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Local Albany Business Headlines

Regeneron ranks as one of most innovative companies by Forbes
Regeneron Pharmaceuticals was ranked No. 3 on a list of the most innovative companies in the world by Forbes magazine. This is the fourth straight year the drugmaker has been on the list. The No. 3 ranking is the highest spot yet for the company and puts it ahead of some noted innovators, such as Amazon, Under Armour and Netflix. Regeneron is headquartered in Tarrytown, and the bulk of its manufacturing is done in East Greenbush. More than 1,400 people are employed there, a growth of more than…
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Lawmakers get poor marks from small business group after minimum wage hike, paid leave mandate
State lawmakers collectively dropped in rankings from New York's small business lobbying group after approving a higher minimum wage and expansive paid leave system. The National Federation of Independent Business gave lower marks than in past years for legislators, particularly Senate Republicans who voted for this year's budget. Mike Durant, the NFIB state director, said the session marks one of the most difficult for small businesses in recent years. “Frankly, small business in New York needs…
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Albany hospitals received more than $6 million from Medicare settlement
Albany Medical Center received the most money of any hospital in the region from a settlement over disputed Medicare payments, newly released data shows. The region's academic medical center was paid $3.59 million by the federal government to settle 659 cases where the hospital appealed decisions about improper payments. The money was part of a 2015 settlement between the federal government and a third of the hospitals in the U.S. The settlement ended appeals that could stretch on for years after…
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Coffee taste test finds most people prefer the cheap stuff — but there are grounds for debate
The proliferation of gourmet coffee in the United States, both at boutiques and at large chains like Starbucks (NASDAQ: SBUX) and Dunkin’ Donuts (NASDAQ: DNKN), seems to indicate Americans have developed a particular taste for expensive coffee. But is it really the taste that’s driving demand? NBC’s "Today" show did a taste test at a New Jersey mall(video embedded below) and found about two-thirds of their testing pool preferred cheap deli coffee to what they characterized as “fancy gourmet…
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Shake Shack and 'Today'’s Al Roker cook up signature BBQ burger
Shake Shack — which has strategically come out with limited-edition offerings in the past — is at it again, this time tapping "Today" show weather and feature anchor Al Roker as a kitchen collaborator. Roker helped the New York-based company develop the Southern barbecue-inspired Roker Burger, which made its debut on Monday and will be available through Friday at all U.S. locations of Shake Shack, except for JFK airport, ballparks and stadiums, the company announced. There's one Capital Region…
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Sneak peek of the new Trump hotel's presidential suite
With less than a month before it officially opens, more details on the Trump International Hotel in D.C. are starting to trickle out. The latest is several views of the hotel's presidential suite, a three-bedroom, 4,000-square-foot space with three walk-in closets, its own fitness center and a full living room and dining room. The hotel, which is located at 1100 Pennsylvania Ave. NW in the Old Post Office Pavilion, is the result of a $200 million renovation by the Trump Organization during the…
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Doctor: When I realized that health care needed to change
A few years ago, I was invited to take a tour of a homeless shelter in one of the most impoverished neighborhoods in Albany. Interfaith Partnership for the Homeless is located in the heart of Sheridan Hollow, a community I normally drive over — not through — to get to work. Curious as to what I might see, I graciously accepted the offer. While touring the facility and meeting with the individuals who called this shelter home, I learned a couple of important things. The first was that none…
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NLRB ruling hands big victory to graduate students seeking to organize
Since a 2004 National Labor Relations Board ruling labeling them non-employees, graduate students at private universities have been hamstrung in their efforts to organize and bargain collectively. Today, in a widely-anticipated ruling, the NLRB has revisited that issue and determined Columbia University’s graduate students are employees, creating an opening for graduate students at institutions across the country to start organizing. Last March, The Christian Science Monitor laid out the main…
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This is how much time Albany area commuters spend in traffic each year
What would you do if you suddenly had two extra days each year? The average commuter in the Albany-Schenectady-Troy metro area spends about that much time, 42 hours a year, stuck in traffic, according to a new study from the Auto Insurance Center. That adds up to about three and a half months over a 40-year career. Albany metro commuters spend the most time in traffic of any upstate area. That's not even that bad: 42 hours is the average across the country. New York City commuters spend 74 hours…
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Albany native to take managing partner role at major Buffalo law firm
Kevin M. Hogan, an Albany High School alumnus, has been named managing partner of Buffalo law firm Phillips Lytle. Hogan, 54, will succeed David J. McNamara as the firm's managing partner Jan. 1. McNamara, who has been managing partner since 2007, decided to step aside to resume his practice focusing on business litigation and project development. Hogan has worked at Phillips Lytle for 25 years. He became partner in 2000. During his time at Phillips Lytle, Hogan has served as the Buffalo trial…
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