Economy and Business

This November voters in New York will decide whether the state will allow up to seven new resort style gambling casinos, when they have the choice of saying yes or no to an amendment.  But the wording of the actual referendum on the ballot may increase the odds of the new casinos being approved.

Most ballot referendums proposing constitutional changes are written in very drab, and even confusing language.  But the proposal to change the state’s constitution to allow up to seven new gambling casinos is different.

An upstate pro-business group says regions of the state north of Westchester need special attention in the coming months to help the floundering economy. The group Unshackle Upstate is proposing a series of tax cuts, as well as a start to fracking as the remedy.

This November, voters will get a chance to decide whether to expand gambling in upstate New York. But because of a quirk in the election calendar, it’s likely that downstate voters will be the ones to make that decision.

Governor Cuomo and the legislature agreed in June to allow up to four new resort style gambling casinos upstate. Locations include the Catskills, Southern Tier and Capital- Saratoga Regions.  Other areas of the state already have casino gambling run by Indian tribes.

Governor Andrew Cuomo will travel to three towns in Western New York today to deliver gambling revenue owed to the Seneca Nation. The governor will deliver $140 million held by the state because of a long-running tax revenue dispute with the tribe.

The trip comes a day after the governor signed a bill legalizing casino gambling in New York. The bill changes the state constitution to allow four full-scale casinos in Upstate New York, but will have to be approved by voters in November. Currently, only tribal casinos are allowed in New York.

The State Public Service Commission is extending a  public comment period on whether it’s a good idea for  Verizon to stop providing land line service  to some customers and supply a wireless telephone connection instead.

In a court filing on the company’s Chapter 11 bankruptcy proceedings Monday, Endicott Interconnect Technologies revealed that one of its shareholders has entered a bid to buy it.

Integrian Holdings is owned by James T. Matthews and has made a $250,000 offer to buy Endicott Interconnect. Matthews is a minority shareholder in Endicott Interconnect, which is wholly owned by members of his family.

According to court documents, the 600-employee company has $16 million in secured debt and tens of millions of dollars more in unsecured debt.

Update: On June 24th, Binghamton Mayor Matt Ryan and BLDC Executive Director Merry Herris announced Ben Giordano, owner of FreshySites, as the 2013 winner.

 

The Senate Judiciary Committee spent Tuesday amending the 844-page immigration reform bill, legislation that includes changes to guest worker programs. And as the Innovation Trail’s Matt Richmond reports, that may mean good news for farmers in New York.

Read the complete story.

Governor Cuomo outlined the details of his plan to site three gambling casinos upstate.

Cuomo, joined by union and business leaders, and representatives from county governments, offered more details of a plan to build three new gambling casinos. Cuomo says he wants to limit the locations to upstate regions for now, to prop up the failing economy.  The governor says upstate needs jobs like it needs “oxygen”. And he says having a downstate location would devalue the upstate centers.

Consolidation

May 8, 2013

 Consolidation is a hot topic these days, one being pushed by Governor Cuomo as a possible solution to the fiscal crisis many local municipalities find themselves in. Whether discussing the consolidation of small towns and villages, or the merger of school districts, residents across New York State are divided on the issue.  Some believe that it could help lower the fiscal burden of the state.  Critics claim that consolidation will not save much money, and that community identity could be irrevocably lost in the process. 

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