The WBFO Business & Economy News Desk is funded by The M&T Charitable Foundation.

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.

Coudersport, PA – The Securities and Exchange Commission is looking into Adelphia's troubled financial situation. Adelphia officials are promising to cooperate in the probe.

The company announced last week that it has $2.3 billion in previously undisclosed debt.

Adelphia's stock price continued to drop Wednesday, but not by as much as in recent days. Adelphia closed at $11.04, down 79-cents from Tuesday. It had fallen under $10 for a time earlier in the day.

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.

Loudonville, NY – Consumer confidence in New York declined in December after posting gains the previous two months.

The drop in consumer confidence in December was fueled mainly by the New York City area. A survey by the Siena College Research Institute found the index falling 2.6 percent from the previous month.