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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Sep 18, 1998
Page
5
The Central Bank announced plans to print rubles and lower reserve requirements to aid the troubled banking system and pay overdue state worker debts. Economists warn of hyperinflation risk as prices surged 43 percent in two weeks and banks submit lists of outstanding debts to improve liquidity.
Community Bank System Inc plans to repurchase up to 750000 of its shares, about 10 percent of outstanding common stock. As of June 30, 7622000 shares were outstanding, with a $26.06 closing price and a 3.5 percent annualized dividend. The program will run about a year and accompany a reduction in the investment securities portfolio.
Rural landowners can gain guidance on land management at a regional workshop from 9 am to 3 pm on September 26 at the Holiday Inn 75 North Street Auburn. Sponsored by Cornell Cooperative Extension of Onondaga and Cayuga Counties with the Syracuse Water Department, DEC, Soil and Water Conservation Districts and Cornell. Information via 424-9485 or 25-1188. Registration costs 20 dollars per person or 39 dollars for two.
Home Aides of Central New York is among 66 agencies chosen for a statewide project to measure home care quality. The 30 month effort is led by the state health department and involves collecting patient health status at start of care and every 60 days. The nonprofit Syracuse based agency is involved with Amber Smith.
The court affirmed a board’s decision expelling former Teamsters President Ron Carey amid allegations he approved an illegal scheme involving more than $800,000 of union treasury funds diverted for his re election efforts. Carey plans to appeal through his lawyer.
American Stock Exchange President Thomas Ryan urged that mergers with the NASD and Philadelphia Stock Exchange are vital to competitiveness. He noted expected SEC approval soon and highlighted technology upgrades toward electronic trading, lower costs, and faster, more exact price posting for investors.
The Syracuse area posted an August jobless rate of 3.6 percent, the lowest in 10 years, underlining near full employment. Area jobs rose about 1 percent from 1997, led by transportation and public utilities and aided by manufacturing, construction, wholesale and retail, and services.
The August 1997 Syracuse area employment report shows changes from the previous August with several sectors cutting jobs. Evans notes further growth depends on more people available to fill openings as the labor pool remains tight.
Local official notes the top deterrent to job growth in Central New York is a shortage of available workers as companies struggle to fill lower-wage positions. The statement highlights a regional labor market tightening and hiring challenges across the area.
Democratic Senate hopeful Charles Schumer outlined job creation as his top priority during a Syracuse visit. At Church and Dwight he proposed federal action to boost competition in electricity and airlines, cut property taxes via tobacco settlement funds, and provide tax breaks to firms creating jobs in distressed areas.
aS Kim DeRuby of Oneida joined Pass & Seymour Legrand as marketing manager for the consumer products division. DeRuby will implement marketing strategies product forecasting and for providing trade show support. Mr Peter C. Johnson executive vice president of O'Brien Gere Engineers in Syracuse was elected to four-year term on the University Council. The council is composed of skumini recognized for leadership in service to Cornell. B Chuck Bartlett North Syracuse graduate of LeMoyne College joined Exhibits and More Shopworks as an account executive in its Liverpool attire.
The Greater Syracuse Hospitality and Tourism Association announced 1998 scholarship winners Gali Van Etten, a Mohawk Valley Community College student, and a City front clerk at the Hotel Syracuse, each receiving 600 dollars for hospitality related career studies.
New York Comptroller H. Carl McCall warned the state risks a debt burden and budget deficit if current spending continues. He cautioned that Wall Street gains have masked structural weakness, citing upstate housing softness and a looming $5.5 billion gap in 2000 if trends persist.
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