One of Wall Street's premiere bond rating agencies has upgraded Buffalo's bond rating to A1.
City Comptroller Mark Schroeder says Moody's decision follows a complimentary report it wrote about Buffalo's diversifying economy and a meeting he and top financial officials in the Brown Administration and City School District had with the "big three" bond ratings agencies in New York City a month ago.
Schroeder told WBFO News he thinks the upgrade reflects Moody's view that Buffalo is finally ready to "move forward."
Only seven percent of plastic waste in the United States is recycled each year, according to the Environmental Protection Agency. A startup company in Niagara Falls says it can increase that amount and reduce the country's dependence on foreign oil at the same time.
It all starts with a machine affectionately known as the "Plastic-Eating Monster." Thousands of pounds of shredded milk jugs, water bottles and grocery bags tumble into a large tank, where they're melted together and vaporized. This waste comes from landfills and dumps from all over the United States.
Direct Air, which suddenly suspended its flights this week into and out of Niagara Falls International Airport, filed for bankruptcy today. The Myrtle Beach, South Carolina-based airline is seeking Chapter 11 protection.
Papers filed with a bankruptcy court in Massachusetts indicate liabilities between $10 million and 50 million. The Buffalo News reports Direct Air owes $88,000 in landing fees to the Niagara Frontier Transportation Authority.
The Maid of the Mist Tour boats will be operating on both sides of Niagara Falls this season. But future operations of the boats along the Niagara River Gorge remain unknown.
“I think the Maid operating this year, on both sides and hopefully the New York side for a long time come,” said State Senator George Maziarz of Newfane after learning the Maid of the Mist will be moving forward with its tours at least for this year.
The decision was issued Tuesday after Maid of the Mist officials completed discussions with the Niagara Parks Commission.
U.S. Senator Kirsten Gillibrand believes Washington can move to slow rising gas prices with some short-term and some long-term solutions.
Gillibrand made her comments while making a stop in Western New York Monday.
Gillibrand said the Strategic Petroleum Reserve can be tapped and she advocates on behalf of occasional furloughs from the gasoline tax. In the long run, Gillibrand argues lawmakers can make a difference with better budget decisions.
A downtown food truck operator has plans to expand its service a month after Mayor Brown signed new food truck rules into law. The owners of Lloyd's Taco Truck has launched a campaign using Kickstarter -- a funding platform. It allows supporters to pool additional funds needed for the truck’s down payment.
WBFO'S Eileen Buckley talked to the co-owner of Lloyd's Taco Trucks, Peter Cimino.
Western New York Congresswoman Kathy Hochul was at home in her district Monday, addressing problems faced by small businesses and calling for streamlining federal agencies.
WBFO News talked to Hochul about her call for improving the federal government's response to small businesses.
The Consolidation Authority Act would restore presidential power to re-organize federal agencies. That power that lapsed in 1984. Democratic Congresswoman Kathy Hochul, who represents New York's 26th congressional district, said Congress needs to approve the Act. Why?
State Assemblyman Sean Ryan says if the Buffalo-Niagara region is to finally move forward in economic development, economic development agencies to stop the practice of one locality pirating a business away from a neighboring locality.
Western New York Congresswoman Kathy Hochul spearheaded an opportunity for area small businesses to learn how they can tap into the international marketplace here in this region.
"Canada is such a strong partner of ours, and for an opportunity for our local business to learn how to export into Canada," noted Hochul.
The Small Business Export Forum was held on Saturday at ECC's North Campus. The forum was established as a means for introducing the region's business people to the available resources that will pave the way for broadening the audience for their products.
Buffalo, NY – A bid was accepted last week for the mothballed Statler Towers, but the $700,000 offered for the downtown landmark was significantly less than a recent bid for a piece of residential property in Buffalo.
That's one of the topics we cover this week as Business First reporter Jim Fink joins us for the Media Roundtable. Bert Gambini began his conversation with Jim by asking if there were concerns that the August 14th shootings outside the City Grill could hinder downtown development.
Chauauqua Institution, NY – The Publisher of the New York Times will be one of the featured speakers next week at the Chautauqua Institution summer lectures. Arthur Sulzberger, Jr. will discuss the role of journalism in a democracy in week three of the lecture series. WBFO'S Sarah Campbell has more in this week's Chautauqua Preview.
Click the "listen" icon above to hear the Chautauqua Preview now or use your podcasting software to download it to your computer or iPod.
Chautauqua Institution, NY – Russell Muirhead is associate professor of government at Harvard where for the past 5 years he's been teaching courses on work. His latest book is titled Just Work. He delivers Monday morning's lecture, week two, at the Chautauqua Institution, titled "The Promise of Fulfillment in the New World of Work."
Muirhead joins WBFO's Mary Van Vorst on this week's Chautauqua Preview. Click the "listen" icon above to hear her report.
Buffalo, NY – The Base Realignment and Closure Commission was in Buffalo Monday. Federal, state and local leaders rallied with citizens demanding that the Commission reverse the Pentagon's recommendation to close the Niagara Falls Air Reserve Station. Following the rally, leaders delivered their testimony at the regional hearing.
Click the "listen" icon above to hear Eileen Buckley's report.
Chautauqua Institution, NY – Political analyst and commentator Robert Kagan's latest book is titled "Of Paradise and Power," and it will be the starting point for his lecture next Wednesday morning -- week one -- at the Chautauqua Institution. His lecture is titled "America and Europe: Two Liberal Visions." The week's theme is "Europe Today and Tomorrow."
Robert Kagan joins Mary Van Vorst for our first Chautauqua Preview. Click the "listen" icon above to hear more.
Buffalo, NY – It's getting more expensive to operate a small business in a sluggish Buffalo Niagara economy. Health care and liability insurance and worker comp costs have some local business owners digging deep into their pockets to survive.
Buffalo, NY – The price of Adelphia Communications stock dropped again Thursday, losing 27 percent of its value over the past two days.
The decrease is the result of this week's announcement that Adelphia has over 2.3 billion dollars in debt that was not included on its balance sheets, in addition to a 1.7 billion dollar loss last year.
Adelphia officials said the development will have no bearing on their plans to build a new multimillion dollar headquarters in downtown Buffalo.