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Xerox

Emily Hunt / for WXXI News

A new report says that two of Xerox’s biggest investors are pushing the company to consider a possible sale.

The story is in the Wall Street Journal which says that billionaire investors Carl Icahn and Darwin Deason have formed an alliance and plan to encourage Xerox to look at the possibility of selling the office technology company.

Xerox is said to be in talks to potentially reach a major deal with FujiFilm Holdings. 

That’s according to a report in the Wall Street Journal which says that the two companies, which already have a joint venture, are looking at a variety of possible deals that may or may not include a change of control at Xerox.

One of the sources quoted by the Journal says that a full takeover of Xerox is not on the table, and no deal appears to be imminent.

There may be some big changes on the way for Xerox’s Board of Directors.

The word came early Monday with Xerox announcing that Jonathan Christodoro, a board member who was originally appointed by activist investor Carl Icahn, is resigning. Christodoro is making that move so that he can join a slate of three other Icahn-backed nominees to run for the Xerox board next year.

The latest Paychex-IHS Small Business Employment Watch is out; we talk about the changes in job growth and wage growth in the November survey.

We also talk about some changes for the Xerox Board of Directors; One director, who has worked with activist investor Carl Icahn is resigning, but he and three others will seek to join the board next year.

And there are corporate changes for a local high-tech company, iCardiac Technologies.

Paychex is out with a new survey on what small businesses around the country think about the new tax reform plan. As of late last month, there were some differing opinions.

Also, we recap Xerox CEO Jeff Jacobson's presentation at a financial conference where he points out what the company will need to do to improve revenues, and we highlight a big gift for Hobart and William Smith Colleges.
 

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.

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