Lockheed Martin is trimming 227 jobs reports My-Ly Nguyen at the Press & Sun-Bulletin, with 89 positions being cut in Syracuse and 6 in Owego:
The last workday for most of the employees will be May 19, spokesman Jeff Brown said. Employees were told about the pending cuts earlier this spring, but didn't know how many jobs would be cut at each location. The company had said it expected to cut 350 positions. But "the analysis, combined with other employee exits or transitions to other businesses within Lockheed Martin over the last several weeks, resulted in the reduced number," Brown said.
Aircraft component manufacturer Astronics Corp. saw a 53 percent increase in profits in the first quarter, reports Matt Glynn at the Buffalo News. Growth in the market for big planes, like the Boeing 747, is fueling the aerospace industry and Astronics' success.
Fares at Albany's airport are the highest of all of the airports in New York, reports Eric Anderson at the Times Union, averaging $374 for a domestic flight.
GlobalFoundries, the big chip fabricator in Albany, is hoping to eek out another $305 million in sales tax exemptions from Saratoga County, reports Larry Rulison at the Times Union's Buzz blog.
New York's biotechnology industry isn't happy with the governor, reports Joseph Spector at Vote Up!. The Biotechnology Association sent the governor a "strongly worded letter" haranguing the him for changes in the Medicaid system in the new budget that make New York unappealing for biotech firms.
More bad news for New York from a national publication. This time it's CEO Magazine that's piling on, calling New York the second worst state to do business in. The results are based on responses from 550 CEOs - who apparently hate California only slightly more than they hate us. Thomas Adams reports at the Rochester Business Journal.
Unions protested the takeover of Community General Hospital by Upstate Medical University yesterday, reports James T. Mulder at the Post-Standard. The union wants its workers to remain private sector employees, rather than being folded into state employment.
The Destiny USA development can't keep the details of a bank settlement a secret, reports Rick Moriarty at the Post-Standard. That's a win for the paper, which had sought to have the public information about the faltering development released.
Just in time for the weekend, Genesee Brewing Company is unveiling a new look for its flagship brew. Genesee Beer (Genny, if you please), is going back to its red-and-white label roots. It's part of a campaign to retro-ify the line, which has helped yield a double digit increase in sales in 2010, reports Thomas Adams at the Rochester Business Journal.
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