1049 Search Results for The Buffalo News

Mar 2

2023

The latest Buffalo News woes

Published by

Lee Enterprises, the parent company of The Buffalo News, has filed its overdue annual  financial report with the Securities and Exchange Commission. Its failure to meet a filing deadline, due to what Lee said was its failure to “maintain effective internal control over financial reporting,” prompted a threat in December from the Nasdaq Stock Market to delist the company. That would mean no more stock sales for the publicly traded company.  So it’s good news that Lee has finally complied. There’s not a lot of good news in its 10-K report, however, certainly not enough to allay fears about what’s[...]

Posted 1 year ago

Jun 23

2021

More bad news on Buffalo Billion project

Published by

Updated at 2:15 p.m. At least 84, and perhaps as many as 175 employees assigned to downtown office space paid for with $55 million in Buffalo Billion funds have been told they’re losing their jobs. The funding was used to recruit IBM to establish a high-tech hub at Key Center that would employ 500 software engineers and other highly paid workers. IBM has not followed through on that pledge, employing a small but undetermined number of workers  at the site.  Instead, a portion of the space has been sublet to two call center operations. As previously reported by Investigative Post,[...]

Posted 3 years ago

Mar 31

2020

Buffalo News downsizing comes quick

Published by

Well, that didn’t take long. Lee Enterprises took ownership of The Buffalo News just a couple of weeks ago and wham — the paper on Tuesday announced furloughs and layoffs. To be fair, the loss of advertising due to fallout from the COVID-19 pandemic was no doubt the driving force behind the decision, which I’m told was made at corporate headquarters in Davenport, Iowa, rather than here in Buffalo. But let’s face it, The News was going to have to act sooner rather than later due to the loss of advertising revenue, which is just one of many challenges the[...]

Posted 4 years ago

Jan 30

2020

Buffalo News: Is Darth Vader lurking?

Published by

An investment firm with a reputation of buying and gutting newspapers has just bought a stake in Lee Enterprises, which is purchasing The Buffalo News in a deal scheduled to close in March. What’s more, the firm, MNG Enterprises, is reportedly trying to engineer discussions about a mega-merger of newspaper chains, including Lee, Tribune Publishing, and possibly the McClatchy Co. In my column Wednesday, I said Lee’s purchase of The News was bad news that could have been worse. If MNG Enterprises, doing business as Digital First Media and MediaNews Group, gets its hands on The News through Lee, well,[...]

Posted 4 years ago

May 3

2024

Buffalo’s precarious budget

Published by

Buffalo Mayor Byron Brown struck a pragmatic tone Wednesday as he introduced his budget proposal for the coming year, which is balanced with a 9 percent hike in property taxes and nearly $15 million in reserve funds. The mayor’s $618 million spending proposal, however, suffers from some of the same unrealistic revenue projections that led to shortfalls in the past, before the city’s treasury was bursting with federal pandemic aid to conceal the difference. Consider just three revenue sources the Brown administration has frequently overestimated in past budget cycles: parking meters, parking tickets, and traffic fines. Parking meters are forecast[...]

Posted 4 hours ago