No. 63: USB Jeep fix, a greener Jeb Bush and Amazon counts down

SLOW NEWS DAY: Gov. Cuomo announced the completion of a $3.8M upgrade of the Holiday Inn in downtown Niagara Falls, funded with $1.1M of state and city eco-dev money. Want more for your tax dollar? The rehab includes the addition of a Tony Roma restaurant.

The guv has bigger news today: He’ll jointly announce a “major” infrastructure deal in Manhattan with Vice President Joe Biden.

SPEAKING OF BIG NEWS: In what the media billed as a major breakthrough, Eli Lilly announced that its drug solanezumab reduced the brain’s decline in patients with mild Alzheimer’s. Not widely reported: The difference is so slight it would not really be noticed by patient or family.

Related: Biogen’s Alzheimer’s drug failed a key clinical trial.

THIS IS HOW IT’S DONE, KIDS: You want ka-ching with that? Shake Shack has alerted the SEC that investors, including founder Danny Meyer, intend to sell 4M shares in a secondary offering, or roughly $200M worth, as their post-IPO lockup expires.

ATTENTION TOMO RAZMILOVIC: The SEC is probing whether alcoholic beverage maker Diageo (Guinness, Johnnie Walker, Smirnoff, mmm) inflated results by shipping excess inventory to its North American distributors.

BIRD’S EYE VIEW: Canary, the Manhattan-based home security platform, will launch $4.99 monthly premium service next month that will allow you to monitor your home in real time from your smartphone or Apple Watch. You can still get limited service and store incriminating footage of the babysitter in the cloud for free.

FINGER TECH: NYC-based Ringly, which offers email and call alerts to women who like to be fashionable and keep their smartphones in their purse, may have a tough timein an Apple Watch world.

VISIT US: Between newsletters, check out breaking news at InnovateLI.com. And don’t forget to like us on Facebook.

WHAT WE SHOULD BE DOING: Buffalo developer Gerry Buchheit is redeveloping his city’s long-vacant – but waterfront – Freezer Queen industrial complex into apartments and cool ground-floor retail. Helpful: He picked it up for $3M in a foreclosure sale.

CLICKED IN: Top click-throughs from last week’s newsletters: Sweighhunky LA startup to SBUSikorsky mergerSBU’s innovation club and inventress Caryn Horsley.

SAME OLD PSALM: Researchers have managed to digitally unroll and read a 1,500-year-old Hebrew scroll that was so badly burned no one has dared touch it since it was discovered 40 years ago. The bad news: It contained the extremely common Book of Leviticus. The good news: word of the technology has already led to a request to recover a heavily scorched – but obviously prized – 20th century novel. (Another Harper Lee book?)

THIS STEM STUFF MIGHT BE WORKING: The U.S. team won an international math competition for the first time in 21 years.

AMERICA’S IMPORT: Chrysler is handling the very public hack of one of its Jeep Cherokees last week by sending owners a USB stick with a software update. Less well reported: The problem also affects Dodge Vipers, Challengers and Chargers, Ram trucks, Durango SUVs, plus Chrysler 200 and 300 muscle cars. That’s 1.4M thumb drives.

Wait: Wasn’t that how we took down Iran’s nuclear program?

Before the current deal, I mean.

And, man, the President’s looking haggard.

SIMILARLY HARROWING: Newsday takes a look inside Calverton-based food-tech firm Pride Enjoy’sKickstarter campaign.

Related: Innovate’s own look at the most popular LI crowdfunded firms. (Hint: Think beer.)

ABOUT OUR SPONSOR: Farrell Fritz, a full-service law firm with 15 practice groups, represents numerous emerging companies and venture capital funds. The firm advises startups on entity formation, founder and shareholder agreements, funding, executive compensation and benefits, licensing and technology transfer, mergers and acquisitions and other strategic transactions. The firm’s blog,New York Venture Hub, discusses legal and business issues facing entrepreneurs and investors.

FEELING THE HEAT? Jeb Bush announced he would eliminate tax benefits for the fossil fuel industry – a key supporter of his family’s political fortunes – and add subsidies for wind and solar renewables. Nothing about Mexican rapists, though.

 

IN THE EVENT YOU NEED ONE: We can work with you to increase registration and awareness for your events. Want to partner with us on an event? We do that, too. Email us: events@innovateli.com

DON’T FORGET: The LIA delves into the SCOTUS-approved Affordable Care Act at a Wednesday breakfast panel moderated by Tom Suozzi. Seats via mcohen@longislandassociation.org

MORE INTERESTED IN SELLING STUFF TO CUBA? Can’t blame you. And the SBA has a call for that.

INTERNET OF DINGS: AT&T, which reported adding 2.1M subscribers in the latest quarter, said 1M of those were actually “connected cars.”

MISSED A ROUNDUP? Most are archived here

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THE INNOVATE DEBRIEF: Veteran venture capitalist Bob Brill weighs in on the state of the Long Island innovation economy and what he most looks for in a potential investment. (Spoiler alert: It starts with him actually understanding the technology.)

OUT THERE: Blue Origin, the space-tourism company created by Amazon founder Jeff Bezos, has begun taking reservations for its first launch. No word on when that will be or what the 11-minute ride to the edge of space will cost. Virgin’s is $250K, though. (Or, for $256K, you could get an Audi R8 GT. Similar Gs and you get to keep it. Just saying.)

S*M*A*S*H: Publicly destroying stuff is all the rage. Consider Sen. Lyndsey Graham taking a golf club to his cell phone. Rand Paul putting a chain saw to the tax code. Some people, however, make a living out of it.

SHODDYOCRACY: And 11 other popular slang expressions that have passed away since the 1800s.

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Compiled by John Kominicki. Thanks for reading.