Business/Economy

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

Governor's Office

The nation's new tax law places a cap on the amount of state and local taxes that someone can deduct from their taxable federal income. That caused panic in high-tax states like New York. So the state's lawmakers amended their tax system to mitigate the increased costs for New Yorkers - changes the federal government may soon attempt to nullify.

Michael Mroziak, WBFO

Some of the last relics of a former steel production complex in Lackawanna are being removed to make way for the Shoreline Trail.

Mike Desmond/WBFO

Commuters frustrated with the detours around the Skyway have a sympathetic ear in Congressman Brian Higgins. Though the re-decking of the bridge has been underway for a few weeks, he remains unyielding in his criticism. For Higgins, the $30 million effort is "a compete waste of money because that bridge could not be constructed today because it's unsafe. It doesn't have shoulders in the event vehicles break down."

National Public Radio

Sears is closing another 72 stores after reporting a first-quarter losses and plunging sales. The company says it will post a list of those locations on its website by midday.

A memorial service will be held Thursday for the former chairman of NOCO Energy. Reginald B. Newman II died unexpectedly April 7 at his winter home in Florida. He was 80 years old.

National Public Radio

If you're looking for a cup of coffee to help keep you going after a long holiday weekend, you can forget about going to Starbucks. More than 8,000 company-owned stores are closing Tuesday for anti-bias training. It follows the recent arrests of two African-American men who asked to use the restroom in a Philadelphia Starbucks last month. But will the training work?


Before falling on hard times, Seneca Street once stood as the hub of commerce and entertainment in South Buffalo. That could be changing. During his monthly appearance on WBFO's Press Pass, Jim Fink of Business First highlights some new developments that will bring new vitality to the neighborhood.


With a depressed farm economy already hurting their prospects, many local growers and producers would have welcomed passage of the 2018 Farm Bill. Instead, the House of Representatives voted it down last week. Steve Ammerman of the New York Farm Bureau says his agency is "disappointed" by the rejection which was fueled by a conflicting assortment of political priorities.

Michael Mroziak, WBFO

General Motors' Tonawanda Engine Plant has been selected as the first of the automaker's plants to produce a new V-8 engine line that utilizes a cylinder deactivation technology that helps the engine produce only the power that is needed, in order to increase efficiency. Plant officials announced Monday it will result in the retention of 635 jobs.


WBFO file photo

Kevin Schuler, a former LP Ciminelli Corp. executive will not go on trial and has agreed to provide evidence to prosecutors in the ongoing Buffalo Billion trial that alleges bid specifications were tailored to allow Ciminelli to build the massive state-owned Solar City/Tesla factory on South Park Avenue.

The New York State Public Service Commission on Thursday gave the green light to former Buffalo Sabres owner Tom Golisano. The PSC approved the sale of local broadband company Greenlight Networks to Golisano's Grand Oaks GLN, LLC. 

Fujifilm is planning to sue Xerox over the company’s decision to pull out of a $6.1 billion deal that would have seen Fuji take over control of Xerox.

BuffaloNiagara.org

Doug Ford, a candidate in the race to become the leader of the Province of Ontario, is claiming that Canada has lost thousands of jobs to Western New York. But that's not how the leader of the region's economic development organization sees it.


Jamie Frumusa

A signature taste of Buffalo is making its debut Thursday in New York City. Anchor Bar, which came up with the recipe for spicy chicken wings in 1964, is opening its eleventh location right in the heart of Manhattan.

WBFO file photo/Eileen Buckley

The Niagara Frontier Transportation Authority has already done it with one of its Metro Rail stations. Now, it's inviting developers to bring forth ideas for converting other underground rail stations into mixed-use centers.


Emily Hunt / WXXI News

The on-again, off-again agreement between Xerox and two major investors to settle a proxy fight is on again.

Issues surrounding housing inequities in Buffalo were brought to light during a panel discussion at the WNED|WBFO Studios Wednesday night, as part of WBFO's Racial Equity Project.

Congressman Brian Higgins

The pressure is growing on Siemens to keep its former Dresser-Rand plant in Wellsville open. Joining the fight Wednesday to protect 250 layoffs are House Democratic Leader Nancy Pelosi, Congressman Brian Higgins and other Democrats who say the company is violating its promise to create jobs while benefiting from GOP tax breaks.

Did this town just 'zone out' wind farms?

May 10, 2018
Lauren Rosenthal

Hopkinton, a small town in rural St. Lawrence County, just staked out a tough position when it comes to wind farms. The town board approved a strict zoning law that will require wind farms to stay within one specific corner of town — but about a half-mile away from people’s homes and the boundary of the Adirondack Park in New York State's North Country. That's causing problems for a wind project that's been in development by Avangrid Renewables, an international energy company with wind farms in Herkimer and Lewis counties, for years. It also serves as a lesson for other towns considering wind farms.

"Housing in Black & White," broadcast on Facebook Live Wednesday night, brought together experts to discuss red-lining in Buffalo, affordability and other important issues.

They called for making the city's housing more livable, reforming housing court and addressing the serious health problems that result from lead paint, dust and cockroaches.

Xerox has released a letter from its Board of Directors to shareholders, in the ongoing dispute over control of the company’s management and direction.

Michael Mroziak, WBFO

New York State is considering the end of the minimum wage tip credit system and requiring employers pay all tipped employees the same minimum wage as those who do not earn tips. Tuesday in Buffalo, representatives of the Labor Department heard testimonials from people who have sharply divided opinions about the system.


WBFO File Photo

Since his purchase of Buffalo's tallest building, Washington-based developer Douglas Jemal has promised to bring new life to One Seneca Tower. That rebirth appears to be ahead of schedule. Appearing outside Monday's meeting of the city Planning Board, attorney Adam Walters says the project is moving forward at a "breakneck pace."

There was plenty of criticism from Southern Tier residents Monday night during an informational meeting about a planned wind turbine project for the towns of Arcade, Centerville, Farmersville, Freedom and Rushford.

A tumultuous week for Xerox has resulted in another surprising turn of events. Late Thursday night, Xerox released a statement saying that its current board and management team will stay in place, after a settlement agreement it had reached with two activist shareholders has expired.

Citizens for Regional Transit

Improving Amtrak passenger train service into and out of this region is almost as important as improving the connecting Metro Rail service. That from a meeting Tuesday night sponsored by Citizens for Regional Transit.


Emily Hunt / WXXI News

There’s a major shakeup at Xerox in the wake of the recent fight over the control and direction of the company by two major investors.

Updated at 3:07 p.m. ET

T-Mobile and Sprint have reached a "definitive agreement" to merge in an all-stock deal, which would create a new company with a total value of $146 billion, based on current stock prices.

Dresser-Rand

The union representing 250 machinists at Dresser-Rand in Wellsville have approved an extended contract that increases severance benefits as the plant prepares to close. It also has an updated timeline for layoffs.

Mike Desmond / WBFO News

A section of one of Buffalo's many old industrial buildings now houses a defense contractor that came here to take advantage of the labor pool and the engineers trained at the University at Buffalo.

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