Kate O'Connell

Definition of STEM economy needs to be broadened report says

Kate O'Connell — Thu, 13 Jun 2013 13:20:41 +0000

A new report from the Brookings Institution argues that more resources for training workers in science, technology, engineering, and math (STEM) should be directed at non-degree education providers.

The need for more STEM grads is a familiar cry from industry leaders and politicians alike. But, this new report argues there’s a large potential workforce being ignored because STEM jobs are being too narrowly defined.

Muller Quaker Dairy Plant to Boost Dairy Industry

Kate O'Connell — Mon, 03 Jun 2013 21:52:53 +0000

Upstate New York’s newest Greek Yogurt factory opened its doors in Batavia Monday. The factory is a joint venture between Pepsi and German dairy giant, the Theo Muller Group. The Muller Quaker Dairy Plant is touted as a shot-in-the arm for the dairy industry in western New York.

The 350,000 square foot facility will produce several yogurt products, including the fast growing Greek Yogurt varieties. The plant will initially operate three lines, producing more than 120,000 cups of yogurt per hour.

Valeant Pharmaceuticals CEO Speaks Highly of Bausch + Lomb Deal

Kate O'Connell — Tue, 28 May 2013 18:36:19 +0000

Michael Pearson, the CEO of Canadian drug maker Valeant Pharmaceuticals has spoken publicly about their purchase of Rochester-based Bausch + Lomb for the first time since the deal was announced Monday.

Pearson says the deal brings an opportunity for Valeant to immediately grow their presence in the global eye health market.

Rochester, The Next Solar Capital?

Kate O'Connell — Fri, 17 May 2013 17:38:18 +0000

Lt. Governor Bob Duffy has announced half-a-million dollars in tax credits for solar technology company Natcore. The credits come as an incentive for the company to expand its footprint at the Eastman Business Park in Rochester.

URMC Lab Mixes Medicine and Engineering to Tackle Challenges in Vascular Surgery

Kate O'Connell — Thu, 16 May 2013 15:30:06 +0000

Abdominal aortic aneurysms are one of the top ten causes of death in men over the age of 55, and upstate New York has higher rates of this condition than the rest of the country.

Researchers are now working on patient-specific diagnosis and treatment for the condition.

IDAs Need To Be More Transparent, Accountable Says Comptroller

Kate O'Connell — Wed, 08 May 2013 14:38:52 +0000

The state Comptroller’s office has released its annual report on New York’s 113 Industrial Development Agencies (IDAs), with concerns raised about the effectiveness and transparency of the organizations.

In 2011, IDAs across the state provided more than half a billion dollars in net tax exemptions to 4,486 projects.

Kodak to Exit Bankruptcy as Early as July

Kate O'Connell and Randy Gorbman — Wed, 01 May 2013 19:27:08 +0000

Kodak expects to emerge from bankruptcy as early as July according to the company’s reorganization plan filed late Tuesday.

The 78-page document filed with the US Bankruptcy Court, states the company expects to issue new stock to some of its creditors for almost $3 billion of unsecured debt. But under this plan, current shareholders would see their stock become worthless.

Kodak Reaches Deal To Sell 2 Businesses

Kate O'Connell — Mon, 29 Apr 2013 17:26:10 +0000

Kodak has reached a deal to turn its legacy personalized and document imaging businesses over to its largest creditor in return for wiping out pension obligations in the UK.

The agreement with UK Kodak Pension Plan (KPP) involves the sale of the imaging businesses for $650 million, and the settlement of nearly $3 billion of claims by KPP against Kodak and some of its affiliates.

US Chamber of Commerce to Support Young Entrepreneurs

Kate O'Connell — Mon, 29 Apr 2013 14:22:26 +0000

UPDATE: Connor Christian, a 13 year-old from Texas took out the top prize Friday night with his Rubber Boot Buddy idea. His invention is meant to be installed in the back of a truck to keep rubber boots in place and easily accessible.

Christian won $30,000 scholarship to RIT as well as a trip to America’s Small Business Summit and a chance to pitch his idea on the TV show, Shark Tank.

Advanced Video Processing Could Help Law Enforcement

Kate O'Connell — Fri, 19 Apr 2013 21:05:59 +0000

Investigators in Boston this week quickly began sifting through more than two thousand video and still images of the marathon route looking for potential suspects in bombing, with crowd sourcing becoming the newest tool in the arsenal of law enforcement agencies.

But researchers in Rochester are working on new technology that could make it easier to analyze the enormous volumes of visual content available from devices like smartphones and surveillance cameras.