From Business Today:
It's a sad day for a proud Buffalo-area printing company. Quad/Graphics, which bought the former Worldcolor Press in Depew, announced it was closing the 400-job printer on George Urban Boulevard nine months after buying it. The giant operation printed magazines and books, including Harlequin romance novels. The printing company started as part of J. W. Clement, and was acquired by Arcata Graphics in 1965. In 1993, Qubecor World bought Arcata. Worldcolor Press bought the firm out of bankruptcy in 2008. Now Quad/Graphics says it is consolidating operations and moving the work to other facilities. A lamentable end to a great operation.
M&T Bank Corp. keeps putting up strong numbers. The Buffalo-based bank reported a 36% jump in profits for the first quarter this year. The tried and true banking model of conservative lending and intelligent investing and management has kept M&T above the morass that dragged so many banks down in recent years.
Sen. Kirsten Gillibrand is getting behind an effort by a Washington, D.C., company to build wind turbines in several upstate cities, including Buffalo. The company, D'Arcinoff Group, is seeking over $1 billion in tax credits for the massive efforts, which could employ up to 2,000 people in Buffalo. Details are very vague at this point, that the stalling of the wind energy effort around the country poses another threat. But, it's a nice idea. Let's hope.
HSBC Bank has cut 65 jobs in the Buffalo area. The jobs were in technology support and finance. Those let go will have priority in applying for other jobs at the global bank.
The Seigel, Kelleher & Kahn internal war continues. The firm is closer to being evicted from its Franklin Street headquarters in Buffalo. City Court Judge Craig D. Hannah turned down a request by the firm to dismiss an eviction complaint filed by former partner Herbert M. Siegel, who says the firm has stopped paying rent. It gets nasty when lawyers fight.
Who is getting hired, promoted and honored...