Democrat and Chronicle from Rochester, New York • Page 42

14D USINESS DemocratandChronicle.com LOCAL STOCKS 13D UD CURRENCY NASDAQ. 13D 12D NYSE AMEX 13D UDMUTUALS THURSDAY, OCTOBER 18, 2001 DEMOCRAT AND CHRONICLE THE MARKET DoveBid auctioning Xerox inkjet assets square-foot inkjet parts factory in Dundalk, Ireland. DoveBid said it will sell equipment from Xerox's Webster plant as well as others in New York state, China and Mexico. Among the items on the block: semiconductor equipment, late-model plastics equipment, test and measurement equipment, metal-working and ink equipment. Some equipment is that our offerings will attract a broad buying audience from around the world." DoveBid will also host in-person auctions at the Webster complex.

Xerox officials declined to say how much money they hope to generate from the sale. DoveBid makes a commission on each item sold, but the bulk of the proceeds goes to Xerox. less than a year old. Other items include a forklift, desks, file cabinets, a scanning electron microscope, robotic assemblers, video cameras, printers, flat-panel screens and more than 200 Dell, Compaq, Gateway, IBM and Macintosh personal computers. Xerox officials said this is the first time the company has dealt with DoveBid but was impressed with the auctioneer's track record for selling on a global scale.

"With over 15,000 items for sale from 11 locations worldwide, Xerox needed a global company that has proven experience in selling manufacturing and development assets," said Margaret Lau, chief financial officer for Xerox's inkjet business unit. "Dove-Bid's innovative Webcast technology helps ensure ireeoDspaiDD Prodliiodmiy BY STAFF WRITER RICHARD MULLINS Xerox drive to raise cash by selling assets has led to the Internet auction block. But instead of selling on eBay.com, Xerox has hired eBay's industrial rival, DoveBid.com, to sell 15,000 items that relate to Xerox's inkjet plants, including the company's entire ft, -r- iU' takes Fed chairman says economy has made strides since Sept. n. This is the Corning manufacturing plant south of Corning.

It is a leading supplier of smog-busting components in cars, and now the company plans a new factory for similar devices in diesel engines. Corning project to add jobs THE ASSOCIATED PRESS WASHINGTON The nation's economic outlook remains murky in the aftermath of the terror attacks, Federal Reserve Chairman Alan Greenspan told Congress yesterday. A key ingredient of economic health productivity is likely to suffer in the short term, he said. To stabilize the tottering economy, Greenspan and his Federal Reserve colleagues have cut interest rates nine times this year, with two rate reductions coming after the Sept. 11 attacks as part of an effort to bolster consumer and business confidence.

While Greenspan didn't specifically discuss the prospects for future interest rate cuts, some private economists viewed his remarks as signaling another cut was coming, probably at the Fed's next meeting on Nov. 6. In the days following the attacks in New York City, Arlington, and rural Pennsylvania, Greenspan A $200 million factory in Steuben will create 250 slots. Yesterday at a glance DOW 9,232.97 NASDAQ 1,646.34 75.73 Stocks of local interest, 13D BUSINESS BRIEFS LOCAL Harris reports sales increase Harris RF Communications saw a 13 percent increase in sales during July, August and September. Meanwhile, Harris parent of the Rochester maker of tactical radio products, posted third-quarter sales of $443.4 million, down from $460.4 million a year ago.

Net income was $17.1 million, or 26 cents a share. During third quarter 2000, the company posted a loss of $34.8 million, or 51 cents a share. COMIDA at odds on hotel The County Of Monroe industrial Development Agency wants its money back from E.J. Del Monte Corp. Del Monte in September donated its Marriott Thru-way hotel to Rochester Institute of Technology, which is turning the hotel into a dorm.

Del Monte had renovated the property with a $147,000 COMIDA incentive package. The $3.5 million project had been expected to create 33 jobs. "We can't say we're creating jobs and then not end up doing that," said COMIDA Chairman Joseph Rulison, even though the agency supports conversion of the hotel. Del Monte officials declined comment. Bankers say income is up Financial Institutions Inc.

reported a 15 percent jump in third-quarter income. The holding company based in Warsaw, Wyoming County, had net income of $5.4 million for July, August and September, compared with $4.7 million in the same quarter a year ago. Earnings per share were 45 cents, compared with 39 cents. The company ended the quarter with assets of $1.75 billion, up $488 million from Sept. 30, 2000.

Financial Institutions is the parent company of five banks, including Wyoming County Bank, The National Bank of Geneva and the Pavilion State Bank. surgery aid gets OK Rochester eye care company Bausch Lomb Inc. received approval from the Food and Drug Administration to market its Active Eyetracking System in the United States. The system tracks movement of the eye during laser surgery. The high-speed system will be incorporated into all of Technolas lasers, which are used for vision correction surgery, sold after November 2001.

-STAFF REPORTS Key indicators T-note, 10-year yield, 4.56, down .01. Dollar vs. yen, up .13 yen to 141.46. Gold, NY Merc, up $1.10 cents to $283.40. Oil, light, sweet crude, for Nov.

delivery, down 19 cents to $21.81. CONTACTING US To offer story ideas or suggestions, contact Ellen Rosen, business editor, at (716) 258-2320 or erosen 0 DemocratandChronicle.com. The first auctions will take place at 9:30 a.m. Oct. 23-26 in Webster.

DoveBid will hold a two-day preview of the assets from 9 a.m. to 4 p.m tomorrow and Monday in Webster and Canan-daigua, Ontario County. The Dundalk auction is at 1 p.m. (local time) Nov. 13- For more information: www.dovebid.com a said economic activity had "declined significantly." But there have been some signs of improvement.

"As the initial shock began to wear off, economic activity recovered somewhat from the depressed levels that immediately followed the attacks, though the recovery has been uneven," Greenspan told Congress' Joint Economic Committee. Zero-interest financing incentives being offered by automakers had produced a sharp rebound in vehicle sales at the end of September that apparently carried over into early October, Greenspan noted. But he said that many retailers of consumer goods other than cars "have only partially retraced steep drops that occurred in mid-September." And, while air freight shipments had returned to normal, Greenspan said airlines, hotels and restaurants in tourist areas were reporting that business was GREENSPAN, PAGE 10D Bill Richardson 1 "wanted to remain engaged in thp community." in lifting Key to a strong position among banks in Rochester. Cleveland-based Key is one of the nation's top 15 banks, with assets of about $86 billion. But Key ranked seventh in deposits in Monroe County with only a 2.5 percent share of the market in June 2000, according to the Federal Deposit Insurance Corp.

"There's a lot of upside because of our small market share here and our relatively small penetration," Richardson said. "We're a relative newcomer. We don't have the extensive retail network that some of our competitors do, so we need to be more nimble and responsive. I think we can be effective. It's not just a bigness game," he said.

Richardson left Chase Manhattan as retail executive, the No. 2 position in Rochester. The Pittsford resident is a member of the boards of directors of the University of Rochester Medical Center, the United Way of Greater Rochester and the Eastman Dental Center Foundation. 75 A' XT 'i--jrvf -Til It became a leading supplier of the devices used mainly in automobiles, selling more than 300 million of them and generating upward of $1 billion in sales. Corning is now investing heavily in a swelling market for catalytic-converter components used in trucks, buses and other diesel engines.

That business could be worth $1.5 billion worldwide by 2008, it said. Construction was set to begin next spring. The factory will be built in about 1 V2 years in Erwin, a rural tional Academy of Television Arts Sciences were presented Tuesday night in New York City. Kodak's award for image sensors goes back to research and development begun in the mid-1970s. The company figured out a way to integrate color filters with the charge-coupled devices that collect light and process images inside a camcorder.

Until the breakthrough, camcorders relied on clunkier, more expensive technologies such as prism beam splitters that separated light into its components. By reducing that step to a single electronic device, Kodak helped create the era of the compact camcorder, said Christopher McNiffe, a Kodak spokes THE ASSOCIATED PRESS Corning Inc. is building a $200 million factory in Steuben County to make smog-busting components used in diesel-engine catalytic converters and expects to create 250 jobs within five years, the company announced yesterday. In the 1970s, the company invented a ceramic honeycomb that helps convert pollutants streaming through automotive exhaust systems into water vapor and carbon dioxide. Retired banker to lead Key here Kodak takes home two Emmys 1 EL 1 Gannett News Service Corp.

in Greece and Tropel Corp. in Fairport, which were unaffected by layoffs. Late this month, the world's biggest manufacturer of optical fiber used in communications networks plans to shut down most operations at its five optical-fiber plants worldwide. Production will not resume until business conditions improve, possibly early next year. Coming's global payroll peaked at 43,000 in February and will drop to around 30,000 by year's end.

Of its $7.1 billion in revenues last year, about three-quarters came from sales of optical networking products. cause film produces higher-quality images but has had to be "sped up" to fit the requirements of television. That process led to "noise" when programs went out over the air. The new standard will eliminate that noise and lead to dramatically better images, particularly when digital television becomes more common, said Ken Parulski, a senior research associate at Kodak. The company was recognized for helping define the standard and selling it to the industry.

"We said, 'Look, there's a reason to do and some years later people recognized this was a good thing to do," said Mark Gaul, worldwide marketing manager for television at Kodak. lifestyles of new mothers in balancing work and child-rearing activities," said Census Bureau analyst Martin O'Connell. More pressure may be put on women now to find work soon after giving birth because of recent layoffs and the economic unrest, said Diane Caisse, who leads a working mothers support group suburban Washington, D.C. The figures were part of a larger report on fertility; therefore, there were no statistics on fathers, 2 town adjacent to Corning. "As global demand increases for stricter regulation of emissions, Corning is committed to helping diesel vehicle manufacturers meet these tighter standards," chief executive John Loose said.

The announcement comes as Corning struggles with a sharp slowdown in the telecommunications industry. It eliminated 8,000 jobs earlier this year and, on Oct. 3, said an extra 4,000 jobs would be cut. The company laid off several workers at a photonics plant in Henrietta built only a year ago. It also owns Rochester Photonics man.

The color image sensors are also in digital cameras, flatbed scanners and other devices. "It really stimulated the consumer camcorder market. People got very high-quality products at a low price," McNiffe said. Kodak shared the Emmy with Hitachi, JVC, Matsushita and Sony, which contributed other advances to the process of converting light into color digital images. Kodak's other Emmy stems from work to prepare broadcasters for high-definition or digital TV.

Kodak helped create and promote a standard that would more efficiently resolve technical differences between videotape and movie film. The issue is critical be their career path to care for children at home. Groups that did see an increase in mothers who returned to work within a year after giving birth include black people, Asians and women who were not high school graduates. Left unclear is how recent the recent economic slide will affect that flexibility. "Whether the declines are short-lived or will continue depends to a considerable extent on changes in the economy and changes in the BY STAFF WRITER BEN RAND Eastman Kodak Co.

has something that TV stars Andre Braugher. Calista Flockhart, David Letterman and countless others want badly: a 2001 Emmy. Rochester lareest em ployer took home two of the prestigious trophies this week for pioneering work on improving the quality of motion pictures and videos played on TV sets. The comDanv was recoe- i nized for developing color image sensors found in compact camcorders and other devices and for creat ing and promoting a key tecnnical standard tor digital television. The awards from the Na More new THE ASSOCIATED PRESS WASHINGTON More women are staying home with their infants for at least a year before returning to work.

Of the 3.9 million women age 15 to 44 who had babies between July 1999 and June 2000, about 55 percent returned to work, or were actively seeking work within a year of giving birth, the Census Bureau reported. That was down from a record high of 59 percent the last time the survey BY STAFF WRITER FRANK BILOVSKY Retirement wasn't for Bill Richardson. Richardson stepped down almost two years ago at Chase Manhattan Bank after a three-decade career. On Monday, he will take over as president of Key-Corp's Rochester district. "I just decided that I have a lot of good mileage left and that 55 was really too early to retire," Richardson said.

"As appealing as it sounded from the other side of the fence, after a year and a half I concluded I really wanted to remain engaged in the business community." He also figured out one more thing: "It's a myth about your (golf) handicap going down if you play more." Richardson replaces Philip DiPofi, who left the KeyCorp position recently to take a job in Denver. "We are extremely fortunate to have someone of Bill's caliber take the helm at Key in Rochester," said KeyBank Vice Chairman Robert E. Smyth. "He is a talented banker who knows the market well and has a proven track record in the Rochester banking community. We look forward to his strong leadership." Richardson, a Syracuse native who has spent most of his banking career in Rochester, faces a challenge moms delaying return to work was conducted, in 1998.

The declines came mainly among white women, mothers older than 30, married women and those with higher levels of education characteristics of women who tend to live in families that make more money. Still, for more of these women, it was a lifestyle choice rather than an economic one, said Catherine Car-bone Rogers, spokeswoman for Mothers More, an organization for women who have altered.