Putnam to close, merge mutual funds
Mutual fund firm Putnam Investments, reeling from plunging stock portfolios over the past two years, confirmed today it would merge or close 11 funds to simplify its offerings and improve performance, Reuters reported. The No. 4 U.S. fund company is a unit of insurance broker Marsh & McLennan Cos. Inc.
Dell sees no computer industry rebound
Michael Dell, head of PC maker Dell Computer Corp, today said he has not seen signs of a strong recovery in the industry. The computer industry had one of its worst years in 2001. Dell was speaking in Singapore.
Israel plans pull out of Palestinian areas
Israel planned to pull its army out of reoccupied Palestinian areas today in a move that could hasten a cease-fire sought by U.S. Middle East envoy Anthony Zinni, Reuters reported.
Global Crossing execs to testify on Hill
Global Crossing Ltd.â€™s CEO and chief financial officer will testify before the House of Representatives this week about how the company’s bankruptcy has affected workers, investors and financial markets. CEO John Legere and CFO Dan Cohrs are slated to appear Thursday before the Committee on Financial Serviceâ€™s Subcommittee on Oversight and Investigations. Th[...]
Two groups to get antitrust funds
More than 100 health, nutrition and agriculture groups across the state, including two in Rochester, will share $18.5 million as part of a $225 million settlement with vitamin manufacturers. Attorney General Eliot Spitzer said the payout stems from a historic price-fixing case against six of the worldâ€™s top vitamin manufacturers, including Hoffman-LaRoche and BASF Corp. […]
Xerox confirms Mulcahy-Goff meeting
Xerox Corp. today confirmed that Chairman and CEO Anne Mulcahy met with Rochester civil rights activist Rev. Norvel Goff in January to discuss the document companyâ€™s treatment of minorities. Goff previously told the Rochester Business Journal that he had been concerned by complaints by document company workers. Some 100 workers complained to him of alleged […]
Passage of state budget likely in April
State lawmakers today predicted that New Yorkâ€™s leaders would pass a budget in April, if not by the stateâ€™s April 1 deadline. The spending plan would include money for a Rochester fast ferry and at least one other local project, they said. Unlike previous years, said Sen. James Alesi, R-Fairport, the Senate and Assembly revenue […]
Canandaigua Wine weighs expansion
Canandaigua Wine Co. is considering a plan to more than double its Ontario County headquarters with a 42,000-square-foot expansion. The division of Constellation Brands Inc. would consolidate 115 staffers from other area sites, if the plans go through. Roughly 90 employees already work at the site in Canandaigua. For the full story, see the March […]
Report: Tipper Gore looks at Senate run
Tipper Gore is considering a run for the Senate seat her husband gave up to become vice president, sources close to her told the Associated Press. Democrats urged Gore to run after Sen. Fred Thompson, a Republican, said last week he would not seek re-election.
No one injured in blast at U.S. Embassy
A student today tossed a grenade outside the U.S. Embassy in San’a, a day after Vice President Dick Cheney visited Yemen, the Associated Press reported.
NCAA tournament continues
In the second day of the NCAA tournament, Oklahoma beat Illinois-Chicago in the West Region; Pittsburgh beat Central Connecticut in the South; North Carolina State topped Michigan State in the East; and Creighton edged Florida, 83-82, in double overtime in the Midwest.
Odd news of the week
A London clinic is charging stressed professionals $5,680 to drill a hole in their armpits, snip away their nerve endings and eliminate their blushes for good, Reuters reported. Its patients include television presenters and financiers, fearful that any sign of weakness could damage their careers.