Economy

Economy
9:33 am
Wed July 30, 2014

Kodak CEO Issues Statement On Motion Picture Film Business

Credit motion.kodak.com

Kodak’s CEO has issued a statement following a report in the Wall Street Journal that the company is close to a deal with Hollywood studios that would guarantee Kodak would be able to count on a certain amount of sales of motion picture film.

After a request for comment from WXXI News, the company provided a quote from CEO Jeff Clarke which said:

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Economy
6:31 am
Wed July 30, 2014

Corning Donates Parts For Space Telescope

Credit boldlygo.org

ALBANY, N.Y. (AP) Corning Inc. has donated $1.8 million in high-tech components for a telescope a private group wants to launch into space.

The not-for-profit BoldlyGo Institute wants to put its ASTRO-1 telescope in orbit by the mid-2020s. The group says obtaining the components for a roughly 6-foot telescope primary mirror marks a major step toward the ambitious goal.

The institute says the space telescope would be used to study planets orbiting nearby stars, as well as the Milky Way and other galaxies.

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Economy
8:53 pm
Tue July 29, 2014

Kodak Said To Be Close To Deal To Guarantee Some Film Sales To Hollywood

Credit www.kodak.com

A coalition of Hollywood studios reportedly is close to a deal to keep Eastman Kodak in the business of producing movie film.

That’s according to an article in the Wall Street Journal, which says the negotiations are expected to result in an arrangement where studios promise to buy a set quantity of film for the next several years.  This would be happening even though most movies and TV shows now are shot on digital video.

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Economy
4:39 pm
Tue July 29, 2014

Paychex Small Business Index Increases In July

A monthly index that looks at employment levels among small businesses show somewhat of a rebound in July. That according to the CEO of the company that puts out the index, Paychex.  Marty Mucci says that after the index fell a little in June, it did better in July in terms of showing jobs added by small businesses across the country.

"We had a nice little jump back up in the Paychex/IHS small business survey and we still have the West, kind of the central and west really leading the regions from a small business growth prospective."

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Connections
2:37 pm
Tue July 29, 2014

Connections: Social Media Marketing

Understanding social media marketing with Jon Alhart.

The landscape of social media marketing is changing, as are the tools and techniques of the industry itself.

Perceptions of the value of a  social media campaign, however,  in terms of helping an organization achieve it's objectives, often remain rooted in one's assessments and opinions formed while the industry was still in its infancy. Misconceptions and folk knowledge about social media marketing,  continue to circulate on social media itself, adding to the confusion.

We try to clear the confusion up with Jon Alhart, director of social and digital media at Dixon Schwabl

Economy
5:38 am
Mon July 28, 2014

Local Company Lands Contract With Lenovo

Credit Vuzix

A high-tech Brighton company has landed a  major contract with a well-known computer company in China.

The local company is Vuzix, which makes video eyewear and smart glasses, and the computer company is Lenovo, the big PC maker.

Vuzix has signed a deal to sell its M100 Smart Glasses in China. They will be co-branded with both the Vuzix and Lenovo names on them and the agreement calls for the internet -connected glasses to be sold in the industrial and commercial markets in China and allows for the expansion into other markets.

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Economy
7:52 am
Fri July 25, 2014

Xerox Earnings Beat Wall St. Estimates

Credit Xerox

Xerox is reporting second quarter earnings that beat Wall Street expectations.

Although Xerox's net income of  $266 million was down $5 million from the same quarter last year, earnings per share of 27 cents beat Wall Street estimates by a penny.  Sales were relatively flat, down about two percent overall.

Xerox spokesman Ken Ericson says the company is generally pleased with some of the trends it is seeing.

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Economy
3:39 pm
Thu July 24, 2014

Rochester Manufacturing Executives Get An Update On A New Federal Program

From L. to R.-Mayor Warren, Jay Williams of the U.S. Commerce Dept., and Tyrone Reaves, owner of Truform Manufacturing.
Credit Kristen Mansfield / WXXI News

A top federal official was in Rochester Thursday to help outline a new program available to area manufacturers.

Jay Williams, the  U.S.  Assistant Secretary of Commerce for Economic Development was in Rochester at a company called Truform Manufacturing  to talk about the area's recent designation as a "manufacturing community." 

That new program has a pool of $1.3 billion in federal funding,  and Williams, along  with Mayor Lovely Warren and other officials, met with local manufacturing executives to let them know how their companies can apply for some of that funding.

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Economy
10:56 am
Thu July 24, 2014

Record Profits & Sales For Monro Muffler, But Projections Scaled Back

Rochester based Monroe Muffler Brake says it saw record profits and sales in its first quarter, although the numbers did come in a bit below Wall Street expectations.

The company saw net profits rise nearly 25 percent to  nearly $17 million. Revenues increased 5.5 percent to just over $217 million.

Monro Muffler also announced that it will acquire 35 tire stores in Florida, which is a new state for the Rochester company to be operating in.

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Economy
7:19 pm
Wed July 23, 2014

RG&E Recycles 30,000 Refrigerators

Credit Katie Kaiser / WXXI News

Rochester Gas and Electric and New York State Gas and Electric marked a milestone in Rochester Wednesday with the 30,000th refrigerator donated as part of a recycling program. Both utilities are part of the company Iberdrola.

Denise and Dan Burns of Brighton took advantage of the program by getting rid of their old refrigerator that they were not using anymore.

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