Several fed members could support further easing
By The Associated Press
POSTED: May 16, 2012
Tags: easing, Fed
WASHINGTON — Federal Reserve policymakers are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate. Minutes of the central bank’s April 24-25 meeting released Wednesday stated that “several members” thought additional Fed support could be needed if the recovery lost momentum or if the risks to the economy [...]
Labor grant helps RochesterWorks! 
By Todd Etshman
POSTED: May 11, 2012
Tags: department of labor, labor grant, RochesterWorks!, Unemployment
Part of a $65.5 million U.S. Department of Labor grant to help speed up hiring for those individuals receiving unemployment compensation benefits is coming to Rochester in the form of up to five new career service advisors. “This is something we couldn’t afford to do ourselves,” said RochesterWorks! Executive Director Peter Pecor. The new career [...]
Obama visits Albany tech center with Cuomo
By The Associated Press
POSTED: May 9, 2012
Tags: Albany tech center, Economy, Gov. Andrew Cuomo, President Barack Obama
ALBANY — In separate speeches, President Barack Obama and Gov. Andrew Cuomo made clear a central theme that will emerge as this presidential campaign, and perhaps the next, plays out: The economy is getting better. During a Tuesday visit, Cuomo praised Obama’s leadership after the two men toured a high-tech facility in Albany, which [...]
Consumer spending down in March, income rose
By The Associated Press
POSTED: May 1, 2012
Tags: consumer spending, income up
WASHINGTON — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren’t growing fast enough. The Commerce Department said Monday that consumer spending increased just 0.3 percent last month after a 0.9 percent gain in February. Income grew 0.4 percent following a 0.3 percent gain in February. But after-tax [...]
Eastman Kodak 1Q loss widens
By The Associated Press
POSTED: April 27, 2012
Tags: first quarter loss, Kodak
NEW YORK — Eastman Kodak Co. said Friday that its first-quarter loss widened on hefty charges related to its reorganization under bankruptcy protection and a drop in sales. The company, which filed for bankruptcy protection in January, said its net loss swelled to $366 million, or $1.35 per share, for the January-March period. In the [...]
ReCharge New York recipients announced
By Todd Etshman
POSTED: April 26, 2012
Tags: businesses, low cost power allocations, Nonprofits, ReCharge New York, recipients
The Governor’s Office and the New York Power Authority announced the first round of New York businesses and nonprofits eligible to receive lower cost power allocations pursuant to Gov. Andrew Cuomo’s ReCharge New York program this week. The NYPA Board of Trustees approved power allocations to 49 Finger Lakes area businesses in return for their [...]
Rochester in middle of pack nationally for office space
By Denise M. Champagne
POSTED: April 26, 2012
Tags: Economy, industrial space, office space, tenants
The Greater Rochester area is near national averages in terms of office and industrial space. Currently, it is in the middle of several leading markets across the nation, according to figures presented Thursday by executives of the Rochester office of CBRE Group Inc., a global real estate services firm. Speaking to the Upstate NY Chapter [...]
Court tackles credit-bidding in bankruptcy ‘cramdown’
By Dolan Media Newswires
POSTED: April 24, 2012
Tags: Bankruptcy Code, U.S. supreme court
The justices of the U.S. Supreme Court took up a complicated bankruptcy case this week, parsing the language of the Bankruptcy Code to determine if a Chapter 11 debtor must give a secured creditor the right to credit bid items being sold at auction. The case of RadLAX Gateway Hotel v. Amalgamated Bank stems from [...]
First quarter home sale numbers up
By Todd Etshman
POSTED: April 22, 2012
Tags: housing market, National Association of Realtors, numbers up
The housing market’s recovery may have stalled, nationally (according to the National Association of Realtors), but Rochester area Realtors, builders and mortgage bankers reported noticeably stronger housing numbers for the first quarter of 2012 in the Genesee Region. Unusually warm weather, improving employment figures and a revised Home Affordable Refinance Program are some of the [...]
Hiring, home sales appear to slow
By The Associated Press
POSTED: April 19, 2012
Tags: hiring, home sales, slowdown
WASHINGTON — Momentum in U.S. hiring and home sales appears to be slowing, according to fresh data. The average number of people seeking U.S. unemployment benefits over the past month is at a three-month high. And fewer Americans bought previously owned homes in March after mild weather boosted sales in the previous two months. A [...]
Appropriations approves $402M for LSC
By Daily Record Staff
POSTED: April 19, 2012
Tags: appropriations committee, funding, Legal Services Corp., Senate
The U.S. Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies on Tuesday approved funding legislation that provides $402 million for the Legal Services Corporation, a $54 million increase from current levels. Most of the funding would provide grants to nonprofit legal aid programs to deliver civil legal assistance to low-income Americans who request [...]
US economic outlook brightens as sales rise
By The Associated Press
POSTED: April 16, 2012
Tags: economic outlook, sales
WASHINGTON — Americans bought more electronics, started home improvement projects and updated their wardrobes last month, inspired by warmer weather and a healthier job market. U.S. retail sales rose 0.8 percent in March, the Commerce Department said Monday. The increase capped a strong quarter of gains and contributed to a brighter outlook among economists for [...]
