AMSTERDAM -- After nearly 10 months of negotiations, 1199 SEIU and Amsterdam Memorial Healthcare have signed a contract for 175 workers.
The 46-month agreement for health care workers at the hospital and adjacent Wilkinson Center will grant members up to a 35 percent wage increase and contribute almost 100 percent to individual health coverage. Full-time workers also get a $700 bonus.

One of the sticking points during negotiations was the union's request to move from a hospital's pension plan to a union-sponsored plan. The new contract calls for a year-long investigation into the possibility, with no guarantees. The contract also calls for a mentoring program.

The contract takes effect the first day of the new year.

-- Alan Wechsler

Mechanical Technology renews Colonie lease

COLONIE -- Mechanical Technology Inc. has renewed the lease for its headquarters and research and development offices at 431 New Karner Road in Colonie for another six months.

The lease, which is for 23,511 square feet of space, is being extended from June 30, 2006 to Dec. 31, 2006, according to Securities and Exchange Commission documents.

George Relan, the company's director of corporate relations, said the MTI renewed the lease for a short period because it is still looking for additional space, possibly at the same address, to expand.

-- Larry Rulison

RPI receives second gift of Albany Molecular stock

ALBANY -- Rensselaer Polytechnic Institute has received 85,000 shares of Albany Molecular Research Inc. stock from Thomas and Constance D'Ambra, the company announced Thursday. The personal gift is the second installment of a $3 million commitment made by the couple to endow a chair in synthetic organic chemistry.

The D'Ambras made a similar donation to Rensselaer a year ago.

Thomas D'Ambra is chairman, president and chief executive officer of AMRI and serves as a member of the Presidential Advisors group at Troy-based Rensselaer.

This week's contribution had a market value of nearly $1.1 million.

-- Eric Anderson

First Albany Cos. trims more of its stake in MTI

ALBANY -- First Albany Cos. Inc. has cut more of its stake in Mechanical Technology Inc. and now owns less than 5 percent of the fuel cell and precision instrument company.

In a filing made Thursday with the Securities and Exchange Commission, First Albany said it sold 50,000 shares of MTI stock at $2.79 and $2.78 per share. The company now owns 1,526,040 shares, or 4.9 percent of the total shares outstanding.

-- Larry Rulison