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Daily Archives: October 15, 2008

Retail sales plunge 1.2 percent in September

Retail sales plunged in September by the largest amount in three years, AP reported. The Department of Commerce Wednesday said retail sales decreased 1.2 percent last month, nearly double the 0.7 percent drop that had been expected. It was the ...

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Bernanke: Quick economic rebound not in cards

Federal Reserve Chairman Ben Bernanke cautioned Wednesday the country’s economic health won’t snap back quickly, AP reported. “Stabilization of the financial markets is a critical first step, but even if they stabilize as we hope they will, broader economic recovery ...

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Oil hits 13-month low on recession concerns

Oil dropped nearly $3 on Wednesday, touching 13-month lows on expectations that the deepening economic slowdown will cut into already weakening demand, Reuters reported. U.S. crude fell $2.87 a barrel to $75.76 midday, after hitting $74.62, the lowest since September ...

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Coca-Cola’s 3Q profit up 14 percent

The Coca-Cola Co. reported its profit rose by double digits, weathering a volatile third quarter in which consumers felt pressured by economic uncertainty, AP reported. The nation’s biggest soft drink seller reported third-quarter profit was 14 percent higher than a ...

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G-8 to hold special meeting

Leaders of the Group of Eight major industrial countries said Wednesday they will meet “in the near future” to map strategies to deal with the global financial crisis, AP reported. The G-8 leaders said they were united in their commitment ...

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Owners announce $250M investment in mall

Medley Centre owners announced a planned $250 million investment in the struggling Irondequoit mall. At a press conference Wednesday, officials including the Irondequoit Town Supervisor said they are developing a pilot agreement to review the plans. Upon formal approval, the ...

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Business Council names Business Person of Year

Kenton Fiske, president and CEO of SenDEC Corp., was named 2008 Business Person of the Year Wednesday. More than 900 people attended a luncheon at Rochester Riverside Convention Center to honor seven finalists. The award is given by the Small ...

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Optical Society to honor 3 in Rochester

The Optical Society is honoring three Rochester-area scientists with awards at its Frontiers in Optics annual meeting to be held in Rochester next week. Those honored for their contributions to the field of optics include Michael Bechtold, co-founder and president ...

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Bank plans ceremony for new branch

A ribbon-cutting is set for Oct. 31 for Canandaigua National Bank’s 13th branch in Monroe County. The ceremony is at 11:30 a.m. at the corner of East Henrietta and Castle roads in Henrietta, bank officials said this week. The bank ...

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Kodak declares semi-annual dividend

Eastman Kodak Co. Wednesday declared a semi-annual cash dividend of 25 cents a share on the outstanding common stock of the company, payable Dec. 12. It will be paid to shareholders of record at the close of business on Nov. ...

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JPMorgan Chase profit down 84%

JPMorgan Chase & Co. Inc. on Wednesday reported an 84 percent decline in third-quarter net income, to $527 million from $3.4 billion a year ago. The New York City-based financial firm beat Wall Street estimates, however, reporting earnings of 11 ...

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McArdle Ramerman relocates office

Rochester executive and leadership development firm McArdle Ramerman Inc. has relocated to the Chapel at Strong-Todd House on East Avenue, officials announced Wednesday. Rochester Mayor Robert Duffy was scheduled to preside at the grand opening late Wednesday afternoon, joining company ...

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Harris RF gets $6M defense order

Harris Corp.’s RF Communications Division in Rochester has received $6 million in new orders from the U.S. Department of Defense for its high-capacity, line-of-sight radios, the company announced Wednesday. Harris will deliver its RF-7800W radios to the U.S. Army for ...

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Bonadio adds HR services

Accounting firm Bonadio & Co. LLP has added a full range of human resources to its services, the result of its recent acquisition of Albany-based DR Group LLC, the company announced Wednesday. The services, called SourceHR, originated as a specialty ...

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Dow plunges 733 points Wednesday

The Dow Jones Industrial Average dropped 733 points Wednesday, to its second-largest point loss ever. It closed at 8577.91. Stocks of local interest saw declines, as well. Bank of America Corp., which closed up more than 16 percent Tuesday, closed ...

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