Democrat and Chronicle from Rochester, New York on October 20, 2015 · Page A6
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October 20, 2015

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Democrat and Chronicle from Rochester, New York · Page A6

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Rochester, New York
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Tuesday, October 20, 2015
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Page A6
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Page6A Tuesday,October20,2015 DemocratandChronicle. com OPRAH BUYS 10% STAKE IN WEIGHT WATCHERS, SHARES SOAR PAGE 5B ROCBusiness Local news coming out ofthe business world. +3.1 Am .36 725 54.34 53.70 54.28 +.18 -9.8 ofAm .20 57513 16.21 15.98 16.14 +.02 -1.0 .68 5196 40.54 39.99 40.17 -.32 -3.4 53 3.58 3.40 3.43 -.09 +1.8 1.24f 81 39.05 38.58 38.80 +.04 +37.7 A 1.24 993 135.89 134.60 135.18 +.09 -11.3 .06 587 144.88 142.58 143.71 -.63 -26.6 .48 17207 17.02 16.68 16.82 -.07 -52.0 155 .23 .22 .22 +.00 +18.4 1.92 990 84.97 83.82 84.90 +.77 -9.1 1.60 1232 69.11 68.00 68.99 -.03 -22.8 112 17.20 16.32 16.75 +.25 +14.2 1.32 2004 120.94 118.43 119.38 -2.72 -28.6 .80 85 45.26 44.27 44.81 -.18 -18.6 1.24 7869 30.46 29.96 30.18 -.28 -12.4 2.92 13604 82.17 80.76 80.99 -1.49 -.1 Inst. .80 18 25.55 25.10 25.13 -.27 +24.8 .32 1365 10.61 10.49 10.52 -.05 -.9 .60 17682 15.36 15.15 15.36 +.08 -21.3 .42 8348 5.27 5.18 5.25 +.03 +5.2 .64 858 15.23 14.89 14.99 -.04 +14.7 .92 119401 29.56 28.75 28.99 +.01 -4.8 1.44f 9736 33.29 32.80 33.24 +.09 -28.1 276 65.00 63.66 64.63 +.31 -38.1 .32 27 18.00 17.55 17.80 -.19 -15.1 2.50e 1188 40.15 39.93 40.12 -.25 +4.9 2.00f 828 76.57 75.17 75.33 -1.25 -26.1 2 3.51 3.45 3.51 +.11 -3.8 1.28 590 75.61 74.12 74.91 -.07 -7.0 5.20 5808 149.97 148.38 149.22 -1.17 +.1 1.76 14439 62.77 61.91 62.22 -.21 -6.3 & 3.00 8509 98.20 97.31 97.94 -.30 -6.0 .30 8486 13.33 13.05 13.07 -.14 -12.9 -3 2.60 585 110.14 109.59 109.93 -.41 -3.9 el3 1927 47.63 46.98 47.44 +.06 -9.7 &T 2.80 2855 118.11 112.61 113.42 -3.58 -44.9 & .64a 118 7.95 7.47 7.61 -.34 +22.1 .60 132 71.00 70.30 70.59 +.17 -22.4 2.52 1071 100.37 99.32 100.05 -.57 +9.3 1.68 1831 50.72 50.01 50.46 +.23 -32.8 4354 6.94 6.74 6.85 -.08 -46.9 852 11.64 11.42 11.49 -.15 -.5 32.00 -10.1 .42 20 24.73 24.33 24.65 +.04 +14.7 1.00 78 42.69 42.16 42.48 +4.4 1.20 2384 41.46 41.11 41.42 -.01 -2.1 .56 2343 25.52 25.00 25.00 -.45 +3.0 .60 1987 129.07 125.98 129.03 +2.63 +3.0 (The)1.34 955 41.67 41.36 41.55 -.02 +23.2 3.00 1279 188.80 186.73 187.33 -1.38 -1.9 1.68 9 54.30 53.74 54.24 +.04 -2.7 0 10.06 9.94 9.94 -.04 +101.6 71 6.37 6.08 6.31 +.27 +14.5 9713 171.50 159.24 163.83 -13.73 -4.4 2.26f 17421 44.82 44.26 44.70 -38.5 2 1.96 1.95 1.95 -.08 +16.1 76 5.24 4.94 5.06 -.14 -46.1 .60 3389 7.32 6.88 6.94 +.09 -26.5 .28 12077 10.21 10.10 10.19 -.01 A 31.39 33.04 -.08 Indus. A 16.50 17.37 ... A 21.43 22.68 -.05 A 24.39 25.81 ... & o-Blend 18.05 18.05 +.05 & o-Blnd 13.10 13.10 +.01 & o-Blend 16.31 16.31 +.03 & o-Blend 13.09 13.09 +.02 AMT-F A 11.10 11.65 +.01 A 6.99 7.34 +.01 A 14.82 15.56 +.01 MunA 3.02 3.09 ... A 4.54 4.64 ... 10.52 10.52 -.01 The area's largest bank by total deposits announced on Monday that while profits were higher in its latest quarter, costs aving measures helped offset a slowdown in mortgage loan originations and an increase to cover potential credit losses. Buffalo-based M&T Bank, which employs about 450 in Rochester a nd operates 31area branches, said net operat- i ng income was $283 million in its third quarter of 2015, up from $275 million ayear earlier. Earnings p er share were $1.93 in its most recent quarter, up from $1.91a year earlier. However, those results missed Wall Street's exp ectations of $2.01. Shares c losed down nearly 3 percent, or $3.48, to $113.52. "Significantly, year over year revenues were up and expenses were d own, and our credit qual- i ty remained strong," said René F. Jones, Vice Chairman and Chief Financial Officer, in a statement, who added that results w ere "dampened by a s lowdown in mortgage loan origination activities that depressed both residential and commercial mortgage banking revenues." Mortgage-related banking revenues were down 10 percent compared to a year earlier, f alling from about $93.5 million in 2014 to approximately $84 million in the most recent quarter, according to M&T's balance sheet. Savings in operating expenses were lower due to decreased costs for profess ional services, which were partially offset by h igher salaries and employee benefit expenses, the bank said. The bank also inc reased by 52 percent its provision for credit losses, an allowance to offset anticipated losses, from $29 million i n the third quarter of 2 014 to $44 million in its most recentquarter. M&T also said it ismov- ing toward completing its acquisition of New J ersey-based Hudson C ity, expected to be on or about Nov. 1. The deal has received regulatory approval. TCLAUSEN@Gan- n ett.com M&Thas mixed 3Q numbers Buffalo bank’s profits up b ut expectations missed TODD CLAUSEN @TODDJCLAUSEN Every athlete knows success demands follow-through. Without it, that fabulous golf swing won’t deliver the ball to its target, the power r equired to put the baseball into the outfield is lost and the quarterback’s pass will never make it to the receiver waiting in the end zone. Follow-through is equally as relevant for leaders. Too often, large amounts of time are invested generating n ext year’s strategic plan but the follow- t hrough to execute it is lacking. With the work of devising the strategy d one, some behave as if s uccess is a fait accompli! In reality, after t he strategy is devised, t he real work of the lead- e r begins. Leadership follow- through demands attention to three critical elements in every function: what, when and who. » Specifically, what is to be accomplished in each function to implement the strategy? This must be measurable measureable and action- a ble. For example, if the strategy for growth is “ product failure rate of less than 0.5 percent” what must engineering, m aterials and manu- f acturing deliver? How will the design and the a ssembly process change? How will the h and-offs in the process be minimized and made effective? What monitoring is needed to assure we’re on target? » Specifically, when will each functions’ deliv- e rables be initiated and completed? Groups of cross-functional leaders must create, agree to and publish coordinated action plans. These address processes for achieving the various deliverables and the cross-functional connection points required. They also identify and attend predictable p rocess failure points. » Specifically, who o wns each deliverable within each function? Making the VP the owner i s ludicrous — unless the V P is the person with intimate, day-to-day con- n ection to the deliver- able. The owner should b e close to the frontline and be given the authority commensurate with creating success.The team of strategic planners’ continue the follow- through by requiring r egular reviews of progress based on the agreed upon, coordinated, published cross-functional action plans. Here lies that VP’s accountability. Mimi Bacilek is President of SuccessBuild- ersLLC, an executive and leadership development firm. She can be reached a t (585) 329-1525 or Mi- mi@SuccessBuild- e rsLLC.com. This column is written by members of the Rochester Women’s N etwork (rwn.org). LEADERSHIP Success demands follow-through MIMI BACILEK PROVIDED P HOTO Mimi Bacilek ALBANY— The ridesharing service Uber on Tuesday plans to start on an upstate tour to get state legislation to legalize its company in ups tate New York and the N ew York City suburbs. And they are traveling with a report that p redicts 13,000 full- and part-time jobs in upstate New York in the first y ear that would produce 500,000 trips per month. The company bases its est imate on its experience in other Uber cities. “If New York’s leaders allow ride-sharing across the state, a significant economic impact will be felt in every corner of the s tate,” the Uber report, o btained by Gannett’s Albany Bureau and set for release Tuesday, states. T he one obstacle for Uber and fellow ridesharing service, Lyft, is t he state Legislature. The companies said they need alaw to allow for group ins urance for its workers and mandate third-party background checks of its drivers. So far, though, the measure has stalled. Lawmakers return to the Capitol in J anuary. “ What we need is a comprehensive statewide solution,” said Josh Mohre r, general manager for Uber NY. The San Francisco- b ased company said that 350,000 New Yorkers outside New York City, w here the service is already operating, have downloaded the Uber app, asign of its popularity. The company operates in 325 cities across the globe, and it has 26,000 d rivers in New York City. U ber operates by allowing customers to request a ride through the a pp by using GPS to let them pick vehicles in the Uber plans upstate N.Y. expansion BY JOSEPH SPECTOR ALBANY BUREAU CHIEF SeeUBER,Page10A Acompany helping to move product for Mons ter Energy, North A merican Breweries, Nike and others has expanded its Henrietta operations center. Chicago-based Echo G lobal Logistics Inc., w hich purchased Trailer Transport Systems about four years, has more than doubled its local space by moving into a 3,300-square-foot center at 3144 S. Winton Road. T he move brought staff over from the Genesee Valley Regional Market Authority on Jefferson Road, and comes with p lans to increase total loc al employment from 19 to 30 workers by the end of next year, according to the company. "We were starting to b low out at the seams in t hat office," said John Migliorini, local manager for Echo. "We wanted to stay there because we were there since 1981but they j ust didn’t have the space for us." Echo runs both sales a nd rail operations out of the Henrietta site. Those two divisions combine for about $43 million in annual revenue for the compa- n y, Migliorini said. It's a f igure that has increased from about $15 million just four years ago, he added. The company is a pro- v ider of technology-based t ransportation and supply management services that help track, ship and ensure that freight meets government regulations f or various modes of transportation, such as truck and rail. The local o ffice specifically handles rail operations. Trailer Transport System was founded in 1981 and was managed by D ave Buschner and Mark E rvin, now vice presidents for Echo, which bought the local firm in December 2011for its rail capabilities. The deal has a llowed Echo to offer ser- v ices for every mode of transportation. "(Customers) make one call and we take care of it all for them," Migliorini s aid. TCLAUSEN@Gan- n ett.com PROVIDED From left, Dave Buschner, regional vice president and Mark Ervin, vice president of Rochester intermodal, at Echo Global Logistic’s Henrietta site. Echo doubles staff s pace in Henrietta Logistics firm plans to increase total local employment TODD CLAUSEN @TODDJCLAUSEN

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