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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Mar 14, 2001
Page
5
Inventory levels increase by 8.4 percent as business sales remain strong. Analysts note sustained demand on Wart Street, with stores reporting stable turnover and cautious outlooks for the coming quarter.
Mark Russell Associates won an Ad Club award for a stint ad created for Asa Dental at the Onondaga Center. The firm earned one of 116 awards in 33 categories announced at the event attended by about 550 people. Forty seven Central New York companies submitted a record 550 venues for this year’s awards.
Kynart Corp reports a 4 percent fall in fiscal fourth quarter earnings, beating Wall Street expectations narrowly. The nation’s third largest retailer posted 249 million dollars or 48 cents per share for the week ended January 31, compared with 452 million and 77 cents per share a year earlier, with analysts forecasting 47 cents.
Motorola Inc slashed 7000 jobs Tuesday in its cell phone division as part of a large cost cutting program that has trimmed the workforce by more than 10 percent since December. The Schaumburg based company said the reductions will occur by summer and affect manufacturing, engineering and administrative roles worldwide.
Matthew Broderick and Peter Larson were named partners at Ashley McGraw Architects P.C. in Syracuse, both Syracuse University graduates with seven years at the firm. Gina Panighetti was promoted to elder law and estates at The Sugarman Law Firm, and Charlie Manro of Manro Menswear was elected to the National Board of the Custom Tailors and Designers Association in Scottsdale, Arizona. Manro also leads Armory Square Association and serves on the Syracuse Rotary Club board.
Chartey Hanna reports on a poignant closing chapter as a long era ends, reflecting on the people, places, and moments that defined the period and the impact on the community. The piece captures memories, sadness, and the sense of transition.
Pietrafesa Corp plans a bankruptcy ending with an auction of its equipment after 8 years in Central New York. The June filing in Delaware seeks protection from $29 million in debts. Union leaders recall hopeful reopenings while workers face layoffs as plans to restart faltered. An auction in Baltimore will sell the plant’s machines.
Syracuse Plastics Inc announced plans to acquire the old Pietrafesa clothing plant in Clay for 2.35 million as it expands from Fayetteville and Cary. The move comes as the company delays layoffs and seeks space after outgrowing its Fayetteville factory, with related transactions awaiting court approval and regulatory clearance.
TransCanada Pipelines Ltd of Calgary agrees to acquire the 60 megawatt Curtis Palmer hydroelectric facility near Corinth from International Paper for 285 million. The plant sells power under a long term contract to Niagara Mohawk, with impact on neighboring mills and state regulatory context.
The article reports Target narrowing in on Central New York with plans to open stores in Ithaca Onondaga County and Onondaga County malls. It notes potential locations at Carousel Center DeWitt and Great Northern Mall Clay with Wilmorite as developer and speculation on competing department stores filling space.
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