From Business Today:
With natural gas prices dropping near a 10-year low, National Fuel Gas Co. has decided to pull back on plans to drill in the Marcellus Shale region of Pennsylvania until prices come back up. It's the second time it has scaled back in two months. Its natural gas production is still expected to increase significantly during the next fiscal year, and scaling back on this drilling should only have a "modest" effect on production, the Amherst-based company said. Natural gas prices are down 54 percent since June, to $2.25 per 1,000 cubic feet.
The Erie County Industrial Development Agency has put a moratorium on considering hotel renovation projects for tax breaks, but that didn't keep it from approving $275,000 in breaks for a project that fell outside the moratorium. The ECIDA Monday approved sales tax breaks on a $5.5 million renovation project at Cheektowaga's Millennium Hotel. Because the hotel qualified for the breaks under the agency's current guidelines, it decided to approve the breaks rather than risk a lawsuit from the hotel.
You'll soon notice a difference in Canadian currency the next time you cross the border. The money has undergone a redesign to make it more durable and secure and to prevent counterfeiting and fraud. $100 and $50 bills have already gone into circulation, $20 bills will come out later this year, and $10 and $5 bills are due by the end of 2013.
The ECIDA board was taken to task Monday for approving the controversial tax breaks on the Millennium Hotel. Just after the approval, members of the Occupy Buffalo activist group began vocally protesting the board's actions. The board's new chairman, retired Rep. John J. LaFalce, yelled at the protesters and told them they would no longer be able to attend such meetings. Public comment isn't allowed during the ECIDA's monthly board meetings--only during public hearings.
An advertising agency with offices in Buffalo has been recognized by its industry's premier publication. Advertising Age magazine ranked Eric Mower and Associates the 5th best place to work in its 2012 rankings. Winners were chosen through a rigorous process that included surveying employers and employees.
Who is getting hired, promoted and honored?
It's a great day for the Moody Blues: