”˜Wage theft”™ law enacted
Gov. David A. Paterson signed the Wage Theft Prevention Act, which addresses any failure by employers to pay minimum wages and overtime in accordance with existing law.
The bill enacts a wide-ranging series of measures to provide information to workers on the wages they are owed, and to heighten sanctions on those who fail to pay their workers the compensation to which they are entitled. Among other measures, the law raises criminal penalties on employers who fail to pay minimum wages, including up to a year in prison, and allows workers to recover double the wages they are owed as damages.
“At a time when so many New Yorkers are living paycheck to paycheck, it is vital that we protect the right to receive their hard-earned pay and afford them every protection against wage theft,” Paterson said in a prepared statement. “This legislation ”¦ will combat misconduct by unscrupulous employers.”
Dannon to pay $21 million over marketing
The Dannon Co. agreed to pay $21 million to settle an investigation by the Federal Trade Commission and state attorneys general over how the White Plains-based company marketed the nutritional benefits of its Activia yogurts and DanActive drinks.
Dannon stated under the agreement it will continue to market Activia as helping to regulate the digestive system and DanActive as helping to support the immune system.
New York reallocates recovery bonds
Gov. David A. Paterson signed an executive order to reallocate unused Recovery Zone Facility Bond authorizations, ensuring the state and municipalities take full advantage of the federal program.
Paterson”™s office said the order would facilitate the sale of some $250 million in unused bonds before they expired at the end of 2010.
Under the American Recovery and Reinvestment Act of 2009, the federal government created the RZFB program in order to support private business development projects and trade activity in designated economically distressed areas. New York received a $555 million allocation under the program, but more than half of that amount has gone unused.
ITT wins $1.3 billion contract ”“ again
NASA reaffirmed its contract award for ITT Corp. to run the agency”™s Space Communications Network Services, supporting NASA”™s space and ”˜near-Earth”™ networks.
The contract could be worth nearly $1.3 billion if NASA executes all options under the deal.
ITT will run networks that support communications with the International Space Station, the space shuttle, the Hubble Space Telescope and the Earth Observing System satellites.
The White Plains-based company was previously awarded the SCNS contract in October 2008 and again in April 2009 and July 2010, but commencement of the contract work was delayed due to a number of protests filed by the incumbent contractor.
Bunge harvests PIRMI
An affiliate of White Plains-based Bunge Ltd. completed the purchase of the rice-milling business of Pacific International Rice Mills LLC, a subsidiary of Anheuser-Busch Inc.
PIRMI”™s Woodland, Calif., facility employs 65 people and has an annual milling capacity of 363,000 metric tons.
Bunge did not immediately state financial terms of the deal. In a Securities and Exchange Commission filing, Bunge referenced a $50 million grain-elevator operation acquisition, without specifying the name of the business. In the third quarter, the company also acquired two oilseed processing facilities in Turkey for $24 million.
In the third quarter, Bunge reaped a $200,000 profit as revenue grew 3 percent to $11.7 million.
Weissman buys Binghamton hotel
Rye-based Alfred Weissman Real Estate Inc. acquired the Regency Hotel and Conference Center in Binghamton, according to multiple reports.
Two previous hotel owners have filed for bankruptcy protection the past few years, and last April the city of Binghamton took possession of the property and has operated it since.
Weissman Real Estate plans to renovate the facility.
PepsiCo names global nutrition CEO
Dr. Mehmood Khan has been named chief executive officer of the newly created global nutrition group at PepsiCo Inc. in Purchase. Khan, 52, will retain the position of senior vice president and chief scientific officer that he has held since joining PepsiCo in 2008.
In his new role, Khan will lead the global unit”™s work at building the company”™s nutritional products and services. He will report to PepsiCo Chairman and Chief Executive Officer Indra Nooyi.
Khan came to PepsiCo from Takeda Pharmaceuticals, where he was president of research and development and chief medical officer. He also served until 2003 at the Mayo Clinic, where he was director of the diabetes, endocrinology and nutrition clinical unit and a consultant physician in endocrinology.
Tourism office moves
The Westchester County Tourism & Film office in White Plains has moved to 148 Martine Ave.,
Suite 104. Office phone numbers, e-mail addresses and website have not changed.
– John Golden and Alexander Soule
