From Business Today:
The Steven J. Baum, P.C. will close, resulting in lost jobs for 90 full- and part-time workers. The foreclosure law firm, which was once one of the largest in the state, pulled the plug after Fannie Mae and Freddie Mac said they would no longer use the firm. The Amherst company has run into trouble time and again for the way it has handled mortgage foreclosure filings. There is no word yet on whether Pillar Processing, which handles paperwork for the firm, will close. If it does, another 600 people will lose jobs.
A nonprofit agency that provides services for individuals with disabilities will get $11 million in tax-exempt funding through an Erie County Industrial Development Agency affiliate. The Cantalician Center for Learning is embarking on a $14.7 million project to renovate the former St. Barnabas Catholic Church and school in Depew. It will consolidate its two existing campuses in Buffalo and Amherst to one in Cheektowaga.
The Buffalo Niagara Partnership, along with business and political leaders throughout Erie and Niagara Counties released their 2012 Regional Agenda Monday. The report lists projects they feel should be a top priority in order to spur economic development in Western New York. Topping the list were actions to complete the Peace Bridge plaza.
Synacor has filed for an initial public offering. It's the second time the Buffalo Internet services provider will try to raise money by selling stock to the public. The 253-employee company lost $3.4 million in its first failed IPO attempt in 2007, just before the stock market imploded. Synacor hopes the IPO will raise $75 million, which it will use to make acquisitions and develop new products.
Who is getting hired, promoted and honored?
Synacor is about to get it on with an IPO. Here's a Synacor employee singing "Let's Get it On" at the company's karaoke competition: