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posticon Senate Delegation Calls For Small Business Fund and Takeout Container Ban Halt

Business | Friday, March 27, 2020 | By Office of NYS Senator Pam Helming Print
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The Western New York Senate Delegation today called for the establishment of a $890 million Small Business Emergency Assistance Fund for the State of New York. Additionally, the delegation called for the tabeling of any budget proposals to ban the use of serviceware, including takeout containers. This proposed ban is especially concerning due to the COVID-19 pandemic and the reliance many restaurants have on sterile, single use polystyrene containers to provide takeout food.

"Now, more than ever we have to come together as a state to protect public health and safeguard the future of jobs in upstate New York.Together we must send a clear message to the job creators in our communities that we will work with them to weather this storm. That starts with rededicating state resources to provide 0% interest loans. Helping our local small businesses meet their obligations means employees will continue to receive paychecks and any other benefits they are entitled to receive. Additionally, although discussions regarding the State Budget are ongoing, it appears that a ban on polystyrene takeout containers is being considered. Nearly 800 local jobs in Canandaigua depend on the production of these products and it is the most hygienic way for local restaurants to provide takeout service and keep their doors open during this pandemic. Banning these takeout containers is wrong for a number of reasons, not the least of which is that it would jeopardize the health of New York's citizens," said Senator Pam Helming.

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posticon Wall Street Bonuses Up In 2019, Facing Fall In 2020

Business | Friday, March 27, 2020 | By NYS Comptroller's Office Print
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The average bonus paid to employees in New York City's securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability, according to annual estimates released today by New York State Comptroller Thomas P. DiNapoli.

"The securities industry had a good year in 2019, but the serious damage that COVID-19 is inflicting on financial markets and the global economy will sharply reduce industry profits this year," DiNapoli said. "The securities industry is integral to New York state's and New York City's economies, as a source of tax revenue and job creator in other industries. The state and the city need to prepare for the severe budgetary implications of the coronavirus crisis."

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