From Business Today:
Retailers in Western New York know what a boon Canadian shoppers are to their bottom line, but businesses in other industries apparently don't, according to new market research. Visiting Canadians spent $933 million here last year, but just 13 percent of it was spent on sightseeing and recreation. That's an untapped audience with huge potential and spending clout. Executives from Visit Buffalo Niagara and the Niagara Tourism and Convention Corp. shared ideas for how local businesses could better take advantage of the opportunity at two seminars Monday.
A public authority oversight agency has determined that, according to current laws, a company that eliminated workers here committed no job piracy. After taking 15 years of tax breaks from the ECIDA, VWR Education eliminated 41 jobs at its warehouse in the Town of Tonawanda. At the same time, it added seven jobs at its facility near Rochester, and received tax breaks from the Monroe County IDA for doing so. Politicians and activists filed a complaint, saying the company was shifting jobs around New York State at taxpayer expense, but the New York State Authorities Budget Office disagreed, according to a report resulting from its investigation.
Profits were up during the first quarter at a Buffalo-based information technology staffing and services company. Computer Task Group saw an 18.8 percent increase in profits. It reported net income of $3.36 million, or 20 cents per share, up from 42.83 million, or 17 cents per share, compared to the same period a year ago. The increase is attributed to higher revenues, especially from electronic medical records and other health care technology solutions.
After being ordered by state regulators to check their insurance records against federal death data, life insurance companies found that hundreds of millions of dollars in insurance policy claims have gone unpaid. More than 30,000 policies and $262.2 million in benefits went unpaid because insurers failed to check whether their policyholders had died. In New York State, 7,525 policyholders have received $95.9 million in unpaid benefits. The results came after an investigation was launched by the state Department of Financial Services. To search for a lost policy, click here.
Who is getting hired, promoted and honored?
Looks like another lovely spring day: