PricewaterhouseCoopers to close one of its Albany, NY offices
PricewaterhouseCoopers LLP will close one of its offices in Albany, New York, by Oct. 31.
The firm is set to close its location at 677 Broadway, an office tower in the heart of downtown. PricewaterhouseCoopers was ranked fifth in the Albany region on the Business Review’s 2014 CPA Firms List. When the List was published in January, the firm reported that it had 35 locally based, full-time CPAs.
Its top three client industries include consumer/industrial products, health care and colleges and… Read More
St. Peter's and Ellis Medicine start physician practice targeting diabetes
A partnership between St. Peter’s Health Partners and Ellis Medicine is continuing to take shape.
The latest news involves St. Peter’s and Ellis -- two of the region's largest hospital systems -- forming a physician practice to deal primarily with diabetes patients, of which the Albany area has about 43,000.
Called the Capital Region Diabetes and Endocrine Care P.C., the project shows a growing trend in health care to consolidate doctors into practice group. Growing competition for patients… Read More
Two more hours to bet at New York's racinos, when most people sleep
Gamblers at Saratoga Casino and Raceway in Saratoga Springs, New York -- along with the eight other 'racinos' in the state -- could get two extra hours to bet at a time when most people are sleeping.
A change in state law approved by the Legislature and signed by Gov. Andrew Cuomo allows racinos to close at 6 a.m instead of the previous 4 a.m. deadline. Racinos house hundreds of slot machines, a form of gambling that props up their original business, harness horse racing.
The owners of the Saratoga… Read More
More retailers could be coming to Troy-Schenectady Road in Colonie
More retail tenants will be coming to the western end of Troy-Schenectady Road in Colonie, New York if town officials approve of a nearly 12,000-square-foot building at the Riverhill Center office park.
The building, if approved, would be constructed at the edge of the busy road between a Rite Aid and the headquarters of Sunmark Federal Credit Union.
Commercial real estate developer First Columbia LLC owns Riverhill Center, a 90,000-square-foot, three-building office park at 1201 Troy-Schenectady… Read More
Juice and smoothie shop moving into Wine Bar owners' refurbished building in downtown Troy
A smoothie and juice bar will open in the next two weeks in a downtown Troy, New York building that is being refurbished by the owners of Lucas Confectionery.
Collar City Hard Pressed is moving into a space at 207 Broadway, less than a year after owner Jessica Garrity, a 31-year-old resident of Troy, began selling juices at the Troy Waterfront Farmer's Market. Last weekend, she sold about 200 juices at the market.
"We love her product," says Vic Christopher, who owns the confectionery with his… Read More
Battles between labor union and hospitals getting ugly in New York
Battles between labor unions and hospitals are getting ugly in New York, including in the Albany area, as both sides seek leverage amid upheaval in the health care system.
Negotiations recently broke down between Nathan Littauer Hospital and Nursing Home and the New York State Nurses Association. The New York City-based union represents 154 nurses at the hospital system in Gloversville, in Fulton County, an hour's drive west of Albany.
Natthan Littauer officials on Friday filed an unfair labor… Read More
Survey says: Albany, New York business climate not great
A survey gave the Albany, New York area a "C" grade for friendliness toward small businesses.
More than 12,600 American business owners participated in the survey by Thumbtack.com, a San Francisco start-up, and the Ewing Marion Kauffman Foundation, a nonprofit group based in Kansas City, Missouri.
Albany was one of 82 cities rated in the survey. A “C” grade was the mid-point of the scale. The grade was based on the opinion of 40 business owners in the Albany area, according to the survey sponsors.
Albany… Read More
IBM rejects GlobalFoundries' offer to acquire computer chip business
GlobalFoundries may not be purchasing IBM's chip manufacturing business after all, as the companies failed to reach an agreement, according to reports.
IBM, headquartered in Armonk, New York is expected to sell its chip manufacturing business as it shifts its focus to cloud computing. Industry analyst have said that GlobalFoundries, headquartered in Silicon Valley, was a top contender to make the purchase to gain access to intellectual property and skilled employees.
According to a report by Bloomberg,… Read More
Darden closes $2.1B sale of Red Lobster
It's official -- Red Lobster has a new parent.
Darden Restaurants Inc. on July 28 announced it completed its sale of its 45-year-old Red Lobster business and related assets and liabilities to private equity firm Golden Gate Capital for $2.1 billion in cash.
Orlando-based Darden (NYSE: DRI) previously announced it plans to use about $1 billion in net cash proceeds to retire outstanding debt, with another $500 million-$600 million going toward a new share repurchase program of up to $700 million… Read More
Albany-area home sales decline despite private-sector job growth
Total home sales and prices fell in June in the Albany, New York area, and pending contracts also declined, signs that the real estate market continues to be sluggish despite private-sector job growth.
The number of closed sales in June through the Capital Region Multiple Listing Service declined 5 percent, to 827 units, compared to a year ago, based on preliminary figures released by the Greater Capital Association of Realtors.
Meanwhile, the number of pending contracts – a sign of future activity… Read More