Rochester Business Journal Leading source of business news and information in Rochester, N.Y.

The Treasury Department said it will provide $5 billion to GMAC Financial Services LLC, the ailing financing arm of General Motors Corp., AP reported. In exchange, the government will receive preferred shares that pay an 8 percent dividend and warrants ...

Quarterback Matt Ryan of the Atlanta Falcons earned the Associated Press 2008 NFL Offensive Rookie of the Year award Tuesday, AP reported. The quarterback from Boston College was a landslide winner in balloting of 50 sports writers and broadcasters.

The Conference Board said the Consumer Confidence Index fell to 38 in December from a revised 44.7 in November, AP reported. It marks the lowest point since the group began compiling the index in 1967. The previous low was 38.8 ...

The stock market showed gains Tuesday afternoon, bolstered by the latest lifeline to the auto industry, given to GMAC Financial Services LLC. At 3 p.m., the Dow Jones Industrial Average was up 109 points, or 1.3 percent, at 8592.65. The ...

New York State Comptroller Thomas DiNapoli gave Gov. David Paterson’s proposed executive budget mixed reviews in a report released Tuesday. DiNapoli noted the proposal takes steps toward aligning spending with available revenues. However, he said, it also has a number ...

The Standard & Poor’s/Case-Shiller 20-city housing index fell in October by a record 18 percent compared with a year earlier, AP reported. The index began in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history.

New York State Comptroller Thomas DiNapoli gave Gov. David Paterson’s proposed executive budget mixed reviews in a report released Tuesday.

The County of Monroe Industrial Development Agency approved assistance for USAirports Flight Support South LLC, which is purchasing Landmark Aviation, County Executive Maggie Brooks announced Tuesday. The benefit is on $1.2 million, a portion of the overall sale price that ...

Gov. Rod Blagojevich was expected Tuesday afternoon to appoint a Senate replacement for President-elect Barack Obama, AP reported. Illinois Senate President Emil Jones said Blagojevich has chosen former state Attorney General Roland Burris.

The County of Monroe Industrial Development Agency approved assistance for USAirports Flight Support South LLC, which is purchasing Landmark Aviation, County Executive Maggie Brooks announced Tuesday. (Click here for News 10NBC video on the Medley Centre presentation.)

The New Year is knocking on our door—I can’t believe it’s 2009!—and the old year is all but history. Ah, but despite last weekend’s brief warm-up, Old Man Winter is still rockin’ and rollin’. Cold. Snow. Ice. My golf clubs ...

Wall Street saw the major indices fall Monday after the proposed joint venture between Kuwait and Dow Chemical fell through. See a roundup of prices for local stocks.

Fiori Blanc de Blanc Champagne, produced by Casa Larga Vineyards Inc. in Fairport, received a rating of 85 points from Wine Spectator magazine during a champagne review for the Dec. 31 issue.

The town of Farmington’s wastewater treatment facility received the project of the year award in the environmental projects category from the Genesee Valley Branch of the American Public Works Association, town officials announced. Supervisor Ted Fafinski said the $18 million ...

Sister Ann Collins is retiring as president and CEO of the Nazareth Schools Dec. 31 after 22 years of service as principal of Nazareth Academy and founding president of Nazareth Schools. Sister Patricia Carroll is slated to replace Collins beginning ...