“Makau, Gary and Sam are consummate professionals whose years of expertise as leaders in the academia, business and public service sectors will help us create jobs and grow the local economy,” said Empire State Development President, CEO & Commissioner Kenneth Adams. “I look forward to putting their extensive credentials to work for the people of Western New York as key members of our economic development team.” Makau Mutua said, “The work that ECHDC has done is changing perceptions about Buffalo, and I look forward to building on the progress that has already been achieved. I hope to collaborate with the board and staff to develop a waterfront that will offer something for all of the citizens of our community. I thank Governor Cuomo for this opportunity.” Gary L. Ginsberg said, “I am grateful for this appointment and honored that Governor Cuomo has asked me to be part of this team. As a native son, I have long believed that Buffalo’s future is tied to its waterfront, and I am excited to use my private sector experience in marketing and communications to assist ECHDC with their efforts to transform Western New York’s greatest asset.” Sam Hoyt said, “ECHDC has reached a tipping point with seven active construction projects, unprecedented visitors to Canalside and public involvement at every step. In recent years we have laid the groundwork that has made Canalside a destination for the public. Now the private sector is expressing genuine interest in investing on the waterfront. ECHDC has pursued a course that is consistent with Governor Cuomo’s public/private model of economic development and job creation.” Mr. Mutua is a SUNY Distinguished Professor and the Floyd H. & Hilda L. Hurst Faculty Scholar. In addition to his duties as Dean, he teaches international human rights, international business transactions and international law and has conducted numerous human rights, diplomatic and rule of law missions to countries in Africa, Latin America and Europe. He serves as the Chairman of the Kenya Human Rights Commission and was a delegate to the Kenyan National Constitutional Conference. A frequent commentator on politics, human rights, law and current affairs in the print and electronic media, he was educated at the University of Nairobi, the University of Dar-es-Salaam and at Harvard Law School, where he obtained a Doctorate of Juridical Science in 1987. He has authored human rights reports for the United Nations and is a member of the Council on Foreign Relations. Gary L. Ginsberg is the Executive Vice President of Corporate Marketing and Communications at Time Warner Inc. Before joining Time Warner, Mr. Ginsberg was the Executive Vice President of Global Marketing and Corporate Affairs at News Corporation where he coordinated and executed the Company’s global marketing and investor relations programs, as well as its corporate affairs, strategic communications and philanthropic efforts. Previously, he was a senior editor and counsel at George, the monthly political magazine, and a former Assistant Counsel to President Clinton. He is a graduate of the Columbia University School of Law and received his undergraduate degree magna cum laude from Brown University. Mr. Ginsberg is a member of the Board of Directors of the John F. Kennedy Library Foundation; the Newseum, the national news museum; New Visions for Public Schools; and New York Cares. He is also a member of the Council on Foreign Relations. Sam Hoyt oversees efforts to recruit new business, as well as support existing business, for the western region of New York State. Prior to joining Empire State Development, Mr. Hoyt served for almost 20 years as the Assembly representative for the 144th Assembly District located in Western New York. Mr. Hoyt’s career in public service is marked by a commitment to community-centric change centering on four guiding goals: making state and local governments more efficient and accountable to taxpayers, revitalizing neighborhoods, increasing economic opportunity and developing waterfront. He currently serves as Chair of the Buffalo and Fort Erie Peace Bridge Authority. “During the past several months, ECHDC has reached critical mass in terms of public engagement and real construction,” said ECHDC President Thomas P. Dee. “Our new board members bring a wealth of knowledge and experience that will serve our community well. I look forward to working with them on the revitalization of Western New York’s waterfront.” Erie Canal Harbor Development Corporation is a subsidiary agency of Empire State Development Corporation whose vision is to revitalize Western New York’s waterfront and restore economic growth to Buffalo based on the region’s legacy of pride, urban significance and natural beauty.]]>
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Financial markets are still reeling from this week's back-and-forth with the United States' key trade partners, as President Donald Trump announced and then almost immediately withdrew crippling new tariffs.
The Dow Jones Industrial Average closed Tuesday down another 478 points, down 1.1%. Trading on the S&P 500 closed after a decline of 0.7%, and the Nasdaq Composite was down 0.2%, for the worst day of trading since September according to Yahoo Finance. The stock market has been sliding amid fears that consumer spending would contract in response to tariffs Trump announced would be going into effect on Canada and Mexico in particular. While those tariffs have been reversed for now, Trump has indicated that 50% tariffs on imported steel and aluminum from Canada will still go into effect early Wednesday morning at midnight.
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Trump has attempted to boost investor confidence by walking back his previous comments to Fox Business' Maria Bartiromo in which he didn't rule out a recession happening as soon as this year. But Politico reported Tuesday that one of his top Cabinet secretaries may be "forced to take the fall," with "few friends in the administration" left to defend him.
According to the outlet, Commerce Secretary Howard Lutnick — who co-chaired Trump's presidential transition team along with former World Wrestling Entertainment executive Linda McMahon (now Trump's secretary of education) — could be out of a job if the fallout over Trump's tariffs continues to roil markets. One unnamed source "close to the administration" told Politico that Lutnick was lately "trying to be a mini-Trump."
“I don’t think he got the memo that only Trump gets to be Trump,” the source said. “It just reinforces that he doesn’t really know how to do the job.”
Politico additionally reported that administration officials are "growing increasingly frustrated" with the commerce secretary, complaining that he often gets "out in front" of Trump and has "contradicted his messaging." They add that he has "a lack of understanding of even the basics about how tariffs and the economy work."
Last week, Lutnick made headlines after telling CNBC that "prices are going to rise" as a result of tariffs, but that companies can avoid tariffs by making their products in the United States. When hosts reminded him that companies offshore production because labor costs are lower, Lutnick proclaimed that manufacturing jobs would be done by "robots."
Click here to read Politico's report in its entirety.