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Arunsas Chesonis Talks PAETEC
Arunsas Chesonis Talks PAETEC
December 11, 2008
Sean Carroll
13Wham.com
PAETEC, the Fairport-based telecommunications firm, is not immune to the struggles of this economy. But, the company's founder and CEO said providing telephone and data services to strong companies does help during these times.
"It's not a recession-proof business by any means, but most of our customers aren't going to be going out of business and leaving us because we deal with sort of the medium to large-scale enterprise," Arunas
Chesonis said. "So at some level, unless they shut their doors, they need PAETEC service."
Chesonis said last week's layoff of 222 workers nationally, including 41 locally, was the undesired result of what he expects will be a three-year economic downturn.
"We think that next year will actually be a tougher year than this year 2010 will probably be as tough as this year, 2011 is when we think things will be a little bit better (and) more normal," Chesonis said.
With that come the obvious questions about PAETECÅs now scaled-down plans to build a new world headquarters on the soon-to-be-former Midtown Plaza site.
"My parents ask me about (that) all the time and I tell them look, the project we're talking about is a ready-made stimulus project," he said.
No signed contract commits the company downtown, but Chesonis remains committed, and with a developer already on board and an architect chosen, he is confident the project will happen.
"We can wait a couple years before we move all under one roof,ä Chesonis said of his plans to move workers at his four local offices to Downtown Rochester. "And, if it gets delayed six months or twelve months that's still ok with us, we'll be right there with the city."
Chesonis is also optimistic about his companyÅs recently-stumbling stock price. One year ago PAETEC stock sold for about ten dollars a share and this week it trades for just under $1.40 a share.
Chesonis said if the company continues to put up strong quarterly numbers and rides out this recession the stock price will rebound.
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