WXXI AM News

Xerox

Xerox Corp.

Xerox is reporting third quarter numbers that beat Wall Street estimates.  Although the company is seeing some declines in profits and sales, it still exceeded what the analysts were looking for.

Xerox earned $179 million dollars in the quarter, down a bit from $183 million a year ago,  and sales of $2.5 billion fell close to six percent compared to a year ago when currency fluctuations are accounted for.

The company earned 89 cents per share after various restructuring and other costs. Both profits and revenues topped analysts’ estimates.

Xerox Corp.

Former Xerox Chairman and CEO Ursula Burns has been appointed to the board of directors of Uber. But that move apparently came as a surprise to the ride-hailing company.

Last week, Former Uber CEO and co-founder Travis Kalanick named Burns and ex-Merill Lynch chief John Thain to the Uber board. Kalanick resigned under pressure as CEO of Uber in June. Dara Khosrowshahi was named the new CEO of Uber, but Kalanick remains on the board of the privately held company.

Xerox Corp.

Xerox’s annual meeting held Tuesday marked the end of one era in the company’s leadership and the start of another.

For the first time in a number of years, Ursula Burns is no longer a top official with Xerox.

She has been with the company since 1980, and was CEO for several years until late last year when the company split into two separate businesses, one focusing on document technology called Xerox, and the other concentrating on business services, named Conduent.

Xerox will be eliminating about 175 positions at its Webster campus.

The company says that as part of its strategic transformation, it will be closing some supply chain operations including a warehouse facility in Webster, and that will affect both salaried employees and members of the Industrial Work Force, represented by Local 14A in Webster.

In this week's report, WXXI's Randy Gorbman takes a look at the ongoing efforts of the organization Causewave, former the Ad Council,  to look for community approaches to solving problems. The discussion keys off a recent presentation at the Causewave meeting with the leader of an anti-smoking movement across the nation.

Also, Xerox acquires an office equipment company in Ohio.

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

In this Business Report, a look at the recent numbers released by the Greater Rochester Association of Realtors, which shows a decline in sales of existing homes for the first quarter of the year, compared to a gain in sales we saw last year in the same quarter.

Also, a preview Xerox' earnings, which come out early Tuesday morning.

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

Xerox Corporation

Xerox has announced what it says is the largest product launch in the 110 year history of the company.

The launch on Wednesday hosted by Xerox CEO Jeff  Jacobson and other company officials in New York City involves 29 printers and multi-function devices that look to take advantage of various software capabilities.

They revolve around ConnectKey, that is Xerox technology which helps the user move between various kinds of office equipment and documents.

Xerox on Wednesday is launching what it says is the biggest product introduction in its history, 29 new products. The company says they will include new software and apps, many of which were developed by engineers in the Rochester area.

Also, reviewing a recent study by the Brookings Institution on economic growth. The Metro Monitor report tracks the economic performance of the country’s largest metropolitan areas, and the Rochester area didn’t fare too well.

Randy Gorbman reports on the AIM-Photonics project in Rochester has decided on where their local headquarters will be. Also, Kodak is looking to sell their Prosper commercial inkjet business to a local company you may know. They’re called Xerox.

Xerox Corp.

The leader of Xerox Corporation was apparently on the short list of names being compiled for  Hillary Clinton earlier this year when she was considering candidates for vice president.

Xerox Chairman & CEO Ursula Burns was on a list of more than 30 names on an email dated last March. It was revealed by WikiLeaks, which indicates the email came from campaign manager John Podesta and was described as “a first cut of people worth considering.”

Xerox declined comment when asked by WXXI News about the email.

Pages