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Money

Solving the investment dilemma, job cuts at Lockheed Martin

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Getting investors to cough up cash for New York start-ups is a challenge.

How do you get investors to invest in New York companies?  It's a question we've asked before, and it's an issue that Binghamton-area assemblywoman Donna Lupardo is taking on, reports Jon Campbell at the Press & Sun-Bulletin:

Lupardo said the state has to respect the opinion of entrepreneurs. "A lot of time, I think we have complicated things with academics or politicians getting in the middle of things, but I'm appreciating that people who develop businesses are entrepreneurs with a unique skill set," Lupardo said. "We should have people doing economic development who know something about entrepreneurship.

Jobs

A Lockheed Martin plant in Endicott will have to cut about 60 jobs if a contract there isn't re-upped, reports My-Ly Nguyen at the Press & Sun-Bulletin:

Solutions unit -- a separate company business from MS2 -- at the Huron Campus because of the loss of a global combat support systems contract for the Air Force. The Workers Adjustment and Retraining Notification indicates 59 employees in the flight-testing business would be affected by the closing that is expected to occur July 7.

David Robinson at the Buffalo News reports that Blue Cross Blue Shield in Buffalo has locked out 400 employees, as part of negotiations over a new union contract:

The union said the negotiations had stalled over issues such as work schedules, layoff procedures and production standards. The union also said the company was seeking more flexibility to outsource and subcontract out work that currently is done by the bargaining unit. At the same time, the union said it was seeking greater job security for its membership, which has lost 160 jobs during the last four years. The union represents customer service representatives, claims processors, document reproduction and other clerical and support workers at Blue Cross Blue Shield.

Quickly

The Upstate Venture Association of New York is hosting a forum about social media, reports Thomas Adams at the Rochester Business Journal.  The discussion takes place May 10 at the Embassy Suites on Delaware Avenue in Buffalo.

The National Federal of Independent Businesses has a new New York chief, reports Eric Reinhardt at the Business Journal of Central New York.  Mike Durant is taking the reins, from Mike Elmendorf.

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