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SBA office faces demise in budget cuts

Whether it comes at the hands of Congress, President Bill Clinton or the agency’s own administrator, the demise of Rochester’s U.S. Small Business Administration branch office looms this year. Administrator Philip Lader has said branch and post-of-duty offices will be ...

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Home Properties pledge gives
tenants lease-cancellation rights

In a move one company official predicts “will shake up the industry,” Home Properties of New York Inc. plans to roll out what might be a real estate first–a written promise to let dissatisfied tenants out of leases. The no-questions-asked ...

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Kodak managers put return
into real estate equation

Bausch & Lomb Inc. snagged three years’ worth of headlines for building a 20-story downtown headquarters. Over the same period Eastman Kodak Co. quietly created the Bausch & Lomb tower’s virtual equivalent, made out of wasted space found in its ...

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Fisher: “Kodak is truly changing the picture”

The following is a draft version of Eastman Kodak Co. CEO George Fisher’s remarks at the unveiling of the company’s new digital strategy in San Francisco on Tuesday, March 28: Opening Remarks: Kodak has always owned pictures. For most of ...

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Old, new unified, in digital strategy

Johannes Gutenberg did not invent printing. He put its principles together in a machine using movable type–and it changed the world. Likewise, Eastman Kodak Co. is combining old and new in the service of a vision that could change everything. ...

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SUNY colleges forced to confront impact of state budget cuts

It’s crisis-management time at local SUNY campuses–and that may be an understatement. As looming budget cuts shake these institutions to the core, faculty and administration–like their counterparts in business– also confront the long-range impact of their shrinking financial resources. SUNY ...

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Wilmorite sells apartment towers
along river downtown for $34 million

Wilmorite Inc. has closed what could be the area’s biggest real estate deal this year. The developer sold the Plaza at Genesee Crossroads apartment complex to Rural Opportunities Inc. for $34 million. Despite the complex’s hefty price tag and the ...

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Investors draw up plan to put
Wordsmart on map nationwide

Wordsmart Inc., a business communications training firm, is going national with the help of some heavy-hitting businessmen. The venture’s blueprint also calls for an initial public offering within three years. Richard Kaplan began management consulting for Wordsmart president Germaine Knapp ...

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Builders hurt by existing-home market, costs

As interest rates stabilize, the stock market rises and unemployment drops to the lowest level in more than four years, home builders are gearing up for a banner 1995, right? No, they are hunkering down for another ho-hum year. “I ...

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PSC Inc. readies stock offering, aims to pay down debt

As workers settle into their new digs, PSC Inc. is planning a second stock offering that in part will pay for the multimillion-dollar facility in Webster. The company likely will make an offering of some 2 million common shares next ...

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Buffalo firm set to buy
Marine Midland Plaza

A Buffalo-based developer plans to acquire Marine Midland Plaza. Benderson Development Co. Inc. reportedly has signed an offer to buy the 21-story downtown office tower and is awaiting closing. Donald Robinson, vice president of acquisitions for Benderson Development, declined to ...

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Claims against SRS reach $3.6 million

In the local office of the U.S. Bankruptcy Court, Scientific Radio Systems Inc.’s file bulges. More than 60 unsecured creditors–including several Rochester firms–have filed claims against the company, which last month petitioned to reorganize under Chapter 11 of the U.S. ...

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Bon-Ton’s court gamble
paid off in antitrust fight

Hailed as a victory for shoppers, Monday’s settlement giving the Bon-Ton Stores Inc. entree into the Rochester retail market was less big deal than big relief to some of the attorneys involved in the case. Like most landmarks, the antitrust ...

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Xerox division to exit
suburbs for downtown site

Xerox Corp. has leased 80,000 square feet of downtown office space in One City Center, partially reversing a 1992 flight to the suburbs. The company intends to use the space to consolidate operations of its information management division, which now ...

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Democrat and Chronicle logs
growth while Times-Union slides

The newspaper industry in 1994 showed signs of vigor missing since the recession, and Gannett Rochester Newspapers were part of the trend, despite a continued drop in Times-Union circulation. The Democrat and Chronicle’s weekday circulation climbed nearly 3 percent, from ...

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