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September 07, 2008

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Greek Peak obtains financing for hotel-water park project

By: Kevin Tampone

VIRGIL - Greek Peak Mountain Resort has wrapped up financing for construction of its Hope Lake Lodge and Indoor Waterpark Resort.

The resort is scheduled to open in the fall of 2009.

The $33 million package of loans includes $23 million for

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Paterson calls for no spending increases from state agencies

Gov. David Paterson today directed the heads of state agencies to hold spending requests for next year's budget to current-year levels.

"We cannot continue making excuses for why the state is unwilling to limit its expenses at a time when

Upstate home sales mixed in July

Sales of existing single-family homes in upstate New York were relatively flat or slightly lower in July compared to totals from a year ago, according to new data from the New York State Association of Realtors (NYSAR).

Sales in Onondaga County

M&T acquires Maryland-based brokerage firm

BUFFALO - M&T Securities, Inc., a unit of M&T Bank Corp. (NYSE: MTB), has acquired an investment business from PNC Investments, LLC.

The business was formerly Peremel & Co., established in 1974 and located in Maryland. Peremel was acquired by

Brown & Brown acquires insurance operations of Shaughnessy Agency

SYRACUSE - Brown & Brown Empire State has acquired the assets of a small Syracuse insurance agency in a move it believes will boost its personal insurance business. And more deals may be on the way.

The acquisition of Shaughnessy Agency, Inc.

Pioneer brokers sale of O'Brien & Gere building

DeWITT - Although The Pioneer Cos. brokered the sale of O'Brien & Gere's 186,000-square-foot Britton-field Parkway headquarters last week, the firm was ready and willing to buy the building itself, its president says.

Pioneer, a real-estate

Metro Paper expands Carthage plant

CARTHAGE - A Canadian company, called Metro Paper Industries Tissue Group, is investing $2 million in new equipment and an expanded work force at its Metro Paper Industries of N.Y. Inc. unit in Carthage.

The 240,000-square-foot plant at 695 West

BANK/FINANCE

M&T acquires Maryland-based brokerage firm

BUFFALO - M&T Securities, Inc., a unit of M&T Bank Corp. (NYSE: MTB), has acquired an investment business from PNC Investments, LLC.

The business was formerly Peremel & Co., established in 1974 and located in Maryland. Peremel was acquired by

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FROM THE PUBLISHER

Creative Destruction In Central New York

On Friday, Feb. 14, 1997, four New Process Gear (NPG) employees were schmoozing at a bagel shop in downtown Syracuse. They regaled each other with plans to spend the bonus checks just announced by NPG, according to a Central New York Business

TEEING OFF / FROM THE EDITOR

SU Football Faces Do-Or-Die Moment

Just eight days away from opening kickoff, it's an understatement to say this is a pivotal season in the attempted revival of the Syracuse University (SU) football program. It's now or never for head coach Greg Robinson and his staff to make a

VIEWPOINTS/OP-EDS

The Pros And Cons Of Offering 401(k) Loans To Employees

In the current housing and banking crisis, it has become more difficult for consumers to obtain credit based upon the equity in their homes because of the decline in housing values and the tightening of lending standards.

Consequently, increasing

CNY PEOPLE ON THE MOVE 9/5/2008

ACCOUNTING

Terrence W. McCarthy, a partner at Green & Seifter, Certified Public Accountants, PLLC, was recently appointed to the YMCA of Greater Syracuse Board of Directors. McCarthy has more than 25 years of accounting experience and is a member

Top Ranks Lists

The 2008 Book of Lists electronic edition may be downloaded in Excel format. These 57 lists include key business information (when available) such as number of employees, revenue, products/services offered, and top executives for each company.