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Kodak

In the latest WXXI Business Report, Randy Gorbman explains how Kodak is trying to tighten up on security measures for its upcoming digital currency, called “KodakCoin”. Plus, we have more on an Ontario County sauerkraut processor closing up shop, and one of the region's oldest manufacturers is changing hands.

After a sharp rise in its stock price a few weeks ago when Kodak announced it was getting into the cryptocurrency area, the company’s share price fell 13% on Wednesday, and another 12% on Thursday, closing at $6.95 a share.

Kodak stock soared Tuesday, rising 119 percent, or $3.70 a share,  closing at $6.80, after the company said it is getting into the digital licensing and cryptocurrency market.

Kodak is partnering with a company  called WENN Digital.

The companies are launching what is known as 'blockchain' technology with the products KODAKOne and KodakCoin. Blockchain is a ledger where transactions of digital currencies, like bitcoin, are recorded.

Kodak is the latest company to enter the cryptocurrency market as Bitcoin makes gains.

  

WXXI's Randy Gorbman talks with officials from Kodak Alaris about the new ‘Kodak Moments’ app which uses a special algorithm to help people organize photos on computers and mobile devices according to which photos are the most meaningful to them.

Also, former Xerox Chairman and CEO Ursula Burns is appointed to the Uber Board of Directors, and we also discuss a local connection to the opening of a new Oakley store at Eastview Mall.

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Kodak officials lit up a new marquee and digital sign Thursday night at Kodak Center Theater on West Ridge Road in Rochester.

As WXXI News reported last week, it’s part of a push overall by Kodak to make a number of changes to Eastman Business Park and the surrounding neighborhoods.

The name, Kodak Center, was shortened from Kodak Center for the Performing Arts. And before that, it used to be known as Theater on the Ridge.

Eastman Kodak

Kodak officials are working with other organizations, planning a number of changes for Eastman Business Park and the surrounding area.

Next week, the former Theater on the Ridge, recently called the Kodak Center for the Performing Arts, will unveil a new marquee and digital display.  And with that, Kodak says there is a slight name change for that theater: It will now just be known as Kodak Center.

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Kodak is teaming up with a California skateboard company.  The Rochester company is working with Girl Skateboard Co. on a new product line centered around the Kodak brand.

The new collection includes skateboards, wheels and apparel featuring Kodak color schemes, film stocks, and logos mixed with the Girl Skateboard company’s logo and branding.

Kodak is looking for ways to better utilize its headquarters building.

As the company has gotten smaller over the years, so has the amount of space it has needed in the iconic State Street building in Rochester.

So now, the company is marketing the tower and related space as a location that other companies could lease, perhaps for their own headquarters.

Dolores Kruchten is President of Eastman Business Park, and she says the amenities that the Kodak Headquarters building has are what sets them apart from some other office space in the area.

www.kodak.com

Eastman Kodak and the Bullitt Group announced on Tuesday that the company’s new Kodak EKTRA Smartphone has been released for sale in the United States.

The phone was already released in Europe last December. The phone is being manufactured by UK-based Bullitt Group.

The companies say the U.S. launch coincides with a software update addressing requests from photo-enthusiast consumers, including RAW support, improved auto-focus performance and optimizations to auto-white balance and color saturation.

The device lists at a retail price of $399.99.

A recent survey by Paychex says we saw a dip in the jobs numbers, but an increase in wage growth across the region. WXXI's Randy Gorbman tries to make sense of it all. Plus, earnings announcements are coming up this week from Kodak and Conduent. Then some news about two well-known local retailers shutting their doors for good.

The WXXI Business report looks at business and economic issues facing the Rochester area including western New York and the Finger Lakes.

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