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Borders ready to liquidate, forum says IDAs are no good and EPA's timing is not in sync with state's on hydrofracking

From Business Today:


Bankrupt bookseller Borders will begin liquidation sales at its stores as early as Friday. The company has stopped selling gift cards, but will continue to accept them for purchases made even after liquidators take control of stores. The Cheektowaga store was busier than usual Tuesday as customers flocked to use up their remaining gift cards, but the atmosphere was glum as employees readied themselves to face unemployment. 10,700 people will be out of work when Borders closes its doors.


A forum on urban reinvestment held by the Partnership for the Public Good Tuesday railed against industrial development agencies. The agencies are incentivized to make bigger deals so they in turn get bigger funding said Sam Magavern, co-director of the group. That in turn encourages sprawl and does nothing to help smaller local business or create jobs.


 Hydraulic fracturing is moving full steam ahead in New York State, which means a study of it by the Environmental Protection Agency will probably not be completed until hydrofracking has already begun. The EPA's study is expected to be finished by 2014 and to focus on the affect hydrofracking will have on water supplies. Environmental groups say the state's fracking recommendations fall short: it does not call for a ban on toxic chemicals in fracking fluid, doesn't categorize drilling waste as hazardous and allows the waste to be treated by sewage plants.

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