Strictly Business

From Business Today:

The sale of the HSBC retail branches in upstate New York could  have a dramatic impact on the status of the remaining local banking powers. If any one of the remaining top three banks in the region - M&T, First Niagara and Key Bank - buy the HSBC branches, that bank will catapult to No. 1 in the region. Rumors and unnamed sources maintain that all three banks are talkign to HSBC about buying some of the branches.

When times get tough, it seems the boat is the first thing to go. Are marinas say that while they are busy this summer season, a softening of the the boating industry is apparent. Reasons abound for empty dock spaces at some marinas - but boat sales are sagging nationwide. Still, as several local mariners pointed out, boating remains an affordable luxury around here.

The state Insurance Department is making inquiries at life insurance companies about how those companies determine when a policy holder has died. It seems come companies are very quick to note a death to cease annuity payments, but are not so fast to note a death when policy benefits must be paid out.

Dickie's Donuts was a local chain long before Tim Hortons and Dunkin' dominated the landscape. The homey chain of franchisee-owned shops reached 19 at its peak. But as competition mounted, the Dickie's shops slowly shut down. On Saturday the final Dickie's Donuts closed. Dave Costanzo, 61, hung up his apron on Saturday after making the doughnuts for 30 years. No word yet on what the shop on Dingens Street near Ogden will become.

The Small Business Administration's monthly report card shows that M&T  Bank continues to loan the most money to small businesses through the federal SBA program. Overall, more loans are being made, which is a good sign for the local economy.

Recent local real estate transactions...