Business Review Of Albany

Albany-area event focuses on startups

by Business Review Of Albany 05.16.2012

More than 100 people are expected to attend Local Lift, an new event geared at helping entrepreneurs and small startups grow their businesses.

The event, scheduled for May 17 at Hudson Valley Community College’s TEC-SMART campus in Malta, runs from …

State halts payments to NYRA, threatening Saratoga upgrades

by Business Review Of Albany 05.16.2012

State officials have frozen critical funding for The New York Racing Association Inc., money used for operations and capital improvements at Saratoga Race Course.

It’s just the latest blow for NYRA, which is in crisis amid a betting scandal that has a…

Assembly approves minimum wage hike

by Business Review Of Albany 05.16.2012

In a party-line vote, Democrats in the state Assembly approved a bill Tuesday that raises New York’s minimum wage 17 percent next year and automatically every year after that.

Most business lobbies have attack the bill as a “job-killer,” saying it wou…

Schenectady, Amsterdam among first in NY getting “land bank"

by Business Review Of Albany 05.16.2012

A joint application from Schenectady County, the city of Schenectady, and the city of Amsterdam to create one of New York’s first land banks is expected to be approved by a state board.

The board of the Empire State Development Corp. is scheduled to…

OSHA cites Saratoga Home Depot, proposes $51,000 in fines

by Business Review Of Albany 05.16.2012

Home Depot faces $51,480 in fines after its store in Saratoga Springs, New York, was cited by federal regulators for “repeat and serious” workplace violations.

OSHA’s inspection found that the required working space around eight electrical equip…

The Living Room joins Saratoga’s restaurant scene

by Business Review Of Albany 05.16.2012

A couple that operate a nightclub in downtown Saratoga Springs have opened a casual fine-dining restaurant on Caroline Street called The Living Room.

Tiffany and Jonathan Albert are leasing space at 30 Caroline St. for their 45-seat restaurant from Br…

St. Peter’s Hospital reports 70% net income drop in 1st Q

by Business Review Of Albany 05.16.2012

St. Peter’s in Albany, New York, had revenue in excess of expenses of $1.9 million for the three months ended March 31, compared to $6.5 million a year earlier, according to financial statements filed with bondholders.

That reflects only the results…

Shareholders green-light AngioDynamics to buy competitor

by Business Review Of Albany 05.16.2012

AngioDynamics Inc. expects to formally acquire a competitor on May 22, after shareholders gave the go-ahead in a vote taken Wednesday in Latham.

The purchase would make AngioDynamics the second-largest public company in the 11-county Capital Region, b…

New Yorkers back medical marijuana, split on fracking, MMA

by Business Review Of Albany 05.16.2012

More than half of New Yorkers say they support legalizing marijuana for medicinal purposes, according to the latest Siena College Research Institute survey.

But New Yorkers are more divided over issues such as natural gas drilling and legalizing mixed…

New York Democratic Party chairman resigns

by Business Review Of Albany 05.16.2012

Jay Jacobs, the chairman of the New York Democratic Party, said he will resign next week, The New York Times is reporting. Gov. Andrew Cuomo, a Democrat, is expected to name his replacement. Jacobs’ term was scheduled to end in September, according t…

States using mortgage settlement money for other uses

by Business Review Of Albany 05.16.2012

As part of the $25 billion settlement negotiated between states and five major banks over abuses in their mortgage and foreclosure processes, the banks agreed to pay states $2.5 billion, money intended to help homeowners and mitigate the effects of the…

Average tenure of CEOs down, more turnover expected

by Business Review Of Albany 05.16.2012

The pressure and scrutiny on CEO performance has shortened the average tenure of head execs of companies in the U.S. to about five and a half years from about 10 since the 1990s, reports USA Today.

Even though only 42 CEOs were forced out of their job…

Albany ranks 9th for government-based jobs

by Business Review Of Albany 05.16.2012

The Albany area ranks ninth in the nation for percentage of government jobs according to analysis of figures from the U.S. Bureau of Labor Statistics.

Out of Albany’s nearly 438,600 nonfarm jobs, 102,700 are classified under government, representing…

Study examines impact of stiffer ‘fracking’ regs

by Business Review Of Albany 05.16.2012

The University at Buffalo’s Shale Resources and Society Institute has issued a report that offers the first quantitative data review of Pennsylvania’s regulation of hydraulic fracturing of natural gas.

The report, entitled, “Environmental Impact…

State threatens to nix NYRA’s horse-racing franchise

by Business Review Of Albany 05.16.2012

State regulators hammered the scandal-ridden New York Racing Association Inc. late Tuesday—making their most serious threat yet to revoke NYRA’s horse-racing franchise.

Effective Tuesday, the state halted payment of the multimillion-dollar proceed…