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Thursday, March 18, 2010
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Banking and Finance

	Banks to transfer to full local ownership by Kevin Tampone
	Local shareholders of USNY Bank plan to buy out the 51 percent stake of Capitol Bancorp Limited (NYSE: CBC) in the Bank of the Finger Lakes and the Bank of Cooperstown. The two institutions together hold more than $64 million in total assets and employ 16 people. USNY launched in 2007 as the local holding company for the banks.

	SEFCU eyes CNY for expansion by Kevin Tampone
	SEFCU, an Albany–based credit union, is planning a major expansion of its presence in the Syracuse area in the coming years.

	USDA program will guarantee loans for rural businesses by Eric Reinhardt
	The Rural Development Agency of the U.S. Department of Agriculture (USDA) has more than $50 million in economic-stimulus funding available to help small businesses. The funding is part of the agency's Business and Industry Loan Guarantee Program. The program is meant to create jobs and promote private investment in rural areas, according to the USDA.

	Gillibrand pushes bill to increase lending by credit unions by Kevin Tampone
	U.S. Sen. Kirsten Gillibrand was in Syracuse today pushing legislation to raise lending limits on credit unions. The legislation, the Small Business Lending Enhancement Act, would raise the cap on credit union business lending from 12.25 percent of an institution's total assets to 25 percent. It would also increase the minimum loan amount subject to the cap from $50,000 to $250,000.

	Citizens adding ATMs at Sunoco locations by Eric Reinhardt
	Citizens Financial Group, Inc. today announced it is adding ATMs under the Citizens Bank brand at nearly 500 Sunoco APlus convenience stores in 13 states, including 108 in New York. Citizens plans to have the majority of the new machines installed in APlus convenience stores within Citizens' traditional retail footprint, including areas of New York, Pennsylvania, New Jersey, Delaware, Massachusetts, and Rhode Island.

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Business Of The Week

	Sprock keeps Rome Savings on track
	ROME - Rome Savings Bank gave Charles Sprock a summer job in 1960. In June, Sprock will celebrate his 49th year with the company - the last 29 of them as president and CEO. "The summer job grew into an i

ViewPoints

	Tips to Help Financial Institutions Avoid a Security Breach
	Since 2004, identity theft has victimized over 27 million Americans or one-tenth of the total U.S. population, according to Credit Union Magazine. Of that 27 million, almost 10 million Americans were victimized in 2008 alone.

Featured Channel

	Lead CNYBJ Syracuse firm acquires Geneva packaging company
	A local company has acquired the assets of a Geneva-based packaging firm. The local company, Syracuse-based Lauraville Packaging, LLC, is a newly formed subsidiary of Quarry Road Holdings, LLC, also of Syracuse. The new subsidiary acquired the assets of Lauraville Specialty Products, LLC of Geneva.

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Banking/Finance

Education/Training

Employee Benefits & HR

Insurance & Financial

Sustainable Business

Workforce & Economic

OPINIONS

From The Publisher

	Explaining “risk” to the White House
	Risk: “The possibility of suffering harm or loss.” (American Heritage Dictionary, 3rd edition) In his opinion piece in the March 5 issue, The Central New York Business Journal’s editor-in-chief, Adam Rombel, wrote about uncertainty in the business community. The result of this uncertainty is employers’ continuing reluctance to take risks.

ROMBEL ON BUSINESS blog

	Is the Jobs Picture Getting Any Clearer or Brighter?
	To say the job market has been slow to recover is a vast understatement. Even though the economy grew for the entire second half of last year — 2.2 percent in the third quarter and 5.9 percent in the fourth quarter — employers have continued to cut jobs and have been reluctant to hire.

VIEWPOINTS/OP-EDS

	The Velocity of Money and Your Business: Why It Matters
	On Feb. 19, the Federal Reserve Board raised the discount rate from one-half to three-quarters of 1 percent. This change of one-quarter of a percentage point in the little-used primary credit window resulted in an immediate leap of the U.S. dollar to nine-month highs. Overnight, the value of the dollar rose 0.82 percent and 0.31 percent against the Euro and the Yen, respectively.

On The Move

	PEOPLE ON THE MOVE - GB -3/15/20010
	ARCHITECTS Jeffery T. Smith, partner and architect at Chianis & Anderson Architects, PLLC, has been honored by the American Institute of Architects’ National Board of Directors as a Citizen Architect for his commitment to his community and to the architecture profession. Among his current positions, Smith serves on the Village of Owego Historic Preservation Commission and the City of Binghamton Commission on Architecture and Urban Design.

Market Research

Top Ranks Lists
The 2010 Book of Lists electronic edition may be downloaded in Excel format. These 62 lists include key business information (when available) such as number of employees, revenue, products/services offered, and top executives for each company.

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