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Daily Archives: February 11, 2009

Agreement reached on stimulus bill

Senate Majority Leader Harry Reid Wednesday afternoon said an agreement has been reached on an economic stimulus bill. The legislation should create 3.5 million jobs once President Barack Obama signs it into law and it takes effect, AP reported.

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Trade deficit drops to lowest point in six years

The U.S. trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports, AP reported. The deficit in December fell 4 percent to $39.9 billion, from $41.6 billion in November, the ...

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FBI investigating corporate fraud

The FBI is conducting more than 500 investigations of corporate fraud amid the financial meltdown, FBI Deputy Director John Pistole told the Senate Judiciary Committee on Wednesday. There are 530 active corporate fraud investigations, some of them involve big names ...

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No amount of apologizing can make things right

“When in doubt, don’t do it!” —Anyone with more intelligence than ego The smoke has barely begun to clear. The stench remains almost overwhelming. The rotten tomatoes are still being launched. The verbal assault is 24/7. Doubt and disgust prevail. ...

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Regulator urges suspension of foreclosures

A federal regulator on Wednesday urged more than 800 thrift institutions to suspend all foreclosures while the Obama administration develops plans to keep borrowers in their homes, AP reported. The Obama administration plans to spend $50 billion to combat foreclosures ...

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Veramark sees improvement in Q4

Veramark Technologies Inc. posted a profit and an increase in sales in the fourth quarter, the company said Wednesday afternoon. Net income for the quarter totaled $59,000, or a penny a diluted share, compared with a net loss of $443,000, ...

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G&W reports ‘difficult’ quarter; shares plummet

Genesee & Wyoming Inc. got a boost from tax benefits and sales of assets in the fourth quarter resulting in a 31-cent increase in diluted earnings per share, but revenues fell short of the firm’s guidance. Net income for the ...

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Twitter event benefits water crisis

A festival to bring global awareness to the water crisis is slated to unite Rochester with communities worldwide through the micro-blogging site www.twitter.com. The Rochester Twestival is slated to begin at 5 p.m. Thursday at The German House, located at ...

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Moody’s downgrades Kodak rating

Moody’s Investors Service lowered Eastman Kodak Co.’s corporate family rating to B3 from B1. The rating outlook is negative, Moody officials said. Moody’s in a statement said the rating action reflects its expectations that “Kodak’s profitability and cash flow will ...

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Nixon to cut non-lawyer positions

Nixon Peabody LLP plans to lay off up to eight non-lawyer personnel in its Rochester office. The local work force reduction of between five and eight administrative and clerical workers is planned as part of a firmwide downsizing in which ...

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FLTG to use county’s new fiber-optic ring

Victor-based Finger Lakes Technology Group Inc. has inked an agreement with Ontario County’s Finger Lakes Regional Telecommunications Development Corp. to be the first telecom provider to use FLRTDC’s fiber-optic ring. Finger Lakes Technology plans to add capacity on the 35-mile ...

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FLTG to use county’s new fiber-optic ring

Victor-based Finger Lakes Technology Group Inc. has inked an agreement with Ontario County’s Finger Lakes Regional Telecommunications Development Corp. to be the first telecom provider to use FLRTDC’s fiber-optic ring.

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Moody’s downgrades Kodak rating

Moody’s Investors Service lowered Eastman Kodak Co.’s corporate family rating to B3 from B1. The rating outlook is negative, Moody officials said.

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Twitter event benefits water crisis

A festival to bring global awareness to the water crisis is slated to unite Rochester with communities worldwide through the micro-blogging site www.twitter.com.

Read More »