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Advanced Motors & Drives to cut 72 jobs in DeWitt
DeWITT — Advanced Motors & Drives, a subsidiary of Nidec Corp. (NYSE: NJ), announced it will eliminate 72 jobs at its DeWitt plant in the
Boeheim Foundation awards Upstate Medical $100K for pediatric-cancer research
SYRACUSE — The Jim and Juli Boeheim Foundation has awarded the Foundation for Upstate Medical University a grant of $100,000 for pediatric-cancer research. Upstate Medical announced the grant in a news release on its website. Its foundation is its fund-raising arm. Established in 2009 by the Syracuse University men’s basketball head coach and his wife,
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SYRACUSE — The Jim and Juli Boeheim Foundation has awarded the Foundation for Upstate Medical University a grant of $100,000 for pediatric-cancer research.
Upstate Medical announced the grant in a news release on its website. Its foundation is its fund-raising arm.
Established in 2009 by the Syracuse University men’s basketball head coach and his wife, the Jim and Juli Boeheim Foundation works to help Central New York children in need and to provide support for eliminating cancer through research and advocacy.
Researchers will use the funding to study potential new treatments for children with cancer, the fourth leading cause of death in children, Upstate Medical said in the news release.
“The Boeheim Foundation is pleased to support such vital research that holds the hope of better treatment for children with cancer,” Juli Boeheim said in the release. “To be able to support this research right here in our own backyard, at Upstate Medical University, makes this grant that much more meaningful.”
The Boeheim Foundation made the contribution to support two studies.
One will investigate new treatment options for children with osteosarcoma and Ewing sarcoma, two bone cancers that occur mainly in adolescents, according to Upstate Medical.
The other study will look at ways to reduce the adverse effects of radiation treatments for childhood cancer on bone growth and development.
The medical school is “grateful” for the support, Dr. Timothy Damron, a member of the Upstate faculty who will lead the research efforts, said in the news release.
“This support provides us with the opportunity to begin looking at new treatments for curing cancer in children, and ensuring that these treatments enable them to live long healthy lives,” Damron said.
Osteosarcoma and Ewing sarcoma are two common bone cancers that can strike any age, but they are mainly seen in adolescents.
To try and increase the survival rate of those battling these cancers, researchers will attempt to find a way to block cellular signals so tumor cells cannot influence nearby bone-marrow cells into spreading the cancer, rather than fighting it.
Damron, professor of orthopedic surgery, cell and developmental biology and neuroscience and physiology, and Bryan Marguiles, assistant professor of orthopedic surgery and cell and developmental biology, are leading the research team, Upstate Medical said.
In the other study, researchers will address the radiation effects on a child’s bones. Megan Oest, assistant professor of orthopedic surgery and cell and developmental biology, will lead that study, the medical school said.
Contact Reinhardt at ereinhardt@cnybj.com
PHOTO CAPTION: A grant of $100,000 from the Jim and Juli Boeheim Foundation is funding research at Upstate Medical University on developing new cancer treatments for children. The researchers include (from left) Bryan Marguiles, Megan Oest, and Dr. Timothy Damron (photo courtesy of Upstate Medical University).
Rombel on Business: February U.S. jobs report shows signs of improvement
Friday’s monthly nonfarm payrolls report from the U.S. Bureau of Labor Statistics (BLS) provided fresh evidence of a bounce back in the U.S. labor market from recent weakness that may have been weather-related. This is despite the unemployment rate’s rise to 6.7 percent in February from 6.6 percent in January. For the record, employers added
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Friday’s monthly nonfarm payrolls report from the U.S. Bureau of Labor Statistics (BLS) provided fresh evidence of a bounce back in the U.S. labor market from recent weakness that may have been weather-related.
This is despite the unemployment rate’s rise to 6.7 percent in February from 6.6 percent in January.
For the record, employers added 175,000 people to payrolls nationally in February, the most in three months. The increase beat economists’ average expectation of about 150,000 jobs. It also marked a substantial ramping up of job growth from January and December when 129,000 jobs and 84,000 jobs were added, respectively.
Private-sector employers added 162,000 jobs last month, up from 142,000 in January, again beating forecasts.
The new payrolls report also showed income growth with average hourly earnings rising 9 cents, or 0.4 percent, to $24.31 an hour in February. That compares to a 0.2 percent earnings increase in January.
Another potentially hopeful sign was that the BLS data showed 264,000 people joined the civilian labor force last month, which means more people were looking for work. That could be an indication the economy is improving and individuals feel more confident to begin seeking a job again. The rise in the labor force was the primary reason why the unemployment rate ticked up a bit in February despite the job gains.
With more people joining the job market, the work-force participation rate stabilized at 63 percent in February, unchanged from January, but up from 62.8 percent in December.
A declining labor-force participation rate to 35-year lows has been a chronic feature of the U.S. job market the last several years and a major reason for the decline of the unemployment rate since it peaked at 10 percent.
“I conclude that the decline of the unemployment rate significantly overstates the degree of improvement in the labor market,” William C. Dudley, president and CEO of the Federal Reserve Bank of New York, said in the transcript of a speech he delivered Friday at Brooklyn College.
Contact Rombel at arombel@cnybj.com
State awards three CNY organizations funding to develop advanced energy-storage technologies
New York state has awarded two Central New York companies and a university $250,000 each for their work on new technologies in battery and energy
Elmira Savings Bank to pay cash dividend of 23 cents a share
ELMIRA — The Elmira Savings Bank (NASDAQ: ESBK) board of directors has declared a quarterly cash dividend of 23 cents per share on its common shares outstanding. The company will pay the dividend on March 28 to shareholders of record March 13. It’s the same cash-dividend amount the banking company paid in December. However, Elmira
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ELMIRA — The Elmira Savings Bank (NASDAQ: ESBK) board of directors has declared a quarterly cash dividend of 23 cents per share on its common shares outstanding.
The company will pay the dividend on March 28 to shareholders of record March 13. It’s the same cash-dividend amount the banking company paid in December. However, Elmira Savings also paid a 10 percent stock dividend at that time.
Elmira Savings Bank, with $509.5 million in total assets, is a state-chartered bank with six branches in Chemung County, three offices and a loan center in Tompkins County, two branches in Steuben County, one branch each in Cayuga and Schuyler counties, and one loan center each in Cortland and Broome counties.
The banking company generated $5.05 million, or $1.40 a share, in net income in 2013, compared to $5.21 million, or $1.37 per share, in 2012.
Contact Rombel at arombel@cnybj.com
New York’s initial jobless claims tumble 16 percent in latest week
The number of people applying for new unemployment-insurance benefits in New York state in the week ending Feb. 22 plummeted by 3,572, or nearly 16
Faxton St. Luke’s, St. Elizabeth form Mohawk Valley Health System
UTICA — Faxton St. Luke’s Healthcare (FSLH) and St. Elizabeth Medical Center (SEMC) today formally announced their affiliation as the Mohawk Valley Health System (MVHS).
State unemployment rate dips to 6.8 percent in January
New York’s unemployment rate declined to 6.8 percent in January from 7 percent in December, hitting its lowest level since December 2008. That’s according to
Rasmussen Business Equipment formally opens in Oswego
OSWEGO — James Rasmussen, who has more than 23 years of experience in business-machine service and repair, has formally opened his own business. Rasmussen Business
HSLC hires first executive director
SYRACUSE —The Human Services Leadership Council (HSLC), a membership organization comprised of the CEOs of human-services agencies in Central New York, announced it has appointed
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