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Administration organization and land purchase take forefront at Troy finance meeting

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Administration organization and land purchase take forefront at Troy finance meeting

TROY, N.Y. — The council’s got a rhythm, Troy City Council President Sue Steele said after the Finance Committee meeting and special meeting Thursday night.

With ordinances and resolutions ranging from approving bonds for a new fire engine to confirming mayoral appointments like Deputy Mayor Seamus Donnelly, a couple of issues held the committee’s–which consists of all the council members and the council president–attention, the reorganization of some of the administration’s departments and heads and; the sale of surplus property at 744 Pawling Ave.

Several people were confirmed at the special meeting with one drawing a few questions and concerns; Russ Reeves, the city engineer, taking on an additional role as superintendent of Public Utilities. Mayor Carmella Mantello said that the finite structure of the departments was inefficient and that a system where the departments more closely interact would be a better system overall.

“I promised the people of Troy that we were going to look at departments differently,” the mayor said. “People are going to just see more proactiveness and really see our departments be one big unit and work block by block.”

After being asked, Reeves said he felt comfortable taking on both positions and had previously overlapped with public utilities. His position at Public Utilities will be part-time which Steele raised concern about, calling it an “unusual arrangement.”

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His nomination passed unanimously with one recusal from Council member Aaron Vera, a Democrat, due to their previous work relationship.

“It’s nothing against Russ Reeves per se, but it’s the mayor’s plan to take a piece of that salary and give it to him,” Steele said following the meeting. “The water treatment plant deserves a full-time person.”

Some of the moves make department and union lines unclear, she said, for example, the Troy Union President of the Civil Service Employees Association now also being the director of infrastructure. But Mantello said she has full trust in Reeves’ ability to do both positions and work with the Code Department.

The other changes also make more sense rather than less, she said, and they are trying to think more creatively about all the positions in the city.

“They’re so used to here’s a position, fill it, and then get that department to go do that job,” Mantello said. “No. Departments are going to help each other; they’re going to work together.”

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The property sale also raised a few concerns on the council and in the public forum for a couple of reasons. A community member raised concerns about the new owner, David Mulinio, who has had past allegations that he did not fill out proper permits for other properties he has owned.

Council members raised questions and concerns about the use of the property. Currently, it is zoned and was used in the past for commercial uses, however, officials noted that Mulinio has expressed intentions to build it as apartments with storage facilities on the bottom floor.

The ability to do that lies on further separate approval from the council but representatives for Mulinio at the meeting said he and the other parties purchasing the properties are willing to take that risk without the guarantee that the properties will be rezoned or that the project will be approved.

Republican Majority Leader Tom Casey said he understands the concerns but will verify everything Mulinio is planning to do and thoroughly examine all the documentation he has dropped off.

“I’m gonna make sure, I’m sure the administration will too, that (with) the new owner that we keep an eye on everything that’s done there and make sure it’s filed to the letter of the law, he said. “We’re gonna make sure everything is done properly.”

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Russ Reeves and Troy Mayor Carmella Mantello speak at the Eddy’s Lane Pump Station a few weeks ago. (Photo provided/File)
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Promising UK Penny Stocks To Watch In January 2026

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Promising UK Penny Stocks To Watch In January 2026
The UK market has recently faced challenges, with the FTSE 100 index experiencing declines due to weak trade data from China, highlighting global economic interdependencies. Despite these broader market pressures, investors may find intriguing opportunities in penny stocks—smaller or newer companies that can offer a mix of affordability and growth potential. While the term ‘penny stocks’ might seem outdated, their potential remains significant for those seeking financial strength and…
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Why Chime Financial Stock Was Music to Investor Ears in December | The Motley Fool

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Why Chime Financial Stock Was Music to Investor Ears in December | The Motley Fool

The company appears to be effectively serving its often-overlooked customer base.

The holiday month brought fintech Chime Financial (CHYM 3.13%) one of the best gifts a stock can receive — a substantial bump higher in price. Across December, Chime’s shares rose by more than 19%, lifted by a set of factors that included a recommendation upgrade from a prominent bank and a positive research note by an analyst who’s now tracking the company.

Good as gold

The bullish tone was set by that upgrade, which was made before market open on Dec. 1 by Goldman Sachs pundit Will Nance. According to his new evaluation, Chime stock is now a buy, up from Nance’s previous tag of neutral. The new price target is $27 per share.

Image source: Getty Images.

According to reports, the analyst’s move is based on the company’s new Chime Card, an innovative credit product that represents an evolution of the secured credit card (i.e., plastic that must be backed by a user’s actual funds).

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In Nance’s estimation, as a next-generation credit product, the Chime Card should earn more “take” (i.e., fees derived from use) and thus higher revenue and profitability for the company than many anticipate. The prognosticator wrote that “attach” rates — i.e., Chime customer uptake — could also be notably above current expectations.

On Dec. 11, a new Chime bull emerged. This is B. Riley analyst Hal Goetsch, who initiated coverage of the company’s stock with a buy recommendation. This was accompanied by a price target of $35 per share, which is well higher than even Nance’s very optimistic assessment.

Goetsch waxed bullish about Chime’s high growth potential, according to reports. He opined that the company is doing well servicing its target segment of customers traditionally shunned by established banks due to poor credit histories, among other perceived flaws. It has also cleverly partnered with lenders and other financial services providers to offer attractive products such as the Chime Card.

Chime Financial Stock Quote

Today’s Change

(-3.13%) $-0.87

Current Price

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$26.95

Executive shifts

Finally, Chime promoted no less than three of its executives to new positions. It announced in the middle of the month that former chief operating officer Mark Troughton had been named president, and Janelle Sallenave replaced him as chief operating officer (from chief experience officer). Vineet Mehra, meanwhile, became chief growth officer; previously, he was chief marketing officer.

All three appointments, announced in the middle of the month, were effective immediately.

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As the year came to a close, it was apparent that the company had executives who were eager to keep contributing to its success. That, combined with those bullish analyst notes and the somewhat under-the-radar success story that the Chime Card appears to be, makes this fintech’s stock well worth watching. This is one of the more innovative young businesses in the financial sector at present.

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Mis-Sold Car Finance Explained: What UK Drivers Should Know

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Mis-Sold Car Finance Explained: What UK Drivers Should Know
Car finance is now one of the most popular ways in which drivers purchase their vehicles in the UK. RICHMOND PARK, BOURNEMOUTH / ACCESS Newswire / January 5, 2026 / In particular, Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements …
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