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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jan 04, 2001
Page
4
In Washington D C negotiators gathered with Sen Patty Murray to finalize a tentative agreement with strikers. Details on the settlement were withheld pending an official announcement later in the day.
Markets rally after the Federal Reserve delivers a surprise half-point rate cut, sparking a Nasdaq surge in what traders call the best day for shares. The move, larger than expected, comes ahead of the Fed’s next meeting slated for late January.
Richard Toth of Toth Consulting and Communications in Syracuse received the bronze shaker award from the Central New York Chapter of the Public Relations Society of America for the Xo Substitute campaign and blood drive communications program. The Red Cross Blood Services New York-Penn Region and Toth collaborated to evaluate design, distribution, and usage of information, plus sponsor feedback on the 1999 fall-winter drives. Scott A. George, CFP, became president of Strategic Retirement Plans Inc. in Etica, focusing on 401(k) and other qualified plans. George previously worked with MassMutual in Syracuse. New appointments in Information Technologies include Susan A. Inman, Theresa B. Trusskey, Steven J. Buglione, and Sharon Staub. Susan Pegs noted.
Solvay Paperboard filed suit in Cincinnati seeking 6 million in damages and a permanent injunction to prevent General Data from using its software. The complaint alleges defective software, not Y2K compliant, and aims to block the program’s removal.
Smith Corona Corp will close its Cortland headquarters and move out by February end as Pubco Corp of Cleveland buys a 49 percent stake and plans to relocate remaining Cortland and San Diego operations. The firm filed for Chapter 11 in Delaware last year and once employed about 5,300 workers.
The Labor Department accuses Crucible Materials Corp of improperly converting stock in a defined benefit pension plan for salaried employees. The suit alleges changes shifted assets from preferred to common stock, affecting about 1,795 active and retired participants with roughly 54.3 million in assets as of 1998. The company says it has not received formal papers.
In Albany a state Supreme Court judge ruled Pyramid Cos affiliates could not use their own income and expense statements to prove the town of Guilderland overassessed Crossgates Mall. The decision cites Pyramid’s failure to provide requested financial records and three court order violations dating from 1996. The ruling forecloses tax years 1993–1996 aspects, with Pyramid having 30 days to appeal.
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