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All this news of places closing reminded me that I drove by El Canelo and saw that they closed too. They did pretty good business on Erie, but after they moved to Bridge St, it always seemed dead. It could have been the new location though.
There are a couple locations where restaurants go to die. In Fairmount there is a spot next to Carol's Polar Parlor where everything that goes in there dies no matter how good business is. There has to be an owner issue because it has been at least 4 different things since I have been here.
The slot they moved to on Bridge hasn't done well with anything that's tried there since Carmella's closed... maybe 10 years ago or more. It's spent a lot of that time vacant, but everything that's tried has failed pretty quickly.
Carmella's was my favorite place to go, as a kid. There and Galveston's. lol
I was never sure that Canelo was open, even when it first did. The landscaping made it look abandoned and it always looked dark inside (tinted windows?) so I never stopped.
I don't consider that good news, esp. by a Florida investment firm. I can assure you they will liquidate the company or move operations out of CNY over time.
I still don't like the fact that Sensis as bought out by SAAB, though a good fit from what I hear.
I don't consider that good news, esp. by a Florida investment firm. I can assure you they will liquidate the company or move operations out of CNY over time.
I still don't like the fact that Sensis as bought out by SAAB, though a good fit from what I hear.
I was thinking the same thing, but I think that if they are thinking of moving, it won't go down without a fight. Hopefully, if they do buy Anaren, it will go the way of SAAB/Sensis.
I don't consider that good news, esp. by a Florida investment firm. I can assure you they will liquidate the company or move operations out of CNY over time.
I still don't like the fact that Sensis as bought out by SAAB, though a good fit from what I hear.
Unfortunately, I think your prediction will happen if a private equity firm purchases Anaren. Vintage Capital Management of Orlando bought a Rochester-based company that is a competitor to Anaren. The company's porfolio includes several companies that are in the same industry niche as Anaren - space technology and defense. I can definitely see a scenario where this PE firm purchases Anaren, guts their executive staff and brain trust of engineers/R&D staff and consolidates operations in Pittsford and in the south. Having two separate operations within 90 miles of each other and paying oppressive New York payroll, property, workers compensation, and utility taxes will not be considered viable in the eyes of PE firms whose main objective is to cut, cut, and cut until they can generate a large enough return on their investments and liquidate what remains of the company or sell it again. I assume they are also attracted to Anaren's intellectual property as well.
If this purchase goes through (as it appears it will eventually), there will only be one pubicly traded company based in Syracuse that is not a financial institution. Based on its population, Syracuse has one of the smallest concentrations of public companies
Last edited by RollsRoyce; 04-19-2013 at 10:33 AM..
At least this time the recipients were local and for once, only one Ithaca-based company was given a grant. In past years, most of the commercialization grants ended up going to companies in places like Delmar, Cheektowaga, Fairport, Vestal and Webster with less than one-half or one-third going to firms in Onondaga, Madison, Oswego, Cayuga, and Cortland counties. I have noticed that nearly every year Cicero-based Air Innovations receives a grant yet their employment never increases. They must have some friends in high places.
These grants wil allegedly "create or retain" 100 jobs. This term has now become almost a cliche used by politicians since the 2008 recession. For all we know, this grant may create 1 new job and retain 99, but we'll never know the distribution of new and retained jobs.
Unfortunately, I think your prediction will happen if a private equity firm purchases Anaren. Vintage Capital Management of Orlando bought a Rochester-based company that is a competitor to Anaren. The company's porfolio includes several companies that are in the same industry niche as Anaren - space technology and defense. I can definitely see a scenario where this PE firm purchases Anaren, guts their executive staff and brain trust of engineers/R&D staff and consolidates operations in Pittsford and in the south. Having two separate operations within 90 miles of each other and paying oppressive New York payroll, property, workers compensation, and utility taxes will not be considered viable in the eyes of PE firms whose main objective is to cut, cut, and cut until they can generate a large enough return on their investments and liquidate what remains of the company or sell it again. I assume they are also attracted to Anaren's intellectual property as well.
If this purchase goes through (as it appears it will eventually), there will only be one pubicly traded company based in Syracuse that is not a financial institution. Based on its population, Syracuse has one of the smallest concentrations of public companies
Excellent observation and information, it is sad to read though. We always boast of growing small to mid-sized (Syracuse-based) companies that would lead the "new" local economy, i.e. Sensis, Anaren, Welch-Allyn, etc., but they are being bought up by out of state (foreign in the case of Sensis) investors. It makes me question the progress that Syracuse is making, an economy based solely on meds and eds can only go so far! To be fair, you make a good point about NYS's "oppressive" payroll, property, workers compensation and utility costs that is victimizing Syracuse's efforts and is out of its control.
On the other hand, I hold out hope when I read articles like the one originally posted by ckhthankgod that list locally based companies:
"Adult World" made its world premiere at the Tribeca Film Festival in New York City, and the early buzz is overwhelmingly positive. Shot in Syracuse last winter, "Adult World" centers on Amy (Emma Roberts), a recent college graduate who dreams of being a writer. Mounting debt forces her to take a job at an adult bookstore, and she seeks advice from punk poet Rat Billings (John Cusack).
I thought the clips were good!
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