From Business Today:
A coal-burning power plant in Somerset has sold. AES Corp. put the plant up for sale in February, saying it had become unprofitable. In a preliminary $300 million deal, AES has agreed to sell the plant to a group of its bondholders. AES Eastern Energy, which owns AES Corp. and other coal plants in New York, filed for Chapter 11 bankruptcy last week.
Work could be started on a modified plan for redevelopment of the former AM&A department store complex downtown as early as six months from now, but only if there are changes made to a state law. Rocco Termini said he can't go forward with the $50 million plan without state and federal historic preservation tax credits. He is hoping a $5 million cap on those credits will be lifted, saying the additional funds will make the project possible.
James Finamore, executive director of the Buffalo and Erie County Workforce Investment Board for more than 10 years, has been unexpectedly ousted from the position by new County Executive Mark C. Poloncarz's administration. Poloncarz said he made the decision because he wants to take a more aggressive approach to workforce and economic development. A new appointee is expected to be named soon.
A 40-year-old North Tonawanda institution has closed its doors. Pizza Junction, an iconic pizzeria on Erie Avenue, closed Sunday night after a planned sale to a new buyer fell through. A notice on the company's Web site said it will continue to deliver its half-baked, frozen pizzas online throughout the country via a virtual pizzeria.
Rocco Termini has bought the alleyway behind Hotel Lafayette from the city. He'll use it to put up a multilevel outdoor patio. That doesn't sit well with Jake Schneider, owner of the adjacent Warehouse Lofts at 210 Ellicott Street. He's worried the patio will hamper access to his building and that noise from the patio may upset his tenants.
Who is getting hired, promoted and honored?
Here's Pizza Junction on the Food Network's "Diners, Drive-ins and Dives,":