Government lending
Small business owners are finding that loans from the Small Business Administration are keeping them afloat as traditional funding sources dry up. The loans are funneled through private lenders to businesses, but are backed by the government if borrowers don't cough up. The Buffalo News has the story:
SBA loan approvals in the Buffalo District Office, covering Buffalo and Rochester, rose by 7.2 percent in the fiscal year that ended Sept. 30, while the dollar volume soared by 41 percent.
Correctional health care
The Post-Standard reports that Onondaga County jails are getting a private company to delivery health care, for a projected savings of about $1.5 million over three years. The same employees will stay on, and might even get raises, but benefits will be cut to save cash:
The county was in an emergency because the doctors it had contracted with to come into the jail pulled out in August, said Ann Rooney, deputy county executive for human services. The county had to fill those physicians’ positions quickly, and decided to privatize the entire medical care system, she said. “This was not just about saving money,” Rooney said. “It was really about inmate care, providing the best care.”
Arts funding
There's a new series over at the Times Union that looks at how the arts are faring in the economy. The first article in the series looks at some of the local institutions that are struggling as traditional sources of arts dollars disappear. The article also includes a list of institutions' operating budgets, and their attendance.
Credit cards for colleges
The Democrat and Chronicle reports that credit card companies are continuing to target colleges. But now that lenders have been pressured to back off students, they're targeting alumni, with university-themed
cards – and the universities are cashing in.
Atlantic wind has Syracuse connection
Remember Google's giant project to build a wind farm all along the Atlantic coast? The Post-Standard
reports that the man behind the plan at Google is a Syracuse native. They've got an interview with him.
Budget power vote in Binghamton
Voters in the Binghamton area will get to decide tomorrow if Broome County legislators can alter a budget once the county executive has proposed it. The Press & Sun-Bulletin reports:
The problem dates back to the 1960s when Broome went from being governed by a board of supervisors to a county executive and legislature. The issue over who has the power to change or make cuts in the budget approval process was not sufficiently addressed in the county's charter, officials said.
Tiles fixed on Center for Excellence
Officials at the Syracuse Center of Excellence have figured out why panels on their building cracked, and have set to work replacing them. The Post-Standard reports that it turns out some of the panels were faulty, and the rest were stored improperly and then attached poorly. The state funded the center, which focuses on environmental innovations.
Fewer job cuts at the DEC
The Times Union reports that 150 Department of Environmental Conservation employees could be let go this week, as part of the governor’s continued drive to cut state jobs. But that's actually good news - last week, the governor dropped the number of cuts he was seeking from the DEC from 209 to 150.
Big buy for M&T
Western New York-based M&T Bank is buying Delaware's Wilmington Trust, reports the Buffalo News:
The deal calls for Wilmington Trust shareholders to receive $3.84 in M&T stock for each Wilmington Trust share based on Friday's closing prices. The price is a 46 percent discount from Wilmington Trust's $7.11 closing price on Friday.
Warehouse revival
The Times Union returns to an issue that the Innovation Trail's Dan Bazile reported on last week: how can the charred remains of a downtown warehouse contribute to economic renewal?
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