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Daily Archives: February 26, 2009

New jobless claims rise more than expected

The Labor Department said Thursday first-time requests for unemployment benefits jumped to 667,000 from the previous week’s figure of 631,000, AP reported. Analysts had expected a slight drop.

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Obama unveils new budget

President Barack Obama unveiled a multi-trillion-dollar spending plan Thursday that would boost taxes on the wealthy, curtail Medicare, lay the groundwork for universal health care and leave a string of deficits dwarfing any in the nation’s history, AP reported.

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U.S. banks report first quarterly loss since ’90

The nation’s banks lost $26.2 billion in the fourth quarter, the first quarterly deficit in 18 years, AP reported. The Federal Deposit Insurance Corp. said Thursday U.S. banks and thrifts more than doubled the amount they set aside to cover ...

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New-home sales tumble to record low

The Commerce Department said Thursday sales of new homes in the United States fell 10.2 percent to a seasonally adjusted annual rate of 309,000, AP reported. It is the worst showing on records going back to 1963.

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Official OKs Vick for home confinement

Imprisoned NFL star Michael Vick will be allowed to finish his sentence under home confinement because there is no room at a halfway house for him, AP reported. Vick is serving a 23-month federal sentence after pleading guilty to bankrolling ...

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Paetec reports $114M loss; Chesonis ‘excited about future’

Paetec Holding Corp. is not only well-positioned “to weather the storm” of the current economic downturn but in line for growth, Paetec Holding Corp. chairman and CEO Arunas Chesonis told analysts Thursday morning. Before the opening bell, the company posted ...

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Black Collegian honors Harris, ITT

Two companies with local operations have been recognized by The Black Collegian magazine as a Top 100 employer. Florida-based Harris Corp., which has its RF Communications division in Rochester, and ITT Corp.’s Rochester-based Space Systems Division were No. 41 and ...

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Eye and Tissue bank gives $40k to URMC

Two groups of researchers at the University of Rochester Medical Center this year will each receive $20,000 from the Rochester Eye and Tissue Bank, a non-profit organ and tissue donation agency.

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Gannett dividend plummets to 4 cents a share

In response to the recession and a suffering newspaper segment, Gannett Co. Inc. Wednesday declared a quarterly dividend of 4 cents a share—down 90 percent from the company’s normal dividend of 40 cents a share. The reduction is expected to ...

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Townsend to lead NY Power Authority

Fairport resident Michael Townsend has been elected chairman of the New York Power Authority. His term is slated to run through May 2011. The seven-member NYPA board governs a non-profit public benefit corporation that operates 18 facilities including the massive ...

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Riedman gives RGH $500k

Rochester General Hospital has received a $500,000 gift from businessman John Riedman. “This donation will help us make significant facility building improvements and infrastructure enhancements that will benefit the thousands of patients in our community who turn to RGH for ...

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Tiger’s return to the PGA Tour tees up questions about its future

By the time you read this, Tiger Woods might be back home changing Sam and Charlie’s diapers and watching the Accenture Match Play on TV. I hope I’m wrong and Tiger is back being Tiger this weekend in Marana, Ariz. ...

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FRIDAY, FEB. 27 Brighton’s Best Chapter of Business Network International Meeting—Free—7 – 8:30 a.m.—Hawthorne’s Restaurant, 3500 East Ave.—Also offered March 6—Call Ben Levy at 442-7014 for additional information. Rochester Professional Consultants Network MS Word Workshop—$5 for members, $8 for non-members—7:45 ...

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Riedman gives RGH $500k

Rochester General Hospital has received a $500,000 gift from businessman John Riedman. On the drawing board for Rochester General is a $130 million, six-story addition.

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Townsend to lead NY Power Authority

Fairport resident Michael Townsend has been elected chairman of the New York Power Authority. His term is slated to run through May 2011.

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