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HSBC, First Niagara deal is ‘attractive,’ CEO says
DeWITT — The addition of 19 branches from HSBC and First Niagara Financial Group, Inc. will strengthen core upstate New York markets for Community Bank System, Inc. (NYSE: CBU), the company’s CEO said. DeWitt–based Community Bank System announced plans Jan. 20 to acquire the 19 branches for a deposit premium of 3.22 percent. The deal, […]
New branches to boost Key in upstate New York
The acquisition of 37 HSBC branches in the Buffalo and Rochester areas will strengthen KeyBank’s business in upstate New York, KeyCorp (NYSE: KEY) Chairwoman and CEO Beth Mooney said in a conference call Jan. 24. Increasing market share and its physical presence in markets over time helps the bank add new clients, increase revenue, and enhances its
Governor’s Budget Reforms Medicaid, Pension System, Boosts Education Aid Some
Gov. Andrew Cuomo proposed his executive budget recently. Overall, it’s a good start that addresses contentious issues and has the taxpayers in mind. It keeps spending at the same level as last year. It also proposes reforms to Medicaid and the pension system that will reduce the bloated, built-in increases my colleagues and I have talked about
Cornell University relaunches humanities building project
ITHACA — Cornell University will relaunch the design phase of its new humanities building now that the buildings and properties committee of the Cornell Board of Trustees unanimously approved the measure Jan. 19, according to the Cornell Chronicle. It’s the first new building at Cornell in more than 100 years.The process was put on hold
Speedy Awards relocates to Crossroads Plaza
NEW HARTFORD — Speedy Awards & Engraving, Inc. has a new home and plans to add some new products as the company’s owners work to continue the growth they generated in 2011. Speedy co-owners Anthony (Tony) and Lyn Taurisano, who are brother and sister, found out in September they would need to find a new
PAR completes sale of logistics-management subsidiary
NEW HARTFORD — PAR Technology Corp. (NYSE: PAR) completed the asset sale of its PAR Logistics Management Systems (PAR LMS) subsidiary to ORBCOMM, Inc. (NASDAQ: ORBC) on Jan. 12. The sale is valued at about $6 million in cash and ORBCOMM common stock, with the potential for an additional earn-out of $4 million. “We are
Utica-Rome consumer confidence rises in Q4 2011
Area still has lowest confidence in the state Utica-Rome–area residents increased their willingness to spend in the fourth quarter of 2011 along with consumers in most other parts of the state. Overall consumer confidence in the Utica-Rome metropolitan statistical area (MSA) rose 3.7 points to 56.2, according to the Quarterly Consumer Confidence Survey from
Business-to-business predictions
AIR INNOVATIONS 7000 Performance Dr., North Syracuse, NY 13212 – Website: www.airinnovations.com – Products/Services: Air Innovations designs and builds specialty air conditioning, refrigeration, and environmental-control products and systems for end users and original equipment manufacturers around the world. – Total Employees: 45 – Top Executive: Michael Wetzel, president & CEO – 2011 Annual Revenue: $9
CVI takes over Sheltered Workshop services
BINGHAMTON — Johnson City–based Country Valley Industries (CVI) has taken over as service and contract provider for Sheltered Workshop’s location at 203 Court St. in Binghamton. “They were a long-standing organization that provided services to the same population we service,” says David Markie, vice president at CVI. When Sheltered Workshop decided not to continue services,
Upstate New York pays the state less in taxes and other revenue than it receives back in state expenditures, according to a report from the Nelson A. Rockefeller Institute of Government at the University at Albany. About 24 percent of taxes and revenues collected by New York state in 2010 came from the upstate region, according to
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