Microsoft reports drop in profits as Surface sales jump, Xbox sales decline
Microsoft hit analysts' expectations with the second quarter results it released on Monday, reporting revenue of $26.5 billion, up from $24.52 billion it posted during the same period last year.
As expected, profits dropped more than 10 percent from $6.56 billion last year to $5.86 billion this year.
Numbers always peak during the holiday shopping season, but this year's numbers landed right around where analysts expected with earnings of 71 cents per share.
The release received a lukewarm response… Read More
Price tag on Nadella's restructuring plan at Microsoft: $1.2 billion and counting
The major restructuring new Microsoft CEO Satya Nadella kicked off in June has cost $1.2 billion so far, and it's not quite over yet, according to the company's earnings report released Monday.
The company expects to spend $100 million on restructuring for the next two quarters, bringing the total cost to $1.4 billion.
That total includes expenses associated with severance packages for the 18,000 employees who lost - or are losing - their jobs as part of the shakeup and other costs, such as facilities… Read More
Sprint targets T-Mobile customers
The wireless promotion bout between the third and fourth largest carriers is getting more personal.
Sprint Corp. recently launched a deal targeting customers of its nearest rival, T-Mobile US Inc., offering at least $200 for trading in their smartphone. The Overland Park-based carrier also will offer up to $350 per line that switches to cover early termination fees.
Sprint (NYSE: S) and T-Mobile (NYSE: TMUS) have been locked in a fierce promotions battle for months. T-Mobile, based in Bellevue,… Read More
Smashburger opens in Saratoga Springs this week
Smashburger, a fast-casual burger restaurant, will open in Saratoga Springs this Wednesday, the second Smashburger restaurant in the area.
Marc Goldstein, who co-owns the Smashburgher franchises for the Albany area, says a third location could open by fall 2015. The location for the third restaurant will be announced in the next six weeks, Goldstein says.
Goldstein and Leo Butera opened the first Smashburger location in August 2014 in Colonie. The restaurant, which serves burgers, chicken sandwiches,… Read More
Autotask names new CFO
Elmer Lai has been named the new chief financial officer at Autotask, an East Greenbush, New York software company.
Lai is taking over the job after several years of expansive growth. The company was acquired by Vista Equity Partners, a private equity firm, last year.
Autotask's software -- which allows IT service providers to manage help desk support, billing and other functions -- has been translated into several languages, including German, French, Chinese and Spanish. The company serves 5,600… Read More
Billions of dollars at stake in push for 'quality, rather than quantity' in health care
Billions of dollars worth of Medicare payments will be tied to new quality and performance standards under a push to reduce spending on health care.
Federal regulators and health care leaders gathered today in Washington, D. C. to outline the plan to implement the new payment structure for Medicare, a health care program for about 50 million elderly and disabled people, including more than 3 million in New York.
The Department of Health and Human Services has set a goal of tying 85 percent of Medicare… Read More
Albany, New York CEOs have more confidence, optimism going into 2015
Albany area business leaders are reporting increased confidence and optimism going into 2015, according to a new survey of upstate New York business leaders from the Siena Research Institute.
CEOs are expecting more revenue, profitability, asset acquisitions and hiring in 2015, according to the annual survey. The survey polled 524 business leaders from Buffalo, Albany, Rochester and Syracuse. In Albany, 50 percent of CEOs said they expect revenue to "grow moderately" this year. Technology and medical… Read More
Times Union Center readies for $15.7M in upgrades
The Times Union Center in downtown Albany will undergo a $15.7 million upgrade within the next two years.
The renovation will enclose the atrium on the center's main entrance on South Pearl Street and install new glass escalators and a waterfall. The aim is to make the center more welcoming.
"It's really going to be a beautiful space," said Bob Belber, SMG Regional General Manager. "We envision even allowing workers to come during the middle of winter and enjoy what's going to be a pleasant setting."
SMG… Read More
Contract dispute at CDPHP and NYOH hinged on battles over health care's rising cost
Dr. John Bennett, who is CEO and president of CDPHP, summed up how and why the Albany, New York-based insurer reached an agreement with New York Oncology Hematology to reduce the cost of health care.
"This deal is a good step toward a more value-based payment system," Bennett wrote in an email.
He was referring to an effort to establish health payments and pricing based on performance and outcomes. That is opposed to the long-standing fee-for-service model reflecting the number of procedures performed.
Bennett… Read More
New York Oncology Hematology, CDPHP reach agreement after contract dispute
A new agreement has been struck between New York Oncology Hematology, the Albany region's largest cancer-treatment practice, and CDPHP, one of the largest insurers in the area, related to providing cancer care to hundreds of patients.
The organizations announced they reached an agreement after contract talks broke down last month and the cancer practice, which has about 320 employees and seven offices, terminated a prior agreement with CDPHP, which has about 1,000 total employees and 450,000 members.
The… Read More