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

  Buying a house costs significantly more today than it did a year ago, and not just because home prices have been on the rise. While the New York State Association of Realtors reported that median sales prices rose $4,900 ...

Rochester developer Thomas Masaschi and his business partner have asked state Supreme Court Justice Deborah Chimes to delay until late October a foreclosure action on a financially troubled Buffalo apartment complex so alternative financing can be secured, enabling them to ...

Three local companies made Great Place to Work and Fortune’s 100 Best Workplaces for Millennials for 2018. Wegmans Food Markets Inc. ranked No. 12, ESL Federal Credit Union No. 27 and First American Equipment Finance No. 72. The list includes, ...

If you don’t have a trumpet, clarinet or other instrument, it’s a little difficult to make music. Thus, M&T Bank and the Rochester Education Foundation, or REF, will launch the 11th annual Jazz Fest Musical Instrument Drive in hopes of providing ...

BUFFALO — Todd Morgan, the son of prominent Rochester real estate developer Robert Morgan, pleaded not guilty today in federal court to 26 counts of wire and bank fraud and conspiracy to commit wire and bank fraud. Todd Morgan is one ...

BUFFALO — Federal authorities accused two Morgan Management executives and two business associates of fraudulently obtaining $167.5 million in mortgage loans which, the special agent-in-charge of the FBI’s Buffalo Division said, is akin to stealing money. “Fraud for profit aims to ...

Like a favorite song on an MP3 player, the housing market in Monroe County is stuck on repeat. That’s what the latest Marketwatch report from the Greater Rochester Association of Realtors (GRAR) shows. Again. Home sales in Monroe County plummeted ...

Rich Klein has been promoted to president of ConServe, the locally based collections specialist. A graduate of St. John Fisher College and the University of Rochester’s Simon Business School, Klein had been chief financial officer at the firm. Klein was ...

You may think your monthly budget is stretched to the limit, and it could very well be, yet the cost of living in Rochester ranks as the fourth least expensive among 15 metro areas in the state. The Economic Policy ...

Tops Friendly Markets is contemplating bankruptcy reorganization in an attempt to get out from under debt incurred from a series of profit skimming steps over the last decade, according to published reports. The union representing employees at approximately 170 stores, ...

Tagged with: bankruptcy Everycore Morgan Stanley Tops Friendly Markets union

In a city of festivals, what’s one more? Summit Federal Credit Union and Galaxy Events announced this week that Rochester will have a new festival this summer, the ROC The Taste festival, combining food and live music. The event is ...

Tagged with: festival Galaxy Events parcel 5 ROC The Taste Summit Federal Credit Union

  Rochester businessman Edward Pettinella has endowed a second professorship at Syracuse University’s Whitman School of Management, where he earned a graduate degree in 1976. Pettinella, the former president, CEO and director of Home Properties, gave $2 million to SU to ...

Tagged with: Edward Pettinella Home Properties Syracuse University Whitman School

M&T Bank has announced longtime chairman and CEO Robert G. Wilmers passed away Saturday night at the age of 83. Wilmers played a vital role in growing M&T from a modestly sized banking operation to the largest in both the ...

Tagged with: M&T Bank

A new restaurant and two commercial businesses will be moving into 3 City Center, the former Frontier Communications building at 180 S. Clinton Ave. The Mueller Restaurant Group will open a first-floor lunch and dinner restaurant in early 2018 that will include outdoor patio seating and "grab-unnamedand-go" service. The new eatery will occupy 6,835 square feet. The Mueller Restaurant Group also owns Label 7 in Pittsford. High Falls Advisors Inc. will move its financial services firm into nearly 8,200 square feet of third-floor space on Dec. 1.

During the 2016 presidential campaign, Democratic candidate Bernie Sanders said the following about the Export-Import Bank of the United States: “We should not be providing corporate welfare to multinational corporations.” The problem with Sanders’s characterization is that EXIM’s transactions directly ...