Business & Finance
Citi raises salaries
WASHINGTON—Citigroup Inc. is increasing the base salaries of many employees—reportedly by as much as 50 percent for some workers—as it restructures their compensation amid government restrictions on bonuses. (Updated: 06/25/09 7:01 AM )
SBA changes policy
A permanent change to a long-standing Small Business Administration program means small companies can now refinance existing loans used to purchase real estate and other fixed assets, helping their ability to grow. (Updated: 06/25/09 7:01 AM )
Standard & Poor’s lowers Moog’s credit rating
Moog Inc.’s credit rating was cut a notch by Standard&Poor’s Corp., as the recession cuts into the Elma aerospace company’s key industrial and commercial aerospace markets, the ratings agency said Wednesday. (Updated: 06/25/09 7:01 AM )
Buffett bids pass $200,000
OMAHA, Neb. (AP)—It’s extremely unlikely billionaire Warren Buffett would ever pay $2.1 million for lunch, because the Omaha investor prefers hamburgers and Cherry Cokes. (Updated: 06/25/09 7:01 AM )
Restitution delayed
NEW YORK (AP)—Financier Bernard Madoff will not be ordered to pay restitution at his sentencing, a judge said Wednesday, citing the complexity of the multibillion-dollar fraud. (Updated: 06/25/09 7:01 AM )
Business calendar
The Business Calendar runs each Sunday in the Business section. Notices of meetings, seminars and workshops of interest to the Buffalo-area business community should be sent to the Business News Desk of The News, Box 100, Buffalo, N. Y. 14240, faxed to 849-4587 or emailed to
fin@buffnews.com
by the preceding Thursday. Tuesday (Updated: 06/21/09 7:06 AM )
GM chairman vows to ‘learn about cars’
Edward E. Whitacre Jr. built AT&T Inc. into the biggest U. S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry. (Updated: 06/21/09 7:06 AM )
Business people
Crowley Webb and Associates, a marketing communications agency located in Buffalo, promoted Matt Low to vice president, associate creative director. Low joined the agency as an intern while finishing his degree in communication studies at Canisius College. He was then hired as copywriter in 2000, promoted to senior copywriter in 2003, and became copy supervisor in 2005. (Updated: 06/21/09 7:06 AM )
IPOs / Week of June 22
NEW YORK (AP)—The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (
www.renaissancecapital.com
) and SEC filings. Chemspec International Ltd. (Updated: 06/21/09 7:06 AM )
Executive trading
Here are the week’s reports of trading in the stocks of local companies or in the companies that have significant local operations, by directors and executives of the companies: (Updated: 06/21/09 7:06 AM )
Evans Bancorp: Ware, Nancy W.,
director, purchased 225 shares of common at $13.50 each on June 17 and now directly and indirectly holds 2,075. (Updated: 06/21/09 7:06 AM )
Make the best of graduation money
It’s the season for graduation gifts. And for most high school, college and grad school grads, there’s one gift that’s king: cash. (Updated: 06/21/09 7:06 AM )
Skimping on insurance to save some money can be a risky choice
CHARLOTTE, N. C. — Barry Miller figured he was saving $100 a month when he scaled back his disability insurance. After all, he was healthy. (Updated: 06/21/09 7:06 AM )
Don’t write off your GM stock quite yet
You own GM stock, but when will it be viewed as worthless and be a write-off? (Updated: 06/21/09 7:06 AM )
The rundown on baggage fees
A rundown of baggage fees at major U. S. airlines: (Updated: 06/21/09 7:06 AM )
