Daily News

UNCASVILLE, Conn. — Human resource professionals from across New England will gather on April 20-22 for the 2026 Tri-State SHRM Conference, a professional development event hosted at Mohegan Sun Resort & Casino in Uncasville, Conn. The conference theme — “Balancing Acts & Bold Moves: The Future of HR Starts Here!” — invites HR leaders to explore innovative ideas and strategies shaping the future of the workplace.

Known as one of the region’s most dynamic HR events, the Tri-State SHRM Conference brings together hundreds of HR professionals for two and a half days of learning, networking, and inspiration. Attendees will engage in expert-led sessions, connect with industry partners, and explore emerging tools and solutions designed to help organizations succeed in today’s evolving workplace.

The 2026 conference will feature educational sessions led by experienced HR practitioners and thought leaders covering key topics such as leadership, talent management, workplace culture, compliance, and the future of work. Participants will also have opportunities to build meaningful connections through networking events and visit the exhibition hall to discover innovative HR products and services.

The conference welcomes HR professionals at all career stages, from emerging practitioners to seasoned executives, along with business leaders and service providers who support the HR community. SHRM members and members of affiliated chapters may receive special registration discounts.

The Tri-State SHRM Conference is a collaborative effort of regional SHRM organizations dedicated to advancing the HR profession through education, professional development, and community engagement.

Registration is now open. For full conference details, speaker information, and registration, visit www.tristateshrm.com.

Daily News

SPRINGFIELD — The Zoo in Forest Park will host its annual Eggstravaganza, presented by M&T Bank, on Saturday, April 4 from 10 a.m. to 2:30 p.m.

The family-friendly event invites children to hop along the Bunny Trail, collecting prize-filled Easter eggs and other goodies. There will also be crafts and coloring pages, face painting, a scavenger hunt, animal encounters, and a chance to meet the Easter Bunny.

Link to Libraries, a nonprofit organization whose mission is to distribute new books to the school and home libraries of children in need, will be handing out free books to every child at the event.

“We are so excited to kick off our 2026 season with our most popular event,” said Gabry Tyson, assistant executive director of the Zoo in Forest Park. “Eggstravaganza is the perfect way to shake off the winter blues and welcome back spring.”

Pre-registration is required to attend the event. Registration closes April 3 at noon or when all tickets are sold. Tickets cost $13 for adults, $8 for children, and $9 for seniors, and are available at www.forestparkzoo.org/eggstravaganza. Discounts are available for Zoo members.

Kids are encouraged to bring a bag to collect prizes. In the event of severe weather, Eggstravaganza will be moved to Sunday, April 5. If the rain date is not utilized, the Zoo will be open to the public on April 5 from 10 a.m. to 4 p.m.

The Zoo in Forest Park officially opens to the public on Saturday, March 28, and will initially be open weekends only from 10 a.m. to 4 p.m., with last admission at 3:30 p.m. The Zoo will be open daily for both Connecticut and Massachusetts spring vacation weeks, April 11 to April 26. After Mother’s Day, the Zoo will move to its full, daily operating schedule.

Daily News

Ashik Mubarak

CHICOPEE — Caolo & Bieniek Associates Inc. announced that Ashik Mubarak has officially passed all of his architectural exams and is now a registered architect, awaiting the arrival of his license.

“We are proud to announce that Ashik has successfully passed his final architectural registration exam,” the firm stated. “This significant achievement marks the culmination of years of dedicated study, professional experience, and commitment to excellence in design. Ashik represents the next generation of architectural talent, bringing creativity, technical expertise, and fresh perspective to our team. We congratulate him on this outstanding accomplishment and look forward to his continued contributions to our projects and the communities we serve.”

Daily News

SPRINGFIELDBusinessWest is accepting nominations for its 12th annual 40 Under Forty Alumni Achievement Award. Nominations are due by Thursday, April 9. They can be submitted by clicking here.

The Alumni Achievement Award finalists will be profiled in BusinessWest, and the winner will be announced at the 40 Under Forty awards gala, presented by PeoplesBank, on Thursday, June 11 at the MassMutual Center in Springfield.

BusinessWest launched its 40 Under Forty program in 2007 to identify and celebrate rising stars across our region who are excelling in business and involved in the community. Launched in 2015, the Alumni Achievement Award was created to honor the 40 Under Forty honorees who have most impressively continued and built upon their track records of accomplishment. Nominators help BusinessWest find the best of the best.

For more information, visit businesswest.com/40-under-forty/alumniachievementaward or contact Natasha Mercado-Santana, Marketing and Events Manager, at (413) 781-8600, ext. 100, or [email protected].

Daily News

SPRINGFIELD — Springfield Technical Community College (STCC) will host its fourth annual International Women’s Day celebration on Wednesday, March 25 from 11 a.m. to 2 p.m., bringing together students, faculty, staff, and community members for an afternoon of inspiration, connection, and empowerment.

This year’s celebration features a panel discussion titled “The Power of Giving: Women, Growth, and Collective Gain” and aligns with the broader International Women’s Day message of “Give to Gain.”

Panelists include Sharay Salters, lead program alumna, former peer mentor, and STCC student body president for the class of 2025; Samantha Hamilton, director of Coalition Building and Community Engagement at the Public Health Institute of Western Massachusetts and co-founder of A Queen’s Narrative; and Nikai Fondon Bannister, CEO and founder of Evolve Her Enterprises. These leaders from diverse backgrounds will share their experiences and perspectives on mentorship, leadership, and giving back, and how these practices contribute to individual growth and collective success.

The event — which will highlight the achievements and contributions of local women leaders while fostering a strong sense of unity, encouragement, and support throughout the community — is presented by the Lead Female Leadership & Mentoring Program, which offers female-identifying students inclusive and holistic academic support, mentoring, leadership development, and community engagement opportunities.

“International Women’s Day at STCC is about celebrating the incredible strength, leadership, and generosity of women in our community,” said Darcey Kemp, vice president of Student Affairs at STCC. “Through programs like Lead and events such as this, we are creating spaces where students feel supported, empowered, and connected.”

The celebration will feature local women-owned business vendors, networking opportunities, community leadership awards, and a catered lunch.

The event will take place in the STCC Gymnasium, Building 2, first floor. For more information or to register, visit stcc.io/thepowerofgiving.

Daily News

NORTHAMPTON — The Applied Mortgage Team of HMA Mortgage announced that Lindsay Barron LaBonte, branch manager and senior loan officer of the Applied Mortgage team, will be honored with the Peter V. Kocot Community Service Award from the Northampton St. Patrick’s Assoc. at its award ceremony this month.

This recognition celebrates a chosen person who has distinguished himself or herself through substantial community service contributions in Western Mass. The ceremony will take place on Friday, March 13 at 7 a.m. at Hotel Northampton, 36 King St., Northampton.

The Peter V. Kocot Community Service Award honors the legacy of the late, former state representative’s unwavering commitment to community, education, and local agriculture. During his service, Kocot secured critical funding to help develop Grow Food Northampton’s youth education program, creating opportunities for young people to connect with the land and learn the value of sustainable food systems. His dedication to strengthening both education and agriculture continues to inspire community-centered leadership across Western Mass.

LaBonte is being recognized for her outstanding commitment to community service and local impact. Through her leadership and volunteer efforts across Western Mass., she has consistently invested her time, resources, and voice in initiatives that strengthen families and expand opportunity. Her dedication reflects the spirit of the award: uplifting others, building meaningful partnerships, and creating lasting change in the communities she proudly serves.

“Receiving the Peter V. Kocot Community Service Award from the Northampton St. Patrick’s Association is an honor. Peter’s leadership and loss left a lasting mark on our community, and I remember clearly how profound that impact was on me as a young adult,” LaBonte said. “I’m incredibly proud to carry on his legacy and a reminder of the responsibility we all share to show up, lead with heart, and give back to Western Mass. in meaningful ways.”

Daily News

HOLYOKE — The Dowd Agencies, the oldest insurance agency in Massachusetts under continuous family ownership, today announced it is acquiring Royer Camp & Associated Insurance in Newport, Vt.

Founded more than 50 years ago, Royer Camp & Associated Insurance has earned the trust of generations of Vermont and New Hampshire families and businesses by providing highly personalized service and tailored personal and commercial coverage. In keeping with that legacy, the agency will continue to operate under the name Royer Camp & Associated Insurance, a Member of the Dowd Agencies. Local customers will work with the same staff in the same location, with no changes to day-to-day service, policies, points of contact, or coverage.

“Royer Camp is exactly the kind of agency we believe in partnering with. It has deep roots, a reputation for trusted advice, and service delivered by people who live in and care about the community,” said John Dowd Jr., president and CEO of the Dowd Agencies. “We’re here to support what they’ve built and to help ensure that local customers can rely on this team for decades to come.”

By joining the Dowd Agencies, Royer Camp customers will gain access to broader carrier options and expanded resources, while continuing to receive the same relationship-driven service they have always known.

This marks the Dowd Agencies’ second location in Vermont, joining Lonergan & Thomas Insurance in Bennington, and complements its six offices serving communities across Western Mass.

Daily News

SPRINGFIELDBusinessWest, in partnership with Innovate413, presents the StratAI Series, designed to help businesses develop practical AI strategies, smarter operations, and stronger growth. The first event in the series will focus on the manufacturing industry and will take place on Thursday, March 26 from 4:30 to 7 p.m. at the Brian Corridan Center at STCC Technology Park. Click here to register free of charge.

The event will be hosted by BusinessWest, Innovate413, and FORGE, and moderated by Paul Silva, CEO of Innovate413. It will feature a panel of manufacturing experts and breakout workshops.

Food will be provided by the Olde Armory Grille, and beverages will be provided by White Lion Brewing Company. Special guests include state Rep. Orlando Ramos and Aaron Vega, president and CEO of the Western Massachusetts Economic Development Council.

The scheduled panelists are David Arturi, CEO of Tetra, and Vinny LaRocca, CTO of Tetra; John Fazzio, president and COO of Pilot Precision Products LLC; Ben Grande, president of the Western Mass. chapter of the National Tooling and Machining Assoc. and general manager of Meridian Industrial Group; and Ali Usman, founder and CEO of PixelEdge.

Sponsorship opportunities are available. Contact Melissa Hallock at (413) 781-8600, ext. 109, or [email protected] for sponsorship information.

Daily News

GREAT BARRINGTON — MountainOne Insurance Agency Inc. announced the opening of an office at 4 Castle St., Suite 201, in Great Barrington, marking a meaningful expansion of its presence in Southern Berkshire County.

The appointment-only office will be staffed by account executive Dan Blaisdell, providing a local point of connection for clients throughout the Southern Berkshires. Blaisdell specializes in business insurance and brings deep knowledge of the region, along with long-standing relationships built through years of working closely with local organizations and entrepreneurs.

The new Great Barrington office brings MountainOne Insurance closer to the clients it serves across Southern Berkshire County, offering personalized insurance guidance from a trusted local advisor who understands the community and its needs.

“Southern Berkshire County is an important part of the communities we serve, and opening a Great Barrington office allows us to be more present and more accessible,” said Jonathan Denmark, executive vice president of MountainOne Bank and president and chief operating officer of MountainOne Insurance. “Dan’s longstanding relationships and understanding of the region make this a natural step forward.”

Daily News

MONSON — Monson Savings Bank (MSB) announced the recipients of its 2026 President’s Award, the highest honor presented by the bank. This award recognizes employees who exemplify Monson Savings Bank’s mission and values through outstanding customer and community service, exceptional teamwork, professionalism, and unwavering integrity.

This year, two employees have been selected from peer nominations for their extraordinary contributions, leadership, and dedication to the bank and its customers: Melanie Garcia, senior commercial loan administrator; and Terry Poloski, vice president, residential lending officer.

Employed with Monson Savings Bank since November 2013, Garcia has long been a pillar of excellence within the Commercial Lending department. Chosen from 22 nominees in the non-officer/manager category, she received five heartfelt nominations highlighting her expertise, organization, communication skills, and the positive influence she brings to the team.

Colleagues describe Garcia as knowledgeable, humble, and exceptionally dedicated, consistently strengthening customer relationships and enhancing the bank’s reputation. Her commitment to her role, her team, and the bank’s partners is both remarkable and inspiring.

Since joining Monson Savings Bank in December 2011, Poloski has been a trusted leader within the Residential Lending department. Selected from 16 nominees in the officer/manager category, she also received five nominations, each recognizing her professionalism, compassion, and significant impact on both customers and colleagues.

Poloski is described as humble, hardworking, an outstanding mentor, and a leader who consistently prioritizes the bank’s success over personal recognition. Her dedication has helped shape the strength and reputation of the bank’s mortgage department and continues to set the standard for exceptional customer care at MSB.

“Melanie and Terry represent the very best of Monson Savings Bank,” said Dan Moriarty, president and CEO. “Their dedication, professionalism, and genuine care for our customers and communities embody the spirit of this award. They lead by example every day, and our organization is stronger because of their contributions. It is an honor to recognize them as our 2026 President’s Award recipients.”

With this recognition, Garcia and Poloski join an esteemed group of President’s Award alumni, including Kevin Hicks, Kate Blackwell, Sara Rodrigues, Paul Shepardson, and Mike Sexton, whose accomplishments continue to shape the legacy and future of Monson Savings Bank.

Daily News

PITTSFIELD — Hand Crafted Catering & Events announced it will hold a ribbon cutting for its café at 26 Dunham Mall, Pittsfield on Wednesday, March 18 at noon, followed by a complimentary light lunch.

Known throughout the region for its ingredient-driven catering and events, Hand Crafted brings the same commitment to locally sourced ingredients and thoughtful preparation to its new weekday lunch concept. The café will feature a fresh, focused menu of sandwiches, salads, toasts, and grain bowls designed for both convenience and quality.

A signature element of the menu is its customizable sandwich experience. Guests select from carefully prepared proteins and finishes, then personalize their sandwich with a variety of house-made spreads, including Calabrian mayo, rocket pesto, garlic aioli, honey mustard, hot honey, and sundried tomato whipped feta. The concept allows guests to build something familiar or create a flavor profile entirely their own.

“Our goal was to create something elevated yet approachable,” owner Justin Carafotes said. “We wanted to offer Pittsfield a lunch option that feels intentional, fresh, and a little bit different.”

The establishment will also offer a rotating breakfast selection of morning offerings, allowing the culinary team flexibility to highlight seasonal ingredients and daily inspiration. The café will operate Monday through Friday from 9 a.m. to 3 p.m.

Community Spotlight

Community Spotlight

Eric Nakajima says he wants to take full advantage of Holyoke’s many assets, including mill space, a business-friendly government, and green energy.

Eric Nakajima says he wants to take full advantage of Holyoke’s many assets, including mill space, a business-friendly government, and green energy.

 

Eric Nakajima recalls that, while earning his master’s degree in city planning from the University of California, Berkeley 25 years ago, one of first assignments in one class was to essentially explain why he was there.

“I said that I wanted to learn how to help communities like Holyoke,” he said, adding that he got to know the city soon after his family moved to Amherst from New Jersey when he was 7 and was later struck by how much the community was impacted by the loss of its manufacturing base. “I named Holyoke all the way out in California; I wanted to understand better how you work with the city, work with the community, work with the markets, work with the business environment you’re in to create jobs and good placemaking.”

And 25 years later, that’s essentially his job description as the new director of Holyoke’s Office of Planning & Economic Development, succeeding Aaron Vega, who is now serving as president and CEO of the Western Massachusetts Economic Development Council.

He arrives in City Hall with a diverse résumé, including roles with the Deval Patrick administration on Beacon Hill, and at an intriguing time for the community, one of progress on several fronts, including housing, downtown revitalization, entrepreneurship, and job creation, but also some setbacks, especially when it comes to what was shaping up to be one of the city’s better economic development stories. That would be Sublime Systems, which had plans to build a plant on Water Street and produce low-carbon cement — plans now on hold after the loss of a large federal grant.

“I named Holyoke all the way out in California; I wanted to understand better how you work with the city, work with the community, work with the markets, work with the business environment you’re in to create jobs and good placemaking.”

When asked about whether those plans might eventually materialize, Holyoke Mayor Joshua Garcia shook his head slowly for emphasis and said, “it certainly doesn’t look like this is going to happen.”

But while Sublime likely won’t be part of the picture in Holyoke, there are plenty of bright spots in the Paper City, including:

• New housing projects in various stages of development, from 700 recently completed units at the former Farr Alpaca mill (and more in phase 2 of that development) to 84 units planned for Open Square, to several smaller projects in and around the downtown area. Add them all up and they make a real dent in the city’s huge need for housing and bring promise to spur new businesses to support those residents;

• A chamber of commerce that is moving on from controversy involving its former president, Jordan Hart, who was terminated just over a year ago and is the subject of a criminal complaint alleging financial misappropriation. Interim Director Lisa Totz said the agency is adding members as well as events to the schedule and, in general, looking for new ways to bring value to its members;

• A utility, Holyoke Gas & Electric, that continues to be a force in economic development by offering clean, comparatively lower cost energy that is bringing attention to the city from different types of businesses, including data centers, which are looking at several possible sites, including the property on Water Street that was due to become Sublime’s new home (more on that later);

• A cannabis sector, spawned by that lower-cost energy and hundreds of thousands of square feet of vacant mill space, that is “holding its own,” said the mayor, despite turbulence in that sector;

• Plans to redo and simplify the city’s zoning and permitting processes to facilitate new business development;

• A massive retail center, the Holyoke Mall at Ingleside, that continues to adjust to changes in the marketplace with a mix of tenants that is shifting increasingly toward the entertainment side of the spectrum, with a massive pickleball facility being the latest addition and a huge Dick’s House of Sport, an immersive facility complete with batting cages, golf simulators, and rock climbing walls, set to open in the spring of 2028;

• A new initiative called Greater Ingleside 2050 that will bring together stakeholders in that area of the city and create a roadmap for what it could look like in the milestone year; and

• Long-term projects such as revitalization of the Victory Theater and a planned sports complex, which, if they become reality, could greatly contribute to the vitality and quality of life in this community of nearly 40,000.

For this latest installment of its Community Spotlight series, BusinessWest takes an in-depth look at the many converging storylines in Holyoke, starting with its new economic development director.

 

Background — Check

Nakajima said that, while he knew a lot about Holyoke before taking the economic development job, there has still been a learning curve, and on many levels.

“I’ve worked with a lot of city halls, but I’ve never worked in a city hall,” he told BusinessWest. “So understanding and navigating city hall has been a challenge itself. I haven’t found it hard, but if you haven’t done it before, there are a set of processes to learn; it’s similar, but distinct from what you have at the state level.”

As noted earlier, he has plenty of experience at the state level, especially during the tenure of former Gov. Deval Patrick.

Pickleball Kingdom opened its doors and its courts just a few months ago at Holyoke Mall.

Pickleball Kingdom opened its doors and its courts just a few months ago at Holyoke Mall.

Indeed, he served the Patrick administration first as senior innovation advisor within the Executive Office of Housing and Economic Development, starting in 2010, and then as assistant secretary for Innovation Policy in that office from 2012 to 2015. During that time, he became involved in several initiatives involving Holyoke, including as project lead for all aspects of developing the Massachusetts Green High Performance Computing Center (MGHPCC).

Before and after his work in the State House, Nakajima has been involved with economic development, especially with Gateway cities, such as Holyoke, on many levels and with many different agencies.

His résumé includes a stint as senior research manager for the Economic Policy Research Unit at the UMass Donahue Institute; a short stint as director of the Massachusetts Broadband Institute, a division of the Massachusetts Technology Collaborative; work as a consultant in economic development policy and planning; and, most recently, as a director of Government Relations for the Massachusetts Teachers Assoc.

“My work with the city then, on behalf of the state, made me fall in love with Holyoke and really believe in the potential of this city.”

This body of work has made him more familiar with Holyoke and the challenges and opportunities it faces, he said, adding that, in addition to his work on the high-performance computing center, he’s been involved with several area Paper City initiatives, from the Lyman Terrace housing project to the introduction of rail service to the redevelopment of the Cubit Building, now home to several market-rate housing units as well as the HCC MGM Culinary Arts Institute.

He said he was drawn to the job in Holyoke’s Office of Planning & Economic Development for the same reasons he listed back at Berkeley, as well as his previous experiences with the city and a desire to build on the momentum that’s been created there in recent years.

“My work with the city then, on behalf of the state, made me fall in love with Holyoke and really believe in the potential of this city,” he said. “I really admire the people that I’ve worked with, many of whom are still around today. It’s what attracted me to come here.”

He said there are several priorities moving forward, including efforts to encourage more housing development, work to redevelop the many vacant or underutilized properties on and around High Street in the downtown area (housing is certainly one of the possible uses), and continued encouragement of entrepreneurship.

As for ongoing work to revamp and simplify zoning and special permit processes, Nakajima said this work isn’t sexy, but it can and will certainly help with economic development efforts.

“This is going to make City Hall easier to deal with, and it will advertise the fact that we are open for business in ways that we’ve always said we were, but now it’s going to feel like it when people come here and knock on the door and work through the process,” he said. “It’s a very big deal.”

As for housing, Garcia said the city will work to encourage not only more development, but housing across a broad spectrum, including market-rate units, such as those planned for Open Square, which could serve to keep people in Holyoke.

Holyoke Mall is evolving, with entertainment-related facilities now accounting for roughly 30% of its space, compared with 10% just a decade ago.

Holyoke Mall is evolving, with entertainment-related facilities now accounting for roughly 30% of its space, compared with 10% just a decade ago.

“Holyoke has traditionally done very well with making sure we looked out for our most vulnerable populations, but we never really thought about what happens when people’s circumstances improve,” he explained. “Currently, we have a system where you start here, you get on your feet, and once you do well, you leave. We’re still going to support affordable, workhouse housing, because that’s important, but we want to introduce market-rate housing much more aggressively into that portfolio.”

 

Getting Down to Business

Nakajima said he also plans to take full advantage of the city’s many assets moving forward. These include that aforementioned mill space, which can be converted for many different uses; a city government bent on being business-friendly; and green — and comparatively cheap — energy.

That last item on the list has certainly helped with economic development efforts, especially in recent years, as companies continue to seek green energy alternatives, said Jim Lavelle, general manager of HG&E, adding that this asset certainly caught the attention of cannabis growers.

And, more recently, it has drawn attention from developers looking to build data centers, he said, adding that the city has the land — including the site Sublime had targeted — and the capacity to attract such facilities.

Still, there is concern about the high energy and water usage of AI data centers and also about large amounts of real estate being absorbed for comparatively few jobs, said Lavelle, noting that a proposal was introduced recently to amend the city’s zoning ordinance to effectively ban data centers in the city.

The proposal was under discussion of the ordinance committee and continued until later this spring, he noted, adding that, while there are concerns about such facilities, privately operated data centers do bring some jobs and needed tax revenue.

“Some of the inquiries we’re fielding are for facilities in the 50- to 60-megawatt realm,” he said, adding that, for perspective, the MGHPCC is a 5-megawatt facility.

The HG&E could handle one or even a few of these larger facilities through expansion of its substations, said Lavelle, adding quickly that one 60-megawatt data center would nearly double its current peak summertime load of 75 megawatts.

Holyoke at a Glance

Year Incorporated: 1786
Population: 38,238
Area: 22.8 square miles
County: Hampden
Residential Tax Rate: $17.43
Commercial Tax Rate: $38.15
Median Household Income: $37,954
Median Family Income: $46,940
Type of Government: Mayor, City Council
Largest Employers: Holyoke Medical Center, Holyoke Community College, ISO New England Inc., PeoplesBank, Universal Plastics, Marox Corp.
* Latest information available

And while the city looks to build on its business base, its chamber of commerce continues work to rebuild its image and its core of services and move on from the recent controversy, while remaining in its long-time home on High Street.

“We’re being resilient and adaptive,” said Totz, a business consultant by trade who was working in the Holyoke chamber office providing support to small businesses and, because of her familiarity with the office and its members, stepped into the interim director role.

She used the massive conference room table that used to dominate the chamber’s offices — recently gifted to City Hall — as a symbolic example of all this.

“Now, I have eight tables that I can configure into a classroom, a giant table, a seminar space; I can tuck them away in the corner and actually have an open room … we can now do things that were impossible to do with that giant table in there.”

Resilient and adaptive will be the watchwords moving forward, Totz went on, as the chamber continues to rebuild, add members, and bring value to those members through traditional programming, such as its recent St. Patrick’s Day breakfast at the Log Cabin, and new initiatives, such as those now possible in its remodeled office.

“I want people to see that we’re forward-thinking, we’re supportive, we’re looking back at the history with respect and lessons learned, but we’re trying to bridge from where we’ve been to where we can be,” she told BusinessWest, adding that this work is ongoing.

 

What’s in Store?

When asked to speculate on the course of retail in the years to come, Lynn Gray, general manager of the Holyoke Mall, said she couldn’t project too far into the future, and for good reason. Indeed, the scene is changing rapidly — and constantly — as recent additions to the mix attest.

“I certainly didn’t have pickleball on my bingo card two years ago,” she said with a laugh, adding that Pickleball Kingdom, which opened its doors and its courts just a few months ago, now occupies roughly 50,000 square feet at the mall that was most recently home to Bob’s Discount Furniture and is already drawing members at a steady clip.

Its emergence is a sign of the times and the movement toward entertainment-related facilities — which now account for roughly 30% of the space in the mall, compared with 10% just a decade ago — as well as the pace of the change and difficulty with pinpointing just what will come next, said Gray, adding that the present tense is keeping her busy enough.

That includes buildout for the new Dick’s House of Sport, a facility that blends retail and entertainment, putting it in a category all its own, one Gray called “experiential retail.” This is a massive undertaking — as that two-and-a-half-year timeline indicates — that will include essentially lopping roughly 50,000 feet off the old Sears building at the mall to fit the retailer’s needs and creating an elaborate new entrance.

“We’re really excited about this development,” she said, adding that, when it opens its doors, the new Dick’s should become a huge draw, one that, like Pickleball Kingdom, will bring in people to help support retail businesses and a changing mix of restaurants, and attract more of both — especially the latter.

“We’re working with a few local and regional restaurateurs to bring their flavors to our shopping center, and with the news of Pickleball Kingdom being open and how it’s bringing in additional foot traffic, and with the news of Dick’s House of Sport, I believe we’ll be able to attract some new dining options for our shoppers,” Gray said.

Meanwhile, she is encouraged by statistics showing that the younger generations prefer in-store retail as opposed to online shopping, which bodes well for the retail side of the spectrum, which “remains our life’s blood,” she said.

While the mall continues to evolve, so does the larger Ingleside area, which extends in both directions from the mall, south to the West Springfield line and north along Whiting Farms Road. The area has seen change and new additions in recent years especially, and Greater Ingleside 2050 will focus on creating a long-term vision for the area and a blueprint for making that vision reality.

Garcia noted that, while the mall dominates the area, there are many smaller players that add to the overall vibrancy, and there is opportunity for additional, complementary development.

“We’ve been so focused on downtown, and for good reasons,” he added, “but we want to put our heads together and make sure we don’t neglect another important part of town that has had, and continues to have, potential for growth in the commercial, economic development space.”

Breweries & Wineries

Brews, Tunes, and Dogs

Rachel Rosenbloom says plenty of regulars come to Seven Railroads Brewing Co. for the beer, the fun, and the community connections.

Rachel Rosenbloom says plenty of regulars come to Seven Railroads Brewing Co. for the beer, the fun, and the community connections.

When Rachel Rosenbloom and Michael Bedrosian thought about what customers might enjoy in a brewery, they considered the sorts of things they liked — from music to dogs to good old-fashioned conversation.

“We wanted there to be something else to do besides just going somewhere and drinking or having a meal — something fun to do,” Rosenbloom said of the environment at Seven Railroads Brewing Co., which the married couple opened two years ago in Palmer. “My biggest goal here was to make it comfortable, like a community, like you were coming and hanging out at my house — just something to help connect a lot of the people that live in the area that wouldn’t necessarily meet each other.

“I have a lot of regulars, and they’ve all become friends, and they do things together now. It’s been really cool to see that from the other side, seeing all the connections that have been made,” she went on. “It happens all the time. It’ll be someone’s first time here; they’ll sit at the bar, and they’ll strike up a conversation with one of my regulars that sits next to them. And they’ll end up being here for a couple hours, and they’ll be talking to everybody in a big group: ‘oh, a new guy — let’s make him feel welcome.’”

Then there’s the music scene at Seven Railroads, which includes live music every weekend and an open mic night every Thursday that has become very popular, thanks partly to a small cadre of musicians who show up to give brave singers something more than a pre-recorded backing track.

“There’s a drummer that comes every week, and he’ll drum for anybody. There’s a bassist that comes in every week, and he’ll play bass for anybody. And there’s a guitarist that comes most weeks, and he’ll join in and back people up,” Rosenbloom said. “When somebody wants to come sing, they’ll tell them what song they want to sing, and most of the time, they’ll either know it, or they can figure it out.

“We wanted there to be something else to do besides just going somewhere and drinking or having a meal — something fun to do.”

“Everybody’s really happy and welcoming,” she went on. “It was every other week last year, and after the last one at the end of the year, I announced that I was making it every week this year, and the whole room started applauding, so they were all very happy about that.”

For vinyl enthusiasts, Rosenbloom also hosts a record sale event every other month, with four or five vendors setting up shop while she plays (and sells) music from her own collection. “I have the whole list printed out so people can look through and choose something, or just listen to what I have. My collection is over 900, so they’ll never hear the same album twice.”

In other events, the brewery also hosts yoga — led by Ashley Bousquet of Beyond Yoga & Wellness, who specializes in Yin yoga and Vinyasa flow — the first Sunday of every month, as well as other fun wellness events, like Pilates and yoga with goats or puppies or pigs and bunnies. “They’re just wandering around being cute while people are doing yoga,” Rosenbloom said.

Which brings us to the dogs.

“We’re actually known as one of the most dog-friendly breweries in the area,” she noted. “I have a lot of regular dogs. A lot of people come in, and I know their dog’s name, but not their name.”

The owner of two beagles — one of them a rescue — she hosts fundraisers for Happy Life Beagle Rescue on their birthdays, and this past December, patrons could get their dog’s picture taken with the Grinch in exchange for a donation to the rescue. “For two hours solid, dogs were rolling in from all over.”

A truly dog-friendly establishment, Seven Railroads has a wall full of photos of patrons’ best friends.

A truly dog-friendly establishment, Seven Railroads has a wall full of photos of patrons’ best friends.

In addition, she sells dog biscuits made by Tori’s Pet Services in Southwick. “She takes my spent grain from when I’m done brewing, and she makes dog treats out of it. I sell those here in the tavern, and I go through about a hundred a month.”

It’s just another way Seven Railroads emphasizes community and connection.

“You can see I don’t have a big-screen TV or anything else like that,” she said. “It’s all about sitting down and having a conversation with the person sitting next to you. And it’s just comfortable. You come in here, and it’s just like you’re hanging out at my house.”

 

A Taste for Brewing

Rosenbloom and Bedrosian’s journey into the brewing business began when he was in the Air National Guard.

“At one point, he was sent to Alaska, and there was a beer that he was drinking over there that he really liked. And when he came back here, they didn’t distribute in the continental U.S., and he was like, ‘why don’t we just try making it? Like, this seems like something fun that we could do,’” she recalled. “So we ordered a kit online and made a five-gallon batch in our one-bedroom apartment on the kitchen stovetop. That was the first beer we ever brewed.”

That was about 15 years ago, Rosenbloom said, “and it kind of sparked something. We really enjoyed the process and just decided to keep doing it and upgrading our equipment along the way and getting more into it.”

When they moved to a house with more space, they were able to make more beer, and started entering home brew competitions (one of which they won, while earning honorable mentions in others).

“We started saying, half-jokingly, ‘maybe one day we’ll open our own brewery,’” she went on, and a few things happened to push them in that direction. She was working for a print marketing group, but took a job with Atlantic Beverage Distributors, a beer, wine, and liquor distributor.

“That got me into the industry, and it was a lot of fun. I enjoyed that job a lot. I got to learn about that part of the industry — the sales part. From there, we just kept entering competitions and meeting more people in the industry. I got to know a lot of the local restaurants and bars and package stores because of that.”

From there, she got a job offer around 2018 to become an assistant brewer with Fort Hill Brewery in Easthampton. That’s where she learned about all the work that goes into brewing, production, selling, and packaging — to the point where she and Bedrosian were ready to set out on their own, opening Seven Railroads in early 2024.

“We’re actually known as one of the most dog-friendly breweries in the area. I have a lot of regular dogs. A lot of people come in, and I know their dog’s name, but not their name.”

They specialize in German lagers and English beers, but also offer IPAs — including their flagship IPA, called Old Exit 8, after the former name of nearby Mass Pike exit 63 — stouts, ales, and more.

“We also have British cask ale. Those are naturally carbonated in a cask or firkin, and you have to pump it out with a beer engine. A lot of people get really excited when they see that we have that.”

She also noted that she and Bedrosian doesn’t get too exotic with flavorings. “It’s kind of a pullback from the way that the industry was going,” she explained. “I get a lot of people that are glad my beer isn’t really gimmicky. I like to say I make beer-flavored beer.”

Seven Railroads distributes to three local package stores and a number of area restaurants, but focuses most of its business on the taproom on Park Street in Palmer. And while the brewery doesn’t prepare food, it sells locally made snacks, brings in food trucks when the weather warms up, and has a partnership with a charcuterie business that shows up for open mic nights and weekend music events.

“Most of my focus is on the beer and the atmosphere,” Rosenbloom said. “It’s been great providing a place for people to come hang out and meet other people in the community. Like I said, the biggest positive for me has been all the friendships that I’ve seen formed from that. There are certain people that will walk in, and the bar will be full of regulars, and they go, ‘Norm!’ That happens a lot here, and it’s awesome.”

 

Home Sweet Home

Breweries everywhere are dealing with a time of contraction in the industry (see the stories on pages 14 and 20 for more on that), but Rosenbloom is happy with the growth and success of Seven Railroads, which she partly attributes to the lack of other breweries in town.

“It helps that there wasn’t anything here. There are a lot of local restaurants and bars, but a brewery is a different sort of atmosphere than a bar. I feel like people go to a brewery with a group of friends to hang out and do stuff, versus going to a bar. It’s a good spot to go on a date or for a night out with your friends.

And for underage patrons, “I sell non-alcoholic beers and sodas here, and they’ll come here when there’s music playing, and it’s a fun night out. Lots of kids come to the yoga, for the animals, or the record sales. Those bring a lot of people in as well.”

In short, Rosenbloom’s dream of a gathering space that feels like home has been well-received in Palmer.

“We’re pretty thrilled — the community has accepted us wholeheartedly. Everyone’s so happy we’re here. The regulars are happy we’re here. It’s still kind of surreal sometimes to look at that. Like, I’ll be in here when the taproom’s full, and I look around and see everybody having a good time, and it’s still like, ‘is this actually happening?’ Because we talked about it for so long, and then we actually managed to pull it off, and it worked.”

Breweries & Wineries

Beer, Family … and Staying Open

By Tanzi Cannon-Eckerle

Tanzi Cannon-Eckerle at the brewery she owns with her husband, Joe Eckerle.

Tanzi Cannon-Eckerle at the brewery she owns with her husband, Joe Eckerle.

I’m Tanzi. Joe is my husband and head brewer. I’m a labor and employment business attorney; he’s a COO and manufacturing engineer. I’m the creative one. He is the executor, the efficiency expert.

About 10 years ago, we added a brewery to our marriage — because we are busy bees and serial entrepreneurs, always full of ideas and wanting something new to do. The marriage is still on tap (more than 21 years now), and so is the beer — and it is good.

We built the brewery with friends, sweat equity, and the simple desire to achieve. You have heard that before, of course. I worked in restaurants and bars from age 15 through college and until our daughter was born, so I know the industry — then went to law school (nothing says ‘new baby energy’ like casebooks and cold coffee).

A year later, I bought Joe a home-brew kit for Father’s Day. As an engineer by training and farmer by birth, I thought he needed something to tinker with. He fell in love, got kicked out of the kitchen and relegated to the backyard, and after a beer trip to Munich, years of tasting, and a Siebel class, friends started taking a second sip and saying, “wait… you made this?” At the same time, I was thinking we have too many beers on tap at the house. That’s when the universe cleared its throat: so, are we doing this, or what?

So, with rave reviews, ‘why not’ thoughts, and a garage full of equipment, we talked a few friends into opening a brewery. We called it Brew Practitioners, because brewing — like law or medicine — isn’t something you master so much as something you practice. The goal was never to be the loudest — just to make beer we’d proudly pour for anyone who walked in.

Our menu philosophy is classic, clean, and simple — right down to naming beers like a box of crayons: White (blonde), Yellow (IPA), Mellow Yellow (NEIPA), Orange (pale), Brown, Black (stout), and Red (West Coast amber). If you want a hazy triple pastry marshmallow whatever, you might be in the wrong building.

Then there’s Pink — that’s mine. It took a year of tweaking and occasional dramatic quitting. People teased, “you can’t make a beer that tastes like a wine cooler!” First, never tell me I can’t. Second: hold my beer. When Pink launched, people traveled from all over New England to get it; the first time I ran out, I was worried about a riot. It’s still surreal — like accidentally starting a small, polite cult.

We also have Green, our practice beer — experiments the patrons decide what works or not. Some notable misses include my jalapeño beer (tasted like pickles) and the lavender beer (“shampoo,” apparently). For the record, Joe has not made any ‘nots.’ Anyway, when it works — when someone takes a sip and does that involuntary “oh wow” — it’s a reminder that brewing is a business and a way of making something that ends up in someone else’s memory.

“What’s the best part? I can give you the practical answers: the process, the recipes, the thrill of fermentation doing exactly what it’s supposed to do. Joe will tell you about systems and consistency, that sweet smell of wort, and the quiet morning alone time in the brewery. But the truth is: it’s the people.”

The brewery became our family’s rhythm. Our daughter was basically raised there. She played her first live music set at the brewery. I don’t care how tough you think you are — watching your kid play in a room full of people rooting for her will wreck you in the best way. Our son moved to Massachusetts, worked at the brewery early on, and — 10 years later — is still here with a wife and daughter.

 

Up for the Challenge

What’s the best part? I can give you the practical answers: the process, the recipes, the thrill of fermentation doing exactly what it’s supposed to do. Joe will tell you about systems and consistency, that sweet smell of wort, and the quiet morning alone time in the brewery.

But the truth is: it’s the people. Regulars who feel like friends and who will absolutely show up to meet your new baby pig (Olive — yes, she’s cute), visitors who act like they’ve been coming for years, and employees who become family in a very Hotel California way — you can check out any time you like, but you can never leave. (We say this affectionately, while still texting former staff about life updates and occasionally roping them into “one more shift.”)

Our team members have embraced our customer service, beer quality first mission and our side quests (brew buses and brewery libraries), and bought into our “it’s just beer” motto — our version of “don’t worry; be happy!” We always wanted more than a beer business — we built a community living room. And when times were tough, like through the pandemic, our community was there to help us with the next chapter.

When Northampton shut us down during COVID, we packed up, made fast decisions, and moved to East Longmeadow — exhausting and surreal. We brought the birdcage chandeliers, hand-painted the harlequin floor (Joe says he’s happy our marriage survived that), and poured the concrete that supports the patio we call the Beertanical Gardens — yes, the one from Joe’s “Beer of the Week” skits. It turned out lovely — the community welcomed us with open arms and full pints and thoughts of sugarplums, which has been great for a while.

But then things changed, as they do. What worked in year two or five doesn’t automatically work in year 10 (going on 11). We must always watch the dials, and the new math is real — more competition and fewer people drinking beer at all.

People are watching calories, budgets, phone screens, and kids’ schedules — just not the bottom of a pint glass the way they used to (good for their sleep numbers, not good for my budget numbers). Some weekends still roar; other nights are quiet enough to make you want to ask the chairs if they’re OK. Common sense tells us this is not sustainable. A decade ago, opening a brewery was the event; now you have to create events (more costs) and be interesting on a Wednesday.

Meanwhile, costs keep rising: malt and hops, CO2, cans, chemicals, utilities, insurance, repairs, labor — surprise expenses that arrive like uninvited relatives. Breweries are equipment-heavy manufacturing businesses with hospitality hours — so we get hit from both sides. Fermenters still need cleaning and maintenance when traffic is down, and a bad weather month can ruin the budget. Add licensing, record keeping, safety, compliance (said with love, from your resident business attorney), and the margins get fragile fast. Plus, we want to pay people fairly (they deserve it), but a taproom can’t run on love and good vibes.

If you’re thinking, “just raise prices,” I hear you — and I wish it were that simple. But pint prices have a ceiling, and we’ve always tried to keep Brew Practitioners accessible.

On the upside, we’re not out of ideas. We can tighten operations (less SKU creep, smarter brewing so cash isn’t stuck in tanks), match hours and staffing to real traffic, protect margins while keeping the beer classic and clean, and maintain old standbys (trivia, open mic, themed releases). Partnerships help, too — food trucks, local restaurants, and local vendor pop-ups. But if we build it, will they come?

We also have to get serious about tracking numbers (traffic, labor efficiency, margins), get ruthless about waste, review costs, and push vendor terms where we can. We’re exploring private events, pickleball courts, classic car nights, using the patio like the asset it is, with more planned Beertanical Garden days and community and movie nights. But, again, if we build it, will they come?

“Underneath this is the big question: are we optimizing for survival, growth, or a graceful landing? Those are three different plans. And part of being practitioners is knowing when a case is worth taking — and when it’s wiser to settle.”

The thing is: between Joe’s COO/manufacturing engineer brain and my business attorney brain, we’re not allergic to reality. We understand process, cash flow, risk, compliance, and what happens when you ignore small problems until they get expensive. You can run tight operations and still get clipped by uncontrollables: a slow season, a cost spike, bad weather, or a cultural shift that makes the whole beer category feel like it has to reintroduce itself.

 

Looking Down the Road

Underneath this is the big question: are we optimizing for survival, growth, or a graceful landing? Those are three different plans. And part of being practitioners is knowing when a case is worth taking — and when it’s wiser to settle.

We have grandkids in three different states, and time is suddenly our most expensive input. I also have my beloved law firm — General Counsel by Cannon, PLLC — that’s grown quickly and requires my full attention. There’s only so much bandwidth for day jobs, night jobs, weekend jobs, and the kind of ownership that lives in your head even when you’re not there.

Which brings me to this: maybe this expedition is ending. That sentence actually hurt my heart to write. Brew Practitioners shaped our last decade, introduced us to most of our friends, and held more ordinary and extraordinary moments than I can list. But love, nostalgia, and great beer don’t automatically fix industry headwinds.

What if we hop aboard the love boat and leave this brew joint behind? We will be sad — but, like Brad Pitt in Legends of the Fall, “it will be a good death.” Our brewery practice has been the rare kind of success you can’t spreadsheet: building something from scratch, raising kids in the rhythm of real work, hiring people we still call family, and becoming a place where birthdays, breakups, engagements, open mic nights, and random cornhole tournaments happened under one roof. Lately, ‘practice’ has also meant practicing realism—looking at the numbers, the market, our energy, and what we want next.

Anyway, it’s just beer.

For the record: if we ever step back, I’m walking away with my Pink Beer trade secret tucked safely in my pocket — because a girl deserves options, and I’ve learned never to underestimate the power of a well-timed, wildly pink comeback. Barbie did it.

For now, though, the taps are still working. So come by — belly up, grab a pint, say hello. We are still here, and so is Olive. What’s next is somewhat up to you. If we build it, will you come?

 

Tanzi Cannon-Eckerle and Joe Eckerle are the owner-operators of Brew Practitioners, located at 45 Baldwin St., East Longmeadow.

Women in Businesss

Women in the Workplace

 

McKinsey & Company and leanin.org recently released the 11th annual Women in the Workplace report, the largest and most comprehensive study on the state of women in corporate America and Canada.

This year, only half of companies are prioritizing women’s career advancement, part of a several-year trend in declining commitment to gender diversity. And for the first time, women are less interested than men in being promoted.

These are addressable issues, the report notes. When women receive the same career support that men do — sponsorship, manager support, and access to stretch opportunities — this gap in ambition to advance falls away. Yet, women at both ends of the pipeline are still held back by less sponsorship and manager advocacy.

Among the findings:

• Only half of companies are prioritizing women’s career advancement, with two-thirds saying diversity is a high priority.

• 54% of companies this year say women’s career advancement is a high priority — and 46% of companies say the same about advancing women of color.

• 21% of companies are giving little or no priority to advancing women — and this number rises to 29% for women of color. This marks a sharp decline in commitment compared to previous years. In 2019, 87% of companies reported gender diversity was a high priority.

• 67% of companies say they place a high priority on diversity — and 84% say the same about inclusion. For reference, in 2021, 90% of companies said that they placed a high priority on diversity and inclusion.

While most companies are maintaining or increasing career development efforts for all employees, some are scaling back staffing and resources dedicated to diversity and inclusion and programs that support women’s career advancement: 25% of companies have reduced remote/hybrid work options, 13% scaled back offering flexible work hours, 13% cut back on career development programs with content for women, and 13% scaled back formal sponsorship programs.

“This year, only half of companies are prioritizing women’s career advancement, part of a several-year trend in declining commitment to gender diversity. And for the first time, women are less interested than men in being promoted.”

For the first time, an ambition gap has emerged — women overall are less interested in being promoted than men. Women and men show equal commitment to their careers and similar motivation to do their best work, yet 80% of women say they want to be promoted to the next level, compared to 86% of men.

This year, the ambition gap is most pronounced at the entry and senior leader levels: 69% of entry-level women want a promotion versus 80% of entry-level men, and 84% of senior-level women want to be promoted versus 92% of senior-level men.

Compared to senior-level men, senior-level women see a steeper path to the top. Senior-level women who don’t want to advance are more likely than men at the same level to say they’ve been passed over for a promotion (women, 18%; men, 12%) and don’t see a realistic path to the top (women, 11%; men, 3%) — factors that may make their next career step seem even further out of reach.

 

An Opportunity Gap

Women early in their careers are far less likely than men to be people managers: only one-third of all entry-level people managers are women. As a result, far more entry-level men are on a path that can lead to promotion.

When entry-level women have the same opportunity to serve as people managers as men at their level, they are equally as likely to want to be promoted.

Career support is alson strongly linked to a desire to advance. When entry- and senior-level women and men have sponsors and receive similar levels of support from managers and more senior colleagues, they are equally enthusiastic about getting promoted to the next level.

For some, personal obligations can make it harder to aspire to the next level. Almost 25% of entry- and senior-level women who don’t want a promotion say that personal obligations make it hard to take on additional work, compared to just 15% of men at these levels.

Comparisons to findings from previous years that show women do significantly more housework. In 2024, women with partners were more than three times as likely as men with partners to be responsible for all or most housework.

“Four in 10 entry-level women have not received a promotion, stretch assignment, or opportunity to participate in leadership or career training in the past two years, compared to three in 10 entry-level men.”

Entry-level women are also starting their careers with less support and fewer opportunities. Compared to entry-level men, they are less likely to have a sponsor or to get promoted. In fact, four in 10 entry-level women have not received a promotion, stretch assignment, or opportunity to participate in leadership or career training in the past two years, compared to three in 10 entry-level men. Entry-level women are also less likely to feel they can push back or take risks, and less likely to feel comfortable disagreeing with others.

Entry-level women also receive less encouragement to use AI, and feel less positive about it. Only 21% receive manager support to use AI tools, compared to 33% of men at the same level. And this support matters: employees who are not encouraged to use AI are less optimistic about its impact. As a result, only 37% of entry-level women believe AI will improve their career prospects, compared to 60% of employees overall.

 

Workplace Fairness and Inclusion

Across the board, employees value bias-free processes, respectful workplaces, and varied perspectives. Around nine in 10 men and women at all career levels agree with the following statements: hiring and promotion processes should be free from bias and favoritism; when employees feel respected and valued, they are motivated to do their best work; and a variety of perspectives leads to better decision making and outcomes.

Yet, early and mid-career women are less likely to believe opportunities are fair: fewer women than men agree that the best opportunities go to the most deserving employees and that all employees receive the support they need to succeed and similar opportunities to advance.

More women in senior leadership are concerned that their gender will hold them back: 29% see their gender as a barrier to getting ahead versus 19% of senior-level men.

Finally, in the past year, employees faced especially high job insecurity and burnout. Many employees report feeling frequently burned out: 42% of women overall versus 41% of men.

Burnout is worse for senior-level women, and Black women are feeling it most. Roughly half of employees — across all levels — have seriously considered leaving their organizations in the past year.

The complete report, including solutions that organizations can implement to make meaningful progress toward gender equality, is available at womenintheworkplace.com.

Wealth Management

A Change Underway

By Jeffrey Liguori

 

Human behavior is to become less cautious as markets trend higher. That tendency is fraught with risk, especially as the complexion of the market changes, as it has in the past six months. There is a reason why “past performance is not an indicator of future results” is the most commonly used disclosure in the investment industry.

A shift in market leadership seems to be underway as investor focus branches out from the ‘Magnificent Seven.’ Within this group of primarily technology stocks that helped drive gains in the S&P 500, only Google and Nvidia outperformed the broader market last year, rising 66% and 39%, respectively. Shares of Amazon, Apple, Meta, and Microsoft all lagged, with Amazon the weakest performer, gaining about 5% in 2025.

Sectors that have trailed the market for several years, including healthcare, energy, and financials, may now be emerging as new leaders, potentially overtaking large-cap technology. It is a good time to dig for quality bargains with well-managed cash flow and strong balance sheets.

 

In Small Cap Doses

In the final quarter of 2025, small cap stocks staged a notable advance. From January through the third week of November, the Russell 2000, an index tracking smaller companies, gained just 4.5%, significantly lagging the S&P 500’s 12.3% return. At that point forward, however, small caps began to outperform the broader market by a wide margin.

That strength continued into the first month of 2026, with the Russell 2000 once again significantly outperforming the S&P 500. While this is still a relatively short time frame, the pattern shares similarities with the late 1990s and the subsequent tech boom and bust. Following the bursting of the internet bubble, small cap stocks experienced a substantial run, rising 66% from January 2000 through December 2007, while the market, represented by the S&P 500, returned just 4.4% over the same period.

Jeffrey Liguori

Jeffrey Liguori

“Sectors that have trailed the market for several years, including healthcare, energy, and financials, may now be emerging as new leaders, potentially overtaking large-cap technology.”

Opportunistic Large Cap Plays

As the market enters a phase in which leadership may broaden, there may be opportunities in high-quality companies that have struggled recently, not because their businesses are broken, but because expectations got ahead of reality. When sentiment resets faster than fundamentals, that can be a signal to lean in.

Fiserv Inc. is a classic example of a strong franchise that the market temporarily lost patience with. The company provides mission-critical technology to financial institutions, everything from loan processing and digital banking to payments and commerce. These systems are deeply embedded, which creates high switching costs and very sticky customer relationships.

Last year, the stock was hit hard after an earnings miss and a meaningful reduction in forward guidance in the third quarter. That single event triggered a roughly 45% drop in the share price on top of an already weak year for the stock.

The valuation changed dramatically, while the long-term business outlook didn’t. At around $60 per share, investors are paying a very modest multiple for a company that continues to grow revenue in the mid-single digits and generates substantial free cash flow. As execution improves and confidence returns, the stock could trade back toward $90-$100, which would simply bring it in line with its historical valuation, not an aggressive assumption.

Another company in the opportunistic category is Netflix Inc., which remains the global leader in streaming. Subscriber growth has been steady and substantial from about 220 million five years ago to roughly 325 million today.

The stock has been under pressure amid concerns about strategic expansion in buying Warner Bros. and the potential cost of acquiring premium film and television assets. Large media deals have a mixed history, so it’s understandable that investors are cautious.

“As the market enters a phase in which leadership may broaden, there may be opportunities in high-quality companies that have struggled recently, not because their businesses are broken, but because expectations got ahead of reality. When sentiment resets faster than fundamentals, that can be a signal to lean in.”

Netflix has consistently shown an ability to adapt. The company has reinvented itself multiple times. Management has navigated industry disruption since the company’s founding in 1997.

The current uncertainty creates an opportunity to own a category-defining platform with global scale, strong execution, and strategic optionality at a more reasonable valuation than we’ve seen in recent years.

 

Identifying Upside Amid All-time Highs

A company like Oshkosh Corp., which has performed well recently, may still be undervalued by the market. The company designs and manufactures specialty vehicles for defense, emergency response, and commercial uses, markets with high barriers to entry and long product cycles.

There are two major growth drivers here — first, sustained U.S. defense spending; and second, increased infrastructure and data center buildout, which drives demand for specialized vehicles and equipment.

Valuation is a big part of the appeal here. Oshkosh trades at a significant discount to large industrial peers like Caterpillar and Deere. While they’re not direct competitors, the comparison highlights how inexpensively OSK is valued relative to its fundamentals.

The company has a long operating history, disciplined capital allocation, and a strong commitment to shareholders, including a dividend that has grown 50% over the past five years. Even after recently reaching an all-time high, the stock likely still has meaningful upside.

I am not suggesting that today’s environment represents a technology bubble. However, evidence suggests that a meaningful rotation into areas of the market that investors have overlooked in recent years is unfolding. It is time for small pivots to avoid chasing momentum when the increased volatility can cause crowded trades to unwind fast. A sustained reversal of the technology trend could have important implications for multi-year portfolio returns.

 

Jeffrey Liguori is executive vice president and senior portfolio manager at Bradley Foster & Sargent Inc.

 

Wealth Management

Why Wait?

By Patricia M. Matty, AIF

 

For decades, inheritance was a term associated with the end of a life — a final transfer of assets triggered by a legal will. However, as we move through 2026, a profound shift is occurring. The Great Wealth Transfer, globally, is no longer just a future projection; it is a living phenomenon.

Today’s benefactors are increasingly choosing to give while living, driven by a mix of record-high tax exemptions, economic volatility, and a desire to see their legacy in action.

 

The 2026 Tax Landscape: A ‘Use It or Lose It’ Mentality

The primary driver behind the current heightened awareness is the federal tax environment. Under recent legislative updates, 2026 has introduced historically high exemption limits that have caught the attention of every major wealth manager.

• Lifetime exemptions: As of Jan. 1, 2026, the federal estate and gift tax lifetime exemption has climbed to $15 million per individual (and $30 million for married couples).

• Annual exclusions: The annual gift tax exclusion stays at $19,000 per recipient, allowing individuals to chip away at their taxable estate without even touching their lifetime limit.

• Future uncertainty: While these levels are currently permanent under the One Big Beautiful Bill Act of 2025, there is a lingering ‘use it or lose it’ sentiment. Families are rushing to lock in these high exemptions before potential future shifts in the political or economic climate.

Patricia M. Matty

Patricia M. Matty

“Today’s benefactors are increasingly choosing to give while living, driven by a mix of record-high tax exemptions, economic volatility, and a desire to see their legacy in action.”

The Shift to Living Legacies

Beyond the math of tax brackets, there is a growing psychological trend toward early inheritance. Rather than waiting for a death to trigger a windfall, parents and grandparents are gifting assets now to help the next generation navigate a challenging economic landscape.

• The ‘cushion’ effect: With housing prices and education costs at all-time highs, early gifts are being used to fund first-home down payments, superfund 529 education plans, seed-fund new business ventures, or fund Roth IRAs for children who have earned income and qualify for contributions.

• Test run: Many families are using early gifting as a test run. By transferring smaller portions of wealth now, they can see how the next generation manages assets and provide mentorship before the full transfer occurs.

• Emotional satisfaction: There is an undeniable joy in seeing a grandchild graduate debt-free or a child start a successful company because of a timely gift or helping your children with home cost, so they don’t struggle with so much debt.

 

Strategic Gifting Beyond Cash

The modern awareness of gifting has evolved beyond simple bank transfers. Sophisticated strategies are now common practice. Some ways families are taking advantage of wealth transfers include:

• Making direct medical or tuition payments, which don’t count against the $19,000 annual limits;

• Charitable gifting of appreciated stock now, shifting the appreciated stock from the donor’s estate;

• Utilizing irrevocable trusts to transfer wealth out of one’s estate while being able to control the distributions to heirs; and

• Creating donor-advised funds, also known as DAFs, which provide a way to involve the next generation in philanthropic gifting, making gifts that transfer wealth out of one’s estate.

 

Navigating the Conversation

Despite the financial benefits, not all families address this form of wealth transfer. Some people are aware of the benefits, but a significant portion still avoids the wealth talk. Key considerations for a successful transfer include:

• Transparency: Openly discussing the intent of a gift can prevent sibling rivalry and mismanagement.

• Financial modeling: Before gifting, donors are encouraged to perform rigorous financial modeling to ensure they don’t compromise their own retirement or medical needs.

 

Bottom Line

Estate planning is moving from a legal chore to a family mission to transfer wealth. It’s about what you can build together while you are alive.

The heightened awareness of gifting in 2026 is creating a massive generational transfer of wealth, favorable tax laws, and a cultural shift towards active living philanthropy and building family wealth.

The information included here is intended for educational purposes only. This information should not be considered tax or legal advice. You should discuss your goals and circumstances with a qualified tax planner before making any decisions.

 

Patricia Matty leverages her 25 years of financial industry experience as director of Business Development to foster firm growth and advisor success at St. Germain Investment Management. Her career combines expertise in financial planning, business management, and relationship development. She holds a bachelor’s degree in business management from Westfield State College, an associate degree from Holyoke Community College, and the Accredited Investment Fiduciary designation.