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Daily Archives: May 22, 2008

US home prices fall 3.1 percent in Q1, largest drop on record

U.S. home prices posted their sharpest first-quarter decline since the government began tracking the data 17 years ago, AP reported. The Office of Federal Housing Enterprise Oversight said Thursday home prices fell 3.1 percent quarter compared with a year ago ...

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Ford cuts North American production, profit goal

Ford Motor Co. is cutting North American production of pickups and SUVs as car buyers eyeing record gas prices turn toward more fuel-efficient models. The automaker said it no longer expects to return to profitability by 2009 and did not ...

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House subpoenas Karl Rove

The House Judiciary Committee on Thursday subpoenaed former White House top political adviser Karl Rove to testify about whether the White House improperly meddled with the Justice Department, AP reported. Accusations of politics influencing decisions at the department led to ...

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Gas tops $3.83 as early holiday travelers hit road

Americans getting an early start on the Memorial Day weekend found gasoline prices again sprinted to a new record high overnight, reaching a national average above $3.83 a gallon. Some analysts predict gas will break past $4 as early as ...

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IEA worried over oil supply

A leading global energy monitor said Thursday it is worried that demand for oil will outstrip world supply and is preparing a landmark revision of its closely watched forecasts, AP reported. The International Energy Agency is studying depletion rates at ...

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NaturalNano receives funding for project

NaturalNano Inc. Thursday said it has received the first cash payment from an undisclosed Fortune 200 multinational company for the development of advanced uses of its HNT extended release technology. The project involves extended release of fragrances for use in ...

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Citizens changes name to Frontier

Citizens Communication Co. shareholders Thursday approved a name change to Frontier Communications Corp. The company’s new name is slated to take effect July 31. “This change allows us to leverage the strength of our brand, and link our corporate identity ...

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Learning center has grand opening

EnCompass: Resources for Learning held its grand opening Thursday at its Water Street location downtown. The site was created with a $150,000 gift from the Chesonis Family Foundation, given out by Arunas Chesonis, chairman and CEO of Paetec Holding Corp. ...

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Sluman finishes day at par

Rochester native Jeff Sluman Thursday morning started his pursuit of the Senior PGA Championship with an even-par 70. After completing the round that put him near the top of the early leaderboard, Sluman said he was “a little tight” when ...

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Bills season sales best in 15 years

The Buffalo Bills have surpassed 50,000 season ticket sales, the highest total since 1993, officials announced Thursday. “This certainly highlights the passion and commitment this region has for the Buffalo Bills and NFL football,” said Russell Brandon, the team’s chief ...

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Bankruptcy filings decline in April

Rochester-area bankruptcy filings through April were down by 364 cases or 25 percent. In the first four months of this year 1,056 debtors in the Western District of New York Bankruptcy Court’s Rochester division filed bankruptcy petitions. At the same ...

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Foundation gives $2.5M to Eastman

The Davenport-Hatch Foundation Inc. has made a $2.5 million commitment to benefit the University of Rochester and the Rochester Philharmonic Orchestra for the renovation and expansion of Eastman Theatre. It is the largest gift in its 56-year history, foundation officials ...

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Nazareth unveils music business major

Nazareth College of Rochester announced Thursday a new music-business undergraduate program being offered for fall 2008. Students pursuing a bachelor of science degree in music-business will gain access to a variety of occupations, including publicist and artist manager, booking agent, ...

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Xerox CEO addresses shareholders

Xerox Corp. has evolved into a services-led technology company known for innovation and customers focus, its chief executive said Thursday during the company’s annual shareholder meeting in Greenwich, Conn. “We help manage the massive flow of information and communication in ...

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LPGA phenom Ochoa wants to achieve greatness

If you saw Lorena Ochoa in person for the first time and didn’t recognize her, you would be tempted to ask, “Hey, little girl, does your mother know you’re not in school?” Ochoa is 26 but looks more—much more—like 16. ...

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