Welcome to the business page, a blog where I'll take you behind the scenes of greater Rochester's fast-changing economy. My name is Ben Rand, and I intend to introduce you to some of the personalities, concepts and events that make news in business here. I've been a business reporter for eight years in Rochester and a journalist for 18, working in four states. I grew up in Pittsford, but moved away after college for about a decade. My wife and I live in Irondequoit with our two children.
Some stuff to read at the onset of a hot weekend:
- So you think it's a coincidence that your doctor is prescribing this drug or that drug? Maybe not. Here's a pretty interesting look at how pharmaceutical companies do business. (NY Times.)
- He didn't get to where he is without setting high goals. But Renault's Carlos Ghosn seems to have an unrealistic bar for any alliance with General Motors, such as rewards exceeding risks by 10 times. (Detroit Free-Press.)
- The struggle between Wal-Mart and the city of Chicago could be on the verge of spreading, according to analysts. (chicago Sun-Times.)
- The annual rankings of brand strength are on the newsstand, courtesy of Business Week. Eastman Kodak's brand took another hit. It was valued at $4.4 billion, down from $4.9 billion a year earlier. Kodak is ranked No. 70 on the list of the 100 top global brands. Xerox's brand, however, grew in value by 4 percent to $5.9 billion. (Business Week.)
- Easy to beat up on Exxon for its profits. But it's not the only oil company reaping a windfall, according to this Associated Press story. (Via the Houston Chronicle.)