From Business Today:
Ford Motor Co. uses virtual reality technology to test automobile design years before the protoypes are ever even made. Company representatives brought that technology to Erie Community College Tuesday to give about 50 automotive technology students a taste of how it works. Students got to virtually test out a 2013 Ford Fusion, the makers of which relied heavily on the virtual technology when designing it.
API Heat Transfer has gotten its fourth new owner since 2002. Wellspring Capital Management, a New York City private equity firm, acquired the business from another private equity firm, Industrial Growth Partners in San Francisco, Calif. The company employs 178 workers at its Arcade plant and has plants in Germany and China. The Cheektowaga-based company makes industrial heat exchangers.
Penora's Pizza, a Depew pizzeria, and Bella Vista Group, the owner of an office and warehouse facility at Transit Road and Genesee Street, came seeking tax breaks from the Lancaster Industrial Development Agency Tuesday. But with IDAs under increased scrutiny for giving aid to projects of questionable value to economic development, those requests were tabled for further review.
First Niagara Financial Group board member and co-director Carl A. Florio has stepped down from the bank board's audit committee. Florio's decision to leave came after Institutional Shareholder Services and Glass, Lewis & Co recommended shareholders vote against re-electing him, questioning his independence from management. The two independent proxy advisory firms did not consider Florio an "independent director" by their standards.
A 127-year-old Jamestown company is nearing its final end. Crawford Furniture, which filed for Chapter 11 bankruptcy protection in August and ran going-out-of-business sales at its retail locations, has been granted approval by the bankruptcy court to liquidate its remaining assets, including its property and equipment. The hardwood furniture maker's assets will be up for sale through April 19. Whatever is left will go to auction April 21.
Who is getting hired, promoted and honored?
Here's a closer look at Ford's virtual reality technology:
taggedAuto Industry | Economic Development | Manufacturing | Web/Tech