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Central New York Business Journal The Greater Binghamton Business Journal The Mohawk Valley Business Journal
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Adam Rombel is editor-in-chief of The Central New York Business Journal. He has been a business reporter, writer, and editor for 12 years, including several years in New York City covering global business news. Contact him at arombel@cnybj.com
To say the job market has been slow to recover is a vast understatement. Even though the economy grew for the entire second half of last year — 2.2 percent in the third quarter and 5.9 percent in the fourth quarter — employers have continued to cut jobs and have been reluctant to hire.
The U.S. Commerce Department reported Jan. 29 that the nation’s real gross domestic product (GDP) soared at an annual rate of 5.7 percent in the fourth quarter of 2009. That’s the fastest growth rate since 2003.
The nation's GDP jumped 5.7 percent in the fourth quarter of 2009, the U.S. government reported this morning. Great news, right? The number is not as strong as it seems.
Evidence continues to mount that a jobless economic recovery is under way and will continue for some time. Uncertainties about the longevity of the recovery and government-policy changes are scaring many business owners from adding to their payrolls.
Company owns Our Press, Inc. operation in Chenango Bridge The Scotsman Press, Inc. — a Syracuse–based commercial printing company with one plant in Broome County — has been part of Loren Colburn’s life since 1977. But beginning this month, instead of operating the business, he’ll be advocating for it.
Risk: “The possibility of suffering harm or loss.” (American Heritage Dictionary, 3rd edition)
In his opinion piece in the March 5 issue, The Central New York Business Journal’s editor-in-chief, Adam Rombel, wrote about uncertainty in the business community. The result of this uncertainty is employers’ continuing reluctance to take risks.
On Feb. 19, the Federal Reserve Board raised the discount rate from one-half to three-quarters of 1 percent. This change of one-quarter of a percentage point in the little-used primary credit window resulted in an immediate leap of the U.S. dollar to nine-month highs. Overnight, the value of the dollar rose 0.82 percent and 0.31 percent against the Euro and the Yen, respectively.
Top Ranks Lists The 2010 Book of Lists electronic edition may be downloaded in Excel format. These 62 lists include key business information (when available) such as number of employees, revenue, products/services offered, and top executives for each company.
ARCHITECTS Jeffery T. Smith, partner and architect at Chianis & Anderson Architects, PLLC, has been honored by the American Institute of Architects’ National Board of Directors as a Citizen Architect for his commitment to his community and to the architecture profession. Among his current positions, Smith serves on the Village of Owego Historic Preservation Commission and the City of Binghamton Commission on Architecture and Urban Design.
Adam Rombel is editor-in-chief of The Central New York Business Journal. He has been a business reporter, writer, and editor for 12 years, including several years in New York City covering global business news. Contact him at arombel@cnybj.com