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By Joe Nocera Bloomberg The day after Christmas 2001, Sam Waksal, the chief executive of ImClone Systems, began selling off shares in the company after learning that the Food and Drug Administration had rejected its application for a key cancer drug. As it happens, Waksal’s broker, Peter Bacanovic, also served as Martha Stewart’s broker, and because she and Waksal…

Business

By David Gelles, James B. Stewart, Jessica Silver-Greenberg and Kate Kelly Elon Musk was at home in Los Angeles, struggling to maintain his composure. “This past year has been the most difficult and painful year of my career,” he said. “It was excruciating.” The year has only gotten more intense for Musk, chairman and chief executive of the electric-car maker Tesla, …

Nation and World

By John Wagner WASHINGTON - President Donald Trump on Friday blamed local officials for his decision to postpone a grand military parade in Washington this fall, alleging without evidence that they had unreasonably inflated the price. “The local politicians who run Washington, D.C. (poorly) know a windfall when they see it,” Trump wrote on Twitter. “When asked to giv…

Local News

Rep. Chris Collins and his staff spun out a number of statements about Innate Immunotherapeutics as news outlets, including The Buffalo News, dug into the congressman's involvement with the company and his efforts to talk up the stock on Capitol Hill. Many of the statements look like they were falsehoods now that the Securities and Exchange Commission and federal prosec…

Local News

By Laurie Goodstein and Sharon Otterman Bishops and other leaders of the Roman Catholic Church in Pennsylvania covered up child sexual abuse by more than 300 priests over a period of 70 years, persuading victims not to report the abuse and law enforcement not to investigate it, according to a searing report issued by a grand jury on Tuesday. The report, which covered…

Latest Sabres

Karin Housley has won the Republican primary for the special Senate election to fill out the rest of Al Franken's term, the AP reported Tuesday night. Housley, the wife of Buffalo Sabres coach Phil Housley, has been a state Senator in Minnesota since 2012. She will now go on to run in the general election in November. She tweeted a thank-you message to her supporters…

Featured

Developer Carl Paladino, one of the most high-profile Republicans seeking to replace indicted Rep. Chris Collins, is lashing out at another high-profile contender – Erie County Comptroller Stefan Mychajliw. And that's a U-turn for Paladino, one of Mychajliw's biggest campaign contributors in the past. "He called me yesterday morning," Paladino said Monday of Mychajli…

Local News

WILLIAMSVILLE – Congressman Chris Collins (NY-27) Saturday released the following statement: "Democrats are laser focused on taking back the House, electing Nancy Pelosi Speaker and then launching impeachment proceedings against President Trump. They would like nothing more than to elect an 'Impeach Trump' Democrat in this District, which is something that neither our c…

Politics

WASHINGTON – As a longtime director and shareholder of an Australian company, Rep. Chris Collins has been sort of a worldly guy. But now the world is focused on him. "Pro-Trump U.S. congressman indicted for insider trading," the Bangkok Post tells us. "Indictment of Rep. Chris Collins highlights problems with lawmakers serving on corporate boards," laments the Jap…

Local News

Trying to get re-elected while facing criminal charges is a tough task, especially for sitting members of Congress. Chris Collins, the Clarence Republican indicted Wednesday on insider trading charges, is at least the 25th sitting member of Congress since 1987 to have been indicted while in office. Collins, who called the charges against him "meritless," said he will…

Local News

Rep. Chris Collins has been removed from the House Energy and Commerce Committee by House Speaker Paul Ryan, Ryan said in a statement on his website. “While his guilt or innocence is a question for the courts to settle, the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee," Ryan said. Insider trading is a clear vi…

Clarence

Rep. Chris Collins "acted as if the law didn't apply to him," federal prosecutors said Wednesday outlining a criminal case brought against the Clarence Republican. Collins has been charged with insider trading and lying to the FBI, prosecutors said. “These charges are a reminder that this is a nation of laws and that everybody stands equal before the bar of justice,"…

Politics

WASHINGTON — John L. Sinatra Jr., nominated to be Buffalo's next federal judge, told a Senate panel Wednesday that he would consider recusing himself from any case involving Rep. Chris Collins, given that the would-be judge's brother is the congressman's business partner. At a confirmation hearing for several judicial candidates before the Senate Judiciary Committee, Se…

Business

By Mihir Zaveri MoviePass, the subscription-based movie ticket service, was forced last week to borrow $5 million after it reported it could not pay its bills, raising new questions about the embattled company’s viability. Helios and Matheson Analytics, its parent company, said in a regulatory filing Friday that MoviePass had experienced a “service interruption” the …