"This is our time," Koelmel tells business leaders
From Business Today:
John Koelmel, First Niagara Financial Group's chief executive officer, was the keynote speaker at The Buffalo News' Prospectus Premiere, the annual unveiling of The News' special business section. Addressing the event's 200 attendees, he stressed the importance of collaboration, of stepping up as a leader, and said the key to Western New York's success is for business people to put egos, politics and negativity aside.
Profits were up 27 percent at First Niagara Financial Group during the fourth quarter. The bank reported net income of $58.5 million, or 19 cents per share, compared with $45.9 million, or 22 cents per share during the same period last year. The rise in profits was attributed to strong commercial loan and core deposit growth, as well as its recent expansion into New England.
A local, full-service advertising agency marked its 25th anniversary by donating 25 straight hours of free work to a fledgling local startup company. All 45 employees at Crowley Webb on Main Street worked from 9 a.m. Thursday to 10 a.m. today creating a brand campaign for You and Who, a one-year-old, online T-shirt company. You and Who, which donates T-shirts and meals to charity with every sale, was the winner of Crowley Webb's Twenty-Five-Hour Workday Contest, which was open to local companies 25 months old or younger. It narrowed the more than 40 applicants down to three, then put them up for a vote.
The Clarence Industrial Development Agency approved tax breaks for two companies Thursday. Paula's Donuts will receive $8,000 on a $125,000 new Main Street location. It will create 20 full- and part-time jobs. RV Rhodes, a strategic consulting firm, will receive $8,000 to move from Main Street in Buffalo to Main Street in Clarence.
Five local affordable housing initiatives received funding from the Federal Home Loan Bank of New York's Affordable Housing Program. Three affordable housing initiatives in Buffalo, one in Niagara Falls and one in North Tonawanda received subsidy awards totalling $1.17 million. The winners were True Bethel Townhouses on East Ferry Street, Cephas House on Smith Street, the Hope Center at Ruhland and Oberlin Avenues, Center Court Phase II in Niagara Falls and Heritage Christian Services in North Tonawanda.
Who is getting hired, promoted and honored?
