and movements; expanded its footprint to include a regional office in San Francisco, where he was based; and increased its international scope to include funding to Haiti, Mexico, and the Middle East.

He collaborated with the board to launch several initiatives engaging a range of issue constituencies, including a national environmental-justice initiative that spanned a decade, a cross-border initiative, and a national criminal-justice-reform movement. He was instrumental in creating PDF’s capacity-building program to fiscally sponsor more than 40 organizations. Building on his decades of work with the Indigenous community, he led PDF’s recent Indigenous Land Back work.

“While I may be giving up my seat at this table, I will still be serving elsewhere in the struggle for peace and justice in this world,” Haible said. “Transitions are never easy, but I know that I leave PDF in really good hands.”

Founded and still based in Amherst, the Peace Development Fund is a donor-supported national social-justice funder that has been resourcing grassroots movements for peace and human rights since 1981. It provides grants, training, donor services, and capacity-building resources to organizations around the country and around the world.

“Paul’s dedication and vision have been instrumental in shaping the Peace Development Fund into the impactful philanthropic organization it is today,” said Teresa Juarez, board president. “He has been a leader in the publicly funded philanthropic movement for many years. He is leaving big shoes to fill.”

The board has appointed Lora Wondolowski, PDF’s director of Advancement and Communications, as interim executive director until a permanent executive director is found. Haible and board are working with staff and stakeholders to ensure a smooth transition for their grantees, fiscally sponsored partners, and supporters. A succession committee drawn from board and staff membership is charged with searching for the new executive director. Information on the search can be found at peacedevelopmentfund.org.

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WESTFIELD — Westfield State University students in the “Advanced Public Relations” course are launching a campaign, “Literacy is Currency,” for Martin Luther King Jr. Family Services.

The mission of MLK Jr. Family Services is to strive to foster an environment that nurtures and empowers the aspirations of individuals, families, and youth to achieve new realities of peace, social and economic justice, self-determination, self-actualization, and self-sufficiency.

The students’ campaign will create awareness for the organization and collect donations that will provide funds for its literacy program. The campaign will also provide new books that children will be interested in and have fun reading.

In order to meet their goal, the students are inviting the community to join two events, featuring games, raffles, and prizes including Stanley cups, beach supplies, and Westfield State gear. The events take place on Saturday, April 20 from noon to 5 p.m. outside Target at the Holyoke Mall; and Tuesday, April 23 from 11:30 a.m. to 2 p.m. and 4-7 p.m. inside Tim and Jeanne’s Dining Commons at Westfield State University.

The public-awareness campaign will take place on social media via the handle @owlprmlk and use the hashtag #literacyiscurrencymlk.

“We’re delighted to enhance our alliance with Westfield State University with the ‘Literacy is Currency’ initiative, reinforcing literacy’s crucial role as both an empowering tool and a source of excitement about reading, in line with MLK Jr.’s vision that ‘education is the passport to the future’” said Karon Forde, director of Youth Programs at MLK Jr. Family Services. “This project not only reflects our commitment to literacy, but also supports our efforts to elevate reading levels and foster a love of reading among children in our afterschool program. We praise the students for their exceptional commitment to this cause and eagerly await the project’s impact on both the children we serve and the participating university students’ educational journey.”

Suzanne Boniface, adjunct professor of Communication at Westfield State, explained that the course partners with a local nonprofit each semester to help the community through its civic-engagement program.

“These public relations students use the skills they have acquired from their studies and gain practical experience for their future careers,” she said, noting that her students’ campaign will increase awareness of the efforts of Martin Luther Family Jr. Family Services and help them purchase necessary supplies for their program.

Donations to this campaign can be made by Venmo @LiteracyIsCurrency or by visiting mlkjrfamilyservices.org/donate.

Daily News

AGAWAM — Checks of up to $2,500 have been sent to 100 Western Mass. farms that are recipients of this year’s Local Farmer Awards. Supporting a diverse range of farm operations and infrastructure projects, the Harold Grinspoon Charitable Foundation, in partnership with Big Y and the Massachusetts Society for Promoting Agriculture, along with other funders, issued a record number of awards in the program’s 10th year.

A team of independent reviewers read each of the 199 applications submitted this year. These reviewers selected 100 farms to receive a 2024 grant from the Local Farmer Awards. The capital projects include the purchase of an egg-washing machine, livestock pasture expansion, reusable harvest bins, a cover-crop flail mower for reduced tillage, mobile chicken coops, and many more.

Elyse Cote, production manager at Mountain View Farm in Easthampton, explained that “this award will help us purchase a Tilmor mounted tine weeder, allowing us to invest in a time-saving cultivation technique that I am very excited to get to use this growing season. We are super appreciative of this support from our community.”

Harold Grinspoon, philanthropist and founder of the program, noted that “the farmers in our region have done so much for our economy and food supply, yet these wonderful folks never ask for anything. I’m so proud that the Local Farmer Awards have served their needs for the past 10 years with cash awards for capital improvements amounting to $1.5 million.”

The program funders collectively contributed more than $230,000 this year to assist these local farmers. Funders include the Harold Grinspoon Charitable Foundation, Big Y, Massachusetts Society for Promoting Agriculture, PeoplesBank, Ann and Steve Davis, Charles and Elizabeth D’Amour, Barbara Deslauriers, Audrey and Chick Taylor, Andrews, Farm Credit East, Hood, the DeNucci Group at Merrill, Baystate Health, Country Bank, Eastern States Exposition, Three County Fair, bankESB, and Franklin First Federal Credit Union.

“We are proud to support the diverse farming enterprises featured in this year’s winning selection,” said John Lee, president of the Massachusetts Society for Promoting Agriculture.

Cari Carpenter, Local Farmer Awards director, added that “we are delighted to be able to support 100 farms in our 10th year. In 2015, our inaugural year, we provided funds for 33 farms. We would have liked to have been able to provide support to more of the farms that applied this year, but our fund limit required the reviewers to make some difficult choices.”

Anyone interested in supporting the 2025 Local Farmer Awards should email Carpenter at [email protected].

Daily News

HOLYOKE — Analytics Labs, a locally owned, woman- and minority-led small business, announced its upcoming Community Clean-up Day, scheduled for Wednesday, April 24 at 28 Appleton St., Holyoke from 9 to 11 a.m.

This initiative, coinciding with both Earth Day and Arbor Day that week, exemplifies the company’s commitment to environmental sustainability and community engagement. “As the pioneering woman-owned testing lab in Western Massachusetts, Analytics Labs is dedicated to professional excellence and community enrichment,” the company stated. “Rooted in our ethos of growth and social responsibility, we are devoted to nurturing and reinvesting in the communities where we conduct business.”

In a collaboration with Dazed Cannabis located at 56 Jackson St., Holyoke, the first 10 volunteers will receive a gift from Dazed as a token of appreciation for their participation.

Individuals of all ages and backgrounds are invited to join this eco-conscious initiative. Click here to register.

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SPRINGFIELD — Rocky’s Ace Hardware, one of the country’s largest family-owned Ace Hardware dealers with 50 locations in nine states, is kicking off its semiannual Round Up for Kids fundraiser. Throughout the campaign, which extends throughout the month of April, customers are asked to round up their purchase total to the next dollar. The difference will be donated to Children’s Miracle Network (CMN) Hospitals.

“Round Up for Kids has become one of our signature fundraisers each year,” Rocky’s Ace Hardware President Rocco Falcone said. “It’s a cause our customers, staff, and community really get behind. CMN helps more than 12 million kids each year who receive care from a dedicated children’s hospital to get the best possible medical treatment.”

As in the past, 100% of the money raised benefits the local CMN hospital nearest to each store. Local participating Rocky’s locations include the Island Pond Road and Liberty Street stores in Springfield as well as the Agawam, East Longmeadow, Westfield, Ludlow, Palmer, and South Hadley stores. The proceeds will be donated to Baystate Children’s Hospital in Springfield.

“This is a busy season for us as folks come in to get what they need for spring cleanup and summer outdoor living,” Falcone said. “It may not seem like a lot to round up a purchase to the next dollar, but every bit adds up. We anticipate another very successful campaign thanks to the generosity of our customers.”

For more than 40 years, CMN has helped fill funding gaps, raising more than $8.5 billion for 170 children’s hospitals by empowering and engaging with local communities and businesses. All donations fund what’s needed most, like critical life-saving treatments and healthcare services, innovative research, vital pediatric medical equipment, child life services, and financial assistance for families.

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DEWITT, N.Y. — Community Bank announced a strategic plan to expand its branch presence in select markets throughout 2024 and 2025, including two new branch locations in the New England region. The new branches will include an additional location in Springfield, as well as the bank’s first physical branch in New Hampshire, having broken into that market with a commercial banking presence in 2023.

The bank’s current presence in New England includes 28 branches throughout Vermont and Springfield. This announcement comes as newly appointed President and CEO Dimitar Karaivanov officially steps into his role this year and begins to execute his strategic vision for the bank.

As Community Bank expands into promising markets with strong potential for growth, it is reimagining the customer in-branch experience with clean, modern designs that encourage customer and banker collaboration, local community tie-ins, and staff that can handle a wide array of financial needs. The bank will bring a full suite of consumer, business, and municipal banking products and services, including no-closing-cost mortgage options, business loans and lines of credit, and competitive CD offerings.

“Community Bank is not just expanding, but deepening our roots in New England,” said Matthew Durkee, regional president of New England. “Our branches are the cornerstone of our retail business, and each one allows us to support the community and deepen our relationships with our customers as we partner together throughout their financial journey.”

The move to establish additional branch locations in New England is a substantial investment that will allow the bank to better serve clients and aid in local economic development by creating new jobs, contributing to community efforts, and fostering financial stability.

“We are pleased to officially announce our plans to expand our branch presence throughout New England,” Karaivanov said. “We’ve served the New England market through various lines of business and are happy to further support new and existing customers with additional branch services. We are poised to execute on our growth strategy with the goal of bringing our service offerings to more communities in Springfield, Massachusetts, and in New Hampshire. We look forward to expanding our presence in the New England region through community outreach, supporting our neighbors, and building relationships with our new customers.”

In addition to expanding in New England, Community Bank will continue to grow its branch presence throughout New York’s Western, Central, and Capital regions, as well as throughout Lehigh Valley in Pennsylvania.

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MIDDLETOWN, Conn. — David Glidden, president and CEO of Liberty Bank, and the bank’s board of directors jointly announced that Doug Anderson was unanimously elected chairman of the board at its March meeting.

The election of Anderson comes after the unexpected passing of longtime Chairman Mark Gingras on March 7. Gingras served as Liberty’s board chairman since 2007 and board member since 2001.

Anderson’s role as a Liberty Bank corporator and board member began in April 2018. During that time, he has served on the credit risk, audit, compensation, and governance committees, and most recently as chair of the credit risk committee.

He brings decades of diverse leadership experience in banking, finance, management, and operations to the role of chairman. His extensive background includes senior executive roles as president of the former Savings Bank of Manchester (SBM) until 2004 and chairman, president, and CEO of the former Open Solutions. He spent 14 years at Unisys, an international technology company, and served on the board of directors for the former New Alliance Bancshares Inc.

Beyond Liberty’s boardroom, Anderson, a graduate of the University of Connecticut, has been a dedicated and generous community partner. This includes his philanthropic support and board service for many organizations and causes, such as the Connecticut Science Center, SBM Charitable Foundation, Manchester Community College Foundation, and Connecticut Foodshare. He also served as chairman of the Liberty Bank Foundation.

“Since Doug joined the board six years ago, he has earned high admiration and a stellar reputation as a director and a ‘Be Community Kind’ brand ambassador in the communities we serve,” Glidden said. “Not only does he possess extensive business acumen, but he also brings invaluable banking acumen and a wealth of banking knowledge as a former president and board chair for other community banks. He’s done a terrific job, and we know he will serve us well in setting the course for the bank as he takes on this leadership role.”

On the unexpected passing of Gingras, Glidden added, “Mark was a wonderful husband, dad, and doting grandfather. He also cherished his second family, his Liberty teammates. Whether he was in the boardroom, visiting a branch, or in the community, Mark always conveyed kindness, loyalty, and leadership, and demonstrated a steadfast dedication to ensuring Liberty remains a mutual bank. His leadership and friendship cannot be replaced, but his legacy will live on in the hearts and minds of our board members and teammates at Liberty Bank.”

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UNCASVILLE, Conn. — The Society for Human Resource Management (SHRM) announced that the Tri-State SHRM Conference, the largest human-resources (HR) conference in New England, will take place at Mohegan Sun in Uncasville, Conn. on May 13-15.

The conference aims to unmask the changing face of HR by providing HR leaders with the necessary tools to stay ahead of the curve. The multi-day event will feature keynote speakers, educational breakout sessions, interactive games, multiple business networking opportunities, and an expo showcasing the latest HR technology and trends.

The conference will cover a variety of topics, including “Building a FOMO Workplace Culture,” “SEAT of Success: How Top Performers Never Settle for Balcony Seats,” and “Beyond Productivity: the Unseen Risks of Employee Stress and Burnout in the Workplace.” There will be 24 sessions available in total, featuring more than 27 speakers. Register online at tristateshrm.com.

“The world has drastically changed over the past couple of years. With that being said, HR leaders must stay current with issues, laws, and best practices,” said Cindy Sherman, Marketing manager for the Tri-State SHRM Conference. “This conference is designed to give them all of that and more. The past couple of years have been stressful, and this conference provides HR leaders with the opportunity to renew and refresh while learning from industry experts.”

The Massachusetts State Council of SHRM (MassSHRM) is a board of volunteers committed to making a positive impact in the human-resources community in the Commonwealth of Massachusetts.

An affiliate of the Society for Human Resource Management (SHRM), MassSHRM serves to support our affiliated local chapters, to deliver resources and education to the HR community, and to advocate for and advance the HR profession.

Daily News

SPRINGFIELD — When BusinessWest launched its 40 Under Forty program in 2007, it did so to identify rising stars across our region — individuals who were excelling in business and through involvement within the community — and celebrate their accomplishments.

In 2015, BusinessWest announced a new award, one that builds on the foundation upon which 40 Under Forty was created. It’s called the Alumni Achievement Award. As the name suggests, it is presented to the 40 Under Forty honoree who, in the eyes of an independent panel of judges, has most impressively continued and built upon his or her track record of accomplishment.

Candidates must be from 40 Under Forty classes prior to the year of the award — in this case, classes 2007 to 2023.

Past winners include: 2023: Amy Royal, founder and CEO, Royal Law Firm (40 Under Forty class of 2009); 2022: Anthony Gleason III, president and co-founder, Gleason Johndrow Companies (class of 2010); 2021: Anthony Gulluni, Hampden County district attorney (class of 2015); 2020: Carla Cosenzi, president, TommyCar Auto Group (class of 2012), and Peter DePergola, director of Clinical Ethics, Baystate Health (class of 2015); 2019: Cinda Jones, president, W.D. Cowls Inc. (40 Under Forty class of 2007); 2018: Samalid Hogan, regional director, Massachusetts Small Business Development Center (class of 2013); 2017: Scott Foster, attorney, Bulkley Richardson (class of 2011), and Nicole Griffin, owner, ManeHire (class of 2014); 2016: Dr. Jonathan Bayuk, president, Allergy & Immunology Associates of New England (class of 2008); 2015: Delcie Bean, president, Paragus Strategic IT (class of 2008).

The 2024 Alumni Achievement Award finalists will be profiled in the June 10 edition of BusinessWest, and the honoree will be announced at the 40 Under Forty gala on June 20. The presenting sponsor of the Alumni Achievement Award is Health New England.

Click here for the nomination form. Only nominations submitted to BusinessWest on this form will be considered. The deadline is Friday, May 10 at 5 p.m., no exceptions. For your convenience, a list of the past 40 Under Forty classes may be found by clicking here.

Daily News

PHILADELPHIA — According to a report in the Philadelphia Inquirer, the Southeastern Pennsylvania Transportation Authority (SEPTA) has “terminated for cause” a $185 million contract with Springfield-based CRRC for 45 double-decker passenger cars. The project was about four years behind schedule.

According to SEPTA officials, the newspaper reported, Chinese-owned CRRC had performed shoddy work and repeatedly failed to meet production deadlines.

“The authority is assessing its options for recouping funds that have been spent on the project,” SEPTA spokesperson John Golden said in a statement, adding that SEPTA has paid more than $50 million, the Boston Globe reported.

In response, CRRC MA spokesperson Lydia Rivera issued a statement that, “having worked closely with SEPTA’s project team, beginning with rail-car design through initial vehicle production, CRRC MA remains committed to completing the project and continues to seek further discussions to resolve SEPTA’s concerns.”

According to the Inquirer, CRRC’s bid price on the SEPTA project was $34 million below its nearest competitor, the Canadian company Bombardier, which had more than a decade of experience building rail cars in America.

In 2014, the Massachusetts Bay Transportation Authority hired CRRC MA to build new cars on the Red and Orange lines of Boston’s T network. After significant delays, the company now promises all cars will be delivered by the end of 2027. Rivera said the company has delivered 114 of 152 new Orange Line cars and 18 of 252 Red Line cars to the T.

Daily News

SPRINGFIELD — The Rotary Club of Springfield will present “Financial Foundations for Women: Bridging the Gap and Connecting Women in Our Community,” a panel discussion that empowers women to take control of their financial future, on Thursday, April 25 from 5 to 7:30 p.m. at White Lion Brewing, located in Tower Square at 1500 Main St., Springfield.

The panel discussion will focus on the importance of lifting each other up in the pursuit of women’s empowerment, creating support networks, and seeking financial advice. Attendees will gain valuable insights into securing their financial future for themselves and their families.

The panelists for the event include Carla Alves, Rotarian and vice president at Country Bank; Erica Flores, partner at Skoler, Abbott & Presser, P.C.; Flavia McCaughey (moderator), Rotarian and vice president of FR Investment Group; Jessica Roncarati-Howe, executive director of Dress for Success Western Massachusetts; and Samalid Hogan, Rotarian and CEO of Greylock Management Consulting.

Attendees will also have the chance to network with fellow participants and enjoy heavy appetizers throughout the evening.

Tickets for the event are priced at $40 per person and can be purchased online through the Rotary Club of Springfield website at www.springfieldmarotary.org. For further information, contact Hogan at (413) 342-0013 or [email protected].

Daily News

EAST LONGMEADOW — Excel Dryer recently unveiled a comprehensive office expansion and renovation project. This initiative, rooted in the company’s mission to lead through innovation, aimed to merge beauty, health, wellness, and sustainability into its workplace. The project’s insights and methodologies are set to educate through a unique continuing education unit (CEU) course offered by Architectural Record magazine in its Continuing Education Center, serving as a detailed roadmap of Excel Dryer’s innovative journey.

Guided by the WELL Building Standard as a principal framework, the renovation serves as a case study showcasing Excel’s commitment to integrating the latest and most effective products in support of occupant well-being, productivity, and environmental sustainability. This initiative aims to inspire and educate not just architects, designers, and the construction community, but also owners and facility managers, offering insights into the practical application of sustainability and health-focused principles in commercial interiors and demonstrating Excel Dryer’s leading role in the movement toward more responsible workplace design.

“Our vision was clear from the start — to craft the most beautiful, healthy, and sustainable workplace imaginable,” said William Gagnon, chief operating officer of Excel Dryer. “We are thrilled with the results and proud of how our own latest product solutions were a perfect fit for this lofty goal.”

Katherine Brekka, senior associate and sustainability practice leader at Fennick McCredie Architecture, praised the initiative, noting that “being a part of this groundbreaking project was an extraordinary experience. The innovative blend of space, beauty, and wellness achieved is something I’m incredibly proud of. It represents a forward-thinking approach to workplace design that I was thrilled to contribute to and see come to life.”

The Architectural Record’s CEU course provides a focused overview on the intersection of modern design, health standards, and sustainability in commercial architecture. It provides information on the multiple innovative products used to achieve WELL certification and explores the evolution of hygiene and sustainability post-pandemic, highlighting the importance of touchless technologies in public restrooms to prevent illness. Ultimately, the course showcases how integrated design solutions can promote health, efficiency, and environmental stewardship in commercial spaces.

Daily News

CHICOPEE — Elms College and the St. Augustine Center for Ethics, Religion, and Culture will present the fifth annual Rev. Hugh Crean Distinguished Lecture in Catholic Thought on Wednesday, May 1 at 4:30 p.m.

The lecture, which will take place in person in the college’s Alumnae Library Theater, was rescheduled from its initial April 4 date. Click here to register.

The distinguished speaker for this lecture is Dominic Doyle, associate professor of Systematic Theology at the Boston College School of Theology and Ministry (STM). The theme for Doyle’s remarks will be “Christian Humanism and the Theology of Hope.”

Most recently, Doyle led STM’s Neuroscience Education for Theological Training grant from the Science for Seminaries program sponsored by the American Assoc. for the Advancement of Science/Dialogue on Science, Religion, and Ethics. He is currently working on a book exploring the history of theological virtues, tentatively titled Thematic Variations in Theological Virtue.

The St. Augustine Center for Ethics, Religion, and Culture (CERC) at Elms College was launched in October 2020 with support from an anonymous naming gift and several significant contributions. The center aims to increase engagement and discourse on the most pressing and complex questions related to ethics, religion, and culture in today’s society, and to lead the regional community in thoughtful, engaging dialogue.

The founding executive director of the CERC is noted bioethicist Peter DePergola II, Shaughness Family chair for the Study of the Humanities and associate professor of Bioethics and Medical Humanities at Elms.

The annual Rev. Hugh Crean Distinguished Lecture was established through an endowment made by Jack and Colette Dill to honor Crean’s legacy and recognize his academic work at Elms College and his pastoral ministry throughout the Diocese of Springfield and the entire region.

Business Talk Podcast Special Coverage

We are excited to announce that BusinessWest has launched a new podcast series, BusinessTalk. Each episode will feature in-depth interviews and discussions with local industry leaders, providing thoughtful perspectives on the Western Massachuetts economy and the many business ventures that keep it running during these challenging times.

Go HERE to view all episodes

Episode 209: April 15, 2024

Joe speaks with Tara Brewster, vice president of Business Development and director of Philanthropy at Greenfield Savings Bank

Tara Brewster has come a long way from her years in the world of men’s clothing. Over the past several years as vice president of Business Development and director of Philanthropy at Greenfield Savings Bank — a role in which no two days are the same, she says — Brewster has only grown her heart for the business community (which she also expresses as host of the Western Mass Business Show on WHMP) while continuing to find impactful ways to serve local nonprofits and community organizations. On the next episode of BusinessTalk, she talks with BusinessWest Editor Joe Bednar about all of this and more — and how she manages to find balance in a very busy and meaningful life. It’s must listening, so tune in to BusinessTalk, a podcast presented by BusinessWest.

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Daily News

SPRINGFIELD — New England Public Media (NEPM) and the Academy of Music will present the Best of Valley Voices Story Slam on Saturday, April 13 beginning at 7:30 p.m. at the Academy of Music theater in Northampton. Click here to purchase tickets.

The show will conclude the ninth season of the popular, competitive storytelling series that features local storytellers sharing five-minute true stories live on stage at venues throughout Western Mass.

The best-of show features 12 local storytellers, all of whom were top-three finishers at the regular-season shows. While some storytellers featured in the Best of Valley Voices have performed on national platforms like the Moth Mainstage, the Moth Radio Hour, StoryJam, and SpeakUp, for others, telling stories with Valley Voices Story Slam is their first experience with the art form.

This is true for Josh Simpson of Shelburne, a world-renowned glass artist, who pitched the Valley Voices Story Slam line for the first time in January. He’ll be sharing his winning story about how he met his wife, NASA astronaut Cady Coleman, on the Best of Valley Voices stage. He’ll be joined by Ruthy Woodring, founding member of Pedal People Cooperative; Amy Dryansky, former poet laureate of Northampton; and nine others.

Rooted in the tradition of first-person narrative storytelling, story slams emphasize both content and performance, challenging storytellers to captivate audiences within a strict time frame of under five minutes. At the end of the show, the audience will vote on their favorite stories, and one lucky teller will be crowned the winner of season nine.

NEPM and the Academy of Music Theatre produced the first Valley Voices Story Slam as a promotion for a Moth Mainstage show at the Academy of Music in 2013.

“At the time, storytelling events were not really on the radar,” said Vanessa Cerillo, co-executive producer and co-host of Valley Voices Story Slam and senior director of Marketing and Events for NEPM, adding that Academy of Music Executive Director Debra J’Anthony approached her with the idea to try a small slam to test the market in Western Mass., since the Moth Radio Hour is aired on 88.5 NEPM. “The Moth has definitely inspired us, but we’ve really worked over the years to make Valley Voices Story Slam a truly local event, with a big following in Western Mass.”

What began as a small live-event series has evolved over the years to include a podcast and YouTube video series featuring the stories heard on stage at the live events, both produced by NEPM. In 2022, NEPM also produced a pilot season of Valley Voices Radio. Links to the podcast, YouTube, and radio episodes can be found at nepm.org/valleyvoices.

“In our ninth year of Valley Voices Story Slam, we are proud and delighted to encourage and include new voices to share their stories on stage throughout the Valley,” said J’Anthony, co-host and co-executive producer of Valley Voices Story Slam.

At the April 13 event, hip-hop DJ Pzo Pete will set the stage with a custom set that reflects the themes, stories, and storytellers throughout the show. He appears thanks to a partnership with Genuine Culture, a Holyoke-based organization connecting music enthusiasts with dynamic live shows and cultural events.

Daily News

SPRINGFIELD — 6 Brick’s Cannabis Dispensary will host a visit and event featuring NFL Hall of Famer Calvin Johnson Jr., famously known as Megatron, today, April 12, starting at 2 p.m. at 1860 Main St., Springfield.

Johnson, a 2021 NFL Hall of Fame inductee and the holder of the single-season NFL receiving record, will stop by to celebrate a collaboration between 6 Brick’s and his own, Michigan-based cannabis brand, Primitive, which is now offered in Springfield through 6 Brick’s.

“We are excited to host 2021 NFL Hall of Fame inductee Calvin Johnson Jr. and to carry his brand, Primitive,” said Payton Shubrick, CEO and founder of 6 Brick’s. “We have worked hard to make connections like this all over Massachusetts to bring synergies to our product line but also to continue to bring positive notoriety to our hometown of Springfield. This Massachusetts-Michigan connection is exciting.”

As a promotion, customers purchasing one eighth-ounce will receive a complimentary photo opportunity with Megatron.

“With a focus on connecting customers with the best products sourced across the state, these events provide wonderful opportunities for our customers and community alike,” Shubrick added. “In addition to the chance to meet Calvin Johnson Jr., attendees will have the opportunity to engage with the Primitive brand and its lineup of premium cannabis products.”

Daily News

CHICOPEE — Students at Elms College are nearing the conclusion of the spring 2024 semester and are making a difference throughout the region.

“At Elms, we strive to provide every student with at least one high-impact experiential learning opportunity during their college career,” said Jennifer Granger Sullivan, director of the Dolores Donlin Noonan ’39 Experiential Learning Program. “We want our students to be cognizant of their community and ready to step into their careers, and experiential learning is a way to make that happen.”

Elms College will highlight all of the experiential learning opportunities Elms CollegeElms CollegeElms Collegeover the past year at the annual Experiential Learning Showcase on Friday, April 26 starting at 9:30 a.m. on the Keating Quadrangle.

Elms is the only college in the area that has as a stated goal of providing every student at least one high-impact experiential learning opportunity during their tenure.

Indeed, experiential learning is one of the five pillars of the college’s 2020-24 strategic plan. Elms offers its students several options to learn outside the classroom, including internships, research projects, mission trips, service-learning experiences, study abroad, and course-based, community-engaged learning opportunities. Central to the mission and core values, the goal is for an Elms graduate to be career-ready and community-minded.

Two examples of how Elms students have made a difference are ArihJey Villion-Nahue ’25, a criminal justice and psychology double major, and Adam Rochette ’24, a social work and sociology double major.

Villion-Nahue completed her internship at the Community Justice Support Center in Springfield. Her work included observing group sessions, part of cognitive behavioral therapy, and participating in assessments that help determine how much time clients need to spend within the program based on feeling remorseful for their crimes or recognizing that crime is bad.

Rochette completed his internship with state Rep. Shirley Arriaga. He worked in Arriaga’s constituent services department, meeting with members of the community, listening to their personal needs, and calling agencies to advocate on their behalf.

Several other organizations offered Elms students experiential learning opportunities throughout the academic year, including Baystate Medical Center, Pioneer Valley Life Sciences, Polish Center of Discovery and Learning, the Springfield Thunderbirds, and Hartford Healthcare, to name a few.

Daily News

LEEDS — The VA Central Western Massachusetts Healthcare System is commemorating a century of dedication to serving U.S. veterans. Established in 1924, the healthcare system has continuously evolved to meet the changing needs of veterans, delivering compassionate care and innovative services.

To honor this significant milestone, the VA invites the community to an event on Saturday, May 11 from 9 a.m. to 3 p.m. at 421 North Main St., Leeds. The festivities will include special events, recognition ceremonies, and opportunities for veterans and their families to connect with one another, as well as food, games, and fun for the whole family.

“We are grateful for the unwavering support of our community partners, volunteers, and dedicated staff members who have contributed to our success over the past century,” said Sarah Robinson, Public Affairs officer for the VA Central Western Massachusetts Healthcare System. “As we reflect on our rich history and look toward the future, we reaffirm our commitment to serving those who have served us. Together, we will continue to uphold the promise of providing exceptional care and support to our nation’s heroes.”

For more information about the centennial celebration and upcoming events, visit www.va.gov/central-western-massachusetts-health-care or call Robinson at (413) 584-4040, ext. 3532.

Community Spotlight

Community Spotlight

planned redevelopment of the former Wilson’s department store

An architect’s rendering of the planned redevelopment of the former Wilson’s department store into a mix of retail and housing.

Virginia “Ginny” Desorgher is a retired emergency-room nurse, mother of three, and grandmother of nine.

She had no real desire to add ‘mayor of Greenfield’ to that personal profile, but Desorgher, a transplant from the eastern part of the state and, by this time last year, a veteran city councilor and chair of the Ways and Means Committee, decided that change was needed in this city of almost 18,000.

So she ran for mayor. And she won — handily. And now that she’s been in the job for three months, she can see many similarities between being an ER nurse and being the CEO of a city.

In both settings, there is a need for triage, she explained, noting that, in the ER and with this city, there is a steady stream of cases, or issues, to be dealt with, and they must be prioritized.

“You just have to take care of the thing that’s the most important at the time and try to keep everyone happy,” she said while trying to sum up both jobs.

There is also a need for communication.

Indeed, in the ER, Desorgher said she made a habit of visiting the waiting room and talking with the patients here, explaining why their wait was so long and asking them if they needed something to eat or drink or maybe some ice for their broken ankle. As mayor, she sees a similar need to communicate, whether it’s with other city officials, residents, neighbors of the Franklin County Fairgrounds, or business owners — a constituency she heard from at a recent gathering she described as a “listening session,” during which she received input on many subjects, but especially parking.

“You just have to take care of the thing that’s the most important at the time and try to keep everyone happy.”

“I thought I kind of knew how much people cared about parking,” she said. “Now I really know that parking is quite an issue.”

But while that subject remains mostly a sore spot for this community, there is momentum on many different fronts, and what Desorgher and others described as ‘game changers’ — or potential game changers — in various stages of development.

That list includes the much-anticipated adaptive reuse of the former Wilson’s department store into a mix of retail (in the form of an expanded Green Fields Market) and housing, both of which are expected to breathe new life into the downtown.

“The initial impact on foot traffic downtown from 61 new units will be extraordinary,” said Amy Cahillane, the city’s Community and Economic Development director, adding that the project is being designed to bring these new residents into the downtown area.

It also includes the prospects for the city becoming a stop on what’s being called the ‘northern tier’ of proposed east-west rail service — one that will in many ways mirror Route 2 — as well as the pending arrival of both a Starbucks and an Aldi’s grocery story near the rotary off I-91 exit 43 and a massive redesign of Main Street, now likely to start in 2027.

Together, these game changers — coupled with some new businesses downtown; efforts to inspire and support entrepreneurship, including a new pitch contest called Take the Floor; collective efforts to bring more visitors to Greenfield and the surrounding area, especially at its oldest continuously operating fairgrounds in the country; and a greater sense of collaboration among business and economic-development agencies — have created an upbeat tone in this community, with great enthusiasm for what comes next.

Ginny Desorgher

Ginny Desorgher says she wasn’t keen on adding ‘mayor’ to her personal profile, but became convinced it was time for a change in Greenfield.

“What I’m most excited about is that we now have all these people who are thinking collectively about how we can make the most of this momentum,” said Jessye Deane, executive director of the Franklin County Chamber of Commerce and Regional Tourism Council.

For this latest installment of its Community Spotlight series, BusinessWest takes an indepth look at the many developing stories in Greenfield.

 

Tale of the Tape

And we start with a somewhat unusual gathering downtown on the Saturday before Easter.

Indeed, Desorgher, Cahillane, Deane, and others spent several hours in the central business district cleaning the bases of streetlights, an undertaking organized by the Greenfield Business Assoc. (GBA).

All three had somewhat different takes on what they were expecting from this exercise, but the consensus is that it was more difficult, and time-consuming, to remove the remnants from countless posters for events — and the tape used to affix them to the structures — than they thought.

But while the work was a grind, they all said it was important, worthwhile, and much more than symbolism. And it even inspired a thought to create one or more community bulletin boards so individuals and groups would have a place to promote their events other than light poles.

Deane said the cleanup was an example of a greater sense of collaboration within the community and its many civic and business organizations, from officials in City Hall to the chamber; from the GBA to the Franklin County Community Development Corp. (FCCDC).

“What I’m most excited about is that we now have all these people who are thinking collectively about how we can make the most of this momentum.”

“There’s new energy taking place on a partnership level, and it was nice to see Greenfield leaders like the mayor come down and take action,” said Deane, adding that the cleanup was just one example of this energy. Another was the aforementioned listening session, which she said was likely the first of its kind.

“The business owners and community leaders really appreciated having the opportunity to have that kind of forum with the mayor — an open forum where they could say, ‘here’s what’s going really well, here’s what we think needs work, and how are we all going to work together to bring Greenfield forward?’ That was great.”

The streetlight cleanup project and listening session represent just two of many forms of progress, with some steps larger and more significant than others, said those we spoke with, but all critical to that sense of momentum and building toward something better.

And there are many reasons for optimism, especially what most refer to simply as the ‘Wilson’s project.’

For decades, the store represented something unique — an old-fashioned department store in an age of malls and online shopping. When it closed just prior to the pandemic, it left a huge hole in the downtown — not just real estate to be filled, but the loss of an institution.

There’s no bringing back Wilson’s, but the current plan, a proposal put forward by the Community Builders and Green Fields Market, a popular co-op currently located farther down Main Street, will bring retail and housing, specifically roughly 60 mixed-income units, to Main Street.

The housing units, as noted earlier, are expected to bring foot traffic and more vibrancy to the downtown, said Cahillane, noting that this will be foot traffic that doesn’t leave at 5 o’clock and should comprise a good mix of age groups, thus providing a boost for the growing number of restaurants and venues like the Hawks & Reed Performing Arts Center.

“The Community Builders is being thoughtful in the way they’re designing this space to encourage folks not to just exit out a rear door, get in their cars, and leave,” she explained. “Instead, they’re going to make it so it’s very easy to get from the apartments onto Main Street; this encourages them to come out into the community.”

Greenfield at a glance

Year Incorporated: 1753
Population: 17,768
Area: 21.9 square miles
County: Franklin
Residential Tax Rate: $20.39
Commercial Tax Rate: $20.39
Median Household Income: $33,110
Median Family Income: $46,412
Type of Government: Mayor, City Council
Largest Employers: Baystate Franklin Medical Center, Greenfield Community College, Sandri
* Latest information available

Meanwhile, several other properties downtown are in various stages of bringing upper floors online for housing, Cahillane explained, adding that this movement will help ease a housing crunch — which she considers the most pressing issue in the community — and generate still more foot traffic, which should help bring more businesses to the downtown.

There are already some recent additions in that area, including a computer-repair store on Federal Street, and, on Main Street, Sweet Phoenix, an antiques and crafts store, and Posada’s, a family-owned Mexican restaurant that the mayor said is “always packed.”

Meanwhile, the plans for Aldi’s and Starbucks, both in the early stages, are generating some excitement, the mayor added, noting that the latter, especially, will provide motorists on I-91 with yet another reason to get off in Greenfield and perhaps stay a while.

 

Getting Down to Business

These additions bolster an already large and diverse mix of businesses in the city, which still boasts some manufacturing — though certainly not as much as was present decades ago — as well as a healthy mix of tourism and hospitality-related ventures, service businesses, nonprofits (Greenfield serves as the hub for the larger Franklin County area), and several startups and next-stage businesses in various sectors, from IT to food production.

One of those long-standing businesses is Adams Donuts on Federal Street, now owned by Sabra Billings and her twin sister, Sidra Baranoski.

Originally opened in the ’50s, Adams Donuts is an institution, well-known — and in many cases revered — by several generations of area families. There have been several owners not named Adams, Billings said, adding that the one before her closed the establishment during COVID with the intention of reopening, but never did.

The two sisters stepped forward to keep a tradition alive — and work for themselves instead of someone else.

“It was kind of crazy; we’d never owned a business before, but here we were buying a shuttered business in the middle of a pandemic,” Billings said. “But it’s been really special to be part of the community, and what we call the ‘Adams community’; there are generations from the same families that are customers.”

Thus, they’re part of what could be called a groundswell of entrepreneurship in Greenfield and across Franklin County, one that John Waite, executive director of the FCCDC, has witnessed firsthand over the past 24 years he’s spent in that role.

He said there is a large, and growing, amount of entrepreneurial energy in Greenfield and across the county, largely out of necessity.

Indeed, since the larger businesses, most of them manufacturers, closed or left, the region and its largest city are more dependent on smaller businesses and the people who have the imagination, determination, and ideas with which to start them.

And the FCCDC is supporting these business owners in many different ways. The agency has several divisions, if you will, including direct business assistance — everything from technical assistance to grant funds to support ventures of various sizes — to a venture center that now boasts six tenants, to the Western Massachusetts Food Processing Center, which boasts 66 active clients processing, canning, and jarring everything from salsa to applesauce to fudge sauce.

Overall, the FCCDC served more than 350 clients in FY 2023, loaned out nearly $3 million to 31 businesses, and carried out work that resulted in the creation of 70 jobs and the preservation of 114 jobs, said Waite, adding that one of its more impactful initiatives is its loan program.

The loans vary in size from a few thousand dollars to $300,000, and the agency can work with area banks if a venture needs more. They are offered to businesses across a wide spectrum, including hospitality, a sector where there is often need, Waite noted, citing the example of 10 Forward, a unique performing-arts venue and cocktail bar on Fiske Avenue in the downtown.

“A lot of musicians need a place to play, and they’ll sign them up, and they’ll do comedy once in a while,” he explained, adding that the venue is part of an evolving downtown, one that now has more things happening at night and more events and programs to attract the young people who provide needed energy.

Meanwhile, Take the Floor, a CDC initiative that involves the entire county, is another avenue of support. The Shark Tank-like pitch contest has attracted dreamers across the broad spectrum of business, and the top three performers at three different contests — the latest was in Orange — will compete for $10,000 in prizes in the finale at Hawks & Reed.

“Developing our entrepreneurial infrastructure is very important to this region,” Waite said. “We want to make sure people know where they can go for resources to help them succeed.”

Where Are They Now?

Where Are They Now?

Will Dávila

Will Dávila says he’s always sought out career opportunities where he can make an impact.

 

Will Dávila says he’s learned from experience — and some not-so-pleasant experiences, to be more precise — that, when a job isn’t working for you, you don’t stay in it.

And in his case, ‘not working’ translates directly to “you don’t feel fulfilled, you don’t feel like you’re having an impact or making a difference, and it just doesn’t look like that’s going to be happening.”

Such was the case with his short tenure serving as campus executive director of the UMass Center at Springfield a decade or so ago. He envisioned the role as one where he could “bring education to this community and really promote higher education as an opportunity for kids like me, who grew up in Springfield, in the projects, and had limited opportunities.”

The reality was different as the facility struggled to ramp up enrollment.

“Instead, I spent almost all my time giving tours,” he told BusinessWest, noting that the facility, created on the mezzanine level at Tower Square, had just opened, and many business and civic leaders, as well as the press, wanted to see it. “I said, ‘I’m a social worker. I’ve been in human services my whole career. This is not a good use of my time.’”

Coincidentally, one of those who eventually came in for a tour was Jim Goodwin, president and CEO of the Center for Human Development (CHD), and during that visit, the two started talking, a discussion that eventually led to Dávila becoming vice president of Clinical Services for the agency.

He would spend a few years in that role before becoming a nonprofit consultant and executive advisor, then leading two nonprofits, and then returning to CHD last October to assume the role of vice president of Diversion, Shelter & Housing, a role where he believes he’s making a deep impact.

Overall, it’s a been a winding journey with a few of those jobs that weren’t working, but, overall, it’s been a rewarding career in the broad realm of health and human services, one that serves as an appropriate and poignant starting point for a new series we’re launching at BusinessWest called, appropriately enough, ‘Where Are They Now?’

“Part of the unfortunate reality is that they move through a continuum of services. So I consider myself privileged to have worked in many parts of that continuum.”

As the magazine prepares to celebrate its 40th anniversary of serving the region, and as some of its recognition programs — which have brought hundreds of individuals and groups into the spotlight — approach two decades of existence, there is a need to update many of the stories we have told over those years.

We begin with Dávila, who started his career with nonprofits focused on health and human services more than 20 years ago, when he became Metro Boston regional manager for Devereux Advanced Behavioral Health. Then came his first stint at the agency now known as Helix Human Services, then known as the Children’s Study Home.

But it was a few years later, when he was serving as director of Outpatient Services at the Gándara Center in Springfield, when he was first recognized by BusinessWest, as a member of the 40 Under Forty class of 2013.

Soon thereafter came that short stint at the UMass Center at Springfield, his first stint at CHD, work as a consultant, a return to what is now Helix as executive director and CEO (when that agency was being rebranded and also being recognized by BusinessWest as a Difference Maker), and then a very short stint — a cautionary tale, as he calls it — as CEO of the Villa of Hope in Greece, N.Y., another of those jobs that just wasn’t working, this time for different reasons.

“The board was not really forthcoming about the real condition of the organization,” Dávila said, adding that what he found did not match what he was told in interviews, regarding everything from the budget — the $20 million agency was trending toward a $4 million deficit for the fiscal year soon to come to a close — to the workforce, to the vacancies within its programs.

He is now back at the agency he calls home (this is actually his third stint there), in a role where he oversees a staff of roughly 240, an annual budget of $34 million, and a division with dozens of family and individual units, several emergency shelter hotels, and other housing options.

This latest assignment enables him to add another line, another area of focus — in this case housing — to his résumé and, far more importantly, make an impact and a difference in people’s lives.

“It’s an amazing department and an amazing service,” Dávila said. “It’s something different, but, surprisingly, it’s not all that different. A lot of the folks we’re dealing with are the same people we’re assisting in residential, in children’s services, foster-care and outpatient services, and substance-abuse services.

“Part of the unfortunate reality is that they move through a continuum of services,” he went on. “So I consider myself privileged to have worked in many parts of that continuum and actually lead some of them, so this is a nice addition to my portfolio, if you will.”

That’s where Dávila is now — and where he plans to be for some time, because this job definitely does work for him.

 

—George O’Brien

Construction

Taking Flight

Falcon Landing will be located just north of Westfield-Barnes Regional Airport.

Falcon Landing will be located just north of Westfield-Barnes Regional Airport.

In a location that once thrived as part of a computer manufacturing facility for Digital Equipment Corp., a joint-venture development team of Winstanley Enterprises LLC and NorthPoint Development is moving forward with approved plans to build a general warehouse and distribution facility. The recently obtained state and local approvals for the sought-after location come as the warehouse and distribution sector continues to thrive.

Falcon Landing is an approved 524,000-square-foot, state-of-the-art general distribution facility that will be constructed for one or two tenants adjacent to Westfield-Barnes Regional Airport on Falcon Drive in Westfield. The 126-acre parcel will include 362 parking spaces to accommodate two employee shifts and 322 tractor-trailer spaces. The site boasts easy accessibility and is located about two and a half miles from Mass Pike exit 41.

Last August, the joint-venture development team focused its multi-disciplinary group of planners, engineers, and architects on developing a scaled-down distribution facility at this location. After they listened to neighborhood concerns, the site plan incorporated a meticulously designed robust stormwater-management plan and preservation of mature trees for buffering, and also eliminated any connections to North Road. The project received state approval in October and local approval in February.

“Our project team worked very hard to put forward a sensible plan that is rooted in community input, prioritizes protection of sensitive resources, and delivers economic-development benefits to Westfield,” said Adam Winstanley, principal of Winstanley Enterprises. “We are excited to move the project forward.”

Marketing efforts have ramped up to secure a suitable tenant; however, the warehouse will be built on spec if a tenant is not secured prior to construction. With the needed approvals in hand, the team will continue to coordinate closely on finalizing both building-design elements and traffic-mitigation improvements.

“Falcon Landing is an ideal location for companies looking to grow their business at a brand-new, state-of-the-art facility that offers easy accessibility from the Mass Pike,” said Andrew Villari, Development manager for NorthPoint Development. “We are proud to be a part of this project and excited about the future in Westfield.”

“Our project team worked very hard to put forward a sensible plan that is rooted in community input, prioritizes protection of sensitive resources, and delivers economic-development benefits to Westfield.”

Winstanley Enterprises, a family-owned and operated commercial development company, has been a property owner in Westfield since 2018, when it purchased 1111 Southampton Road.

Winstanley owns and operates 12.5 million square feet of commercial real estate and is one of the largest local landlords of commercial properties in New England. The company believes its local presence and commitment to listening to the community is bolstered by the national experience of NorthPoint Development.

Established in 2012, NorthPoint is a privately held real-estate operating company specializing in developing, acquiring, leasing, and managing class-A industrial and multi-family properties. It currently has a 150.2-million-square-foot industrial portfolio, about 5,400 multi-family units developed and managed, and $19.5 billion in assets under management.

The project team supporting NorthPoint Development and Winstanley Enterprises on Falcon Landing includes Epsilon Associates, VHB, Good Earth Advisors, and Watkins Strategies.

Wealth Management

Why the Assignment Is Best Left to a Professional

By Linda Dagilus, Steve Hamlin, and Janice Ward

 

Linda Dagilus

Linda Dagilus

Steve Hamlin

Steve Hamlin

Janice Ward

Janice Ward

Years ago, they might have been known as an executor or, in the case of a woman, an executrix. And you still hear those terms occasionally.

But today, the phrase commonly used in reference to an individual handling someone else’s estate is ‘personal representative.’ And while the title may have changed, the responsibilities haven’t. They are significant, and there may actually be more of them today — a list that includes everything from the administration of a will to the handling of funeral arrangements; from preparing a final accounting and tax return to selling an estate; from investigating all claims against an estate and handling them accordingly to, yes, finding a home, or homes, for the pets of the deceased.

This broad and imposing range of responsibilities explains why those with estates, and especially large estates or those with complex assets, should think carefully about whom they choose to be their personal representative to administer their estate after they pass.

While family members have historically handled these duties, increasingly individuals are leaving these matters to third-party professionals, specifically trust officers — and for very good reasons. The most basic is the often-uncomfortable reality that settling an estate can be an unsettling experience, one that can potentially damage and destroy personal family relationships and result in mistakes that a professional might otherwise avoid.

But there are many reasons why individuals are increasingly looking to professionals to be personal representatives. First, they may not have family to turn to, or family they would consider qualified. Indeed, this is a considerable amount of work, some of it complex in nature, to put on someone who is not an expert in this area and has never done it before.

“Those with estates, and especially large estates or those with complex assets, should think carefully about whom they choose to be their personal representative to administer their estate after they pass.”

Also, many people simply don’t want to saddle a loved one with all that responsibility, especially at what will likely be a difficult time for them emotionally and when they are also likely juggling many other aspects of life and work. Additionally, choosing one family member over another to be your personal representative can often lead to conflict with the family member(s) not chosen.

Many of those turning to professionals, such as the Estate Settlement team within Greenfield Savings Bank Wealth Management and Trust Services, are recently divorced or surviving spouses who have found themselves suddenly in charge of their household’s financial savings and investments that had previously been handled primarily by their spouse.

The full list of responsibilities handled by a personal representative helps explain why it is best left to a professional and not a family member. It starts with pets, especially when there is no one else living with the recently deceased individual, but also includes everything from getting mail stopped and forwarded to a new address to securing the property to changing the locks and shutting off the water.

But it quickly proceeds to other, more complex financial matters that include:

• Entering the will into probate and assuring that all legal requirements of the settlement process are completed;

• Accounting for all personal property and arranging for the support of the family;

• Collecting all life insurance, rents, and other amounts due;

• Obtaining appraisals of the property for required tax purposes;

• Preparing a final accounting of the estate; and

• Distributing the estate as directed by the will.

While choosing a family member may seem logical and respectful, and some family members may actually volunteer for this work, most individuals are not fully qualified to handle such duties, and even if they are, they would often be placed in a difficult situation where relationships can become strained and matters can be delayed.

There is often a perception of unfairness if one family member is making all the decisions that affect the personal finances and tax consequences of each beneficiary. For example, is this individual liquidating all the assets — which might cause significant capital gains to family members who pay high tax rates — and are those decisions equally fair and appropriate for all affected parties?

It is a fact: estate administration is complicated and time-consuming. Money can, and often does, complicate relationships. Money can make people do things they wouldn’t ordinarily do. Money can breed distrust — and worse.

And that’s why the work of a personal representative is best left to a professional.

 

Linda M. Dagilus, vice president and trust officer, has more than 25 years of experience in the financial-services industry. Stephen B. Hamlin, CTFA, senior vice president and senior trust officer, is a certified trust and fiduciary advisor with more than 35 years of experience in trust banking and investment management. Janice E. Ward, Esq., CFP, first vice president and trust officer, is an attorney and certified financial planner with more than 20 years of experience in trust banking and wealth management.

 

Wealth Management

Securing the Future

By Patricia M. Matty, AIF

 

With the Secure Act 1.0 of 2019 and the updated Secure Act 2.0, which went into effect in 2023, there have been many important changes to the rules and regulations for retirement saving and investing over the past five years.

While the elimination of the ‘stretch IRA’ was a key feature of the first Secure Act, the update provides many enhancements for investors. (The so-called stretch IRA refers to leaving an IRA to a non-spouse beneficiary who could then ‘stretch’ distributions from the IRA over their lifetime, thus enhancing the tax-deferral feature of the IRA.)

As financial planners, one of our goals is to help clients save as much as possible for retirement in the most tax-efficient manner. This usually involves maxing out retirement-plan contributions (workplace plans like the 401(k) and 403(b), as well as IRAs), as well as deferring the income associated with retirement-plan withdrawals as long as possible.

“As planners, these changes often prompt investigating alternative ways to pass on wealth earlier to heirs, including layering in additional diversification with investments spread between retirement accounts, Roth IRA/401(k) plans, and non-retirement assets.”

Some key changes associated with these goals are summarized as follows:

• Starting in 2025, the workplace ‘catch-up’ contribution for individuals ages 60-63 will increase to $10,000 per year (from $7,500). The IRA catch-up contribution, which is now set at $1,000, will be indexed to inflation starting in 2024. For high-income earners, 2026 will see a change that restricts catch-up contributions in workplace plans to a Roth account in after-tax dollars.

• RMDs (required minimum distributions) from retirement accounts start at age 73, thanks to the Secure Act 2.0. Starting in 2033, this will increase to age 75. For retirees that have sufficient income and assets in non-retirement accounts, delaying RMDs as long as possible is generally preferred.

• The penalty for not taking your RMD decreased to 25% from 50% (of the RMD amount). This penalty will decrease to 10% if the IRA owner withdraws the RMD and files a corrected tax return in a timely manner. While these penalties are quite rare in our experience, the previous 50% rate was severe and too punitive.

Younger workers and their priorities also received some beneficial changes to the rules and regulations:

• Starting in 2025, businesses adopting new 401(k) and 403(b) plans must automatically enroll eligible employees at a contribution rate of at least 3%. We’ve found that inertia is the enemy when it comes to saving for retirement. Getting younger workers started on the habit of saving and investing is critical to reaping the benefits of tax-deferred growth over the long term.

• Student-loan debt and payments are often cited as a reason for not contributing to a workplace retirement plan. Starting in 2024, employers will be able to match employee student-loan payments with matching payments to a retirement account.

• For 529 college savings plans that have been open for at least 15 years, ‘unspent’ plan assets can be rolled over into a Roth IRA for the beneficiary (subject to a lifetime limit of $35,000).

These selected highlights represent a small sample of the changes brought about by Secure Act 2.0. On balance, we believe the changes provide enhancements to the ability of investors and savers to provide for a prosperous retirement.

As planners, these changes often prompt investigating alternative ways to pass on wealth earlier to heirs, including layering in additional diversification with investments spread between retirement accounts, Roth IRA/401(k) plans, and non-retirement assets.

Eliminating the stretch IRA is inducing non-spouse beneficiaries to take mandatory distributions out over a five- or 10-year period versus over their lifetimes. This can significantly increase the beneficiary’s tax bracket, which may not have been the intention of the financial/estate plan.

Here are just a few options your financial planner can help you look at to navigate these changes:

• Depending upon your own personal tax bracket, you may want to take larger IRA distributions and gift funds to your children before you pass.

• Convert pre-tax retirement assets to Roth IRAs.

• Diversify your savings between qualified and non-qualified accounts.

• If you give to charities, you can donate directly from your retirement accounts once you hit age 70. These gifts and distributions are tax-free to you and have zero tax implications on your income

• Take larger retirement-plan distributions (speak with your accountant and your financial advisor first to ensure this may be a good option, as taking larger distributions may also impact your Medicare premiums), and make annual gifts to your children while you are alive. If you are married, you have a higher AGI than if you are single in later years.

As is always the case, consult your financial professional or tax preparer to see how the changes in the Secure Act 2.0 affect your individual circumstances. This information is provided for informational purposes only and should not be construed as advice. St. Germain Investment Management does not offer any tax or legal advice.

 

Patricia M. Matty is senior vice president, financial advisor, and financial advisory director for St. Germain Investment Management.

Wealth Management

Stay the Course

By Jeff Liguori

 

One trillion dollars. That number of zeroes, 12 in all, is difficult to comprehend.

But in the world of investing, ‘trillion’ is becoming more common. Market capitalization, computed by multiplying the number of shares outstanding by the current price of that company’s stock, is a standard measure of valuation for a public company. There are currently seven stocks with a valuation that exceeds $900 billion: Microsoft, Apple, NVIDIA, Amazon, Meta (formerly Facebook), Alphabet (formerly Google), and Berkshire Hathaway, in order of size.

The valuation of those seven companies is currently $15.9 trillion in aggregate. At the start of 2020, the valuation of the same seven companies combined was roughly $5.6 trillion, and only two companies — Apple and Microsoft — had exceeded $1 trillion in market capitalization.

We will refer to these seven companies as the ‘Super Seven.’

Jeff Liguori

Jeff Liguori

“Comparing the output of a country to that of a technology company is a fun exercise, and not at all realistic, but it does illustrate the magnitude of these trillion-dollar behemoths.”

In a little more than four years, despite a global pandemic which took the S&P 500 down by nearly 30% in a month, the market cap of the Super Seven has increased by almost 300%, while the S&P 500 has returned almost 74%.

For perspective, the gross domestic product (GDP) of the U.S. is approximately $28 trillion, up from $22 trillion at the end of 2019, an increase of 27%. The U.S. workforce is about 134 million people, which means each worker contributes, on average, $209,000 to annual GDP. In contrast, the Super Seven have a total of 3.06 million employees (Amazon is more than half of that total) and should generate about $2.5 trillion in revenue this year, which equates to $827,000 of output per employee. Employees of the Super Seven contribute 300% more than the average employee in the U.S. contributes to our GDP.

If Microsoft was a country, it would be the sixth-largest in the world, slightly smaller than the GDP of India but larger than that of the United Kingdom. Apple would be the eighth-largest, in between the economies of France and Russia. If the two companies merged to form the country of Microapple, it would be the third-largest economy at nearly $6 trillion dollars, with fewer than 400,000 residents.

OK, maybe these are not fair comparisons.

Other than Berkshire Hathaway, the seven companies are technology-focused, which by their nature require fewer workers because the businesses are highly efficient. The U.S. economy is dominated by service jobs, and approximately 80 million of the 134 million employed are paid hourly. Comparing the output of a country to that of a technology company is a fun exercise, and not at all realistic, but it does illustrate the magnitude of these trillion-dollar behemoths.

What can this top-heavy market indicate about future returns? Jason Goepfert of Sundial Capital Research, which uses huge data sets to help frame market direction, looked at the performance of equally weighting the 500 stocks in the index versus the actual performance of the S&P 500, where it is weighted by size, thus dominated by the Super Seven.

In the past three years, the equally weighted index is up 25% versus 36% for the S&P 500. The gap widens further, a 75% versus 98% return, respectively, in the past five years. It is the second-widest spread since 1958. When was the gap higher? In late 1999, as the dot-com bubble was nearing a climax. Some market analysts are concerned that the artificial-intelligence boom, which has fueled growth in these large technology companies, is the new dot-com bubble.

Despite the average stock underperforming the S&P 500 for the past few years, there may be reason for optimism. My firm, Napatree Capital, put out commentary (click here) in October of last year highlighting shares of Target (TGT) as an example of a stock that could play “catch-up” and help fuel the rally. We noted that “shares of Target (TGT) are trading 25%-30% below its historic average valuation, and more than 50% below its peak valuation. The stock is down 27% year to date, after losing 34% of its value in 2022. If such stocks start to rally, it should be healthy for the broader market.”

Since Nov. 1 of last year, the price of Target’s stock has rallied nearly 65%. And it is a similar story for other bellwether stocks such as Citigroup (C), Delta Airlines (DAL), Home Depot (HD), Bank of America (BAC), Disney (DIS), and others, which had dismal performance leading into the third quarter of last year but have since beaten the S&P 500 by a wide margin.

If you’re frustrated by the returns in your portfolio, it implies that you don’t own large positions in a small number of stocks, mostly in the same sector. But stay the course. Prudent investing is built on broad diversification across a range of categories. Owning the underperformers may yield excellent results just yet. Following the tech bubble in 1999, those forgotten, boring, blue-chip-type stocks outperformed their tech brethren for nearly a decade.

Maybe past performance is an indication of future results.

 

Jeff Liguori is the co-founder and chief Investment officer of Napatree Capital, an investment boutique with offices in Longmeadow as well as Providence and Westerly, R.I.; (401) 437-4730.

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Daily News

Myranda Nasworthy

SPRINGFIELD — Garvey Communication Associates Inc. (GCAi) has expanded its digital public-relations capacity by adding Myranda Nasworthy, an experienced video producer. Armed with GCAi’s new G7x vlogging cameras, Nasworthy worked on client videos before she started at the company.

“Myranda’s video-production experience has enabled her to be a quick start on all digital public-relations efforts,” said John Garvey, GCAi’s founder. “Her video and interview skills mean she can effectively work on both sides of the camera.”

Nasworthy will work in GCAi’s new edit suite, including a 2024 Apple Mac Studio. She is also equipped with a 2024 Macbook Pro for remote video editing. She is already working with a new GODOX lighting kit used at GCAi’s 24th-floor studios in Tower Square to produce 10 videos for an award program. Nasworthy shot and worked on all the edits with co-producer Nate Dion. She has also worked with GCAi’s West Coast team to produce 9:16 videos for Reels and TikTok.

A former associate producer of New England Public Media’s Emmy-nominated quiz show, As Schools Match Wits, Nasworthy interviewed celebrities including Keith Lockhart, conductor of the Boston Pops, and Red Sox players Rob Refsnyder and Christian Arroyo.

“I think of video as being PR’s Swiss-army knife, a multi-faceted tool revolutionizing communication,” she said. “Video storytelling has a humanizing effect on corporate communication, evoking empathy and adding emotion. It allows brands to amplify their personality and intentions in a way no other medium can.”

Nasworthy is a summa cum laude graduate of Westfield State University, where she earned a bachelor’s degree in communication with a concentration in media arts & analysis. GCAi currently employs one other graduate of Westfield State’s communication program and has successfully employed others. “Westfield State’s communication program is a wellspring of talent for us,” Garvey said. “We are delighted they are located in the area.”

Nasworthy’s skill set includes operating Sony, Canon, Panasonic, and Nikon filming equipment and studio, control-room, and field equipment. She also is experienced in working with Adobe Premiere Pro, Lightroom, Dreamweaver, and Final Cut Pro.

Daily News

SPRINGFIELD — The World Affairs Council of Western Massachusetts will present an Instant Issues lunchtime discussion event featuring Jeevan Ramapriya, executive director of the Massachusetts Office of International Trade and Investment (MOITI), on Monday, April 29 at noon in the ninth-floor gallery of 1350 Main St. in downtown Springfield.

Ramapriya became executive director of MOITI last July. He was previously a managing director in State Street Global Service’s regulatory, industry, and government-affairs department, where he was responsible for state government relations and public-policy-related activities and provided support for similar efforts in the U.S. Congress, as well as Canada, Europe, the Middle East, Africa, and Asia-Pacific.

Prior to joining State Street, Ramapriya was the deputy chief of staff to former Massachusetts state Sen. Steve Baddour, overseeing the senator’s political operation and policy matters involving transportation, economic development, and public safety. Before entering public service, he worked as a technology and management consultant with Accenture, where he assisted in implementing customer relationship management solutions for Fortune 500 companies.

The cost is $5 for World Affairs Council members without lunch provided, $20 for members with a lunch, $10 for non-members without a lunch, and $25 for non-members with a lunch. Registration deadline for a lunch provided is Thursday, April 25. To register or for more information, visit wacwestma.org or call (413) 733-0110.

The Instant Issues series is sponsored by M&T Bank, Wilbraham & Monson Academy, and Sir Speedy, with thanks to NAI Plotkin.