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Daily Archives: June 26, 2008

Paychex tops $2B in revenue

Paychex Inc. announced record net income of $576.1 million for fiscal 2008, a year in which it surpassed $2 billion in revenue for the first time. The Penfield-based payroll and human resources services firm reported its fourth-quarter earnings after the ...

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ESDC gives Geneva $2M to renovate 7 buildings

The city of Geneva was approved Thursday by the Empire State Development Corp. for $2 million in Restore New York II Communities funding to renovate seven commercial buildings downtown. The ESDC also approved a $250,000 Aid to Localities grant for ...

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MCC trustees to consider interim chief

The Monroe Community College board of trustees will hold a special meeting 9 a.m. Monday to consider appointing an interim president, the college said Thursday. The meeting will take place in the R. Thomas Flynn Campus Center at the college’s ...

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CEO Smith retires; Infotonics faces shakeup

David Smith has retired as president and CEO of the Infotonics Technology Center Inc., after more than six years of leadership. Smith, a former Eastman Kodak Co. employee, served as the Infotonics Center’s chairman from 2002 to 2004, when he ...

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Supreme Court strikes down ‘millionaire’s amendment’

The U.S. Supreme Court on Thursday tossed out the “millionaire’s amendment,” a provision of the Bipartisan Campaign Reform Act of 2002 that raised contribution limits for a candidate running against a wealthy opponent who bankrolls his own election campaign. The ...

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Children’s Zone names its first executive director

Rochester Children’s Zone Inc. on Thursday named author and community advocate Iris Banister as its first executive director. Banister, elected by the non-profit agency’s board, has been executive director of Wilson Commencement Park, principal of the Charter School of Science ...

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RGRTA gets $1M toward hybrid buses

The Rochester-Genesee Regional Transportation Authority will get $1 million in state funding to buy five hybrid-electric buses for use in Monroe County, the New York State Energy Research and Development Authority announced Thursday. The money is part of $4.7 million ...

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Kodak maintains S&P rating of B+

Eastman Kodak Co.’s plan to buy back up to $1 billion in company stock does not affect its rating or outlook, Standard & Poor’s Ratings Services said. The ratings agency current has a B+ rating on Kodak with a stable ...

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Coalition launches WeROC campaign

WeROC, designed to promote a sense of pride in greater Rochester, was launched Thursday by business, civic and elected leaders. The campaign is designed to show reasons to live and do business in the area, officials said. “The Rochester region ...

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Wall Street tumbles on downgrades of brokerage, automotive stocks

Stocks tumbled Thursday as Wall Street contended with a barrage of bad news: another surge in oil prices and warnings of trouble in the key financial, automotive and high-tech industries. The major indexes showed losses of more than 2 percent, ...

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Existing home sales edge up 2 percent

Sales of existing homes edged up slightly in May although median home prices continued to fall, AP reported. The National Association of Realtors reported that sales rose by 2 percent to 4.99 million units. The median price dropped 6.3 percent ...

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GM drops to 53-year low; Goldman urges ‘sell’

Shares of General Motors Corp. hit their lowest level since 1955 and dragged down the auto sector on Thursday after The Goldman Sachs Group Inc. cut the struggling manufacturer to a “sell” rating, Reuters reported. GM shares were trading midday ...

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InBev begins hostile takeover of Anheuser-Busch

Belgian Brewer InBev is taking what could be the first steps toward a hostile takeover of Anheuser-Busch Cos., AP reported. InBev announced Thursday it has filed a lawsuit in Delaware Chancery Court. The lawsuit seeks a judgment to confirm Anheuser-Busch ...

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Supreme Court says Americans have right to guns

Americans can keep guns at home for self-defense, the Supreme Court ruled Thursday in the justices’ first-ever pronouncement on the meaning of gun rights under the Second Amendment, AP reported. The court’s 5-4 ruling struck down the District of Columbia’s ...

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Tiger’s absence leaves fans in the rough—or watching the LPGA

How would you feel if the Steinbrenners announced that the New York Yankees—love ’em or hate ’em—were canceling the rest of their season? Or if Red Sox owner Thomas Henry, coming off Boston’s second World Series in four years, did ...

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