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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jul 24, 2001
Page
14
The New York Independent System Operator activated circuit breakers to cap wholesale prices after high priced offers from downstate plants surfaced Sunday and Monday. Automatic bids were lowered to the generators average of the past 90 days, while officials said they could not explain how the savings were achieved.
The Walt Disney Co will acquire Fox Family Worldwide Inc for 3 billion in cash and assume 2.3 billion in debt. The deal adds Fox Family Channel to Disney’s portfolio alongside ESPN Disney Channel A E and Lifetime, reaching about 81 million U S cable subscribers and expanding distribution for Disney brands.
Bristol-Myers Squibb announced a nearly 250 million expansion of its New Brunswick campus to enhance research and development for cancer HIV and hepatitis B therapies. The project aims for completion in 2003 and will create about 120 jobs. Inside Radio sues Clear Channel for 115 million over alleged slander and business-damaging campaign in Manhattan federal court. Clear Channel owns seven Syracuse stations including WSYR AM WHEN FM WYYY FM WBBS FM WVHQ FM WPHR FM and WVHT FM.
Jacqueline Jackson-Young of DeWitt appointed administrator of OASIS Health Center sponsored by University Hospital Upstate Medical University and Kaman's Department Store. Marilyn Sharon of Syracuse named coordinator of OASIS peer senior support service a free confidential volunteer counseling service for OASIS members. Jaye Fish joins Planned Parenthood of Rochester Syracuse Region as corporate director of resource development. Patrick J. O'Sullivan of Syracuse certified as member of The Million Dollar Advocates Forum.
Carrier asks North American staff to volunteer five days of unpaid furloughs by year end to trim costs. About 1,750 of 3,500 at the DeWitt campus may participate. The plan spreads the impact over 10 pay periods. supervisors must approve. Company has cut 280 jobs since June and may adjust facilities as sales slump.
Syracuse University continuing education unit University College launched Syrtis to design develop and deliver technology enhanced instructional solutions for employers. The 11 person team operates from Marshall Square Mall providing blended learning options including custom courses and evaluation methods for clients such as Excelsus Health Plan Telergy and other partners.
Syracuse University hosts the newly formed Central New York Family Business Center launching Thursday with a seminar titled Perpetuating the Family Owned Business The Ultimate Management Challenge led by Crag E Aronaoff founder of The Family Business Consulting Group and Pamly Enterprise Center founder The Growth Partnership CEO Jeff Pawlow notes the center will hold six programs yearly with a 750 annual membership for two attendees and sponsors including Pasquale and Bowers Fleet Bank DeLaney and O Connor New England Financial and others.
Five banks with local ties released second quarter results. Community Bank Systems posted a 67 percent drop in net income to 21 million due to one time acquisition costs. JP Morgan Chase reported revenue of 89. billion and net income of 378 million, with a 6 billion stock buyback plan. Alliance Bancorp earned 136 million, down from 141 million, while PathFinder Bancorp grew to 356 thousand dollars. BSE Bancorp and HSB Bank saw profits decline, and BSB faced loan-related hurdles including an 11 million loan to a bankrupt designer.
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