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Honeywell transfers Onondaga Lake Visitor Center to state DEC
GEDDES, N.Y. — Honeywell International, Inc. has transferred the Onondaga Lake Visitor Center on the lake’s southern shore to the New York State Department of Environmental Conservation (DEC). The visitor center is located at 280 Restoration Way in the town of Geddes. The center will feature informative displays about the historic cleanup and restoration of […]
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GEDDES, N.Y. — Honeywell International, Inc. has transferred the Onondaga Lake Visitor Center on the lake’s southern shore to the New York State Department of Environmental Conservation (DEC).
The visitor center is located at 280 Restoration Way in the town of Geddes.
The center will feature informative displays about the historic cleanup and restoration of Onondaga Lake, its tributaries, and watershed, the DEC said in its announcement.
The visitor center will retain its name and following renovations, it will become a public outreach facility operated by DEC’s Bureau of Environmental Education.
Honeywell originally built and opened the visitor center in 2012 to share information with the public about the cleanup and the history of Onondaga Lake. Displays in the visitor center showcase the cleanup plan and progress, return of native plants and animals, and habitat restoration and enhancements.
“Onondaga Lake is an incredible natural resource and the cleanup of one of New York’s most polluted waterbodies is an undeniable success story,” DEC Commissioner Amanda Lefton said in the announcement. “DEC embraces the opportunity to help New Yorkers and visitors alike learn about the history of the lake and its cleanup and the ecosystems its rebirth is helping to support and thrive.”
The DEC will operate the center seasonally, April through October, and serve as a point of contact for environmental and educational organizations interested in hosting events or programming at the lakeside location. By fostering partnerships with local colleges and universities, including the SUNY College of Environmental Science and Forestry, the center will provide learning and career-development opportunities for students of all ages, the department noted.
The DEC works with the U.S. Fish and Wildlife Service to oversee implementation of Natural Resource Damage Assessment and Restoration Plan Projects for Onondaga Lake. The transfer of the center to the DEC was among the plan’s requirements, the department noted.
Onondaga Lake cleanup, restoration
Crews completed cleanup activities for Onondaga Lake in 2016 in accordance with the 2005 Record of Decision, the DEC said.
The department continues to oversee the completed cleanup and Honeywell’s ongoing monitoring of the lake-bottom cap to “ensure it remains effective and fully protective of public health and the environment.”
In its announcement, the DEC also said, “Significant progress continues to be made in cleaning up Onondaga Lake and its tributaries and watershed, enabling Central New Yorkers to once again connect to this important resource. Dramatic improvements in wastewater and stormwater management, coupled with tremendous progress in cleaning up historical industrial contamination, have improved water quality and aided in the return of native plants and animals. With these improvements, the lake is once again becoming a destination for outdoor enthusiasts, while serving as a source of community pride.”
New York State has announced two projects totaling $42 million to rehabilitate key stretches of Interstate 88 (I-88), including a portion in the Southern Tier.
Onondaga County Health Department seeks input on overall health of the community
SYRACUSE, N.Y. — The Onondaga County Health Department says it’s preparing a Community Health Assessment and wants to learn more about what local residents think
Broome County plans for 85 miles of roadwork this summer
BINGHAMTON, N.Y. — Broome County is planning for a record amount of roadwork completed this summer for the fifth summer in a row, County Executive
Downtown Syracuse Farmers Market set for 2025 weekly seasonal operations in Clinton Square
SYRACUSE, N.Y. — The Downtown Syracuse Farmers Market returns to Clinton Square for its 53rd season on Tuesday morning. The seasonal, weekly event is available
Wolfspeed’s future unclear after recent stock drop, bankruptcy reports
MARCY, N.Y. — A spate of top executive changes, high debt load, and reports of a potential, pending bankruptcy filing sent Wolfspeed Inc.’s (NYSE: WOLF) stock price tumbling in recent weeks. What does it all mean and what’s to come for the Durham, North Carolina–based tech company, which operates a silicon-carbide wafer fab in Marcy?
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MARCY, N.Y. — A spate of top executive changes, high debt load, and reports of a potential, pending bankruptcy filing sent Wolfspeed Inc.’s (NYSE: WOLF) stock price tumbling in recent weeks.
What does it all mean and what’s to come for the Durham, North Carolina–based tech company, which operates a silicon-carbide wafer fab in Marcy?
The answer is unclear. Wolfspeed officials did not respond to requests for comment or an interview on May 30 with CNYBJ.
A May 20 Wall Street Journal article reported the company is considering filing for pre-packaged bankruptcy. In the wake of that article, Wolfspeed’s stock fell nearly 60 percent from May 20, when it closed at $3.13 per share, to May 21, when it closed at $1.28 per share, on a surge in trading volume. The stock didn’t stage much of a rebound over the next three weeks, closing at $1.45 on Monday, June 9.
CNYBJ checked in with area economic-development officials for reaction to the Wolfspeed news.
“We are aware of the recent reports regarding Wolfspeed’s potential consideration of a bankruptcy filing,” Mohawk Valley EDGE President Shawna Papale said in a May 29 email response to CNYBJ’s request for comment. “At this time, no official filing has been made, and we believe it is important not to speculate on the company’s internal decisions. Wolfspeed has consistently demonstrated resilience in the face of challenging economic conditions, and we remain strongly aligned with their mission. Our ongoing conversations with Wolfspeed and our industry partners reflect our shared commitment to the success of the Mohawk Valley Fab at the Marcy Nanocenter. Our priority is to ensure continued operations and workforce growth at this critical facility. Mohawk Valley EDGE remains closely coordinated with our local, state, and federal partners to support Wolfspeed’s long-term success and to maintain the region’s leadership in advanced manufacturing.”
Personnel changes
In the C-suite, Wolfspeed has been making changes since late last year when the board ousted former CEO Gregg Lowe, who has since been replaced by Robert Feurle. However, the changes haven’t ended there.
On April 30, Wolfspeed announced CFO and executive VP Neill Reynolds would depart the company on May 30. On May 28, Wolfspeed announced that Kevin Speirits, 65, currently the company’s senior VP of finance, will serve as interim CFO, effective May 30, while the company conducts a search for a permanent CFO.
Wolfspeed on May 23 brought back a former executive from the days when it operated under the Cree name to fill a newly created role at Wolfspeed. David Emerson is the company’s new chief operating officer, a role responsible for overseeing operational excellence across the company’s 200-millimeter facility footprint with a goal of reducing customer lead times. In the role, Emerson is also responsible for the operations, supply chain, and quality divisions. He previously served as executive VP of the company’s LED products division.
Wolfspeed also added two new board members that bring industry and financial experience to their roles. Paul Walsh most recently served as CFO of Allegro Microsystems, while Mark Jensen most recently served as U.S. managing partner for the technology industry at Deloitte. Both will serve on the board’s audit committee.
Wolfspeed on May 8 reported a net loss from continuing operations of $285.5 million in its fiscal third quarter ending March 30, nearly double its net loss of $148.9 million for the fiscal third quarter of 2024.
The company also reported an almost 8 percent drop in revenue in the latest fiscal quarter, with net revenue falling to $185.4 million from $200.7 million for the same quarter a year ago. However, revenue from Wolfspeed’s Marcy facility increased. The Mohawk Valley Fab contributed $78 million in revenue in this year’s fiscal third quarter, up from $28 million in revenue for the third quarter last year.
While the company did not take questions during its May 8 conference call to discuss the quarterly results, it did include Board Chairman Tom Werner on the call.
Wolfspeed has been taking steps to improve its capital structure, he said, including aggressive steps to strengthen its balance sheet, raising cost-effective capital needed for the company’s long-term growth plan, and dramatically improving financial performance and generating positive free cash flow.
“I’m pleased to report that we made notable progress on these priorities this past quarter,” Werner said. “Related to improving our balance sheet, we received approximately $192 million in cash tax refunds from the Section 48D Advanced Manufacturing Tax Credit, further boosting our liquidity. Additionally, we remain actively engaged with our lenders addressing our capital structure. Next, we continue to maintain a constructive dialogue with the Trump administration and the CHIPS Program Office regarding federal funding.”
Reynolds noted that the company’s simplification and restructuring initiatives continue with a goal of $200 million in annual cash savings. Efforts toward those goals included shuttering a 150-millimeter epitaxy facility last December with plans to sell the facility. Wolfspeed also plans to close its 150-millimeter wafer facility in Durham, North Carolina by the end of this year. The company has also reduced its workforce by 25 percent.
“We need to return to the core innovation that built Wolfspeed’s leadership,” Werner said during the earnings call. “That means recommitting to the technologies and markets where silicon carbide delivers the greatest impact and where Wolfspeed has the clearest right to win. With the right foundation in place, we believe we’re positioned to execute and win.”
McFarland Johnson opens new office in Texas
BINGHAMTON, N.Y. — Binghamton–based planning, engineering, and construction-services firm McFarland Johnson is expanding its reach in Texas with a new office in Brownsville. The expansion
Dot Transportation launches in-house driver-training school at Liverpool distribution center
SALINA, N.Y. — Dot Transportation, Inc. (DTI) says it has launched an in-house, driver-training school at the company’s Liverpool distribution center in the town of Salina. DTI is the affiliate trucking company of Dot Foods, which describes itself as North America’s largest food-industry redistributor. Through DTI’s in-house driver training school, student drivers can earn their
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SALINA, N.Y. — Dot Transportation, Inc. (DTI) says it has launched an in-house, driver-training school at the company’s Liverpool distribution center in the town of Salina.
DTI is the affiliate trucking company of Dot Foods, which describes itself as North America’s largest food-industry redistributor.
Through DTI’s in-house driver training school, student drivers can earn their Class A commercial driver’s license (CDL) in 12 weeks, compared to the 16 to 18 weeks “typical of external programs,” DTI said in its announcement. Participants are paid $800 per week during training, with no out-of-pocket tuition. DTI covers the cost through a $1,500 prorated loan, which is “fully forgiven” after two years of employment.
“Our drivers keep this company running,” Sean Walsh, director of transportation at DTI, said in the announcement. “They’re out on the road making sure our customers get what they need. We’ve been fortunate to partner with great schools in all of our communities; a few years ago we opened our first in-house school at our Maryland facility to help us get qualified drivers into our training program sooner and set them on a clear path to a solid career with support from day one. It was a big success, and we’re excited to have that model in place here at our New York facility.”
DTI is looking to hire about 25 truck drivers in Liverpool in the coming months to meet “growing customer demand and support continued business growth,” it said. The new driver-training program gives individuals an opportunity to earn their commercial driver’s license while starting a long-term career with the company, DTI added.
The training includes four weeks of classroom instruction and hands-on learning in DTI’s truck yards, where student drivers get familiar with company equipment and meet in-house support teams. That’s followed by eight weeks of over-the-road training alongside experienced DTI driver trainers. Graduates move directly into full-time driving roles with DTI.
Former Syracuse Fire Station 7 to be converted into apartments, restaurant under proposal
SYRACUSE, N.Y. — The former Syracuse Fire Station 7 would become a new restaurant and apartments under a proposal the City of Syracuse announced Wednesday.
Centro’s new CEO knows the feel of the driver’s seat
SYRACUSE, N.Y. — The man who now leads Centro has operated buses during special events amid the current bus-driver shortage. Christopher Tuff obtained his commercial driver’s license (CDL) in 2017, and like other Centro drivers, attends regular training and safety programs. Centro says Tuff was driving one of the buses during the Red Hot Chili
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SYRACUSE, N.Y. — The man who now leads Centro has operated buses during special events amid the current bus-driver shortage.
Christopher Tuff obtained his commercial driver’s license (CDL) in 2017, and like other Centro drivers, attends regular training and safety programs.
Centro says Tuff was driving one of the buses during the Red Hot Chili Peppers’ concert at the JMA Wireless Dome in April 2023. “This provides Tuff with a unique perspective of what Centro drivers face in providing safe, quality service and connects him with bus riders,” the Authority said in its June 3 announcement about Tuff’s selection as the new CEO.
Centro’s board of members appointed Tuff to lead the Central New York Regional Transportation Authority (Centro) and its subsidiary organizations.
Tuff assumes the role of CEO after serving during the past four and a half years as Centro’s deputy CEO. During that time, he oversaw the successful launch of Centro’s service in Cortland County, the first expansion of services in 20 years.
Tuff succeeds Brian Schultz in the CEO role. Schultz went on leave in October 2023 due to health issues and eventually informed the Authority his health wouldn’t allow him to return.
“When we began our search for a new CEO, the Board of Members promised to find a leader who exemplifies the organization’s values and appreciates the importance of public transportation in a service area like ours,” Nicholas Laino, chairman of the Centro board, said in the announcement. “We have someone who has demonstrated his ability to lead this organization with accountability and transparency. Someone who lives the values Centro prioritizes. Someone who is ready to transform Central New York’s transportation landscape through the arrival of Micron and removal of Interstate 81. That leader is Christopher Tuff.”
Tuff began his career at Centro in 2007 in the Authority’s accounting department. He left the organization for eight years, working as an auditor for the New York State Department of Taxation and Finance. Tuff returned to Centro in 2016 and “steadily rose through the ranks,” holding the positions of VP of administration, director of operations, and director of subsidiary operations.
Tuff was chosen after a nearly 18-month nationwide search conducted by TransPro Consulting, a transportation industry search firm. After an initial candidate pool was gathered, the Authority considered nine candidates from seven states and determined Tuff was the best suited for the position due to his track record, connection with the community, and dedication to public transportation.
“Christopher has what it takes to lead Centro and execute the Authority’s forward-looking policies,” Laino added. “He gets what makes our drivers come to work every day and why riders choose Centro.”
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.