News
Rochester:
EU to Slap Tariffs on Chinese Solar Panels
The Wall Street JournalBy MATTHEW DALTONBRUSSELS—The European Union is poised to slap import duties on solar-panel equipment made in China, likely sparking one of the largest trade battles of recent decades.The duties are intended to protect European solar companies reeling from a flood of imported Chinese solar...
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Slowdown in Health Costs’ Rise May Last as Economy Revives
The New York TimesBy ANNIE LOWREYPublished: May 6, 2013WASHINGTON — One of the economic mysteries of the last few years has been the bigger-than-expected slowdown in health spending, a trend that promises to bolster wages and help close the wide federal deficit over the long term — but only if it persists.Major ...
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U.S. Spending Cuts Seen as Key in Slowing Growth
The New York TimesBy NELSON D. SCHWARTZPublished: May 2, 2013As chief executive of a small Michigan military contractor, Nanocerox, he had already cut his work force by one-third. But it was not enough. And if the government spending cuts mandated by Congress continue, he said, more people will go in the coming ...
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Adraft 2013 Technology Conference and Executive Session Invitation
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Jobs Data Ease Fears of Sharp Slowdown in U.S. Economy
The New York TimesBy NELSON D. SCHWARTZPublished: May 3, 2013 The latest jobs figures from the Department of Labor paint a brighter picture of the overall economy than other recent data, which had been weaker and prompted economists to warn of a spring swoon for the third year in row. Those...
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Key Bank Economic Quick Takes
Here’s my quick take. 1. The numbers, part 1. The Institute for Supply Management (ISM) reported that its summary Purchasing Manages’ Index (PMI) fell 0.6 points, for a April reading of 50.7. According to the ISM, a reading above 50 would typically be associated with an expansion of the manufacturing se...
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As Jobs Lag, Fed Is Viewed as Unlikely to Do More
The New York TimesBy BINYAMIN APPELBAUMPublished: April 29, 2013 WASHINGTON — The Federal Reserve is making modest progress in its push to reduce the unemployment rate. But that is not the jobs goal Congress actually established for the Fed. The central bank is supposed to be maximizing employment. And o...
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Paid Sick Leave Has Some Business Owners Feeling Ill
The New York TimesBy ROBB MANDELBAUMWhen the advocates at Family Forward Oregon sought to muster support among businesses in Portland for a local paid sick leave ordinance, they found a sympathetic ear in Tony Fuentes. Mr. Fuentes and his wife operate Milagros Boutique, which sells cloth dia...
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More Forceful Fed Stands by Stimulus
The New York TimesBy BINYAMIN APPELBAUMPublished: May 1, 2013WASHINGTON — The Federal Reserve said Wednesday that its economic stimulus campaign would press forward at the same pace it has maintained since December, putting to rest for now any suggestion that it was leaning toward doing less.The Fe...
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State-Wrecked: The Corruption of Capitalism in America
The New York TimesBy DAVID A. STOCKMANPublished: March 30, 2013 The Dow Jones and Standard & Poor’s 500 indexes reached record highs on Thursday, having completely erased the losses since the stock market’s last peak, in 2007. But instead of cheering, we should be very afraid.Over the last 13 years, t...
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Key Bank Economic Quick Takes
By Dr. Ken Mayland, Clearview Economics, LLCHere’s my quick take. 1. The numbers. The economy expanded at a 2.5% annualized rate for the first three months of the year. This compares with a miniscule 0.4% advance during the last three months of 2012. Broad based GDP inflation came in at 1.2% for...
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Klein Steel Proud to Announce NQA-1 Compliance
Rochester, NY – Klein Steel Service Inc., a nationally recognized metal service center with a focus on innovation and continuous process improvement, announced today that it has attained Nuclear Quality Assurance (NQA-1) compliance as verified by an independent audit. Due to the critical importance of safety, quality a...
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RTMA Welcomes New Regular Member
WELCOMERTMA REGULAR MembeRJK FindingsJoni D. Lucas, Chief Operating Officer...
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Federal Cuts Are Concern in Modest U.S. Growth
The New York TimesConsumer spending was up in the quarter, despite the lapse of the temporary payroll tax holiday. Above, shoppers in New York in February.By CATHERINE RAMPELLPublished: April 26, 2013It’s not great, but it’s still probably the best growth the American economy is going to see for a while.Economic...
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Key Bank Economic Quick Takes
By Dr. Ken Mayland, Clearview Economics, LLCApril 2013 Dear Clients, (April 30 is as late as "Late-April" can get. If you observed that the month’s issue is being released later than normal, you’re right. I was away from my office a record 19 days this month. The IRS should feel lucky ...
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Key Bank Economic Quick Takes
By Dr. Ken Mayland, Clearview Economics, LLCHere’s my quick take. 1. The numbers. Personal income (PI) for February rebounded 1.1%. Personal consumption expenditures (PCE, or "consumer spending") grew 0.7% in nominal terms but 0.3% in inflation-adjusted terms. (Spending in January was ...
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On the Economy, Think Long-Term
The New York TimesBy JEFFREY D. SACHSTHE 2009 economic stimulus package has come and gone. So, too, have the temporary payroll tax cuts of 2011-12. Most of the Bush-era tax cuts, in addition, have been made permanent. Yet the lasting effects of these policies have been meager.The economy is still sluggish. Unemployment...
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A Health Scare for Small Businesses
The Wall Street JournalAhead of Health-Care Law, Small Firms Worry About Crossing the Crucial 50-Person ThresholdBy EMILY MALTBYDuring her two-plus years in business, Elizabeth Turley has steadily recruited new employees for her apparel company, Meesh & Mia Corp., to keep pace with its rapid growth. But this year c...
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Business Council statement on the new state budget
For Release – March 29, 2013ALBANY—"For the first time in three decades New Yorkers are seeing the passage of three consecutive on-time budgets. Governor Cuomo, the State Senate and the State Assembly have once again worked together to produce a budget that limits spending to less than 2 percent while closing a $1...
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Rumors of a Cheap-Energy Jobs Boom Remain Just That
The New York TimesBy NELSON D. SCHWARTZThese are good times for Libbey, a 125-year-old American glassmaker that nearly went bankrupt four years ago. The company’s shares have risen to almost $20 from below $1, sales of its tableware are at a record high, and its energy-intensive factories saved more than $5 million in ...
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Olivier Blanchard’s Five Lessons for Economists From the Financial Crisis
The Wall Street JournalBy David WesselWhat did the worst financial crisis and deepest recession in 75 years teach academic economists and policymakers on whose watch it happened? At a recent London School of Economics forum, convened to honor Bank of England GovernorMervyn King, Olivier Blanchard offered some answers.M...
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Finding an Innovation Strategy That Works
The Wall Street JournalBy FRANK T. ROTHAERMEL and ANDREW M. HESSWhen it comes to pursuing innovation, choosing the right path can be tricky, even for the most seasoned of managers. That's because there are many options from which to choose, and no one-size-fits-all recipe for success.To make it a little easier to find ...
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Strassel: Obama's Energy Security Trap
The Wall Street JournalThe Energy Security Trust would give the president more deficit spending, in return for which the GOP would get nothing.By KIMBERLEY A. STRASSELWhat's the best way for President Obama to revive interest in a costly green-energy program? Try a little Republican return-on-investment.Mr. Obama sojou...
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Manufacturers See Slower Gains
The Wall Street JournalBy BRENDA CRONINU.S. manufacturers notched a fourth consecutive month of expansion in March, continuing to grow but at a slower pace than in February, with the auto and housing sectors leading the gains.Details of Monday's report from the Institute for Supply Management showed that the pullback f...
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Hiring Spreads, but Only 14 Cities Top Prerecession Level
The Wall Street JournalBy AMY SCHATZEmployers are hiring more readily across the U.S., though only 14 of the nation's 100 biggest metropolitan areas have more jobs now than they did before the 2008-09 recession.Six of them are in Texas, according to researchers at the Brookings Institution, who recently analyzed local ...
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GM Throws Down Gauntlet in Truck Mileage
The Wall Street JournalBy JEFF BENNETTThe pickup truck mileage war is on, with General Motors Co. claiming on Monday its coming eight-cylinder Chevrolet Silverado and GM Sierra pickup trucks will go farther on a gallon of gasoline than Ford Motor Co.'s six-cylinder F-150 trucks.The Silverado two-wheel-drive mode...
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Settling Is Not the Only Way to Resolve an Employee Lawsuit
The New York TimesBy ADRIANA GARDELLAPublished: February 20, 2013Many small-business owners respond to employee lawsuits with grudging acceptance that, regardless of whether the company broke any laws, the sooner it pays a plaintiff to go away, the better. As repugnant as this may sound, it is a cost of doing business....
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State-Wrecked: The Corruption of Capitalism in America
The New York TimesBy DAVID A. STOCKMANThe Dow Jones and Standard & Poor’s 500 indexes reached record highs on Thursday, having completely erased the losses since the stock market’s last peak, in 2007. But instead of cheering, we should be very afraid.Over the last 13 years, the stock market has twice crashed and to...
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Cuomo’s Job-Depletion Plan
The Wall Street JournalHigher taxes, higher minimum wage and no natural gas fracking.President Obama had such fabulous success running for re-election with a lousy jobs record that New York Governor Andrew Cuomo has apparently decided to copy the strategy. If the state's economy continues to fizzle, the Democrat may ev...
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President's Message
Yvette Pagano, CAR EngineeringRTMA PresidentRTMA Board Focused On Strategic AlignmentThe RTMA Board of Directors and I are working with Laurie Allan of Laurie Allan and Associates, LLC. Our purpose is to ensure that our association continues to improve and add value. We will undertake this challenge through a strategic...
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March Monthly Meeting
On March 21st, RTMA Members attended a plant tour and Monthly Meeting. The evening began with a tour at Klein Steel Service Inc, where RTMA Members learned about the nationally recognized company and its great success.The plant tour was followed by dinner at Rick's Prime Rib House. During dinner, Kevin Kelley,...
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Meet new SBDC DIRECTOR at SUNY GENESEO focused on Manufacturing
I wanted to take an opportunity to introduce myself and welcome you to the Small Business Development Center (SBDC) located on the campus of SUNY Geneseo at 111 South Hall, Geneseo, NY. Since 1984, SBDC has been created to assist the entrepreneur, the small business startup, or the established business owner to assist ...
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Confronting the U.S. Advanced Manufacturing Skills Gap
The American - The Online Magazine of the American Enterprise InstituteBy Thomas A. Hemphill, Waheeda Lillevik, and Mark J. PerryWe have a skills gap and it’s going to get worse. Here’s what we can do about it.It is generally acknowledged that there is a shortage of skilled manufacturing workers in the United States, b...
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Autodraft, Inc. (Adraft) headquartered in Fairport NY is celebrating our 25th year in business
"The entire team at Adraft is thankful to everyone that has helped us to grow and succeed in assisting engineering and design companies become more efficient utilizing our technology and services." President and Founder Julia Grant said. "We look forward to our collective successes during the next 25 yea...
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RTMA Welcomes New Associate Members
WELCOMERTMA ASSOCIATE MembeRSJBM TechnologiesJim Knox, Sales Engineer/Product ManagerAlro SteelBruce Gelletly, Territory Manager...
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February Monthly Meeting
On February 21st, the RTMA conducted its Monthly Meeting at Rick's Prime Rib House. There were 70 RTMA Members in attendance. The meeting was sponsored by Innovative Solutions, which provides IT Consulting, implementation, and support services to businesses of all sizes across Western NY.The featured speaker w...
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FTT Manufacturing has been named the 2012 GLOW (Genesee, Livingston, Orleans and Wyoming counties) Business of the Year
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President's Message
Yvette Pagano, CAR Engineering and Manufacturing, Inc.RTMA PresidentManufacturing Day in AlbanyEach year, the RTMA participates in Manufacturing Day in Albany. Joining with a number of other manufacturing associations, we meet with our respective legislators and present our issues. This is a two-day event, March 4-5. T...
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BlackBerry Reinvents Itself to Compete With All-Touch Smartphones
The Wall Street JournalBy WALTER S. MOSSBERGThere is a new smartphone coming to market, running on a new operating system. It's an all-touch device—with no physical navigation controls and no physical keyboard—and serves as a platform for third-party apps. It's meant to compete in a world defined by Apple'sz...
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Cuomo 2013 Budget Designed to Control Spending in New York
The Business CouncilFor Release – January 23, 2013ALBANY—"For the third year in a row, Governor Cuomo has presented a budget designed to control overall state spending.The Governor's budget closes a $1 billion plus spending-gap with no new taxes or fees. It also provides additional mandate relief sending a signal ...
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What to Expect From Fed
The Wall Street JournalBy Victoria McGraneThe Federal Reserve wraps up its first meeting of the year today, and the 2:15 p.m. statement is expected to change little from the last time policymakers.The Fed is widely expected to continue unaltered its $85 billion-a-month bond-buying programs, which are designed to boost ...
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Fiscal Cliff Didn’t Hold Back Business Spending
The Wall Street JournalBy Neil ShahCorporate executives warned Washington late last year they were delaying investment plans amid rising uncertainty over the fiscal cliff, raising risks for the economy. Turns out they did nothing of the sort.In its first analysis of U.S. gross domestic product in the fourth quarter of ...
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Chrysler Profit Up, Cautions on Spending
The Wall Street JournalBy CHRISTINA ROGERSSergio Marchionne swept into Detroit in 2009 with a grand vision: turn Chrysler Group LLC and Italian auto maker Fiat SpA into a single, global auto maker capable of going toe to toe with the auto industry's giants.On Wednesday, he signaled the road gets a ...
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Leading the Way Out of Debt
The New York TimesBy TINA ROSENBERGAdalberto Jaimes offers his clients personalized financial planning. Like private bankers and wealth managers, he helps people set their financial priorities and goals. He picks up the phone to negotiate deals and helps them take care of the paperwork.Instead of working in a sl...
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GDP Is Better Than Headline, but Still Not Good
The Wall Street JournalBy Ben CasselmanToday’s GDP report wasn’t as bad as it looks at first. But don’t be fooled into thinking that means it was good.The U.S. economy is big and complex, with individual segments growing at different rates, or even moving in different directions. One mark of a healthy economy is that i...
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The Health Care Law and Retirement Savings
The New York TimesBy CASEY B. MULLIGANCasey B. Mulligan is an economics professor at the University of Chicago. He is the author of "The Redistribution Recession: How Labor Market Distortions Contracted the Economy."Because of its definition of affordability, beginning next year the Affordable Care Act may af...
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Boeing Stays Bullish on the 787
The Wall Street JournalBy Joseph B. WhiteBoeing Co. Chief Executive Jim McNerney says the aircraft giant is still building 787 Dreamliners, still expects to ramp up production as planned and right now isn’t expecting a significant hit to profits as a result of the multiple investigations of recent ...
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Gunmakers Push Back in Connecticut
The Wall Street JournalBy Joseph De AvilaConnecticut-based gun manufacturers called into question proposed weapons restrictions and taxes at a legislative hearing Monday, the local industry’s most robust public statements since the shooting rampage at an elementary school in Newtown, Conn.Hundreds of residents lined up...
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U.S. Economy Unexpectedly Contracted in Fourth Quarter
The New York TimesThe government said economic output in the quarter fell at an annual rate of 0.1 percent.By NELSON D. SCHWARTZPublished: January 30, 2013 The United States economy unexpectedly reversed course in the final quarter of 2012 and contracted at a 0.1 percent rate, the Commerce Department said Wednes...
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January Monthly Meeting
On January 21st, 60 people attended the RTMA Monthly Meeting at Rick's Prime Rib House. The meeting was sponsored by McDonald Cointot, Crouse, LLP, who are RTMA’s accountants and are responsible for its audit. The featured speaker was Gary Keith, Vice President and Regional Economist at M&T Bank. Mr. Keith ...
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RTMA Welcomes New Associate Member
WELCOMERTMA ASSOCIATE MembeRBodycote Thermal ProcessingAl Rogers, Account Manager...
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President's Message
Yvette Pagano, CAR Engineering and Manufacturing, Inc.RTMA PresidentRTMA Scholarship Initiative - Update The RTMA has been promoting the precision machining industry for a number of years. Over the past several years, the RTMA and its members implemented the "Best Job You Never Heard Of" Campaign on Channel 1...
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Key Bank Economic Quicktakes
Dr. Ken Mayland, Clearview Economics, LLCHere’s my quick take. 1. The numbers. The balance of trade deficit unexpectedly soared in November. The gap expanded $6.6B, to a deficit of $48.7B. Exports grew $1.8B for the latest month, but imports zoomed $8.4B higher. 2. Not oil! Much of the m...
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Leadership Conference 2013
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Slow Startup Formation Raises Job Creation Questions
The Wall Street JournalBy Kathleen MadiganWhen it comes to U.S. labor markets, small businesses are viewed as the mice that roar. But that growl is growing more muted, and could limit future hiring.Two recent reports show small business hiring weakened at the end of 2012.Tuesday’s small business report from the ...
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Obama Aide Is Treasury Pick
The Wall Street JournalWhite House Set to Nominate Lew, a Loyal Lieutenant; Break From Market ExpertsBy DAMIAN PALETTA and JANET HOOKWASHINGTON—President Barack Obama plans to nominate Jacob Lew to be the 76th U.S. Treasury secretary, putting the White House's chief budget expert in a...
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Payroll Tax Cut Expires; How Much More Will You Pay?
The Wall Street JournalBy Sudeep ReddyThe fiscal cliff deal reached by the White House and Senate Republicans wouldn’t extend the payroll-tax holiday. The biggest hit to 2013 growth appears likely to come from this tax break’s expiration on Monday.The workers’ share of the Social Security payroll tax had been lowered b...
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National Association of Manufacturers Economic Report
National Association of Manufacturers Economic ReportWith a last-minute deal to avert the fiscal cliff, manufacturers have fewer uncertainties to worry about at the start of the new year. The threat of an economic downturn appears to have largely dissipated, with modest growth in real GDP of 2 percent or so expected th...
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Manufacturers: Policymakers Must Address True Fiscal Problems
National Association of ManufacturersBeyond Time to Put Politics Aside for Good of U.S. EconomyContact:Jeff Ostermayer (202-637-3090)WASHINGTON, D.C., 01/01/13 - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement after Congress passed legislation to add...
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Why Hagel Was Picked
The New York TimesBy DAVID BROOKSAmericans don’t particularly like government, but they do want government to subsidize their health care. They believe that health care spending improves their lives more than any other public good. In a Quinnipiac poll, typical of many others, Americans opposed any cuts to Medic...
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Social Security: It’s Worse Than You Think
The New York TimesBy GARY KING and SAMIR S. SONEJICONGRESS and President Obama have pushed through a relatively modest stopgap measure to avoid the "fiscal cliff," but over the coming years, the United States will confront another huge cliff: Social Security.In the first presidential debate, Mr. Obama describ...
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The Next Round of Tax Increases
The New York TimesPublished: January 6, 2013When the White House announced the deal on the fiscal cliff last week, it was quick — and correct — to note that much was left undone. There was still "substantial" room, the administration said,to raise taxes on high-income Americans, to reform corporate tax...
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Public Goals, Private Interests in Debt Campaign
The New York TimesBy NICHOLAS CONFESSOREWhen Jim McCrery, a former Louisiana congressman, urged lawmakers last month to pursue entitlement cuts and tax reform, he was introduced on television as a leader of Fix the Debt, a group of business executives and onetime legislators who have become Washington’s most visible an...
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AIG Board Won’t Sue Over Terms Of Rescue
The Wall Street JournalBy LESLIE SCISM and JOANN S. LUBLINAmerican International Group Inc. decided Wednesday to pass on a shareholder lawsuit that accuses the U.S. government of unfairly burdening the company during its financial-crisis rescue, in a move that could snuff out a brewin...
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What the VAT!?
Posted on 20 December 2012.By Greg Autry, CPA EconomistI was working on an updated map of nations that use a Value Added Tax (VAT) for the Coalition for a Prosperous America and thought I’d share it. Nations in RED have a VAT. Nations in BLUE don’t.Basically, the VAT is a national sales tax on pro...
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RTMA 2012 Holiday Social
On December 13, the RTMA hosted a Holiday Social at Rick's Prime Rib House. 100 people attended this event to enjoy the open bar, food, and holiday cheer. The evening was a success due to the support and generosity of our sponsors. Many Thanks to Our Sponsors!Bronze Sponsor:Brown & Brown of RochesterSteel Sponsor...
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RTMA Welcomes New Regular Member
WELCOMERTMA REGULAR MembeRDie-Max of Rochester, Inc.David Hutchinson, Marketing Operations Manager...
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First Niagara Risk Management offers discounted Workers Compensation Insurance through PMA Group
Jay Murphy, RTMA President accepts a dividend check from Joe Talbot, Vice President of First Niagara Risk ManagementAs a value-added benefit of membership, the RTMA is partnered with First Niagara Risk Management. The program involves a 25-30% discount on Workers Compensation Insurance through PMA Insurance Group.* Co...
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First Niagara Risk Management offers discounted Workers Compensation Insurance through PMA Group
Jay Murphy, RTMA President accepts a dividend check from Joe Talbot, Vice President of First Niagara Risk ManagementAs a value-added benefit of membership in the RTMA, we are partnered with First Niagara Risk Management to offer a 25-30% discount on Workers Compensation Insurance through PMA Insurance Group.Benefits to...
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Kingsbury Open House
On December 6, over 500 people toured Kingsbury an Optimation Company at 1600 Lexington Ave. The 180,000-square-foot shop houses CNC machining centers, Jig Boring and horizontal boring machines, turning machines and more; all used to manufacture machines, assembly systems and spare parts. Kingsbury an Optimation Compan...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentMy Last Message As PresidentThree years ago, the Board of Directors nominated me to serve as your President. I thought it would only be for one year, but as circumstances evolved, one year became three. During the past three years, the RTMA has undergone some significant ...
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Important FAME event on Workforce: January 17, 4:00 pm
Friends,Most of you know that I am Chair of FAME; the Finger Lakes Advanced Manufacturers’ Enterprise. I took on the role because of the chronic skilled worker shortage. All manufacturers are wrestling with this problem. The RTMA has been a terrific partner in the quest to close the skills gap. Most of you believe t...
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U.S. Jobless Claims Fall to 370,000
The Wall Street JournalBy SARAH PORTLOCK and ANDREW ACKERMANWASHINGTON—The number of new unemployment claims dropped last week, a possible reflection of volatile figures that are typically reported toward the end of the year.Jobless claims decreased by 25,000 to a seasonally adjusted 370,000 in the week ended Dec. 1, t...
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Trying to Calculate the Cost of Uncertainty
The Wall Street JournalBy DAVID WESSELEconomists sometimes belabor and measure what the rest of us find obvious. Take this assertion: When it's unusually hard to tell where the economy and government policy are going, businesses will be reluctant to invest and hire.The notion isn't new. It was central to Federal Reserv...
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In Tax Fight, G.O.P. Seeks a Position to Fall Back On
The New York TimesBy JONATHAN WEISMANPublished: December 4, 2012WASHINGTON — With President Obama insisting on higher tax rates for affluent Americans and winning public support for the idea, Congressional Republicans find themselves in an increasingly difficult political spot and are quietly beginning to look f...
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A Shopping Stampede, Yes, but Maybe No Economic Jolt
The New York TimesBy JEFF SOMMERPublished: December 1, 2012THE holiday shopping season started early, and with a roar. Whether that will help the sagging economy is another matter."Spending may well be strong, and that could help us get through another Christmas," said William R. Emmons, an econ...
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More Costly Than Higher Taxes: Rash Decisions
The New York TimesBy PAUL SULLIVANPublished: November 16, 2012WITH all the ominous talk of tax increases and a "fiscal cliff" if President Obama and Congressional leaders can’t agree on a plan to avert automatic tax increases on Dec. 31, some investors may be tempted to act soon to take advantage of th...
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Citi’s New Chief Launches First Cost-Cutting Salvo
The Wall Street JournalBy SUZANNE KAPNERUnderlining his determination to crack down on costs, Citigroup Inc. Chief Executive Michael Corbat set out plans Wednesday to cut 11,000 jobs, close 84 branches and retreat from consumer banking in a handful of countries.Plans for workfo...
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Alan Blinder: How to Get a Budget Deal Instead of the Cliff
The Wall Street JournalDoes 11% unemployment sound good to you? That's where we're headed if Congress doesn't hurry.By ALAN S. BLINDERDear Congress,Please don't drive our economy off the fiscal cliff.First of all, I really hate recessions—and you should, too. If you take between 3% and 4% of total spending out o...
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Jobs Forecasts Even Cloudier Than Usual
The Wall Street JournalBy Kathleen MadiganNo matter how strong or weak Friday’s payroll number is, expect any analysis to carry caveats. November’s economic performance was skewed by Mother Nature, politics and the calendar.A hint of the data-roiling was evident on Wednesday. Payroll giant ADP reported an increase of j...
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Tax Planning Difficult as the U.S. Moves Towards for “The Fiscal Cliff”
By Samuel C. DiSalvo, CPA, J.D.Year-end tax planning for businesses and individuals is unusually difficult in 2012 because of the uncertainty of how Congress will address the "Fiscal Cliff - which represents the expiration of Bush-era tax cuts and other tax cuts plus across the board government spending cuts that ...
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November Monthly Meeting
On November 29, RTMA Members attended a plant tour and Monthly Meeting. The evening began with a tour at The Gleason Works, a very successful international business with deep roots in Rochester.The plant tour was followed by dinner at Pomodoro Grill and Wine Bar on Monroe Avenue. During dinner, a panel of RTMA ...
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RTMA Welcomes New Associate Member
WELCOMERTMA ASSOCIATE MembeRCoating Technology, Inc.Bryant Dunham, Sales Manager...
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Facing Protests, China’s Business Investment Slows
The New York TimesBy KEITH BRADSHERSHIFANG, China — Local leaders were all smiles this summer at a groundbreaking ceremony for a vast copper smelting project that seemed like the answer to the chronic unemployment that has plagued this city in northern Sichuan ever since a devastating earthquake in 2008.But with...
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Suzuki’s Small Cars Were Wrong Fit in U.S.
The New York TimesBy HIROKO TABUCHITOKYO — For all of Suzuki’s tough talk about its "brush-busting" Samurai off-roader, the Japanese automaker never made it big in the United States. Its cars were too small, its safety record iffy and its branding a bit too comical (Suzuki Sidekick, anyone?).So ...
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Service Sector Growth Eases, but Hiring Is at 7-Month High
The New York TimesBy REUTERSThe rate of growth in the nation’s services sector slowed modestly in October, though a measure of employment improved to its highest in seven months, underscoring expectations the economic recovery will remain modest.The Institute for Supply Management said Monday that ...
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Weak Hiring, Fewer Quits Make for Sluggish Job Market
The Wall Street JournalBy Ben CasselmanMaybe it’s the election. Maybe it’s the fiscal cliff. Maybe it’s the still-sluggish recovery. But whatever the reason, both employers and employees appear to be growing more cautious.Companies hired fewer new workers in September than in August, and posted fewer new job openings. ...
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Health-Care Law Spurs a Shift to Part-Time Workers
The Wall Street JournalBy JULIE JARGON, LOUISE RADNOFSKY and ALEXANDRA BERZONSome low-wage employers are moving toward hiring part-time workers instead of full-time ones to mitigate the health-care overhaul's requirement that large companies provide health insurance for full-time workers or ...
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Number of the Week: Stagnant Wage Growth
The Wall Street JournalBy Jeffrey Sparshott1 cent: The drop in hourly earnings in October from a month earlierU.S. job growth has accelerated, but the bad news is that people who already have jobs aren’t getting raises or more time on the clock.While perhaps good for corporate profits and a restraint on inflatio...
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Four Takeaways From Jobs Report
The Wall Street JournalBy Ben CasselmanEmployers added 171,000 jobs in October, better than Wall Street expectations, but the unemployment rate ticked up to 7.9%. Economists are still digesting the report, but here are a few key takeaways:Good news in the revisions: The Labor Department revised up its estimate o...
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Dodd-Frank’s Financial Outsourcing
The Wall Street JournalNew rules push business offshore, while taxpayer risk stays home.President Obama likes to describe a mythical corporate tax deduction for moving jobs overseas. But a real-life Obama policy is already encouraging financial transactions to occur outside America. Two big international banks now say ...
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Nissan Cuts Full Year Forecast on China Woes
The Wall Street JournalBy YOSHIO TAKAHASHI And CHESTER DAWSONYOKOHAMA, Japan—Nissan Motor Co. on Tuesday slashed its full year profit forecast by 20%, citing faltering sales in China, weaker demand in Europe and the strength of the yen, the second major Japanese auto maker to warn of weaker results recently.Japan's sec...
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U.K. Auto Exports Stress Parts Makers
The Wall Street JournalBy MARIETTA CAUCHIThe U.K. auto industry, which not long ago was languishing with a reputation for producing poorly designed cars, is humming again thanks to strong local demand and exports of premium brands like Jaguar Land Rover and Mini that have set the sector apart from struggling Eur...
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RTMA Golf Outing and Clambake
Over 200 attendees enjoyed the 2012 Golf and Clambake Event at Locust Hill Country Club. We had a total of 144 golfers who were joined by 40 more guests for the evening's Clambake. We would like to offer a big "Thank You" to our volunteers, and to the sponsors who made this event so successful:Platinum Spon...
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Latest Jobs Report Shows Persistent Economic Growth
The New York TimesBy CATHERINE RAMPELLThe American job market is looking a little stronger than had been feared just a few months ago, according to the government’s final labor snapshot before the presidential election.Whoever wins the election on Tuesday might even inherit an accelerating economy in 2013, if (and that...
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Workers' comp costs remain a barrier to economic growth and job creation in New York
The Public Policy Institute of New York State Inc.News ReleaseFor Release: Immediate — October 31, 2012Contact: Robert Lillpopp • 518/465-7517 Ext. 238E-mail: robert.lillpopp@bcnys.orgWorkers' comp costs remain a barrier to economic growth and job creation in New YorkALBANY—The Public Policy Institute of New York State...
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President's Message
Jay Murphy, Murphy and Nolan Inc.RTMA PresidentAt the October 25th Annual Meeting, our speaker, Paul Speranza, Vice Chairman, General Counsel and Secretary for Wegmans, made the case for developing the workforce. He talked about health and education. In particular, he discussed Wegmans’ outreach to the Rochester City S...
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RochesterWorks! Can WorkKeys Help Us Address the Skills Shortage?
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RTMA Welcomes New Regular Members
WELCOMERTMA REGULAR MembeRSP3 TechnologiesMark Shaw, PresidentAdvantech Industries Inc.James Gizzi, President...
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RTMA Welcomes New Associate Member
WELCOMERTMA ASSOCIATE MembeRPacemaker Steel & Piping of RochesterJonathan Baker, Vice President/COO...
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October Annual Meeting
On October 25th, the RTMA held its Annual Meeting at Rick's Prime Rib House. New Board Members Bob Coyne of Acro Industries and Don Vogler of FTT Manufacturing were elected.The guest speaker was Paul Speranza, Vice Chairman, General Counsel and Secretary of Wegmans Food Markets Inc.Mr. Speranza spoke to the members ab...
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U.S. Tightens Security for Economic Data
The New York TimesBy JOHN H. CUSHMAN Jr.Published: July 16, 2012WASHINGTON — On Tuesday morning at precisely 8:30, after a 10-second countdown synchronized to the Naval Observatory’s atomic clock, a Labor Department official flipped a master switch in the agency’s battened-down pressroom and computers blurted outӌ...
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Manufacturers: Affordable Care Act Won’t Lower Costs
COSTLY LAW MUST BE REPLACED BY COMMON-SENSE SOLUTIONS TO ADDRESS OUR HEALTH CARE CHALLENGESNational Association of ManufacturersContact:Jeff Ostermayer (202-637-3090)07/11/12 - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement today urging the House of Repres...
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Manufacturers: Access to Rare Earth Minerals Vital to Jobs
LEGISLATION WILL STREAMLINE THE PROCESS FOR DOMESTIC PRODUCTION OF MINERALS, BOOSING COMPETITIVENESSNational Association of ManufacturersContact:Jeff Ostermayer (202-637-3090)WASHINGTON, D.C., 07/12/12 - National Association of Manufacturers (NAM) Vice President of Energy and Resources Policy Ross Eisenberg issued this...
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U.S. Consumer Watchdog to Oversee Credit Bureaus
The New York TimesJuly 16, 2012, 12:01 AMBy VICKIE ELMERThe Consumer Financial Protection Bureau announced on Monday that it would begin supervising the leading credit bureaus, the companies that collect financial details of everyone’s life.The bureau will oversee and make rules covering about 30 credit r...
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Many Governors Are Still Unsure About Medicaid Expansion
The New York TimesBy MICHAEL COOPERPublished: July 14, 2012WILLIAMSBURG, Va. — How well the new health care law succeeds in covering millions of the poorest Americans will depend largely on undecided governors of both parties, who gathered here this weekend and spoke of the challenges of weighing the law’...
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Video: Tax Issues – Impact on Manufacturers
National Association of ManufacturersClick Here To View VideoU.S. manufacturers face higher tax costs than almost all of our competitors in other countries. The corporate tax rate in America is the highest among developed nations, and it puts the manufacturing industry at a significant competitive disadvantage i...
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Video: Manufacturing Economic Trends - Manufacturing Economic Outlook
National Association of Manufacturers - Manufacturing AssociationClick Here To View The VideoInformed investment and business planning decisions require timely analysis of key U.S. government economic data and manufacturing industry trends. An accurate view of the manufacturing economic outlook is essential for policym...
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Defense Spending Cuts: The Impact on Economic Activity and Jobs
National Association of ManufacturersNew Study Highlights Harm On Economic ActivityA new report by the NAM, "Defense Spending Cuts: The Impact on Economic Growth and Jobs", highlights the potential impact defense spending cuts under the Budget Control Act (BCA) of 2011 will have on U.S. jobs and economic grow...
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Retail Sales Drop Again
The Wall Street JournalBy NEIL SHAH And JEFFREY SPARSHOTTAmericans reined in their spending for the third straight month in June, fueling fears that the economic recovery that gathered steam early this year is stalling.Retail sales dropped 0.5% in June, the government said Monday, falling short of ...
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Dennis Shea Remarks On Smart Trade: The Revitalization Of US Manufacturing
Remarks of Dennis C. SheaChairman, U.S.-China Economic and Security Review Commission on Smart Trade: The Revitalization of US ManufacturingHow to improve U.S. trade competitiveness, grow our economy and create jobs at Rochester Institute of Technology, Rochester, NYJune 12th, 2012 Thank you very much Congresswoman Sla...
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When Pockets of Strength Just Aren't Enough
The Wall Street JournalBy NEIL SHAHAmerica's Great Plains and Midwest regions are rebounding from the recession faster than other parts of the country, but economists say their recoveries aren't enough to lift the rest of the economy out of the doldrums.Private-sector workers in the Great Plains and Midwest have seen t...
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The Tax Cliff Is a Growth Killer
The Tax Cliff Is a Growth KillerThe Wall Street JournalBy ARTHUR B. LAFFER AND FORD M. SCUDDERNo matter what happens from now on, 2013 will be a very tough year.The United States faces an economic collapse thanks to massive tax increases on Jan. 1, and continued deficit spending for years on end.Keynesia...
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Stocks Head for 7th Drop in Eight Sessions
The Wall Street JournalBy MATT JARZEMSKYNEW YORK—The Dow industrials headed for their seventh drop in eight sessions as retail sales unexpectedly fell and pessimistic outlooks from China's premier and the International Monetary Fund tempered investors' mood on the global economy.The Dow Jones Industrial Average ...
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IMF Cuts Global Growth Outlook
The Wall Street JournalBy SUDEEP REDDYWASHINGTON—The International Monetary Fund downgraded its outlook for the world economy and called on policy makers for stronger action to combat multiple risks to the weak global recovery.The IMF said Monday it expects the world economy to grow 3.5% this year, a modest down...
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RTMA Welcomes New Regular Members
WELCOMERTMA REGULAR MembeRSKingsbury Corp.William Pollock, PresidentCoach & Equipment Mfg. Corp.Steve Isaacs, Human Resource ManagerAdvanced Mold & Tooling, Inc.Julius Bartl, Owner/Manufacturing ManagerJML Optical Industries, Inc.Len DiSalvo, CFO...
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June 2012 Golf Outing
144 golfers enjoyed the 2012 RTMA golf tournament at Ridgemont Country Club. We would like to offer a big "Thank You" to all of our volunteers, and to the sponsors who made this event so successful:M&T Bank (Gold Sponsor)J&G Machine (Beverage Cart Sponsor), Trident Precision (19th Hole Sponsor), Meta...
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Press Release: Boulter Industrial Contractors Introduces Office Moving Service
For Immediate ReleaseJune 27, 2012For more information, contact: Michele Rhoda, 585-265-3260 x6704www.boulter1.comBoulter Industrial Contractors introduces office moving service Boulter Industrial Contractors, Inc. announces an expansion of its services to include office and light industrial moves. Celebrating its 120...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentRTMA Program and Benefits – What’s Missing? The RTMA is focused in three areas: access to markets, workforce development and political advocacy. We have spent several million dollars developing and implementing programs to this end. The RTMA has also run a continuous n...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentRTMA Networking The RTMA has a long tradition of facilitating connections among its members for business opportunities. As you know, monthly dinner meetings are held with speakers on a variety of topics of both general and business interest. In June, the RTMA hosts a go...
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Subsidies Aid Rebirth in U.S. Manufacturing
The New York TimesBy LOUIS UCHITELLEROME, N.Y. — Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America. But he invariably adds: "There is nothing made in the United States that has to be ...
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Senate Unveils “New Jobs-NY” Job Creation Plan
By Dean G. SkelosSenate Majority Leader Dean G. Skelos and members of the Senate Republican Conference today continued their strong focus on job creation and economic growth by announcing that the Senate will pass legislation next week to implement the 2012 NEW JOBS-NY Job Creation Plan. The Senate’s comprehensive plan...
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Asia Weakness Heightens Fears of Contagion
The Wall Street JournalBy MICHAEL S. ARNOLD And TOM ORLIKThe latest Chinese manufacturing numbers are sounding alarm bells that the Western economic turmoil could begin to drag down regional economies. The WSJ's Jake Lee talks to Aaron Back about how China can keep from being affected.Manufacturing activity in China an...
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June Golf Event at Ridgemont Country Club
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China Lets Currency Weaken, Risking New Trade Tensions
The New York TimesBy KEITH BRADSHERHONG KONG — China’s currency dropped further in May against the dollar than in any other month since the Chinese government began allowing the renminbi to appreciate gradually in the summer of 2005. The shift could help Chinese exports but worsen trade friction with Europe and particu...
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Fed's Job Gets Tougher as Employment Stalls
The Wall Street JournalBy JUSTIN LAHARTIt is déjà vu for the economy, with the third spring slowdown for job growth in a row. And it is déjà vu for the Federal Reserve, which again may feel compelled to boost efforts to shore up the economy—though with U.S. long-term rates at their lowest level in history, it isn't cle...
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U.S. Manufacturing Growth Slows
The Wall Street JournalBy KATHLEEN MADIGAN, ERIC MORATH And TOM BARKLEYThe U.S. manufacturing sector slowed down a bit in May, according to data released Friday by the Institute for Supply Management. Price pressures plunged.Separate reports noted that Americans continued to modestly increase spending in April, while i...
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U.S. Auto Sales Keep Rising
The Wall Street JournalBig Three Post Double-Digit Increases, Toyota Jumps 87% as Inventories RecoverBy JEFF BENNETT and NEAL E. BOUDETTEAuto makers on Friday reported a 26% rise in May U.S. sales of new cars and light trucks, shrugging off worries about the American economy despite further signs the recovery is slowin...
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Business Braces for Europe’s Worst
The Wall Street JournalMultinationals Scramble to Protect Cash, Revise Contracts, Tighten Payment TermsBy VANESSA FUHRMANS And DANA CIMILLUCAAs European officials race to quell fears that Greece may exit the euro, many companies doing business in the troubled country are preparing for the worst.Most executives, ...
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New York State Says Jobless Rate Steady at 8.5 Percent
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Dow’s Drop Is Worst This Year
The Wall Street JournalBy JONATHAN CHENG And MATT PHILLIPSThe Dow Jones Industrial Average sank into the red for the year after a dismal U.S. jobs report sent investors fleeing stocks and into the safety of bonds.A third straight disappointing monthly U.S. jobs report pushed the Dow industrials into the red for 2012. R...
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May Monthly Meeting
On May 17th the RTMA Monthly Meeting was held at Rick's Prime Rib House. The meeting was sponsored by First Niagara Risk Management, with Guest Speaker Peter Pecor, Executive Director of RochesterWorks. Pete gave us an overview of RochesterWorks, the history and future of the workforce system in our region, and told ...
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Subsidies Aid Rebirth in U.S. Manufacturing
The New York TimesBy LOUIS UCHITELLEROME, N.Y. — Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America. But he invariably adds: "There is nothing made in the United States that has...
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RTMA Welcomes New Associate Member
WELCOMERTMA ASSOCIATE MembeRBrown & Brown of RochesterTodd Koneski, Vice President Employee Benefits...
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Euro Zone Seeks New Growth Path
The Wall Street JournalBy STEPHEN FIDLEREuropean leaders are talking growth. Current policies, said Italian Prime Minister Mario Monti last week, aren't resolving the crisis. His message: Squeezing demand through budget cuts and trying to spur growth through supply-side measures, such as overhauling labor markets, aren...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentEnergy Is Critical To The Industrial SectorAt our last Monthly Meeting, Dr. Bud Weinstein talked about the need for federal and state policies to encourage energy exploration and development. He did reference renewable energy, but indicated it has not been profitable to ...
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Letter: Solar too costly for big investment
NewsdayWhile sunlight is free, solar panels and installation are not. Massive, ill-conceived mandates to purchase solar energy are also not free. They cost customers and jobs.The New York State Energy Research and Development Authority has estimated that the cost of achieving a 5,000-megawatt goal -- advo...
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GM Revival Slows Down
The Wall Street JournalGains in North America Aren't Enough to Offset Weaknesses InternationallyBy SHARON TERLEPGeneral Motors Co. posted a lackluster first quarter, showing some improved profitability but weakness overseas and continued losses to rival Ford Motor Co. in North America, its strongest market.GM ea...
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Minimum Wage Hike Would Cost Jobs, Set Back Fragile Economy
Joint News ReleaseThe Business Council of New York StateRobert M. Lillpopp, 518.465.7511National Federation of Independent BusinessMike Durant, 518.434.1262New York Farm Bureau Matt Nelligan, 518.431.5643Unshackle UpstateBrian Sampson, 585.256.4625Albany N.Y. — Increasing the state’s minimum wage is the ...
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Help to Repeal an Onerous New Labor Law Mandate!
The Business CouncilNew York adopted the Wage Theft Prevention Act in late 2012. The Act required that all private employers provide a pay notice to all new employees beginning in April 2011. In addition, beginning THIS YEAR and every year thereafter, employers are required to give an additional pay notice, during the ...
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With Sale, Ford Nears End of U.S. Restructuring
The Wall Street JournalBy MIKE RAMSEYFord Motor Co. is poised to shed one of its three remaining auto-parts operations, a move that would bring the auto maker a step closer to completing the global restructuring plan that helped the company return to profitability in the U.S.French parts maker Faurecia SA has ag...
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German March Manufacturing Orders Seen Up But Weak
The Wall Street JournalBy ILONA BILLINGTONLONDON (Dow Jones)--Official data is expected to show German industrial production and manufacturing orders improved in March but remain weak, adding to signs that the euro zone economy fell back into recession in the first three months of the year.And with year-on-year orders ...
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Vital Signs: Accelerating Manufacturing
The Wall Street JournalBy Conor DoughertyManufacturing growth is accelerating. The Institute for Supply Management’s index of activity in manufacturing industries rose to 54.8 in April from 53.4 in March, indicating factories have gained momentum. Readings above 50 indicate expansion. Manufacturing has been a st...
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Commies in Cadillacs: GM Turns Chinese
Posted on 03 May 2012 by Sara Haimowitz, Coalition For A Prosperous AmericaReposted from the Huffington PostPeter Navarro | May 2, 2012 | Huffington PostGeneral Motors announced this week that it will start building the Cadillac XTS, CTS and ATX in China in an attempt to keep up with the...
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U.S. Added Only 115,000 Jobs in April; Rate Is 8.1%
The New York TimesBy CATHERINE RAMPELLThe nation’s employers produced a net gain of 115,000 positions, after adding 154,000 in March, the Labor Department said Friday. April’s job growth was less than economists had been predicting.Mitt Romney, the presumptive Republican presidential nominee, immediately ...
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Private Jobs Turn Positive for Obama Presidency
The Wall Street JournalBy Sudeep ReddyFriday’s disappointing employment report showed slowing momentum in the labor market since the start of the year. But President Barack Obama, who officially launches his reelection campaign Saturday, overcame one threshold: the number of private-sector jobs in the U.S. econo...
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Workforce Productivity Falls
The Wall Street JournalBy CONOR DOUGHERTYThe productivity of U.S. workers fell in the first quarter, suggesting that companies are approaching the limit of how much they can squeeze from the workforce.U.S. nonfarm productivity—defined as output per hour worked—declined at a 0.5% annual rate in the first quarter,...
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U.S. Study Cites Worries on Readiness for Cyberattacks
The New York TimesBy MICHAEL S. SCHMIDTWASHINGTON — A study commissioned by President Obama to assess the nation’s ability to respond to terrorist attacks and man-made and natural disasters has found that state and local officials have the most confidence in their public health and medical services but are the m...
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Russian-Italian Pact Opens Arctic Ocean to Drilling
The New York TimesBy ANDREW E. KRAMERPublished: April 25, 2012MOSCOW — Russia took another step on Wednesday in the race to pump oil from beneath the Arctic Ocean with an agreement between its state oil company and the Italian energy giant Eni to jointly explore several offshore sites, though actual drilling is still y...
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China Agrees to Measures to Ease Trade
The New York TimesBy MICHAEL WINES and ANNIE LOWREYBEIJING — Chinese and U.S. leaders said Friday that they had made important progress on a range of economic issues at their annual bilateral meeting, with Prime Minister Wen Jiabao of China saying the areas of agreement had included "some important breakthr...
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Even After Jobless Claims, Jobs Picture Isn’t Pretty
The Wall Street JournalBy Paul VignaWe got two more pieces of the jobs picture this morning. Let’s look at them:First, initial claims took a big dive last week, dropping 27,000 to 365,000. You can all breathe now. It’s not all sun and roses, of course. Last week’s initial claims were revised higher, as they are seeming...
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GM Profit Slides But Tops Forecast
The Wall Street JournalBy SHARON TERLEPGeneral Motors Co. said on Thursday its first-quarter profit fell 69% to $1 billion on year-ago gains from asset sales and its struggles outside its North American market.The earnings beat Wall Street expectations and underscored continuing strength in GM's core North Ameri...
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U.S. Retail Sales Slow Unexpectedly
The New York TimesBy STEPHANIE CLIFFORDSales momentum for retailers slowed in April.The 19 chains tracked by Thomson Reuters reported a thin 0.8 percent increase in sales at stores open at least a year, missing the 1.5 percent gain that analysts were expecting.Combined with strong sales at the start of the year, the la...
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Hiring Data Reinforce View That Job Market Has Cooled
The Wall Street JournalBy Conor DoughertyWarm Winter May Have Pulled Usual Springtime Employment Ahead; Awaiting Friday's U.S. ReportA gauge of private-sector hiring showed weakness in April, the latest data to suggest the labor market has cooled a bit from its healthy early-year pace.The U.S. added 119,000 nonfarm pri...
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Customized Training Grant Funds Available for Monroe County Businesses!
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Advanced Manufacturing FAME Workshop
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RTMA Welcomes New Regular Members
WELCOMERTMA REGULAR MembeRSD.P. Tool & Machine, Inc.Peter Phillips, PresidentBarthelmes Mfg. Co., Inc.Guenther Heiss, CEO...
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April Monthly Meeting
On April 19th the RTMA Monthly Meeting was held at Rick's Prime Rib House. The meeting was sponsored by Harrison Industrial Supply, with Guest Speaker Dr. Bernard "Bud" Weinstein, Associate Director of the Maguire Energy Institute, and an adjunct professor of business economics in the business school at Sout...
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Optimax Execs Honored with 2012 New York State Small Business Person of the Year Award
News ReleaseFor Immediate ReleaseFor more information contact:Tori Uthe, Communications Specialist585-265-1020 x266tuthe@optimaxsi.comwww.optimaxsi.com"April 9, 2012 – Ontario, NY –Rick Plympton, CEO and Mike Mandina, President, Optimax Systems, Inc. were honored to receive notification that they have been awarded...
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FLCC, G.W. Lisk to hold certified soldering instructor training
NEWS RELEASEContact: Lenore Friend 585.785.1623 friendll@flcc.eduVictor, N.Y. (March 21, 2012) – Finger Lakes Community College and G. W. Lisk Co. will host a training class for certified soldering instructors May 21 to 25 at the FLCC Victor Campus Center, 200 Vict...
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RTMA Welcomes New Associate Member
WELCOMERTMA Associate MemberExcel Machine Technologies, Inc.Jason Boyle, President...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentThink GolfThe RTMA 2012 Golf Outing is scheduled for June 18th at Ridgemont Country Club. Get it on your calendar now. As always, it’s a great opportunity to play golf with your customers, employees and friends at a first-rate golf club. As you know, the event includes...
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Customized Training Grant Funds Available for Monroe County Businesses!
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RTMA Welcomes New Associate Member
WELCOMERTMA Associate MemberEndesin CorporationAlex Hanga, Technical Sales Executive...
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Business Council Statement on Budget Agreement
March 27, 2012Business Council Statement on Budget Agreement"The Business Council is pleased that Governor Cuomo and legislative leaders are continuing on the path to bringing fiscal stability back to New York.For the second year in a row, New Yorkers will be pleased that our state leaders have enacted an on-time ...
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In China, Human Costs Are Built Into an iPad
The New York TimesBy CHARLES DUHIGG and DAVID BARBOZAPublished: January 25, 2012When workers in the cafeteria ran outside, they saw black smoke pouring from shattered windows. It came from the area where employees polished thousands of iPad cases a day.Two people were killed immediately, and over a...
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Offshore Drilling Receives Twin Boost
The Wall Street JournalBy RYAN TRACYWith higher gasoline prices holding steady, the Obama administration on Wednesday took steps that could pave the way for oil and gas exploration off the coast of Alaska and in the Atlantic Ocean as it sought to combat criticism it is hostile to fossil-fuel development.The Depa...
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How to Prepare for a Match Maker Workshop - April 5, 2012
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Maker of Electric Vans Shuts
Latest Industry Victim, Azure Dynamics, a Ford Partner, Looks for a BuyerThe Wall Street JournalBy MIKE RAMSEYAzure Dynamics Corp., a producer of electric delivery vans and a partner of Ford Motor Co., said on Tuesday that it is in talks with customers and suppliers to resume p...
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China's Boom Unsettles the BRICS
Beijing's imperial foreign policy makes the others hedge their bets.The Wall Street JournalBy HARSH V PANTAs the BRICS countries hold their annual summit meeting in New Delhi, the host government says the agenda "has gone beyond the purely economic to include issues such as international terrorism, climate ...
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With Battles Over, State Budget Set
The Wall Street JournalBy JACOB GERSHMAN and LISA FLEISHERALBANY—They had tangled over pensions and taxes, casino gambling and evaluating teachers in tense battles over the past few months. But by Tuesday, Gov. Andrew Cuomo and state lawmakers were in a mellow mood, having finally agreed on a state...
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March Car Sales Expected to Be Highest in U.S. Since 2007
The Wall Street JournalBy Jonathan WelshContinuing recovery in the new-car market is expected to push March auto sales to their highest level since 2007, according to new report.The industry research and forecasting company TrueCar.com said it expects light-vehicle sales to total about 1.4 million vehicles, up almost 1...
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Durable-Goods Orders Rise
The Wall Street JournalBy JEFFREY SPARSHOTT And ERIC MORATHOrders for long-lasting goods climbed for the fourth time in five months in February, an indication that the manufacturing sector continues as a key driver of the recovery. Manufacturers' orders for durable goods--products meant to l...
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Group Backs Simpson-Bowles Plan
The Wall Street JournalHouse Members' Bid to Cut Deficit Looks a Long Shot but May Test Congress's Resolve for Budget DealBy DAMIAN PALETTAWASHINGTON—A small bipartisan group of House lawmakers, bucking their Democratic and Republican leaders, is advancing a plan to reduce the federal budget deficit by more than...
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March Monthly Meeting
On March 15th the RTMA Monthly Meeting was held at Rick's Prime Rib House. The meeting was sponsored by Financial Architects, with Guest Speaker Brian Sampson of Unshackle Upstate. Brian spoke of his experience in lobbying for issues, and the current challenges he and his organization face in changing the political c...
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RTMA Welcomes New Regular Members
WELCOMERTMA REGULAR MembeRSAbsolute Precision, LLCJeannie Brockmyre, OwnerArnold Magnetic TechnologiesMichael Carney, Machining Manager...
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Fed’s Fisher: Mexico Besting U.S. in Many Areas
The Wall Street JournalBy Michael S. DerbyU.S. economic policy makers have something to learn from the successes Mexican leaders have had over recent years, a Federal Reserve official said Wednesday.“Not only is Mexico doing better, macroeconomically speaking, than the false stereotypes would have us think, Mexico is a...
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GM, Peugeot Will Share Car Designs, Purchasing
The Wall Street Journal By SHARON TERLEP General Motors Co. will acquire a 7% stake in French auto maker PSA Peugeot Citroën as part of a broad alliance that each expects will generate significant cost savings at their struggling European car operations. The alliance will include sharing of vehicle architectures, compo...
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Small-Business Groups React To Tax Plan
The Wall Street JournalBy WSJ STAFFThe Obama administration's new corporate tax proposal is generating criticism from small-business advocacy groups that say it will do more harm than good for the nation's estimated 27 million small firms.The plan, as outlined to Congress on Wednesday, would eliminate corporate tax loo...
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Fed Sees Modest Growth
The Wall Street JournalFederal Reserve Chairman Ben Bernanke is wrestling with a conundrum: Even though the economy isn't growing very fast, unemployment has come down substantially in the past few months.Does that mean the recent drop in unemployment isn't sustainable given how slowly the economy is growing? Or does i...
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Corporate Outlooks Hint At More Pain Ahead
The Wall Street JournalBy Alexandra ScaggsU.S. companies are dialing back their quarterly profit forecasts at the highest rate since early 2009, driven by unnerving European headlines along with rising commodity and energy costs.Companies tend to understate their expectations for earnings, or guidance, because they’re ...
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Toyota to Ramp Up Production in Thailand
The Wall Street JournalBy YOSHIO TAKAHASHITOKYO—Toyota Motor Corp. will ramp up engine production capacity in Thailand, as the car maker speeds up shifting its focus toward burgeoning demand in Asia and other emerging markets.Japan's biggest car maker by volume said Wednesday that it will raise the annual capacity to m...
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Home Prices Hit New Depths
The Wall Street JournalBy NICK TIMIRAOSHome prices fell to fresh lows in December, but economists say that a drop in the number of homes listed for sale could help stabilize prices in parts of the country this year.Home prices fell by 4% last year, according to the Standard & Poor's/Case-Shiller index that tracks 2...
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Gov. Cuomo’s Pension Proposal
The New York TimesPublished: February 27, 2012 Across New York State, years of generous and sometimes overly generous benefits have made government pensions unaffordable. Thanks to contract sweeteners and giveaways by Albany politicians, New York City’s pension costs have risen more than fivefold, to $8 billion this ye...
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Panasonic Names Next President
The Wall Street JournalBy JURO OSAWATOKYO—Panasonic Corp. tapped the man who oversees its unprofitable television-set operations to become president as the Japanese electronics maker struggles to turn around extensive losses.Senior managing director Kazuhiro Tsuga, head of Panasonic's audio-visual division, also must c...
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A $250 Million Fraud Scheme Finds a Path to Brighton Beach
The New York TimesBy WILLIAM K. RASHBAUMPublished: February 29, 2012 The plot involved 10 doctors, 9 separate clinics in New York City and 105 different corporations, all in service of a health care fraud ring that federal authorities say conspired to steal more than a quarter of a billion dollars from insurance compan...
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President’s Message
Jay Murphy, Murphy and Nolan, Inc.RTMA President Associate Members Can Be A Resource There is no doubt that the RTMA agenda is focused upon advancing the competitive position of its manufacturing members (Regular Members). In addition to the manufacturers, there are service providers (Associate Members) who provide so...
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Costco’s Profit Rises 13%
The Wall Street JournalBy ANNE PALLIVATHUCKAL And NATHALIE TADENACostco Wholesale Corp.'s fiscal-second-quarter earnings rose 13% as the warehouse-style retailer's same-store sales increased.For the quarter ended Feb. 12, the Issaquah, Wash., company reported a profit of $394 million, or 90 cents a share, up from $348 ...
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Bonuses Dip on Wall St., but Far Less Than Earnings
February 29, 2012 The New York TimesBy KEVIN ROOSEBrendan McDermid/ReutersThomas P. DiNapoli, the comptroller of the State of New York.It is apparently going to take more than shrinking bank profits to put a big dent in Wall Street bonuses.The total payout to security industry workers in New York is forecast to drop on...
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Stimulus Is Maligned, but Options Were Few
The New York TimesBy EDUARDO PORTERPublished: February 28, 2012 It was the winter of 2009 and the United States economy was shrinking. In the last three months of 2008 the economy had contracted at an annual rate of 8.9 percent, the sharpest decline in more than half a century. It shrank at a 6.9 percent rate the next ...
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Dow Closes Above 13,000; First Time Since 2008
The New York TimesBy CHRISTINE HAUSERPublished: February 28, 2012 February has been a good month for the Dow Jones industrial average as it has traded at levels not seen since the 2008 financial crisis. And on Tuesday, it pulled itself across the 13,000 threshold and stayed there at the close. The index last closed abo...
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I.B.M. Researchers Inch Toward Quantum Computer
The New York Times By KENNETH CHANG Published: February 28, 2012 I.B.M. is jumping into an area of computing that has, until now, been primarily the province of academia: the quest to build a quantum computer. A computer that took advantage of the oddities of quantum physics could solve in seconds certain problems th...
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To Pay New York Pension Fund, Cities Borrow From it First
The New York TimesALBANY — When New York State officials agreed to allow local governments to use an unusual borrowing plan to put off a portion of their pension obligations, fiscal watchdogs scoffed at the arrangement, calling it irresponsible and unwise.And now, their fears are being realized: cities throughout the s...
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February Monthly Meeting
On February 17th over 70 people were in attendance for the RTMA Monthly Meeting at Rick's Prime Rib House. The meeting was sponsored by ThomasNet, and the guest speaker for the evening was Michael Stumo, Chief Executive Officer of The Coalition For A Prosperous America. Mr. Stumo discussed the critical need for fair ...
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2012 Finger Lakes FIRST Robotics Competition Regional
It's time for the electrifying, sometimes wild, and always exciting:2012 Finger Lakes FIRST Robotics Competition RegionalFriday, March 9 and Saturday, March 109 am to 5 pm each day at the Gordon Field HouseRochester Institute of TechnologySee forty-one high school teams from our compete, check out the robots, meet the ...
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Affording Energy Efficiency
“Yes that would reduce my energy consumption but I can not afford that right now” is what we hear businesses say. Companies are looking at their checking account or trying to figure out from the budget dollars they have to spend, where will the money come from; is it capital or expense? Many hear words like incentive...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentEnergy Program for RTMA MembersThe RTMA has recently developed a partnership with USource, one of the largest energy brokers in the United States, to help our members get the lowest price possible on electricity and natural gas. USource is a trusted energy advisory compa...
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National Association of Manufacturers Economic Report
On Friday, the Bureau of Labor Statistics will release its first estimate of GDP for the fourth quarter of 2011. The consensus of most economists – including myself – is that the year ended with real GDP up 3 percent in the final quarter. If true, this suggests that the economy has begun to rebound from weaknesses earl...
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Business Economists Are More Optimistic About Growth
Posted by: Chad Moutray under Economy, Studies and Reports on January 23, 2012 @ 12:20 pm In releasing the latest Industry Survey, the National Association for Business Economics (NABE) noted recent improvements in U.S. growth. In fact, Nayantara Hensel, the chair of the survey committee and a professor at National Def...
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Cuomo Budget Designed to Strengthen New York’s Economy
The Business Council For Release — January 17, 2012 ALBANY— “For the second year in a row, Governor Cuomo has presented a budget designed to strengthen New York’s economy. This budget builds on the strong foundation that was laid last year and will encourage existing businesses to grow while bringing new businesses to ...
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Chesapeake Energy Pulls Back Amid Natural-Gas Glut
The Wall Street Journal By BEN LEFEBVRE And DAN STRUMPF Chesapeake Energy Corp., one of the oil and gas producers at the origin of the U.S. natural-gas supply glut, said it will reduce drilling activity this year amid tumbling prices for natural gas. The announcement from the second-largest U.S. natural-gas producer af...
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Klein Steel Service Wins IndustryWeek’s Best Plants Award
ROCHESTER, NY. Klein Steel Service Inc, a full-line metal service center with a network of warehouses in Upstate New York, announced today that it has been named a winner in the North American trade magazine, IndustryWeek, competition for 2011 Best Plants. One of only 10 award winners throughout North America, Klein St...
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Economists See Ways to Aid Housing Market
The Wall Street Journal By NICK TIMIRAOS The underpinnings of a housing recovery are hiding in plain sight: sharp price declines, low mortgage rates and rising rents have made owning more affordable than renting in a growing number of markets. Yet housing largely remains in a funk. The prospect of continued price decli...
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Car Makers’ U-Turn Steers Job Gains
The Wall Street Journal By JOSEPH B. WHITE, JEFF BENNETT and LAUREN WEBER Big auto makers and their suppliers are spending billions to expand and retool U.S. factories, pushing heartland states to jockey to land new auto jobs. Executives say the industry's U-turn from bankruptcy filings and layoffs to hirings and capit...
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More Lockouts as Companies Battle Unions
The New York Times By STEVEN GREENHOUSEPublished: January 22, 2012 America’s unionized workers, buffeted by layoffs and stagnating wages, face another phenomenon that is increasingly throwing them on the defensive: lockouts. From the Cooper Tire factory in Findlay, Ohio, to a country club in Southern California and sug...
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How Fracking Lies Triumphed
The New York Daily NewsA much-needed source of energy has been unjustly malignedBY ROBERT BRYCE / NEW YORK DAILY NEWSPublished: Sunday, January 22 2012, 4:36 AMUpdated: Sunday, January 22 2012, 4:36 AMAmid the ongoing battle in New York and elsewhere over hydraulic fracturing, one thing has become clear: The pro-drilli...
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OECD Urges Tax Changes to Boost Growth, Reduce Inequality
The Wall Street Journal By Paul Hannon Governments should eliminate tax relief on mortgage interest payments and pension contributions, and tax capital gains from the sale of residential property in order to boost growth and reduce inequality, the Organization for Economic Cooperation and Development said Monday. In a ...
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RIT Hosts FIRST Robotics Competition, March 8-10, 2012
High school students from forty-two teams will compete in the Finger Lakes FRC Regional at RIT on March 8-10, 2012. This year’s game, Rebound Rumble, was revealed on January 7th to a worldwide audience of almost 2400 teams. At the Kickoff, FIRST teams were shown the new “Rebound Rumble” game playing field and received...
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RTMA Welcomes New Regular Member
WELCOMERTMA REGULAR MemberSydor OpticsJames Sydor, president...
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RTMA Welcomes New Associate Member
WELCOMERTMA Associate MemberFinger Lakes Community CollegeLynn Freid, Business Development Manager...
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January Monthly Meeting
On January 19th the RTMA held its monthly meeting at Rick's Prime Rib House. Approximately 65 people were in attendance. The meeting was sponsored by McDonald Cointot and Crouse, LLP, and the guest speaker for the evening was Gary Keith, Vice President of Commercial Banking at M&T Bank, who delivered an economic f...
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Finally Retire New York’s Overpriced Pensions
The New York Daily News They are eating up our state's budget BY CAROL KELLERMANN / NEW YORK DAILY NEWS Monday, January 23 2012, 4:00 AM Gov. Cuomo took an important step on behalf of New York's taxpayers when he announced last week that his second executive budget includes a new pension arrangement for future tate and...
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Consumer Prices Steady
The Wall Street JournalBy JOSH MITCHELL and TOM BARKLEYConsumer prices were flat in November from a month earlier on a big drop in energy prices and just a small advance in food costs, as inflation pressure was nil going into the final month of the year.The U.S. consumer-price index was unchanged in November from Octob...
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Kodak's Rescue Plans Hit Hurdles
The Wall Street JournalGiant Continues Efforts to Sell Patents, Borrow MoneyBy DANA MATTIOLI and MIKE SPECTOREastman Kodak Co. is running into hurdles trying to sell some of its patents or borrow more money, as the film giant scrambles to raise cash. The 131-year-old company says it is making progress on both fronts, b...
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RTMA Wraps Up Year With Holiday Cheer
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentOn December 15th, over 100 members attended the Holiday Social. It was an opportunity to visit and compare notes in a relaxed, festive environment. From my own assessment, and that of others, I noted the following:During the past year, the RTMA successfully delivered pr...
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DoGovtBiz.com Takes Local RTMA Member From Being A Non-Registered Small Business to A Government Prime Contractor
DoGovtBiz.com takes local RTMA member from being a non-registered small business, to a prime contractor who now can work directly with our Government. This was all done in less than three weeks! Their first submitted bid is upwards of $3M! We are anxiously waiting to see if this opportunity comes to fruition and if so,...
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A Look Back at Extended Unemployment Benefits
The New York Times December 16, 2011 By CATHERINE RAMPELL Tangled in the current Washington debate over extending the payroll tax is another thorny, but less prominent, policy issue: whether to also renew extended unemployment benefits. States typically allow unemployed workers to receive up to 26 weeks of unemployment...
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2011 RTMA Holiday Social
On December 15, 2011, the RTMA hosted a Holiday Social at Rick's Prime Rib House. Over 100 people attended this event to enjoy the open bar, food, and holiday cheer. The evening was a success due to the support and generosity of our sponsors. Many Thanks to Our Sponsors!Bronze Sponsors:Energy SolutionsEmpire Becks Re...
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In the Forecasting Fog, It’s Wise to Slow Down
The New York TimesBy JEFF SOMMERPublished: December 17, 2011 THE American economy certainly isn’t at peak strength. With unemployment at a painfully high 8.6 percent, it can’t be. But unless the economy receives another shocking blow, it isn’t in imminent danger of relapsing into recession. That was essentially the out...
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For Senate Tax Cut Stopgap, Odds in House Are Uncertain
The New York TimesBy JENNIFER STEINHAUERPublished: December 17, 2011 WASHINGTON — Capping a year of last-minute, half-loaf legislation, the Senate voted overwhelmingly on Saturday to extend a payroll tax cut for only two months, with the chamber’s leaders and the White House proclaiming victory, even as they punted int...
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October Annual Meeting
On October 20th the RTMA held its Annual Meeting at Rick's Prime Rib House. Elections took place and we are pleased to welcome back Martin Hunte of Omega Consolidated for another term on the Board. We would also like to welcome new Board Member Steve Hogarth of K&H Precision Products.The guest speaker for the eve...
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RTMA Promotes Members With New Internet Program
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentA major objective of the RTMA is to provide market access for its members, and as a result, we have developed an effective internet marketing plan to attract and distribute RFQs to RTMA Members. We have worked with Thomasnet to design www.contract-mfg.org. This is a new...
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Squeeze Tightens On Kodak
The Wall Street JournalCompany Sees Trouble Continuing Unless It Gets More From Patents or Sells DebtBy DANA MattioliEastman Kodak Co. said Thursday that it will have trouble staying in business over the next year if it can’t squeeze more money out of its patent portfolio or raise new funds by selling debt.The warning ...
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Growing Economies, Stagnant Wages
The New York TimesBy CATHERINE RAMPELL Dollars to doughnuts.In the midst of the Occupy protests, the income gains going to the top 1 percent have gotten a lot of attention. Another way to understand the economic frustrations of the Occupiers is to look at how much middle-class living standards have changed, and how muc...
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Less Than $26 Billion? Don't Bother.
The New York Times By EZEKIEL J. EMANUELEveryone — conservative and liberal — agrees that $2.6 trillion a year is too much to spend on health care, and that we have to cut costs. But they don’t agree on who is to blame or what is to be done.Everett Dirksen, the Republican senator from Illinois, reportedly said, “a bill...
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China Singled Out For Cyberspying
The Wall Street JournalBy Siobhan GormanWSSHINGTON—The U.S. government accused the Chinese of being the world's "most active and persistent" perpetrators of economic spying, an unusual move designed to spur stronger U.S. and international action to combat rampant industrial espionage threatening U.S. economic...
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Fed Lowers Its Forecast for Growth, But Takes No Steps
The New York TimesBy BINYAMIN APPELBAUMWASHINGTON — The Federal Reserve significantly reduced its forecast of economic growth through 2013, acknowledging that it had once again overestimated the nation’s recovery from the 2008 financial crisis. Bernanke Explains Fed DecisionDespite the bleak forecast, however, the Fed ...
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Public Union Backs New Contract, Averting Layoffs
The Wall Street JournalBy Jacob GershmanNew York’s second-largest public employees union overwhelmingly ratified a four-year contract Thursday, averting thousands of layoffs and solidifying Gov. Andrew Cuomo’s effort to extract concessions while keeping labor peace.About 70% of voting members of the Public Employees Fe...
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The Business Council - Let NY Work Unveils Six-Point Plan For Mandate Relief
November 1, 2011ALBANY— Heather Briccetti, acting-president and CEO of The Business Council, was joined by business, local government and education leaders to unveil a six-point plan for real mandate relief in New York State.“Real mandate relief is part of a broader goal of controlling total state and local spending, a...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentRTMA Provides Benefit To Help Members Acquire Workers Many of our members are searching for qualified employees. Skilled workers are at a premium and scarce. The RTMA provides a benefit to assist members achieve their objective. We offer and subsidize the employee plac...
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Business Council tells Assembly sGEIS provides pathway to natural gas drilling and economic growth
For Release — October 6, 2011ALBANY— In testimony given today before the Assembly Standing Committee on Environmental Conservation, Heather Briccetti, acting-president and CEO of The Business Council of New York State, Inc. stressed the need for New York to move ahead with a balanced approach to development in the...
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A Plan on Jobs Deserves a Hearing
By CHRISTINA D. ROMERBATTLE is brewing over President Obama’s $447 billion jobs plan. It’s a sound proposal, but you might not know that listening to some of the arguments against it. They may sound plausible, but they don’t stand up to scrutiny. Here are four of them.INDIVIDUAL TAX CUTS WON’T WORK Rising gas prices...
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Fannie Mae Knew Early of Abuses, Report Says
By Gretchen MorgensonFannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses amonth the law firms it had hired to remove troubled borrowers from their homes. but the company did little to correct the firms' practices, according to a report issued Tuesday.Only after news reports...
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Health Care, the Constitution and You
Congratulations.Your lawsuit challenging the constitutionality of the president’s health-care law has arrived at the steps of the United States Supreme Court.This terrible, costly law is not only bad policy – utterly failing to deliver on its promises of reducing health-care costs – it adds insult to injury by overstep...
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A Recession in Our Minds
By JOSHUA BRUSTEINAre we in a recession in our minds? Americans certainly seem unhappy about the prospects for the economy. Consumer sentiment remains near its lowest levels since 2009. And those daily indicators of investor confidence — the markets — have painted a very pessimistic picture; the Standard & Poor’s 5...
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200 Chinese Subsidies Violate Rules, U.S. Says
By KEITH BRADSHERUnder pressure from Congress to do more to confront China on economic issues, the Obama administration has notified the World Trade Organization of nearly 200 Chinese subsidy programs, saying many of them may violate free trade rules.Ron Kirk, the United States trade representative, said in a statement...
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Seeking Energy, Unions Join Protest Against Wall Street
Stuart Appelbaum, an influential union leader in New York City, was in Tunisia last month, advising the fledgling labor movement there, when he received a flurry of phone calls and e-mails alerting him to the rumblings of something back home. Protesters united under a provocative name, Occupy Wall Street, were gatherin...
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Making Case for Jobs Bill, Obama Cites Europe’s Woes
Stephen Crowley/The New York TimesPublished: October 6, 2011WASHINGTON - In perhaps his most sober remarks about the economy this year, President Obama on Thursday described the weakening economy as "an emergency" and made the case for his jobs bill as "an insurance policy against a possible double-dip r...
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U.S. Senate's Bill on Tariffs Angers China
By Rick GladstonePublished: October 4, 2011China expressed strong objections on Tuesday to a bill in the United States Senate that would threaten higher tariffs on some Chinese goods in response to what the bill’s sponsors call China’s policy of keeping its currency artificially depressed to give its exports a price a...
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Tale of Two Loan Programs
The Wall Street JournalU.S. Funds Targeted for Small Business Instead Used by Banks to Repay TARPBy EMILY MALTBY And ANGUS LOTENMore than half of $4 billion in federal funds disbursed this year to spur small-business lending by community banks was used to repay bailout funds that the banks received under the government...
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Labor Reports Indicate No End to Jobs Worries
The Wall Street JournalBy Ben CasselmanU.S. businesses hired more workers in September than August, according to a report Wednesday, but the growth remained far too slow to bring down the high unemployment rate.In further worrying signs for the labor market, separate reports Wednesday showed that layoffs surged in Sept...
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23 Protesters Arrested After Confrontations on Wall Street
The Wall Street JournalBy Andrew GrossmanPolice arrested 23 people in Lower Manhattan Wednesday night after a large, peaceful daytime march against corporations and the financial system ended in a series of skirmishes between protesters and law enforcement.Most were arrested for disorderly conduct, NYPD spokesman Paul ...
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Optimax Press Release
For Immediate ReleaseFor More Information Contact:Rick Plympton, CEO585-265-1066 x206Inc. Magazine Unveils Its Annual Exclusive List of America’s Fastest Growing Private Companies - the Inc. 500|5000Optimax ranks 4680th At Optimax we are honored to be recognized as one of “America’s Fastest Growing Private Companies” t...
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Geithner Cites Banks Risk-Aversion as Threat to Economy
The Wall Street JournalBy JEFFREY SPARSHOTT And TOM BARKLEYWASHINGTON-Treasury Secretary Timothy Geithner said Thursday that financial institutions in the U.S. risk holding back the economy if they remain too cautious after the financial crisis."If you look at the U.S. economy today, I'd say the biggest risk we fa...
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National Energy Awareness Month - Energy Solutions USA
"Turn Words Into Action, Turn Action Into Results"October 2011 National Energy Awareness MonthEnergy management has become the buzz phrase for the past couple of years as people try to establish themselves within the market. For those on the business side however, the main concern is that they have one more ...
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RTMA Fall Golf Outing and Clambake
Over 200 attendees enjoyed the 2011 Fall Event at Locust Hill Country Club. We had a total of 151 golfers who were joined by 78 more guests for the evening's Clambake. We would like to offer a big "Thank You" to our volunteers, and to the sponsors who made this event so successful:Gold Sponsor: Optipro Sys...
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Workers' Compensation Loss Cost Increases
Workers’ Compensation costs in New York are rising. This is due in part to the New York State Compensation Insurance Rating Board (NYCIRB) increasing Loss Costs for most manufacturers effective upon their workers’ compensation policy renewal on or after 10/01/2011. Insurance Companies writing workers’ compensation ins...
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2nd Annual Social Media Conference
The RTMA is proud to be a sponsor of the 2nd Annual BizBuzz Social Media Conference, which offers business owners and marketing communications professionals a look at best practices for using social media productively. The conference explores the impact of social media on marketing, business development, PR and gives p...
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RochesterWorks! and RTMA Collaboration
Peter Pecor, Executive DirectorRochesterWorks!I would like to thank Kevin Kelley and RTMA for their continued effort to inform the public about the opportunities and need to address the skilled worker shortages that exist in the field of Advanced Manufacturing. The Rochester/Monroe County region continues to have a str...
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Manufacturing a Recovery
The New York TimesBy SUSAN HOCKFIELDPublished: August 29, 2011 THE United States became the world’s largest economy because we invented products and then made them with new processes. With design and fabrication side by side, insights from the factory floor flowed back to the drawing board. Today, our most important ta...
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RTMA Welcomes New Associate Members
WELCOMERTMA Associate MembersPower Management Company, LLCJohn Burt, PresidentUBS Financial ServicesCheri Landin, Vice President InvestmentsRSM McGladrey/Freed, Maxick & Battaglia CPA's, P.C.Tom Agnello, Business Development ExecutiveThe Upstate National BankKathleen R. Whelehan, President & CEOEnergy Solutions...
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Optimax Systems Press Release
Intern Case Study: Brendan Larrabee, Continuous ImprovementSeveral interns successfully completed summer projects and Optimax is thrilled at their progress and potential. Optimax works with local high schools and colleges to place students in a work environment that exposes them to their field of interest while providi...
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Finding skilled workers? Count yourself lucky.
By Clare Goldsberry Published: September 2nd, 2011 Unemployment is one problem, but just as serious for many companies in the plastics industry is finding skilled workers to fill the hundreds - perhaps thousands - of jobs available at processing facilities and in mold making. Companies that want to grow, and eventually...
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September Golf Outing and Clambake
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President's Message
Jay Murphy, RTMA PresidentPromote Your CompanyThe RTMA is continuing to provide its members with the resources to promote their companies on Channel 10. The promotional campaign is entitled “The Best Company You Never Heard Of”. There is a multi-purpose objective of this campaign. One objective is to generate awaren...
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June 2011 Golf Outing
125 golfers enjoyed the 2011 RTMA golf tournament at Ridgemont Country Club. We would like to offer a big "Thank You" to all of our volunteers, and to the sponsors who made this event so successful:M&T Bank (Gold Sponsor)J&G Machine (Beverage Cart Sponsor), Trident Precision Mfg. (19th Hole Sponsor),...
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Public Policy Institute: Natural gas drilling is essential to New York's economic recovery
FOR RELEASE: Immediate – July 14, 2011CONTACT: Robert Lillpopp – 518-465-7517 Ext. 238 E-mail: Robert.lillpopp@bcnys.orgALBANY — There are very few opportunities available to New York State with the same job-creating potential as exploring and developing the Marcellus Shale formation, according ...
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After Big Early Gains, Rally Fizzles a Bit
By REUTERSPublished: July 13, 2011Stocks stopped a three-day slide on Wednesday, but ended well off the day’s highs as investors took the suggestion of further Federal Reserve stimulus as a mixed blessing. Stock index futures dropped after Moody’s Investors Service said it might cut the United States’ triple-A rating b...
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Unshackle Upstate Update - July 8, 2011
From the desk of Executive Director Brian SampsonA Message from Brian Sampson Following the enactment of the 2-percent property tax cap into law last month, Governor Cuomo has been holding a number of bill signing ceremonies across the state. This week, as a result of our dedicated work on the issue, Unshackle Upstat...
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Opinion: Government-Sponsored Meltdown
The Wall Street JournalFannie Mae did not contribute "marginally" to the financial crisis. It was the source of the declining mortgage underwriting standards that brought down the system.When the Financial Crisis Inquiry Commission (FCIC) reported in January that the 2008 crisis was caused by lax regulation,...
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Where have America's Jobs Gone?
The Wall Street JournalThere are many reasons U.S. companies give for their lack of robust hiring—from weak consumer spending to uncertainty over the direction of government policies on debt and spending.But a closer look at hiring provides a more nuanced picture. Some industries have significantly boosted employment o...
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With Sonic, G.M. Stands Automaking on Its Head
ORION TOWNSHIP, Mich. — The only subcompact car being built on American soil will soon roll out of an assembly plant here in suburban Detroit that is as unusual as the car itself. The production line has been squeezed into half the space of a traditional plant. Welding robots are concentrated in efficient clusters, ins...
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Optimax Press Release: Optimax Brings On Summer Interns
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RTMA Welcomes New Associate Members
WELCOMERTMA Associate MembersHi-Tech FastenersJulie Karris, Sales RepresentativeMSC Industrial Supply Co.L. Patrick Aldrich, Branch Sales Manager...
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President's Message
Jay MurphyRTMA PresidentRTMA Collaborates With MCC Machining/CNC BootcampThe RTMA is working with Monroe Community College to assist it in implementing a job readiness training program for entry-level advanced manufacturing workers. We are asking for members’ involvement.The Bootcamp will be conducted during July and ...
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Optimax Press Release: The Marriage of Manufacturing and Engineering
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Housing Imperils Recovery
Housing Imperils Recovery Home Prices Sink to 2002 Levels; Consumer Confidence Falls as Pessimism GrowsBy S. MITRA KALITA And NICK TIMIRAOS (See Correction & Amplification Home prices have sunk to 2002 levels, effectively wiping out almost a decade's worth of home equity across the U.S. and imperiling the fragile e...
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Worldwide Factory Activity - By Country
The Wall Street JournalJune 1, 2011By Phil IzzoManufacturing Activity, By CountryGlobal manufacturing slowed across the globe in May, amid lackluster consumption in the U.S. and Europe and lingering effects of Japan’s earthquake and tsunami.In one hopeful sign, Japan’s factory sector moved back into expansionary territ...
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June Golf Outing
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Making Things in America
The New York TimesBy Paul KrugmanPublished May 19, 2011Some years ago, one of my neighbors, an émigré Russian engineer, offered an observation about his adopted country. “America seems very rich,” he said, “but I never see anyone actually making anything.” That was a bit unfair, but not completely — and as time went by...
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KeyBank Economic Update
May 2011 I guess the world did not end last Saturday (5/21). That means I’m on the hook for another Monthly. On second thought, maybe the world as we knew it did end! The economy is emanating some negative vibes, and I recommend heeding those warnings, especially in manufacturing. I know that many in manufacturi...
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Stocks Root for a Greek Debt Deal
The Wall Street JournalDow Jumps at End of a 'Down' Month on Hopeful Signs from Europe; Bonds, Oil and Euro RallyBy JONATHAN CHENG New hopes that European nations will reach a deal to avert a Greek debt default pushed global financial markets to a buoyant finish for the month of May.Bonds of Greece and other peripheral...
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An Introduction to the Global Harmonization System
During the May Monthly Meeting, Larry Pecor, a Certified Safety Professional from Paris Kirwan., brought to our attention a major OSHA change will soon impact us all. That change is the Global Harmonization System. Essentially, the Global Harmonization System (or GHS) was developed by the United Nations in an effort t...
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Business Council Applauds Property Tax Cap Progress
ALBANY— “The new property tax cap proposal moves New York closer to an economic recovery. Now both houses of the legislature have agreed with Gov. Andrew Cuomo that New York needs to implement a hard tax cap in order to protect taxpayers and businesses. A cap will help bring fiscal discipline to government and dramatic...
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Help Wanted on Factory Floor
U.S. manufacturing companies, long known for layoffs and shipping jobs overseas, now find themselves in a very different position: scrambling for scarce talent at home.Large and small manufacturers of everything from machine tools to chemicals are scouring for potential hires in high schools, community colleges and the...
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Optimax's Unique Benefits Attract Star Performers
Optimax has been manufacturing precision optics for 20 years. Those years have been spent attracting talented and highly skilled workers to keep the company on the cutting edge of technology and providing leadership in the marketplace. Advanced manufacturing, with lean manufacturing cells, computer controlled machinery...
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President's Message
Jay Murphy, RTMA PresidentLast Chance On TradeshowThe RTMA is exhibiting its 10’x20’ display at the Medical Design & Manufacturing East Show, June 7-9, at the Jacob K. Javits Center in New York City. Presently, seven members are participating in the program. This is an opportunity to access hundreds of potential ...
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BMW's Quarterly Profit Soars
The Wall Street JournalBy CHRISTOPH RAUWALD BMW AG's first-quarter profit more than tripled amid booming demand in China and a recovery of the U.S. luxury-car market. The Germany auto maker posted a €1.2 billion ($1.78 billion) profit, up from €324 million last year. Revenue in the three-month period climbed to €16 bil...
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Service Sector Shows Recovery's Weakness
The Wall Street JournalBy SARA MURRAY WSJ's Paul Vigna reports ADP payroll figures came in weaker than expected. Also, EU and IMF agree on a $116 billion bailout for Portugal.Sluggish service-sector activity and modest job growth in April offer the latest signs the economic recovery is merely sputtering along, reports ...
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A Mission Not Yet Accomplished
The New York TimesBy DAVID LEONHARDTPublished: May 3, 2011It’s obviously been a good week for the Obama administration. But it comes at a dangerous time, for both the administration and the economy. The excitement over tracking down Osama bin Laden could end up making the president and his advisers less panicked over t...
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High-Earning Households Pay Growing Share of Taxes
The Wall Street JournalBy John D. McKinnon As President Barack Obama pushes to raise income taxes on high earners, opponents are seizing on data that indicates these U.S. households already pay a large and growing share of taxes, even compared with high-tax European countries. And a new congressional study concludes th...
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OSHA Global Harmonization Systems
A Message From Paris-Kirwan Associates:OSHA has been in the process of considering the implementation of a new United Nation's chemical standard called the Global Harmonization System, which has now been approved and will be initially implemented in August of 2011. It is probably the most significant change to OSHA in ...
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RTMA Hall of Fame Induction Ceremony
On April 28, 2011, almost 200 guests gathered at Oak Hill Country Club to honor three outstanding individuals on their induction in the RTMA Hall of Fame:Nicholas Juskiw, President & CEO, Trident Precision ManufacturingMichael Nuccitelli, President & CEO, Parlec, Inc.Gary Rogers, Owner & President, Dock Har...
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RTMA Welcomes New Associate Members
WELCOMERTMA Associate MembersJ. Grippe Industrial SupplyJody Grippe, PresidentThomasNetMike Grugnale, Territory ManagerAxis New YorkTim Thurley, PresidentBest Times FinancialKevin Best, President...
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On-the-Job Training/National Emergency Grant
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Five Star Tool Company
We have built our reputation for service by delivering tooling solutions that exceed our customer’s expectations. Our dedication to reducing our client’s tooling costs while at the same time improving their productivity is what drives us every day.Five Star Tool is a full service tooling company that boasts years of to...
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Qualicoat Inc. Earns ISO 9001:2008 Certification
Churchville, NY April 12, 2011 -- Qualicoat Inc. recently earned ISO 9001:2008 Certification for “The Application of Industrial, Military Functional and Cosmetic Coatings & Graphics to Customer Specifications as well as Supporting Pretreatment Processes of Iron and Zinc Phosphating per TT-C-490 and Conversion Coat...
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Optimax emphasizes employee retention
In 20 years of business, Optimax has undergone two major expansions and increased the number of employees from less than ten to more than 150, with more than 40 employees having been with Optimax for ten years or more. Retaining good employees is just as important as recruiting good employees and we want to keep our t...
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The World Economy Shifts Eastward
March 24, 2011, 9:30 am — Updated: 9:30 am -->The World Economy Shifts EastwardBy CATHERINE RAMPELL William Easterly points us to a provocative new paper by Danny Quah on how the center of the world economy is shifting eastward.Professor Quah, an economist at the London School of Economics, has calculated “the av...
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Tax Holiday Rejected on Overseas Profits
The Wall Street JournalBy JOHN D. MCKINNON The Obama administration on Wednesday rejected the idea of a tax holiday for U.S. multinationals' overseas income, criticizing a plan being floated by some House Republicans and multinational companies for a stand-alone relief measure. Treasury officials said they would only c...
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Getting Money Into the Hands of Small Businesses
The Wall Street JournalBy ANGUS LOTEN The recession's grip on small-business owners has loosened, but unemployment remains stubbornly high and access to credit is still tight. To fight the effects of flat sales and weak profit, Small Business Administration chief Karen Mills has been focused on getting smaller firms th...
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Shares End Higher, Lifted by Technology and Falling Jobless Claims
By CHRISTINE HAUSERPublished: March 24, 2011Stocks closed higher Thursday, helped by rising retail and technology shares, as investors pushed aside concerns about sovereign debt problems in Europe. Mergers, corporate results and economic data in the United States have supported stocks in recent weeks, offsetting the p...
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A Message from Five Star Bank
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President's Message
Jay Murphy, RTMA PresidentMEMBERS APPROVE NAME CHANGEAt the March 17th monthly meeting, the members unanimously approved changing the organization’s name from Rochester Tooling and Machining Association to Rochester Technology and Manufacturing Association. This change more accurately represents the transition in the...
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Toyota Says Scarce Parts to Idle Some U.S. Plants
By NICK BUNKLEYPublished: March 23, 2011 DETROIT — Toyota told its workers in North America on Wednesday that it expects to halt production at one or more plants because of shortages of Japanese-made parts. The carmaker said it did not know where or when it would need to cut output but that it had become clear in the n...
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KeyBank Economic Quick Take
By Dr. Ken Mayland, Clearview Economics, LLCHere’s my quick take. 1. The numbers. Durable goods orders for February unexpectedly fell 0.9%. They expanded 3.6% for January, but mostly on the strength of commercial aircraft orders. Durable goods shipments for February edged 0.3% higher, following an increase of 0.2% f...
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Census 2010 Figures show NYC growth, upstate loss
Wall Street JournalMARCH 24, 2011Associated Press ALBANY, N.Y. — Census 2010 figures for New York state show minimal growth in New York City over the past decade and population losses in the largest upstate cities.Census officials say New York City grew by 167,000 people to 8.2 million. Mayor Michael Bloomberg says he ...
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Plants Face New Worries
Wall Street JournalSpread of Radiation in Japan Fuels Questions About Evacuation Plans in U.S. By DANIEL GILBERT Dangerous levels of radiation found some 25 miles from Japan's damaged nuclear facility raise questions about U.S. emergency-response plans that call for evacuating residents only within a 10-mile radius of...
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Forced Into Medicare
Wall Street Journal A federal judge tells seniors to take it or lose Social Security.This week marks the first anniversary of ObamaCare, and if you are wondering where that coercive law is headed, we'd point to a case in federal court. That's where Judge Rosemary Collyer has ruled that Americans have a legal obligation...
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Durable-Goods Orders Drop
Wall Street JournalBy JUSTIN LAHART Demand for long-lasting manufactured goods fell in February, and a key measure of capital spending fell for a second month, indicating that despite rising sales, companies are only cautiously buying new equipment.Orders for durable goods fell 0.9% in February from January to $200 bil...
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RTMA Welcomes New Associate Members
WELCOMERTMAASSOCIATE MEMBERSMooney Consulting, LLCMichael E. MooneyEmpire Becks Recycling Solutions, Inc.Scott EckertIndustrial/Commercial Sales...
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Corporate Tax Planning Starts Now
There were a number of important tax law changes in 2010 that may have a significant impact to businesses and their owners. Enacted December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 provided little time to plan. However, many of the provisions set to end in 2010 we...
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Optimax Supports Local Students in 2011
Optimax is once again supporting local high school and college students by offering internships and co-ops. This is a practice Optimax feels strongly about as we are pleased to offer students a workplace experience that will give them better perspective to determine a more meaningful path for their future. Optimax, as...
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RTMA Welcomes New Regular Member
WELCOMERTMAREGULAR MEMBERWoerner Precision PartsPhilip CollinsPresident...
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March Monthly Meeting
On March 17th the RTMA held its monthly meeting at Rick's Prime Rib House. Approximately 75 people were in attendance. The guest speaker for the evening was Dick Kaplan, CEO of Torvec Inc., an industry leader in the design and development of patented technology used primarily in the automotive industry. He has had ex...
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President's Message
Jay MurphyRTMA PresidentRTMA And The 21st CenturyRecently, you received a letter informing you that the Board of Directors has unanimously recommended that there be a name change to our organization. The recommended new name is "The Rochester Technology and Manufacturing Association". We will still be known...
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Medicaid cuts proposed as program grows (Newsday)
Mar. 2, 2011 (McClatchy-Tribune Regional News delivered by Newstex) -- ALBANY -- As Gov. Andrew M. Cuomo tries to cut nearly $1 billion from Medicaid, he is facing record enrollment in the program, including the highest number of Long Islanders ever, experts and government officials said.More than 300,000 Nassau and Su...
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Business Council says spiraling property taxes show need for cap
ALBANY— Despite falling property values in many places, New Yorkers paid $2.3 billion more in property taxes in 2010 than they did in 2009, according to an analysis by the Public Policy Institute, the research affiliate of The Business Council of New York State, Inc.Property owners in New York Sate paid a staggering $4...
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Business Council Supports Quick Passage of Recharge NY Power Program
ALBANY— “A long term economic development power program will help create and retain good paying jobs in New York. The Business Council strongly supports the Administration’s “Recharge NY” proposal, and appreciates that the State Senate is moving it forward, said Heather Briccetti, acting-president & CEO of The Busi...
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The Business Council - Government Affairs Albany Update
BUSINESS COUNCIL EVENTSConstruction/Transportation CommitteeThe next meeting of The Business Council’s Construction and Transportation Committee is Tuesday, March 1, 2011 from 8:30 am to 10:00 am at 12 Corporate Woods Boulevard, Albany, NY. The purpose of the meeting is to discuss labor related legislation, state budge...
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RTMA Welcomes New Regular Members
WELCOMERTMAREGULAR MEMBERSJrlon, Inc.Jim RedmondOwnerP. Tool & Die Co., Inc.Tom AllenPresidentSteiner Technologies, Inc.Andrew NolanPresidentSuperior Technology, Inc.John ShortinoPresident...
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February Monthly Meeting
On February 17th the RTMA held its monthly meeting at Rick's Prime Rib House. Approximately 75 people were in attendance. The guest speaker for the evening was Dr. Anne Kress, President of Monroe Community College, which plays a very important role in providing the skilled labor supply to our industry. Dr. Kress spok...
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RTMA Welcomes New Associate Members
WELCOMERTMAASSOCIATE MEMBERSN'Ware TechnologiesDan ParentPresidentParis Kirwan AssociatesSteve CongerAccount ExecutiveHSBCJoe KoenigVice President...
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How To Bid on a DOD Contract
For manufacturers & wholesalers registered to sell to the federal government and military. Finding drawings impossible? Once you find them can't view them? Do you find bids confusing? Can't figure out if you have the information required to bid? This workshop will help manufacturers and wholesalers unlock the ans...
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Monroe County Executive Maggie Brooks Announces Expansion Of GreatRate Program
Monroe County’s GreatRate program offers businesses an interest subsidy on a fixed rate loan or a capital lease used to purchase a minimum of $50,000 of qualifying machinery and equipment. The following enhancements have been made to this program:* A company can now have two GreatRates simultaneously* The maximum subs...
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RIT Launches New Sustainable-Systems Master’s Degree
Rochester Institute of Technology’s Golisano Institute for Sustainability seeks to further the education of next-generation professionals in the sustainability area through a new master’s degree in Sustainable Systems. The program, recently approved by the State of New York, will promote sustainable development through...
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President's Message
Jay Murphy, Murphy and Nolan, Inc.RTMA PresidentRochester Tooling and Machining Association Marketing Video Wins CINE 2010 Golden Eagle AwardThe RTMA’s marketing and sales program has won a prestigious CINE Golden Eagle Award in the business sales promotion category for a video promoting an innovative re-manufacturing ...
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Monroe County Executive Maggie Brooks Announces Expansion Of GreatRate Program
Monroe County’s GreatRate program offers businesses an interest subsidy on a fixed rate loan or a capital lease used to purchase a minimum of $50,000 of qualifying machinery and equipment. The following enhancements have been made to this program:A company can now have two GreatRates simultaneouslyThe maximum subsidiz...
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Optimax Inks Supplier Deal With China's SMEE
Multi-year agreement will bring 50 new manufacturing jobs to Upstate New York [Ontario, New York]—Optimax Systems, Inc. today announced that it had signed a multi-year preferred supplier deal with Shanghai Micro-Electronics Equipment Co., Ltd. (SMEE: www.smee.com.cn). The signing was memorialized in the White House F...
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RTMA Welcomes New Regular Members
WelcomeRTMAREGULAR MEMBERSTeale MachineMichael LaRockVice PresidentRocCeraSam GhoshPresident...
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RTMA January Monthly Meeting
On January 20th the RTMA held its monthly meeting at Rick's Prime Rib House. Approximately 75 people were in attendance. Executive Director Kevin Kelley congratulated President of the Board, Jay Murphy, for a job well done in his tenure as President of the RTMA in 2010. He presented Jay Murphy with a token of the RTM...
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State's budget deficit bigger than expected, DiNapoli says
Emily Stewart • Poughkeepsie Journal • January 20, 2011 State Comptroller Thomas DiNapoli said the budget deficit for the next fiscal year, which starts April 1, could reach $11 billion.DiNapoli said the projected budget deficit for the current fiscal year, which ends March 31, will be higher than the state Division of...
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Business Council Action Agenda 2011
The Business Council Growth Agenda – Making New York Competitive Again Growth Agenda detailed memo Here is a snapshot of our current priorities: Reduce Government Spending and Taxes; Promote Fiscal Reform Enact a state-wide Property Tax Cap (with local mandate relief)Impose a State Spending Cap (limit annual increases ...
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Cuomo Considers Cutting Up To 15,000 State Jobs
By NICHOLAS CONFESSOREPublished: January 20, 2011ALBANY — Gov. Andrew M. Cuomo is considering reducing the state workforce by up to 15,000 workers in his budget, the largest cut to the government payroll in recent years, two people briefed on the plan said Wednesday night. The prospective cuts are likely to accompany l...
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In Wreckage of Lost Jobs, Lost Power
The New York TimesBy David LeonhardtAlone among the world’s economic powers, the United States is suffering through a deep jobs slump that can’t be explained by the rest of the economy’s performance. The gross domestic product here — the total value of all goods and services — has recovered from the recession better th...
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Flyer - January Monthly Meeting
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