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Investments

Former financial adviser Galan pleads guilty in federal court

Former Brockport financial adviser Eduardo Galan on Monday pleaded guilty to two felony counts in federal court, admitting to having bilked 38 area investors in a Ponzi scheme that ran from 2005 to 2013.

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Report shows N.Y. small-business owners upbeat

Small-business owners in New York have a positive outlook for business prospects over the next six months, but hiring plans are down, a new report from American Express Open shows.

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Are investments in oil too risky at any price?

Black gold is looking a little tarnished these days. Oil prices have fallen more than 50 percent over the last 12 months and are down over 67 percent from their peak price in 2008. Many reasons have been cited for ...

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5Linx generates $6.7M return for retirement fund

5Linx Enterprises Inc. has generated an estimated $6.7 million return, nearly four times the initial investment, for the New York State Common Retirement Fund, the state comptroller said Thursday.

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Business News & Information in the Big Apple

NYC is the commercial epicentre of the world. Terabytes of news and information flow from New York City each and every minute and big business rules the roost.

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DiNapoli projects securities industry profits to dip

Higher interest rates, litigation costs and uncertainty surrounding the federal government could temper earnings in the securities industry in the second half of 2013, state Comptroller Thomas DiNapoli said Tuesday.

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Reports: Bausch & Lomb hires Goldman to explore sale

Bausch & Lomb Inc. appears to be on the market. The Wall Street Journal and Bloomberg report the company has hired investment bank Goldman Sachs Group Inc. to explore a sale after receiving informal expressions of interest from several large health care companies. The articles cite unnamed people familiar with the matter. The eye-care company reportedly is hoping to command a price of at least $10 billion.

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Local stocks outpace indexes in third quarter

Local stocks trading on the New York Stock Exchange gained 11 percent in the third quarter, and locals on the Nasdaq and other exchanges rose 7 percent, outpacing broader indexes.   The Dow Jones Industrial Average was up 4.3 percent ...

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Soon-to-expire legislation re-ignites interest in irrevocable trusts

A federal law set to expire by year’s end has rekindled interest in irrevocable trusts, local money managers and attorneys say. The legal arrangement has various advantages, including considerable tax benefits for wealthy individuals. Uncertainty surrounding the upcoming election cycle ...

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Sooner or later: What’s the best time to claim Social Security?

One of the questions I am asked most frequently by clients approaching retirement is "When should I start taking Social Security?" While it is tempting to begin claiming benefits the moment you are eligible (age 62), that may not be ...

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Waterford Group nears its $100 million target

The Waterford Group LLC, a 401(k) provider in Perinton, aims to have $100 million in assets under management by Labor Day. Launched in January 2011, the firm has fiduciary responsibility for choosing and monitoring the funds in 401(k) and defined ...

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Kodak expects to post positive cash flow in ’13

Eastman Kodak Co.’s survival depends on generating cash-from its ongoing digital patent sale in the short term and from operations in the long term. In financial projections disclosed this week, Kodak said it expects to have negative operating cash flow ...

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