New York may soon have task force on smash-and-grab robberies – Down to Business

New York may soon have task force on smash-and-grab robberies – Down to Business

DOWN TO BUSINESS - Last month was a tough one for big-name retailers in the Los Angeles area.Mall stores operated by Yves Saint Laurent, Nordstrom and Macy’s all saw so-called smash-and-grab robberies in which dozens of masked individuals brazenly entered in broad daylight, grabbed what they could, and exited quickly. YSL and Nordstrom each put the losses at $300,000 in high-end purses, clothing and other merchandise. The “flash-rob” sprees are not new, but lately seem to pile one atop the other. Some point a finger at changes tied to the COVID-19 pandemic (who looks twice when a masked shopper enters…
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Shrinking holdings of company that had sought to rescue Sears, Kmart stores – DOWN TO BUSINESS

Shrinking holdings of company that had sought to rescue Sears, Kmart stores – DOWN TO BUSINESS

The former Sears space at Colonie Center is one of only two New York properties remaining in the once-vast holdings of Seritage Growth Properties, created in 2015 to help struggling retailers Sears and Kmart by buying up store sites and becoming their landlord.After that rescue plan failed as Sears and Kmart rapidly closed stores, Seritage attempted to “unlock the underlying value” of the properties by redeveloping them for new tenants or pursuing larger schemes for lifestyle centers with apartments, offices, restaurants, cinemas and green space.Those ideas, though, ran head-on into the bottom-line reality of the big bill that was due…
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Aldi swoops in, buys two chains with 400 stores in Deep South – Down to Business

Aldi swoops in, buys two chains with 400 stores in Deep South – Down to Business

DOWN TO BUSINESS - To Phil Lempert, who watches and reports on food trends as The Supermarket Guru, it was an “industry wake-up call, an earthquake, if you will,” as he wrote on Forbes.com, when grocer Aldi announced a deal last week to buy two established supermarket chains with 400 stores in the Deep South.Aldi is a limited-assortment discounter offering mostly private-label brands in small stores, well-known for charging customers a refundable quarter to use a shopping cart and requiring they step away from the registers after paying to pack their own purchases.By contrast, the cash deal for Winn-Dixie and…
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Glens Falls-based Arrow Financial Corp. has gone through many changes – Down to Business

Glens Falls-based Arrow Financial Corp. has gone through many changes – Down to Business

DOWN TO BUSINESS - The past 12 months have been a bit bumpy for Glens Falls-based Arrow Financial Corp., parent to two community banks and firms that offer wealth management and insurance.Amid executive changes and a prickly systems upgrade, the company survived two stock delisting warnings and a CEO who “terminated” his own employment.Through it all, Arrow remained “well capitalized,” according to regulatory filings, although its stock took a hit before beginning a slow recovery.The personnel shuffle began in August 2022 when chief financial officer Edward Campanella announced his resignation for personal reasons. His duties were assumed on an interim…
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Waite: On your next picnic, don’t pack your gun

Waite: On your next picnic, don’t pack your gun

For the second time in a month, someone fired a gun at Veterans Park in Amsterdam. The most recent incident happened before 3:30 in the afternoon on Sunday. The pool was open. A three-day basketball tournament was underway. The previous incident happened during a free family movie night as “Minions: The Rise of Gru” played on the screen. Kids as young as 4 years old were watching, according to reporting by Ashley Onyon. These shootings are not examples of crime run amok in Amsterdam. Instead, they prove how senseless it is to bring guns to a community park.  On Sunday,…
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