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7/23/2014 :: Albany, NY :: Albany Jobs :: Contests :: Blogs :: Advertising :: Deals :: My Account :: My Planner :: Sitemap :: Pay Bill

Local Albany Business Headlines

Apple iPhone sales fall short of estimates
Apple Inc. sold 35.2 million iPhones in the fiscal third quarter, short of the consensus estimate of 35.9 million, the company said in its earnings report. The company's sales guidance of $37 billion to $40 billion for the fiscal fourth quarter was lower than analysts surveyed by Bloomberg expected. The iPhone sales represent a 12.7 percent bump up from last year's 31 million. Strong iPhone sales helped bring in $37.4 billion in revenue, falling on the high side of analysts' expectations of $36…
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Integrated Liner Technologies Inc. begins construction on expansion today
Pinnacle Improvements LLC today begins construction of a 20,000-square-foot addition to Integrated Liner Technologies Inc.'s factory. Paul Petrosino, president and founder of the East Greenbush, New York vial, bottle and test tube cap manufacturing company, says the addition of manufacturing space and eight new machines will increase capacity and speed up production. "We have a large share of the market," Petrosino said. "We're experiencing worldwide growth, especially with the products we sell…
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Hiring by the hundreds: Behind the scenes of GlobalFoundries' recruiting process
Computer chip manufacturer GlobalFoundries' plant in Malta, New York has been at the height of hiring mode since March, and it's not stopping anytime soon. "I'd like to think we're halfway there," said Suzanne Wolff, university relations program manager for GlobalFoundries. The company already has year hired about 400 employees this year, bringing its payroll in Malta to more than 2,400. GlobalFoundries began building the Malta factory in 2009. "We probably have 300 or 400 left to go. We are in…
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Albany nanocollege reaches agreement with county and city to finance $191 million expansion
The nanocollege complex in Albany, New York has reached an agreement with the county and city on the financing of its $191 million expansion. According to a report by the Times Union, the college will finance the construction of the ZEN building, a project that will be used for clean energy research, through bonds issued by the Albany County Industrial Development Agency. The project also will receive a $2.3 million mortgage tax break. The IDA will collect a $1.9 million fee and the city will receive…
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CEO of Albany health insurer says government can't afford Affordable Care Act subsidies, regardless of court cases
News and analysis was still pouring in Tuesday afternoon about two big court cases. They involved the legality of spending federal dollars to subsidize health insurance under the Affordable Care Act. Addressing the issue, John Bennett, CEO and president of CDPHP, an Albany-based insurer, raised a separate but related issue that few of the experts were talking about. Bennett said the issue boiled down to the federal government's inability to afford the subsidies in the first place. "There's so many…
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​Take a surgical robot for a "test drive"
St. Mary’s Healthcare in Amsterdam, New York plans to let people take its new surgical robot for a "test drive." On Friday between 1 and 4 p.m., people will be allowed to visit the Guy Park Avenue hospital and operate the new robot, called the da Vinci Xi Surgical System. The event follows an announcement by St. Peter's Hospital in Albany, New York about its purchase of two of that same robot for about $2.6 million total. St. Peter's replaced older models at the hospital. In January, Glens Falls…
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IBM Watson, USAA say supercomputing will make homecoming easier for the military
Slowly but surely, Watson is coming to the people. IBM's seven-month old Watson Business Group unveiled a new application of its advanced supercomputer Tuesday night, a partnership with financial services provider USAA to help military members transition to civilian life. Using the Watson Engagement Advisor tool, USAA hosted a website where customers could ask the computer any question related to rejoining civilian life, like resume writing, insurance coverage choices and home buying. Last month,…
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General Electric is building a fuel cell pilot development and manufacturing plant in upstate New York
General Electric has created a new fuel cell startup business and is building a fuel cell pilot development and manufacturing plant in Malta, New York, the company announced Tuesday. The company said it has developed a new technology "that could soon start producing electricity around the world." The new Malta plant in Saratoga County already is being equipped with robotic thermal spray equipment, fuel cell test stations, screen printers and towering bulk gas storage tanks. Malta is located south…
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Why upstate New York hospitals will get a smaller share of $8 billion in Medicaid savings
Gary Fitzgerald, president of Iroquois Health Alliance, has been doing the math tied to $8 billion in Medicaid savings being spent in New York during the next five years. By his calculations, upstate hospitals should get about $2 billion of that money, with the remaining $6 billion going to downstate hospitals. But the initial wave of money, nearly $500 million, went out earlier this month and reflected a different split. If the trend continued, upstate would ultimately get a smaller piece of that…
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Renovating an historic building in downtown Troy (Slideshow)
Jeff Buell wasn't deterred by the rough conditions inside 9 First St. in downtown Troy, New York. Buell, president and CEO of Sequence Development, bought the vacant, run-down property last year. Now, renovations are almost finished, and tenants have been secured for the ground-floor retail space and three upper-floor apartments. Click on the photo to learn more, and go here to read about Buell's other projects.
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