Plans for Paetec World headquarters has been changed once again.  Originally, the building was going to be the largest building downtown.  Then it was going to be something considerably smaller, and a few weeks ago, they were considering going into the former Midtown Tower.

In light of the D&C story on Paetec’s “sizable loss”, plans for their building were further revised. 

The Perinton company, which employs about 800 in the Rochester area, lost $114 million for the fourth quarter of 2008, and lost $488 million over the course of the year. For the same quarter a year prior and for 2007 overall, the company eked out modest profits.

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Those financial woes raise increasing questions about the company’s ability to move its corporate headquarters from Perinton to downtown Rochester. The company in late 2007, when its stock was trading at more than $12 a share, was talking about building a multi-story high rise on the site of Midtown Plaza. Today, with its stock at $1.28, PAETEC says it now is leaning toward being a long-term tenant at Midtown Tower if an outside developer rehabs the space. PAETEC ended 2008 with $929 million in debt.