In The News
Li-Cycle’s ‘ugly’ annual report shows uncertain future for Rochester Hub
Published on March 18, 2024903 views
The tardy annual report filed Friday afternoon by Li-Cycle Holdings Corp. highlights continuing significant losses and calls into question whether construction ever will resume on the Rochester Hub. While leaders for the financially troubled company publicly expressed optimism last week that a solution for the once-ballyhooed Rochester Hub can be found, the annual report painted a more guarded picture of the project that has a price tag of between $850 million and $1 billion. “The future hasn’t gotten any brighter,” said George Conboy, chairman of the board at Brighton Securities. “Nothing about the stand-alone Li-Cycle business looks economically viable right now.”
Li-Cycle posts $138M loss as outlook dims for Rochester hub
Published on March 18, 20241136 views
In its latest filing, posted after markets closed Friday, Li-Cycle offered no definitive statement about the project. Officials initially were steadfast in their commitment. But when referring in this filing, as they had previously, to their “inability to develop the Rochester hub,” added: “as anticipated, or at all.” Senate Majority Leader Chuck Schumer, D-NY, greets Li-Cycle President and CEO Ajay Kochhar before the announcement Monday, Feb. 27, 2023, of a $375 million federal loan commitment that promised to help push the company's expected workforce to 270 come next year. The loan has yet to be released. Senate Majority Leader Chuck Schumer, D-NY, greets Li-Cycle President and CEO Ajay Kochhar before the announcement Monday, Feb. 27, 2023, of a $375 million federal loan commitment that promised to help push the company's expected workforce to 270 come next year. The loan has yet to be released. “I think that that's them introducing the idea that they're not going to come back to the Rochester hub,” said Ethan Wade, senior vice president and chief development officer at Brighton Securities. “They have to start kind of breaking it lightly to the market.” Li-Cycle, thought a spokesman, did not address the change in wording but maintained the "priority is to re-start construction and develop the Rochester Hub."
Brighton Securities celebrates milestone 55th Anniversary
Published on March 5, 2024882 views
“For over five decades, Brighton Securities has continually flourished, propelled by our unwavering commitment to nurturing client relationships and fostering team development,” said Melissa Hawryschuk, Brighton Securities’ CEO. “Through a dynamic training initiative, we’ve cultivated a culture where aspirations are not just met but exceeded, empowering both our clients and team members to thrive and reach new heights of success.” Added George Conboy, Brighton Securities’ chairman, “Our firm’s growth since 1969 is a result of our team’s dedication to client satisfaction and employee well-being. With a focus on collaboration and mutual respect, we have grown our business and contributed to the prosperity of Western NY. I’m proud of our team members establishing significant careers – and roots in our hometown.”
RBJ presents the 2024 Power 100
Published on February 9, 2024983 views
We are excited to continue our Power List project with our fourth annual Power 100 list. Many people who appeared on this list last year are still significant power players in our region and appear here again. But there are several new faces, and we expect to see those additions continue to make a big impact on our community. As with last year, the mix of industries represented is no surprise. The health care industry and the nonprofit sector, which are heavily intertwined in Rochester, have faced significant challenges over the past four years and many leaders from these areas appear on this list. Banking and finance, education, law, manufacturing, technology, and real estate and construction also have a significant presence here and in our local economy.
George T Conboy Named to RBJ Power 100
Published on February 9, 2024807 views
Read more about what George Conboy, Chairman, has to say about the RBJ Power 100 and Brighton Securities
Concerns rising for future of Rochester hub project after Li-Cycle shares financial report
Published on November 16, 20231044 views
Li-Cycle does not have a timeline for when construction would resume, and the financial update has one financial expert doubting if it ever will. "Unfortunately, the sales and expenses are so far out of whack that without a dramatic restructuring of payroll, cutting operations or some other very lucky break, the company is not likely to stay in business, let alone complete the Rochester hub," said George Conboy, chairman of Brighton Securities.
Brighton Securities Expands in Batavia
Published on August 6, 20223315 views
NEW TEAM: Batavia Branch forms wealth management team. BATAVIA: Rochester- Based Brighton Securities has created a wealth management team that will be based in the financial service's firm's Batavia Branch. The Hicks Wealth Management team, lead by Steve hicks, a senior vice president and branch manager, will serve clients in the four-county GLOW region of Genesee, Livingston, Orleans and Wyoming counties and also in Buffalo and Rochester.
Steve Hicks of Albion forms wealth management team for Brighton Securities
Published on August 5, 20222409 views
BATAVIA – Brighton Securities, a Rochester-based financial services firm, today announced the formation of The Hicks Wealth Management team at Brighton Securities.
Financial analyst answers the question: Are we in a recession?
Published on July 30, 20222331 views
As expected, we learned this week the U.S. economy shrunk in the second financial quarter, marking consecutive quarters of negative growth in gross domestic product, or GDP, which has been the traditional definition of a recession. But the Biden administration spent the week refusing to use that word, instead pointing strong jobs numbers and a low unemployment rate. For more on the overall financial picture, we're joined by financial analyst and adviser George Conboy of Brighton Securities in the Rochester area.
Will the economy get worse before it gets better? Brighton Securities chairman weighs in
Published on July 13, 20222288 views
Many blame the dramatic increase in the cost of fuel. “A big cause is fuel costs,” said economy and finance professional and chairman of Brighton Securities George Conboy. “But that's not the only cause. If we look at the classic definition of inflation, it's too much money chasing too few goods.” Conboy recognizes that many people across the state and around the country are feeling the effects of the worsening economy on a daily basis. Families are being forced to make major adjustments in their budgets to simply put dinner on the table.
Food prices could jump over 10% as inflation continues
Published on July 7, 20222384 views
It’s a global problem being felt in everyone’s pocketbook here at home: inflation, with some experts saying it doesn’t show any signs of letting up. George Conboy with Brighton Securities said big food companies, like General Mills, are predicting food prices will be up over 10% for 2022. Conboy explained some outside factors that come into that. “One of the biggest components of inflation in food prices is energy costs,” he said.
Got old paperwork? Shred it and forget it on Shred Day
Published on May 25, 20222386 views
A lot of small businesses take advantage of the service, though individuals are also welcome to bring in what they have, he said. With the prevalence of identification thefts, data leaks and various scams, he has observed a hesitancy to dump one’s confidential papers. “I’ve noticed more of an increase, and people with sensitivity, in getting rid of them,” Steve Hicks, Branch Manager said. “People are more sensitive to it.”
A simple game for investors: How would you play?
Published on April 22, 20222351 views
Some years ago, financial author and advisor, Bill Schultheis, devised a simple game to illustrate the difficulty faced by investors who try to outguess the stock market and the utility of knowing the odds of success. The game called “Outfoxing the Box” is discussed in his book, The Coffee House Investor. (Hat tip to Larry ...
Businesses feel impact of people choosing to fill up tanks over non-essential services
Published on March 9, 20222448 views
The rise in gas prices is hurting more than just wallets. Small businesses are seeing the impacts of people choosing to fill up their tanks over spending money on non-essential services. When prices on things like fuel increase, George Conboy from Brighton Securities say non-essential expenses get cut, and people get creative.
WNY financial expert says gas prices could keep rising for months
Published on March 8, 20222398 views
George Conboy, the Chairman at Brighton Securities, says, “It would not surprise us to see gasoline prices north of $5 and even $5.50 before the year is out unless something dramatic changes in the next several months.”
I Bonds: A rare bright spot for the income investor
Published on February 17, 20222319 views
Investors have a natural affinity for income-producing investments. A steady stream of investment income is comforting even if it is not optimal from a total return perspective. Many investors, especially retirees, would gladly trade away some of the anxiety induced by watching a volatile stock market for the psychological comfort from receiving a secure stream ...
US hits $30T in debt, local experts say worry comes down to future interest
Published on February 7, 20222487 views
“I’m more concerned about the total amount of debt — can we make the payments, and what are interest rates going to do over the next few years to the federal government’s ability to keep up with that debt? Those are real concerns — but it’s not the end of the world,” says Conboy.
Xerox cuts healthcare benefits for some retirees
Published on January 24, 20222443 views
"So going forward, these retirees will have the choice of either dealing with those extras out of pocket, or seeing if they can get what we call a medi-gap plan that covers the gaps in Medicare that Xerox had been covering for many of these folks," said George Conboy, Chairman of Brighton Securities.
The governor's budget has tax cuts, money for potholes but nothing on a new Bills stadium
Published on January 18, 20222314 views
George Conboy from Brighton Securities worked out the numbers and here's what he came up with. "For a family with an income of $40,000, the tax cuts equal $160. An income of $100,000 equals $430. For $200,000 in income, the cut jumps to $850 a year."
Local financial expert, college students on student loan moratorium
Published on December 22, 20212306 views
Brighton Securities Chairman George Conboy said the moratorium, or pause is not loan forgiveness. This will eventually end. He shared this piece of financial advice on what to do with those extra dollars. "Put into a savings, or other kinds of accumulation account where you can have that money available either to pay that down or pay down some other debt," Conboy said. "That way you're paying yourself first and you'll be better off." Conboy said taxpayers will be on the hook for the zero percent interest that's being forgiven. We'll see it either in higher taxes, or higher deficit.
RBJ’s Power 30 Banking & Finance
Published on December 17, 20212635 views
Congratulations to Doug Hendee, Chief Sales Officer who was named to the RBJ’s Power 30 Banking & Finance for 2021! The Rochester Business Journal’s inaugural Power List program continues this week with our Power 30 Banking & Finance. The list includes individuals who have spent the past 20 months helping members of the Rochester community navigate increasingly uncertain financial circumstances.
Experts: ‘The 60/40 portfolio is dead’
Published on December 14, 20212349 views
A good rule in life is to question any statement that begins with, “experts say.” Sometimes the “experts” truly are expert in their field, but that doesn’t mean that they are right. Sometimes they are anonymous, which calls into question their reliability.
Banking industry veteran Hawryschuk named CEO of Brighton Securities
Published on December 10, 20212465 views
Brighton Securities Corp. has named Melissa Hawryschuk CEO and member of its board of directors, effective Dec. 13. “The company has had great success over the years and there is a solid leadership team in place that should be credited with that success,” Hawryschuk said. “I am hoping to help them build on the strong foundation that they have put in place and build on the rich history of Brighton Securities.” The industry is no different than many others who are facing many of the same challenges, she said. The biggest being the competition for talent. It is a challenge she believes will continue to grow. She noted the success of a financial services business relies heavily on strong client and employee relationships, something that is especially true today after nearly two years of uncertainty due to the pandemic. Keeping those trusted relationships is crucial, she said. To meet the challenge, Hawryschuk said Brighton Securities must be ready to demonstrate the value it can bring to current and new associates, with the focus on building a strong, diverse and inclusive team.
Investment expert weighs in after omicron variant rattles markets
Published on December 2, 20212264 views
"Inflation will chew up your paycheck - will eviscerate your social security payments, and if we maintain high rates of inflation for any period of time, interest rates will go higher," says Conboy. "You'll pay more to buy a home, you'll pay more to buy a car, you'll pay more to buy a home and appliances. and those are impacts on our economy that investors are very concerned about."
Brighton Securities Named Among 2021 Greater Rochester Chamber Top 100
Published on November 4, 20212985 views
We are very proud to come in at #60 on our second time joining the Greater Rochester Chamber of Commerce for their 2021 Rochester Top 100 35th Annual List of Fastest-growing Privately Held Businesses! Thank you to all our employees and clients who helped make this happen! Congratulations to all our fellow #ROCTop100 recipients!
The disconnect between economic growth and stock returns
Published on October 8, 20212228 views
Conventional thinking says that higher rates of economic growth will lead to higher stock returns for investors. Conventional thinking is wrong. Although the connection between economic growth and stock returns might seem intuitive and obvious, there is not necessarily a direct correlation. Investors who make allocation decisions based on this shaky premise may be disappointed.
Brighton Securities unveils rebrand
Published on September 23, 20212210 views
Brighton Securities Corp., an employee-owned financial services firm, has rebranded, believing the new one-letter logo perfectly reflects the company's goals, stature and commitment.
Curing investors’ fixation on past performance
Published on August 20, 20212201 views
The most often repeated warning to investors is perhaps the most ignored: “Past performance is no guarantee of future results.” As a group, however, investors continue to act as if it did. Jason Zweig, the investment columnist for The Wall Street Journal, recently wrote about investors’ inability to kick what he calls the “past performance habit.”
Batavia Concert Band returns to Centennial Park
Published on June 24, 20212492 views
The Batavia Concert Band performed its first concert of the 2021 season last evening in Centennial Park. The public is encouraged to attend the free concerts at 7 p.m. every Wednesday through Aug. 4 in Centennial Park, located at 151 State St. in the city. These concerts are "made completely possible through local funding." July 28th -- In memory of John Arent by his family as Gold Sponsors, made possible by GCASA and Brighton Securities as Bronze Sponsors
Federal student loan rates to go up next school year
Published on June 4, 20212385 views
Financial expert George Conboy with Brighton Securities says the cost of federal loans is going up because interest rates are rising. Conboy did say however, federal loans are still cheaper than private loans for college. He says this is just one more cost students will have to pay down the line. Simply put, he says ‘the cost of money is going up’.
Congrats to inaugural Rochester Top Workplaces diversity, equity and inclusion honorees
Published on March 25, 20212602 views
And here are the first-ever Diversity, Equity and Inclusion award winners for Rochester Top Workplaces. Each of these organizations have extensive policies on hiring, promotions, retention, training and pay, as well as other noteworthy initiatives: Brighton Securities: Brighton Securities offers apprenticeship opportunities to under-represented and marginalized individuals in local communities.
2021 Rochester Top Workplaces: Complete ranked list of all 60 winners
Published on March 25, 20212629 views
2021 Rochester Top Workplaces: Complete ranked list of all 60 winners
RBJ’s Power 100 List 2021
Published on February 26, 20212856 views
George T. Conboy named to RBJ's Power 100 List for 2021.
Understanding Gamestop's stock situation impact for investors
Published on January 28, 20212488 views
Gamestop's meteoric - and unexpected - rise in stock value has created controversy for some - and benefitted small investors for now. It can be a confusing situation, but George Conboy of Brighton Securities joins Good Day Rochester to walk you through what happened and what it means for investors - small and large alike.
Brighton Securities Chairman breaks down wild week on Wall Street
Published on January 28, 20212419 views
Brighton Securities Chairman George Conboy says hedge fund managers have been using this situation to buy GameStop shares and selling them short. "What that means in plain English, they sold the shares," Conboy said. "They didn't even own them. They borrowed shares of GameStop, sold them, and then hoped to see GameStop shares decline in price, and buy the shares back really cheap, and give them to who they borrowed them from."
Proposal to legalize marijuana in NY sends stocks soaring for Rochester company
Published on January 7, 20212612 views
We’re seeing more states legalizing, we’re seeing Constellation able to revalue their investment higher, and that translated into higher earnings for Constellation, and a higher stock price.” Conboy says a legalization like this wouldn’t necessarily mean everyone prospers from it. With any new business in the market, there’s going to be competition. But with that in mind, he says Constellation Brands has the experience for it, and they’d certainly have a leg up.
What the federal COVID bill will mean for Rochester businesses, consumers
Published on December 28, 20202474 views
“With nearly a third, closer to a quarter, of this new stimulus bill being allocated to refunding that PPP plan, that should help those small businesses,” said George Conboy with Monroe Avenue-based Brighton Securities. Conboy, in an interview with News 8, explained the bill’s provisions and highlighted certain industries standing to benefit from the legislation. “I think there are a lot of businesses that really need that, many small businesses, particularly businesses that rely on hospitality like I said, restaurants, bars, event spaces,” Conboy said.
Will Kodak Pharma Deal Proceed Now That Company Cleared of Wrongdoing?
Published on December 7, 20202566 views
Time will tell whether the loan will happen," said Conboy. "Time will tell whether Kodak can do this. And time will tell whether investors have made a smart bet by buying those shares. Way too early to know today."
Brighton Securities Named Among 2020 Greater Rochester Chamber Top 100
Published on November 5, 20202691 views
We are very proud to come in at #73 on our first time joining the Greater Rochester Chamber of Commerce for their 2020 Rochester Top 100 34th Annual List of Fastest-growing Privately Held Businesses! Thank you to all of our employees and clients who helped make this happen! Congratulations to all our fellow #ROCTop100 recipients!
Xerox earnings impacted by COVID-19, but show improvement from earlier this year
Published on October 27, 20203160 views
Brighton Securities Chairman George Conboy said the company has seen good improvement from a few months ago. “But compare it with earlier this year, what a snap-back. Profits are back up, sales are back up; back up from the worst of the pandemic and management’s doing a good job managing through a very difficult business environment,” Conboy said.
U.S. Puts Kodak Deal On Hold Amid Scrutiny Of Its Finances
Published on August 12, 20203652 views
George Conboy, a financial analyst based in Kodak's hometown of Rochester, N.Y., said Kodak could never convince a bank to loan the company anything close to what the government was considering. He points to a smaller, $100 million loan Kodak secured last year from a private equity group at a higher interest rate – that also involved giving up a large stake in the company. "You would not borrow money on those terms unless you couldn't get someone else to lend it to you more attractively," said Conboy, chairman of Brighton Securities. "You don't go to the loan shark if you can borrow on your home-equity loan."
2020 Rochester Chamber Top 100
Published on August 11, 20202917 views
Brighton Securities is proud to announce that it has been named as one of the 2020 Greater Rochester Chamber of Commerce Top 100 fastest growing privately owned companies in the Greater Rochester region! These rankings and awards are based on our historical performance, and are a testament to the hard work our entire team has put forth. To view the alphabetic list of companies, use the link below.
DFC says Kodak deal on hold
Published on August 8, 20202810 views
"It’s unlikely senior executives engaged in insider trading. But, it doesn’t seem unreasonable to find out for sure and if this deal can’t close until we know for sure, then the real question becomes, 'How long will it take to know?,'" said George Conboy, chairman of Brighton Securities.
Bausch Health to Spin Off Bausch & Lomb Into Separate Company
Published on August 6, 20203833 views
Financial analyst George Conboy from Brighton Securities talked about what the news could mean for the Rochester area. "The most hoped for impact for Rochester is that Bausch and Lomb's headquarters could return to our area. Back when Valient, now Bausch Health, bought Bausch and Lomb, they moved their headquarters to Montreal. If the headquarters comes back that would be an important step in seeing an independent Bausch and Lomb in Rochester," said Conboy.
Kodak's 2,500% Rally Was Over in a Flash. What's Next for the 132-Year-Old Brand?
Published on July 31, 20202839 views
George Conboy, Chairman of Brighton Securities based in Kodak’s hometown of Rochester, sees the company’s shares settling at $12 to $15 in the near term, based on potential sales of $400 million within a year. That would trim Kodak’s market cap to $500 million from nearly $1 billion currently. “I would say $12 to $15 is the fair value, closer than $12 when it’s up and running and that could take a year,” says Conboy.
Financial expert: Kodak CEO didn’t participate in insider trading if purchases were prescheduled
Published on July 30, 20202823 views
righton Securities chairman George Conboy said there’s one big question remaining: were these stocks prescheduled as part of a normal investment or were they a one-time purchase ahead of this big announcement for Kodak? “In most cases when senior corporate executives either buy or sell stock in their own company it’s typically done on a regular schedule where the corporate officer does not choose the date,” said Conboy.
3 Reasons To Avoid Kodak Stock
Published on July 29, 20203218 views
Kodak stock has popped a whopping 575% between July 17 and pre-market trade on July 29. The stock rose even more in morning trade on July 29 — soaring 16.4-fold since July 17 to $38. That upward move was sparked by July 28 news that the photography pioneer is borrowing money from the government to manufacture ingredients for generic drugs such as the malaria treatment hydroxychloroquine. One Rochester-based analyst saw a potential financial restructuring in Kodak’s future. George Conboy of Brighton Securities pointed out that Kodak had burned through $24 million in cash in the first quarter with about two years’ worth of cash remaining.
Kodak stock soars after this week's news on pharmaceutical production
Published on July 29, 20202789 views
George Conboy from Brighton Securities said it’s not a total surprise that Kodak stock is skyrocketing. "You’ve got investors hungry for good news, and this is certainly good news for Kodak," Conboy said. "Whether that news is good enough to sustain a rise this vertical is a real concern for investors".
When will we see the 360 jobs promised in the Kodak deal?
Published on July 29, 20202763 views
Shares jumped more than 300% Wednesday because of a new contract for Kodak to start making ingredients for generic drugs. News10NBC interviewed George Conboy of Brighton Securities about what that means.
Kodak’s nearby businesses hoping for rebirth after massive federal deal
Published on July 28, 20202733 views
“If we see Kodak successful at this, it will mean the whole photonics thing that state has pursued for years and generated zero jobs will be eclipsed by something that could be a big win for Monroe County,” said George Conboy with Brighton Securities.
Xerox sees sharp drop in quarterly profits and sales, but earnings top expectations
Published on July 28, 20202747 views
Brighton Securities Chairman George Conboy said Xerox, like a lot of large companies, is facing big challenges during this pandemic. “The specific challenge for Xerox will be if more people continue to work from home will you need the amount of documents on paper?" said Conboy. "The answer clearly seems to be, no you won’t.” Conboy said that while Xerox has the capability for handling remote documents and sharing documents electronically, that is a competitive business with small profit margins.
News of pharmaceutical deal sends Kodak stock soaring
Published on July 23, 20202854 views
"I haven't seen a jump like this in...I can't tell you the last time," Conboy said. In order to sustain the momentum it is currently seeing, Conboy said Kodak will need to get the loan disbursements, sell chemicals at competitive prices, and build out or refurbish the facilities that will be used to make the pharmaceutical drugs.
As millions await stimulus checks, experts provide advice on how to best use them
Published on April 9, 20203177 views
Those stimulus checks will be sent out to millions of Americans. Some will be in the amount of up to $1,200 per person, plus an additional $500 per child. Financial adviser George Conboy says it's crucial to make a list of bills that are most important and put the money towards that first.
COVID-19 uncertainties slam brakes on M&A activity
Published on April 7, 20203124 views
Companies are like people, says Brighton Securities Chairman George Conboy, whose firm serves as an M&A advisor to smaller business size buyers and sellers. A couple may be looking at a house, a car or some other high-price item but if the terms of the deal or their income changes, the likelihood that they are going to go ahead with that purchase is not very high, he explains. Lender banks don’t want to finance purchases either and stop lending. “It’s hard to get financing now because everyone wants to sit on their cash,” Conboy says. “Everything slows down because of that.”
Student Loan Relief During COVID-19 Pandemic; What it Means for Borrowers
Published on March 27, 20203144 views
George Conboy, Brighton Securities Chairman said, "This is all designed to get more money into the hand of, or keep more money in the hands of people who are paying students loans and who may have problems with loss of jobs, or loss of income, loss of employment, loss of daycare.” The measure issued by the federal government does not forgive your student loans, but it suspends some collection activities and suspends the accrual of interest for at least 60 days.
Rochester in Focus: Coronavirus concerns impact Wall Street
Published on March 22, 20203070 views
Brighton Securities Chairman George Conboy sat down with Lynette Adams to discuss what the coronavirus pandemic may mean for financial wellness.
News10NBC interviews financial expert about coronavirus impact
Published on March 17, 20203149 views
George Conboy, Chairman of Brighton Securities is answering questions about how to deal with the financial impacts of the COVID-19 outbreak.
Brighton Securities Announces Opening of Lockport, NY Office, and New Hires
Published on March 16, 20203332 views
Brighton Securities, a Rochester, NY based Financial Services firm, today announced that it has opened a new branch office location, located in Lockport, NY. This office opening coincides with the hiring of our newest financial advisors, Scott Huntington and Tonya Huntington.
Local expert shares tips after worst week for the stock market since 2008 financial crisis
Published on February 28, 20203114 views
"The coronavirus scare has really brought a panic to the financial markets, and while panic can drive people in the short term, beware of acting on panic if it doesn't meet your long term objective," George Conboy, Chairman of Brighton Securities said.
Financial advisers try to calm concerns after turbulent week for stocks
Published on February 28, 20203093 views
Chuck Wade of Brighton Securities says uncertainty can sometimes trigger a turbulent market. “There have been several viral outbreaks over the last 20 years,” said Wade. “There has been a short-term impact in the markets, on the economy, and then in time, things tend to recover.”
Ramachandran at Brighton Securities guides staff to rapid growth
Published on October 3, 20193654 views
At the ripe old age of 33, Jai Ramachandran stepped into his new role as CEO of Brighton Securities, leaving behind his career in Manhattan at Oppenheimer Cos., where he served as director of communications and cloud services investment. In the five years that have passed, Brighton Securities has doubled in size.
Rochester Business Journal has selected its 25th class of Forty Under 40 award winners
Published on September 13, 20194101 views
The Rochester Business Journal has selected its 25th class of Forty Under 40 award winners. The honorees are men and women, under the age of 40, who have achieved professional success and who have also made significant civic contributions to the community. Jai S. Ramachandran, CEO of Brighton Securities has been selected as a Forty Under 40 award winner.
Top Workplaces: How Brighton Securities made it to the top by listening to employees
Published on March 27, 20194239 views
Brighton Securities has its 50th anniversary to celebrate this year — and it will do it as the No. 1 small employer on the 2019 Top Workplaces list.
50 years in, Brighton Securities stays true to independence
Published on February 28, 20194163 views
For many in the Western New York market, being acquired is usually the end goal, said Doug Hendee, chief sales officer at Brighton Securities. You build up a reputation and then sell off once you hit a certain point. But that’s not the plan for Brighton Securities. Now entering its 50th year, the firm is proudly independent, and rather than being acquired, they seek becoming an acquirer.
Local businesses and consumers prepare for rising prices amid trade war with China
Published on July 6, 20184906 views
“The goal is to develop more American jobs by buying less from overseas and having it produced domestically. That’s a lot easier said than done,” said George Conboy, Chairman of Brighton Securities. Conboy says a trade war and tariffs is rarely good for consumers, and if it lasts more than a few months, it will hurt both the U.S. and China.
Legalizing recreational marijuana could mean more green for economy
Published on June 19, 20184944 views
Brighton Securities Financial Analyst George Conboy believes it could have the same impact here in New York. He said in the 2016-17 fiscal year, the state took in $500,000 on medical marijuana related products. “It seems likely, if recreational marijuana is legalized, tax revenue would rise markedly,” Conboy said. “My opinion of Albany is they love any source of revenue that can enable more spending.”
“By age 35, you should have twice your salary saved.” Is that realistic for millennials?
Published on May 25, 20185161 views
This hour, we discuss these stories, the financial landscape for millennials, and whether or not these perceptions ring true. In studio: - Sarah Jones, PR account executive with Dixon Schwabl - Matt Wagstaff, manager of new sales channels at BCBS - Chuck Wade, vice president and financial advisor for Brighton Securities
Brighton Chamber of Commerce to host awards luncheon
Published on May 21, 20185130 views
Brighton Securities is the recipient of the chamber’s 2018 Building Pride in Brighton Award. This award was established in 1993 to provide public recognition to a business that has improved the quality of life in Brighton through property enhancements or outstanding achievements.
Rochester's Top Workplaces 2018: The List
Published on March 28, 20185540 views
Here are Rochester's Top Workplaces for 2018. Click on the links to learn more about each. The winners were announced at an awards ceremony on March 28.
Brighton Securities Announces New Hires
Published on February 14, 20185540 views
Brighton Securities announces the following new hires: Raymond DeMonte Jr. as a financial advisor; Giavanna Garling as a financial advisor; Lori Alberts as a compliance manager; Jaemoy Grey as an investment banking analyst and Dianne Bell as an operations associate.
Xerox agrees to cede power to Fujifilm to form Fuji Xerox; 10,000 jobs to be cut
Published on January 31, 20186157 views
Under the deal, Xerox shareholders will receive a $2.5 billion special cash dividend, or approximately $9.80 per share. Xerox shareholders will hold a 49.9 percent stake in Xerox holdings. Fujifilm will hold a 50.1 percent dividend.
George Conboy of Brighton Securities weighs in on Xerox-Fujifilm deal
Published on January 31, 20185551 views
Wednesday morning on Good Day Rochester, George Conboy of Brighton Securities discussed what the new agreement could mean for Rochester. Conboy says the 10,000 job cuts include jobs from Fujifilm, not just Xerox.
Xerox at a crossroads as top investors push for big changes
Published on January 26, 20184735 views
While there are no guarantees, Icahn, the insurgent in this scenario, has a decent chance of rearranging the current board, said Brighton Securities Chairman George Conboy. “Xerox has been a vaporizer of shareholder value," said Conboy. "As a Xerox shareholder, I would be favorably inclined to hand the keys to somebody who might have a better chance of making me some money.”
Kodak joins the cryptocurrency craze
Published on January 10, 20185599 views
It doesn’t seem likely to me that introducing a photo linked crypto-coin will be a long term growth strategy for Kodak, but it is possible that use of blockchain technology could be a benefit for some photographers trying to ensure they get residuals for their photographs,” Conboy said. Conboy added that “blockchain technology that underlies crypto currency will have many legitimate uses in a number of industries. But the idea that any industries or specific companies will be able to make a profitable use of a specific created crypto currency, that’s a much harder leap to make.”
Kodak shares soar on news of cryptocurrency venture
Published on January 9, 20185598 views
"The real concern in the financial community is whether Kodak's senior management has come up with this idea as a way to boost the stock price and let short-term holders cash out," said George Conboy, chairman of Brighton Securities. Conboy says that analysts have been concerned for several quarters that Kodak's core businesses didn't seem to be taking the company in a positive direction. He's skeptical whether this cryptocurrency initiative represents a sustainable business.
Kodak launches its own cryptocurrency system
Published on January 9, 20185505 views
Chairman of Brighton Securities George Conboy doesn`t think the deal is as good as it sounds. “History will prove whether this turned out to be a smart move. I wouldn’t be willing to wager my money that is going to be the salvation of the new Kodak,” said Conboy
Rochester mall hours to be cut in January
Published on December 4, 20175796 views
Beginning January 2, 2018, hours at all three Rochester-area shopping malls will be cut by 30 minutes. "You can restrict hours and probably not reduce your sales in any meaningful way," said Brighton Securities Chairman, George Conboy.
More retailers battle financial trouble
Published on November 7, 20176098 views
As more retailers face huge amounts of debt, George Conboy, chairman of Brighton Securities, tells News10NBC what this could mean for shoppers.
Experts say future outlook for Kodak is bleak
Published on October 30, 20176240 views
"If they continue in the direction they're going now, Kodak will not be around in two or three years from now." Certified Financial Planner, Doug Hendee says Kodak's stock price is indicative of the trouble facing the company.
Xerox 3rd quarter numbers: some declines, but the report tops estimates
Published on October 26, 20175753 views
At Brighton Securities, George Conboy says Xerox still needs to increase sales, but it is holding steady for now. “With sales down, about six percent, year over year, there’s more of the same of what we’d expected from Xerox for a long time. This is a company that appears to be continuing to be struggling, but a company that continues to be profitable.”
Kmart stores in Victor and Chili to close
Published on August 24, 20175591 views
Kmart stores in Victor and Chili are among more than a dozen locations that are set to close this year. "It was only a matter of time" said George Conboy, Chairman, Brighton Securities.
Crowds line up for tickets ahead of Powerball drawing
Published on August 23, 20175901 views
It wasn't just people hoping to cash in. It was entire offices, too - like Brighton Securities. "The odds of winning the Powerball are roughly zero, to be quite candid," said George Conboy of Brighton Securities. "Your odds are essentially zero with one ticket, and zero with 100 tickets."
Brighton financial expert breaks down latest DOW milestone
Published on August 2, 20176003 views
The Dow Jones Industrial Average notched another milestone today, breaking above 22,000 for the first time. Chairman of Brighton Securities, George Conboy joins us in studio to talk about this milestone and what it means.
George Conboy On Dow Jones Record with Kimberly and Beck
Published on August 2, 20176600 views
George Conboy discusses the Dow Jones Record with Kimberly and Beck.
Xerox earnings: profits beat estimates, revenues a little lighter than expected
Published on August 1, 20175993 views
At Brighton Securities, George Conboy says this quarter looks a lot like some recent quarters. He says Xerox still needs to shore up sales. “To me it looks like Xerox will need to diversify their revenue base; they’re making equipment and they’re selling services to go with that equipment, but both major forms of business have been down now for some time.”
Daniele family reacts to Amazon buying Whole Foods
Published on June 16, 20176252 views
Financial analyst George Conboy of Brighton Securities said this move drives up the supermarket competition wars. "Wegmans’ flagship store is down on Monroe Avenue,” Conboy said. “We have a Trader Joe's right next door. If we have a Whole Foods down the street, you'll see these successful grocers battle it out for the consumer. Generally, when that happens, the consumer wins. We stand poised in Rochester to be the most competitive grocer market in the U.S."
Bitcoin - A bubble or the currency of the future?
Published on June 5, 20176186 views
How much do you know about Bitcoin and cryptocurrency? The value of Bitcoin has gone through the roof recently. Is it a bubble or could it eventually replace the dollar?
Rising student debt has a ripple effect on economy
Published on June 4, 20176200 views
"There is no question that the large student debt is a drag on the economy — dollars earned that have to pay off debt and not be used to buy a house, purchase a new car or start a family," said George Conboy, chairman of Brighton Securities, which is an investment brokerage and financial planning firm.
Kodak Launches New 'Ektra' Smartphone Camera
Published on May 25, 20176207 views
Financial expert George Conboy says the Ektra is a niche market for Kodak. He says that Kodak is not the giant it once was, but selling in smaller numbers is still selling.
Xerox's Ursula Burns retires from the board; new chairman named
Published on May 23, 20176585 views
“The fact that Xerox is still going, still making profits says there’s been an intense focus on cost control, she hasn’t been everyone’s favorite because she’s cut the headcount, but at the end of the day, the company’s still around, the company’s still making profits, and they’ve got a new change to grow.” Conboy says Xerox’s stock price didn’t do much while Burns was CEO, but at least the company has stayed in business where others have failed.
Kodak, Xerox hold public shareholder meetings
Published on May 23, 20176063 views
As both Kodak and Xerox hold public meetings for shareholders today, George Conboy from Brighton Securities helps explain what shareholders should be looking for from the meetings.
Kodak turns in a profit for the 1st quarter; sales decline
Published on May 9, 20176141 views
At Brighton Securities, George Conboy says overall, this was a pretty good quarter for the company. “I’d say this quarter was a mild plus for Eastman Kodak in most of their divisions, and a fair report on the top line, where sales declined only slightly and a decent report on the profit side, so all in all, plus for Kodak," Conboy told WXXI News.
Xerox 1st quarter: earnings off a penny from Wall St. projections, revenues on target
Published on April 25, 20176139 views
At Brighton Securities, George Conboy says that while profit margins were up, sales were soft. “This is a company that I think you can expect to find over the next 6, 9 months, 18 months will continue a very strong focus on restructuring to get to a place where they can get sales that will sustain the company because they’re not there yet.”
Top Workplaces: Brighton Securities
Published on April 6, 20175023 views
Brittany Weeks, an Office Assistant at Brighton Securities, said "it's the relationships at the financial services firm that makes getting up and coming to work enjoyable." "Ideas and suggestions are valued by the firm," said Christina Gregory, the Marketing Coordinator at Brighton Securities.
Brighton Securities turns ideas into action
Published on April 6, 20176298 views
But what factors into being named a Top Workplace? For Brighton Securities, it comes down to an open-door policy, involving all employees in decisions that affect them, and implementing ideas from employees, Jai Ramachandran CEO, said.
Rochester's Top Workplaces 2017: The list
Published on April 6, 20176492 views
Here are Rochester's Top Workplaces for 2017. The winners were announced at an awards ceremony on April 6.
How will New York pay for free tuition?
Published on March 29, 20176855 views
"It will have to get paid for somehow. It will either be other things will get cut, or taxes will go up,” said George Conboy, Brighton Securities chairman.
Webster team part of Xerox's largest product launch ever
Published on March 29, 20176299 views
"Quite frankly, they have to do it," said George Conboy, Chairman of Brighton Securities. "Xerox has to make sure they stay current and integrate their documents processes with the kinds of devices that workers are used to using.
Business Report: Future of Bausch + Lomb; who gets impacted by rising interest rates
Published on March 20, 20176259 views
Amajor investor in Valeant decided to sell his shares in the company, George Conboy of Brighton Securities ponders what that might mean for the future of B + L going forward.
Kodak turns a profit in 2016
Published on March 7, 20176395 views
Revenues in 2016 totaled about $1.5 billion down 10 percent from the year before.At Brighton Securities, Chairman George Conboy says the company has seen slow improvement. “Kodak sales still declined in the quarter, but not by much, and they actually turned a profit, a nice improvement from what we’ve seen in previous years.”
Excellus CEO sees 9% pay hike
Published on March 2, 20176193 views
The increase for Booth was "generous," given the marketplace and community, said George Conboy of Brighton Securities. As for the company's overall performance, being a nonprofit health plan, Conboy said it appeared Excellus was "doing a good job."
Hedging a tool for firms facing currency flux
Published on February 24, 20177109 views
“When people think about managing currency risk, they think of flashing red and green lights on a screen watching the euro,” said Jeff Morse, managing director of corporate finance for Brighton Securities Corp., who has worked with a number of clients on hedging strategies. But currency hedging is more like insurance than an investment strategy when it comes to businesses that buy or sell abroad, he argued.
Xerox reports earnings for document technology business
Published on January 31, 20176319 views
At Brighton Securities, Chairman George Conboy says getting those sales numbers up really is Job 1 for Xerox. “This quarter was a little better ...
Financial Analysts Say 'Trump Bump' Helped Dow Jones Reach 20,000
Published on January 26, 20176630 views
“There’s been a lot of promises that are pro-business, pro-economic growth, so that is part of the optimism that’s baked into the numbers right now," said Brennan Redmond of Brighton Securities. "So that’s good, but it’s a double edged sword, because if t
Dow Jones hits historic 20,000-point mark
Published on January 25, 20175090 views
George Conboy of Brighton Securities said the average can act as a way to measure consumer optimism. “An analyst will tell you that the meaning is very modest, because the Dow Jones Industrial average is a median composed of only 30 companies,” said Co
Small Business Spotlight: Brighton Securities
Published on January 14, 20175192 views
Brighton Securities again made the most recent list of the Democrat and Chronicle’s “Top Workplaces.” Jai Ramachandran said the firm’s open-door policy plays a big part in achieving that recognition.
What do newly released court papers on Assemblyman Nojay reveal?
Published on December 19, 20166979 views
George Conboy, Brighton Securities: “Most people come across a lawyer's escrow account when they sell a house, for example. You go to the closing, your house is sold. In a few days or a week after the transaction the lawyer will send you a check for the
Not just the election: Is Russia also influencing our gas prices?
Published on December 13, 20166934 views
George Conboy: "Supply and demand factors for any commodity, Berkeley, tend to be very self-correcting."
Charter, telecom shakeup reverberates in Rochester
Published on November 15, 20166443 views
"There has been a lot of churn in the industry," Brighton Securities Chairman George Conboy said in a recent interview with the Democrat and Chronicle. "In looking at this I think consolidation in the industry is inevitable because there are a lot of comp
The Dow reacts well to Trump
Published on November 11, 20165080 views
"It’s Wednesday. The sun will come up. The farmer will go in the barn. The cow will give milk. The chicken will lay an egg." - George T. Conboy
Kodak Posts a profit in its latest quarter
Published on November 9, 20166440 views
Kodak is reporting another profitable quarter, although sales were down. But overall, George Conboy of Brighton Securities says this was a pretty good report. “There certainly is a positive in that Kodak is starting to print its quarterly reports in bl
Windstream To Buy EarthLink
Published on November 7, 20166401 views
The statement about the merger refers to the two companies identifying $125 million in synergies. At Brighton Securities, George Conboy says he wouldn’t be surprised to eventually see that result in some local cost cutting. “I think it’s reasonable to e
Brighton Securities Expands Headquarters
Published on October 26, 20165200 views
Brighton Securities has expanded its offices, adding three new conference rooms, a larger reception and waiting area, eight new offices and a dedicated wing for tax services. The wealth management firm has added 2,000 square feet to its Monroe Avenue loca
Paychex continues to grow after more than four decades
Published on October 7, 20165319 views
Doug Hendee, chief sales officer and certificated financial planner for Brighton Securities, said Paychex is one of Rochester's "flagship companies" that's managed well despite being in a complex line of business. "From an investor's standpoint, that's what we look for," Hendee said. "They continue to grow and adapt their business to what the end-user wants and the stock has done very, very well."
Local men raise funds to fight breast cancer
Published on September 26, 20166175 views
"In addition to wearing pink and raising awareness about breast cancer issues, these men will be raising funds to help the American Cancer Society save more lives from breast cancer," said Michael Crisona, senior market manager for the American Cancer Soc
Valeant to report Bausch + Lomb results separately
Published on August 9, 20166237 views
"I suspect Valeant management would very much like to keep Bausch + Lomb," said George Conboy, an investor and chairman of Brighton Securities. "You only throw something over the side if you have to lighten the load of a sinking ship. It's not clear this
Kodak reports profitable Q2
Published on August 9, 20166263 views
"The long, slow decline in the stock has been reversed," Conboy said. "And while it isn’t up to where it was at the beginning of 2015 (when it topped $22), stock prices tend to be a leading indicator. Meaning, it's not uncommon for a stock to react in adv
Xerox's 2nd Quarter: Profits Improve; Sales Lagging
Published on July 29, 20166662 views
At Brighton Securities, Chairman George Conboy says the quarter was so-so, with earnings showing improvement, but revenues still lagging. “Profits were OK, a little higher than expected, it’s great that Xerox is profitable. Unfortunately, as expected, sa
Xerox Increases The Size Of Its Board Of Directors
Published on June 28, 20166289 views
Xerox had already agreed to give Icahn three seats on the board of the business services company, but now, the Wall Street Journal reports he may have more of a say about the formation of both companies. Brighton Securities Chairman George Conboy is not
Brexit Vote: Could It Affect Your Financial Plan?
Published on June 24, 20165021 views
We want to stay diversified, we want to make sure that we are looking at all those principles of investing and following those and this kind of event that we've seen so many times before we should be able to weather that fine," Brighton Securities senior
How many jobs is Xerox cutting in Rochester?
Published on April 26, 20166517 views
"You risk demoralizing your workforce when you try to tell them that they shouldn't be open with your customer base," said financial analyst George Conboy with Brighton Securities. "No one wants their customers to think they're calling Guatemala or the Ph
Connections: The Debate Over Uber And Lyft
Published on February 2, 20166368 views
We examine the debate over Uber and Lyft, and whether it's time for the state to allow them to operate across New York. Jai Ramachandran, CEO of Brighton Securities and an Uber enthusiast