When First Niagara leaves

[leftWNYbecauseofBS]

When FNC leaves Buffalo what do you expect to be the fallout?

They have about 750 HQ positions and give millions to the region. This one is going to sting.



Also, just like they spent money on other banks like a sailor on leave...they also threw money around trying to pull employees away from M&T and in the process burning many bridges. Those folks are really going to be hurting.

[grump]

When FNC leaves Buffalo what do you expect to be the fallout?

They have about 750 HQ positions and give millions to the region. This one is going to sting.



Also, just like they spent money on other banks like a sailor on leave...they also threw money around trying to pull employees away from M&T and in the process burning many bridges. Those folks are really going to be hurting.

No fallout for you. You "leftWNYbecauseofBS". Ha ha hee hee ho ho.

[leftWNYbecauseofBS]

No fallout for you. You "leftWNYbecauseofBS". Ha ha hee hee ho ho.

HAHA.

Ding. Meals on Wheels.

[grump]

HAHA.

Ding. Meals on Wheels.

As usual your responses are nonsensical. If it's meant to insult me somehow I find that almost comical. I will say that Meals on Wheels has helped keep an elderly neighbor indepenedent and living on her own in my neighborhood for a couple of years. I actually contribute to support their efforts. But how would you know. You "leftWNYbecauseofBS". Ha ha hee hee ho ho.

[leftWNYbecauseofBS]

As usual your responses are nonsensical. If it's meant to insult me somehow I find that almost comical. I will say that Meals on Wheels has helped keep an elderly neighbor indepenedent and living on her own in my neighborhood for a couple of years. I actually contribute to support their efforts. But how would you know. You "leftWNYbecauseofBS". Ha ha hee hee ho ho.

This should keep you occupied...

[Save Us]

This is exactly what I had discussed in an earlier thread. Buffalo's path to lack of diversification , it follows the trend manufacturing>banking>medical....Now soon we'll just have medical, and just like a 401K, you don't want all your eggs in one basket.

[WNYresident]

No fallout for you. You "leftWNYbecauseofBS". Ha ha hee hee ho ho.

Lefty makes a valid point.

I'm pretty sure First Niagara isn't a subsidized business and money does flow from the company.

Grump,

Even is Lefty isn't here in Buffalo he makes a valid point.

750 jobs that don't' have to be subsidized are far better than a 750 that are subsidized.

[leftWNYbecauseofBS]

I'm pretty sure First Niagara isn't a subsidized business and money does flow from the company.

FNC does a lot of good for the region. They give a lot of money and pay good to great wages for the HQ positions. All of that is going to be gone in a short period of time.

750 jobs that don't' have to be subsidized are far better than a 750 that are subsidized.

He is from the old block of WNY thinking. That being, they know stuff is wrong but only allow for people are are swimming in the same pile of sh*t to complain. This is mostly due to the fact that it stings a bit when an outsider says...'hey, do you realize you're swimming in sh*t' and the person they are speaking to is either too lazy or stupid to understand it and stop.

[WNYresident]

One thing I thought was odd about Erie County is the political parties like to start up "job training centers". Usually employing the party supporters.

[grump]

Lefty makes a valid point.

I'm pretty sure First Niagara isn't a subsidized business and money does flow from the company.

Grump,

Even is Lefty isn't here in Buffalo he makes a valid point.

750 jobs that don't' have to be subsidized are far better than a 750 that are subsidized.

All I said was that the fallout, whatever it might be, won't affect "leftWNYbecauseofBS" because he "leftWNYbecauseofBS". Ha ha hee hee ho ho.

[sharky]

I hope they don't leave. If they do I hope whoever buys their customers keeps the same type of accounts. I have free checking and my atm fees are covered if I use other banks' atms
When hsbc sold to first niagara I looked around and couldn't find a better situation than what FN was going to give me and I've been happy since then.

[WNYresident]

All I said was that the fallout, whatever it might be, won't affect "leftWNYbecauseofBS" because he "leftWNYbecauseofBS". Ha ha hee hee ho ho.

I'm pretty sure he has family here. I don't live in the City of Buffalo but I know that what happens in Buffalo effects Cheektowaga to a point.

[leftWNYbecauseofBS]

I'm pretty sure he has family here. I don't live in the City of Buffalo but I know that what happens in Buffalo effects Cheektowaga to a point.

No. I am just some guy with zero connection to WNY, either via family or financial, who posts on a WNY specific forum for the last 9 years.



The most interesting thing is people seem to have such issue with my name. It's almost as if I picked 'Stan' or 'FootballFan' or 'UserID.224' people would somehow have to accept the opinion. But Grump, like others, is an idiot....so I try not to spend time on thinking about such things.

[leftWNYbecauseofBS]

This is exactly what I had discussed in an earlier thread. Buffalo's path to lack of diversification , it follows the trend manufacturing>banking>medical....Now soon we'll just have medical, and just like a 401K, you don't want all your eggs in one basket.

Not sure I agree.

Buffalo has some diversity...it's just not deep.

One thing you have to consider is UB. Having THE flagship for SUNY in Buffalo is equal to having a large corporation but without the worry of them leaving. Buffalo has M&T to go along with FNC, as well as back offices for others. Again, not deep but diverse. There is medical and technology (Yahoo, IBM, etc) but it could be more. You also have to add SolarCity to the mix. They are just getting up and running and one would hope they would lay down some community ties similar to a bank. The good news is there are some cross pollination options with the existing tech community...if the right cards are played. Then you still have some transportation/distribution, that while smaller than before, still does exist due to the border.

Buffalo needs to go deeper not more diverse IMHO. Diversity spreads resources thin if you're taking about artificial props, were as depth can be assisted. For example, I'd like to see some expansion of battery technology and power distribution at some of the local Universities.

I think the Medical Campus is doing well...but Buffalo is getting in its own way by not helping it to grow. An example of this is allowing subsidized housing to hold back the expansion of that campus. That should have been a no brainer for the city to step in and help UB get that land without the ransom they were asking...but Buffalo is gonna Buffalo now and then.

[Mr. Lackawanna]

Not sure I agree.

Buffalo has some diversity...it's just not deep.
I think the Medical Campus is doing well...but Buffalo is getting in its own way by not helping it to grow. An example of this is allowing subsidized housing to hold back the expansion of that campus. That should have been a no brainer for the city to step in and help UB get that land without the ransom they were asking...but Buffalo is gonna Buffalo now and then.

One has to wonder where the money comes from to support the Medical Campus?
What percentage of their income is from the (City, State and Federal) government?
If most of their income is from the Government that is not good. That source can change due to political decisions.
If the Government handouts stop WOW!