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Cigarette tax woes, bankruptcy filings and promotions...

From Business Today:

Pity the poor smokers. First we kick them out of every building and make them smoke out in the cold. Now the state has ratcheted its cigarette tax by $1.60 a pack, pushing Wilson Farms the prices of some brands to near $10 a pack. One consequence has been a drop in business at convenience stores. The stores are getting whacked by the tax hike and by the availability of cheaper cigarettes on Native American Reservations and the internet. Some stores, including the Wilson Farms chain, have started cutting jobs to keep profits up.

Western New York's slow and steady economy has weathered the recession as well as any in the country. The latest numbers showing the area's resiliancy are personal bankruptcies. They are well below the national averages.

Wilmington Trust Corp. was in desperate straits when M&T Bank Corp. swooped in earlier this month Wilmington and bought the bank at a fire sale price. While some Wilmington shareholders claim the price was too low, a recent SEC filing shows the bank didn't have any other decent alternatives.

Who is getting hired, promoted or honored?

  

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