Weather Alert

Nor'easter to Bring a Heavy to Major Snowfall Monday Night into Tuesday Night

A major Nor'easter is expected to develop south of New England Monday night, potentially getting stuck near Cape Cod into Tuesday before moving away Tuesday night.  This storm will bring heavy snow and gusty wind at times causing blowing and drifting snow, potential whiteout conditions at times leading to dangerous travel late Monday night through Tuesday.  Snow accumulations of 10" to 20" will be possible, especially in the Hudson valley and across western New England with amounts up to 10" in the Mohawk valley and western Catskills.   


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Channel 6 News - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

NYS invests $1 billion of retirement fund in own backyard

ALBANY -- New York State is getting a 20% return on investments made in their own back yard, that according to a report by New York State Comptroller Thomas DiNapoli.

New York State has set aside $1.08 billion of its retirement system to invest in companies in New York. Already $684 million has been invested in 252 companies. A profit of $120 million has been made after the state exited their investments with 71 companies, the comptroller`s report shows.

New York has assets all over the world with an estimated retirement system valued at $160 billion.

However, DiNapoli says investing in New York State helps create jobs and is providing an average return rate of 20%.

Investments with state companies spreads over 10 regions with the highest volume in New York City where 167 companies have received $278 million.

In the Capital Region 13 companies received $75 million.

Mark Cattini, CEO of Autotask in East Greenbush, said Tuesday the state`s investment has helped his company to expand while creating and retaining jobs.

"We have used the money for a whole series of things, hiring people, investigating in the capital equipment, hiring internationally," Cattini said. "Without it we would not have had a business, we would have had to go somewhere else."

The state is still looking to invest nearly $400 million to companies in New York, DiNapoli said.
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