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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Oct 07, 1998
Page
5
Niagara Mohawk Power Corp saw about 45.5 million invested Tuesday as over 3.8 million NiMo common shares traded. A large block of 3,084,260 shares was sold by Donaldson, Lufkin & Jenrette, with NiMo closing at 14.75, down 0.0625.
The U S Small Business Administration will close its temporary disaster loan office at the Onondaga War Memorial in downtown Syracuse at 6 p.m. Thursday. Homeowners renters and business owners with Labor Day storm damages can still obtain loan information by calling 800 659 2955. The application deadline is November 13.
German publisher Bertelsmann AG agreed to acquire a 50 percent stake in Barnes & Noble's online unit barnesandnoble.com for 200 million dollars. Each company will contribute 100 million, creating a major Internet bookseller to compete with Amazon. The venture aims to revive a struggling operation and expand online reach.
Global finance chiefs clash over a clear plan to curb the worst economic crisis in decades. Rubin signals urgent steps while Bush era reforms, IMF funds, and a Brazil rescue loom. Blair ponders emergency talks in London as Japan plans bigger stimulus. Camdessus and Wolfowitz vow major agency changes.
Richard Eads took over as executive director of Cortland County Business Development Corp and Industrial Development Agency on August 3, amid a regional downturn. He aims to market the county, visit firms and trade shows, and boost job creation after major manufacturers left. Cortland’s August unemployment reached 7.2 percent, higher than most areas, with Buckbee-Mears and Rubbermaid cutting hundreds of jobs. Eads cites vacant plants, water infrastructure, and flat land along Interstate 81 as advantages, drawing on prior Tioga County development success to rescue Cortland’s economy.
Onondaga Community College and the Manufacturers Association of Central New York signed a formal agreement creating the OCC MACNY Alliance. The alliance leverages OCC's Applied Technology Center to offer rapid training, with MACNY moving its programs to the center to train supervisors and employees, aiming to deliver help within 48 hours of contact.
Pittsford based Montana Mills Bread Co seeks expansion into the Syracuse market after a private stock sale raised 2.4 million. Founders Suzy and Gene O Donovan report a building deal fell through and they are scouting about 2000 square feet in DeWitt while continuing to serve Rochester and Buffalo customers with their back to nature breads.
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