1. DemocratandChronicle.com Saturday, February 9, 2013 Page 5B
Len LaCara Business Editor (585) 258-2416
llacara@democratandchronicle.com
Len LaCara
Market Watch
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Company asks in on suit
Stocks of local interest, 6B Constellation wants to support beer merger in federal court
Tom Schoenberg based Constellation would end up with defendant in the lawsuit. Constellation
Bloomberg News Modelo’s stake in the distributor, Crown and Crown would get to argue for their
Local stock highlight Imports LLC, along with a 10-year distri- own stake in the deal if the judge allows
Constellation Brands Inc. asked a bution deal. them to intervene in the case.
Rochester renewable energy ser- federal judge to allow it to intervene in “The acquisition of Modelo’s 50 per- AB InBev, which is based in Leuven,
vices company Arista Power Inc., to the U.S. lawsuit seeking to block An- cent interest in Crown is a transforma- Belgium, asked U.S. District Judge
make good on its rent, is handing the heuser-Busch InBev NV’s bid to buy tional transaction for Constellation’s Richard Roberts in its own filing today
landlord a large stack of stock. Grupo Modelo SAB in order to protect beer business,” Margaret Warner, a law- to let the companies join the case. The
In a U.S. Securities and Exchange its interests in the litigation. yer for Constellation and Crown, said in Justice Department opposes the move,
Commission filing Friday, Arista said Constellation, which jointly owns a the filing. “The transaction will double according to the filing by Constellation
it had given the owner of its 1999 U.S. beer distribution company with Constellation’s participation in the and Crown.
Mount Read Blvd. building 390,000 Modelo, said it should be allowed to beers business.” In a separate filing, the Justice De-
shares to settle up on rent and to cov- make arguments in the lawsuit backing Constellation, which said it had been partment and AB InBev asked Roberts
er it through the end of November. the AB InBev deal, according to a court part of negotiations with the Justice De- to schedule a Feb. 15 hearing to set a
The landlord also received a warrant, filing today in Washington. If the $20.1 partment before the government’s anti- schedule for how the case should pro-
guaranteeing the ability to purchase billion acquisition is approved, Victor- trust case was filed, wasn’t named as a ceed.
another 600,000 shares at a guaran-
teed price of $1 each. The warrant
expires in February 2014.
Arista Power shares closed Friday
at $1.20, up 6 cents or slightly more
than 5 percent for the day.
— Matthew Daneman, staff writer
TV costs
At a Glance
ticking
Cabot Group to help lease
portion of Seneca Building
The Cabot Group is now one of the
upward
leasing agents for new office space at
the former Midtown Plaza location in TWC, DirectTV, Dish
downtown Rochester.
The Rochester property and asset
all see price increases
management group has signed a con-
tract with the Pike Development Co. Matthew Daneman
to lease 30,000 square feet of office Staff writer
space on the top floor of the Seneca
Building. The goal is to attract local The joys of watching MTV hillbil-
businesses specializing in things like ly reality show Buckwild or IFC’s
law, marketing, engineering and ac- People mill in Eastman Kodak Co.’s booth at Drupa, the massive commercial printing sublime sketch comedy show Port-
counting, The Cabot Group said. trade show and exhibition held every four years in Germany. Print industry companies landia are about to hit you a little
Windstream Corp. plans to locate like Kodak and Xerox Corp. are decreasingly using trade shows as a means of harder in the pocketbook.
335 employees on the Seneca Build- marketing their products and services. PHOTO PROVIDED BY KODAK Many Time Warner Cable sub-
ing’s first two floors and is expected scribers in western New York will
PRINT TRADE
to move in around July 1. see their cable bills in March in-
“We understand how important a crease an average of 2.6 percent, said
revitalized midtown is to the growth spokeswoman Joli Plucknette-Far-
of our city, and we look forward to men.
playing a role in that revitalization,” However, customers already in
said J. Michael Smith, chairman and set pricing or promotional plans will
CEO of The Cabot Group.
Gillibrand in Henrietta
Monday to stump for bill
U.S. Senator Kirsten Gillibrand will
SHOWS FADE be unaffected by the increase.
“The new prices reflect dramat-
ically higher costs charged by pro-
grammers — especially for local
broadcast channels and sports pro-
gramming,” she said. “Programming
be at Henrietta’s Rochester Precision costs represent about 40 cents of ev-
Optics on Monday to push her Made in
America Manufacturing Act.
Kodak, Xerox join trend to skip ery dollar a customer spends on Time
Warner Cable TV services. In recent
The bill, authored by Gillibrand, Matthew Daneman years, the cost of cable programming
D-N.Y., and introduced to the Senate Staff writer GO DEEPER ON DIGITAL has grown at double the pace of the
in January, would have the federal price of our TV services.”
government set up a “Made in Amer- The International Printing Machin- For a video on how Eastman Kodak Co. is Meanwhile, subscribers to cable’s
ica Incentive Grant Program,” with ery and Allied Trades Exhibition, held cutting back attendance at trade shows, satellite competitors can’t sit smugly
states able to use that money for such every four years in England, is a huge click on this story at Democratand back in their easy chairs.
efforts as a revolving loan fund to deal in the commercial printing world. Chronicle.com. As of this week, DirecTV hiked
help manufacturers pay for major Eastman Kodak Co. used IPEX 2010 rates for many of its packages and
investments such as retooling or ex- to debut its Prosper 5000XL digital ink- services. Like Time Warner Cable,
pansions; or employee retraining for jet printing press — a key to the compa- vice president of global experiential the rate hikes didn’t hit people in pro-
manufacturers. ny’s successful turnaround. And Xerox marketing. “The efficient way to do motional offers. But in general, ac-
Gillibrand currently has six co- Corp.’s Barnes & Noble store-sized dis- that might not be trade shows.” cording to DirecTV, customers saw
sponsors, all Democrats. play area at IPEX 2010 was packed with Trade shows have long been one of their bills increase 4.5 percent.
Her stop in Henrietta to drum up some of the company’s latest gear, in- the few places where buyers of big ex- Dish Network in January also
publicity for the bill will be at 12:30 cluding a Webster-made iGen4 digital pensive printing presses or other big- raised its prices on its core packages
p.m. printing press, a DocuColor 8002 digi- ticket offerings could compare differ- — its first price hike in two years. Ac-
tal printing press and a demo of Xerox’s ent products side by side. cording to Dish, the cost of its core
Talman Building recovers own production inkjet technology be- But more information is accessible English programming packages
from recent flood ing developed. online, which has led to less of an em- went up $5, while subscribers with
But when IPEX 2014 rolls around in phasis on taking equipment to shows older DVRs saw their DVR fees in-
Commercial life is largely back to about a year, Kodak won’t be there. Nor and more emphasis on bringing cus- crease by $1.
normal in downtown Rochester’s Tal- will it be at Print 13 in Chicago this fall. tomers to one of Kodak’s demonstra- And like TWC, DirecTV and Dish
man Building after a broken sprinkler Also not attending IPEX 2014 are Xe- tion centers in Rochester or elsehwere, pointed at programmers raising what
pipe left several inches of standing rox, Hewlett-Packard Corp. and others. said Christopher Payne, Kodak vice they charge, with those program-
water there on Jan. 31. A growing number of companies in president of business-to-business mar- ming expenses going up “well above
The break on the third floor flood- the commercial printing world are dial- keting. the rate of inflation,” Dish spokes-
ed the second-floor offices of Cross- ing down use of trade shows as part of The shift for Kodak far predates the man John Hall said.
roads Abstract Corp., a real estate their marketing efforts. “The idea is, company’s current bankruptcy and
search and abstract and title insur- we have to reach our customers in dif- MDANEMAN@DemocratandChronicle.com
ance services firm. ferent ways,” said Jon Levine, Xerox See TRADE, Page 6B Twitter/mdaneman
According to Crossroads, though
the flooding swamped more than half
of Crossroads’ space, the company
resumed work the day after the flood-
ing when power was restored to the
building, though it continues to dry
out parts of its offices with fans. And
Gas prices head even higher
according to Crossroads, the abstracts Staff and wire reports Still, drivers across the country can’t
and title files stored there were not hit catch a break at the pump. The average
by the flood waters. Hope you got a 2.5 percent pay raise price for a gallon of gas rose a penny to
The building at 25 E. Main St. also in the past week. Because you’ll need it $3.57. That’s up 27 cents from a month
houses a KeyBank branch, which is to keep your car going. ago and 8 cents more than last year at
open, and a number of law offices on The average price of a gallon of reg- this time.
the upper floors. ular gas was roughly $3.85 in the Roch- Drivers in New York who were filling
ester region on Friday, according to up ahead of a massive blizzard that be-
AAA data. That’s roughly 2.5 percent gan to dump several inches across the
more expensive than it was just a week state faced an average pump price of
ago, and up 4 percent over the $3.70 av- $3.92 a gallon.
Key Indicators erage gas price the region saw just a However, demand for gasoline
month ago. should drop, supplies should rise and
2 T-note, 10-year yield, 1.95%, down 0.01. Other upstate cities are feeling simi- prices in the region should drop a bit,
lar woes, according to AAA figures, said Tom Kloza, chief oil analyst for Oil
2 Euro vs. dollar, down 0.0038 to $1.3363.
with a gallon of regular gas averaging Price Information Service. plies, Kloza says.
2 Gold, down $2.40 to $1,668.20. $3.86 in Syracuse — up about 5 percent “The simple impact (these storms) The storm could bring a break in gas-
from a month ago — and a gallon of reg- have is that they destroy demand for a oline prices after a steady march up-
2 Oil, light, sweet crude for March delivery, down 5 ular averaging $3.88 in Buffalo. period of time,” Kloza said. ward in recent weeks. Kloza thinks that
cents to $95.78. On Friday, crude oil traded above $96 The brunt of the storm is not expect- later in February and in March prices
a barrel after reports showed better- ed to hit refineries around New York will rise as they do most years, but per-
than-expected trade data in China and and Philadelphia the way that Super- haps not as fast, because prices have al-
the U.S. trade deficit shrank in Decem- storm Sandy did, so no supply disrup- ready climbed so high.
ber to the lowest point in three years. tions are expected. If New England “We were in an uptrend but clearly it
News Tips Both pointed to a stronger global ports get snowed in for a few days, it was too brisk,” he said. “The market bor-
Call (585) 258-2416 or (800) 767-7539 from economy and more demand for oil, could delay shipments of gasoline by rowed some of the increases that usual-
outside Monroe County. which settled at less than $96 a barrel. barge, which could lead to reduced sup- ly come in February and March.”