Eastman Kodak

As Kodak remains quiet on many of the details of its plan to launch a pharmaceutical division funded in large part by a federal government loan of more than $700 million, hospital pharmacy chiefs and industry analysts are divided on how sensible the idea is.

Kodak has won a $765 million government loan to make generic drugs. How did this happen? The answer is stranger than you might think, and it has a local connection.

Todd Moss worked for the State Department under President George W. Bush, is an author, and is doing global affairs work that helped bring a bipartisan solution to a question about the federal government: how can the U.S. invest overseas appropriately? They found a situation, but how did the money get back to Kodak? Was it the right thing to do? Todd Moss explains it.

Our guest:

• Todd Moss, senior fellow at the Center for Global Development

Wednesday was a huge day for shares of Eastman Kodak, which rose more than 300%, closing at $33.20 per share.

The big run-up, which followed the tripling of the share price on Tuesday, came after the announcement this week that the federal government will loan Kodak $765 million to help it gear up to produce ingredients used in generic drugs.

George Conboy from Brighton Securities said it’s not a total surprise that Kodak stock is skyrocketing.

The Trump Administration has signed a deal to give a $765 million loan to Eastman Kodak, so that the company can produce critical components for pharmaceuticals.

Trump Administration and Kodak officials say this new venture should create at least 300 jobs in Rochester, the home of the 130-year-old company which has had tough times in recent years after digital photography largely replaced film.  A new division will see Kodak produce components used in generic drugs.

In the latest WXXI Business Report, Paychex has seen how efficiently some of their employees are working from home, so it's looking to reduce it's office space footprint.

You'll also hear from the CEO of Kodak Alaris responding to a trade publication claiming the company will sell off some of its assets; and a new venture capital fund is looking for investors who will back local technology companies.