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Eastman Kodak Company

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

Provided

Dave McDowell must have had an air of mystery about him during his decades as an engineer at Eastman Kodak.

His neighbors, his friends, and even his family had no idea what he was working on, and Dave couldn't tell them, even though they had a lot of questions.

"Constantly, constantly," he recalled. "It was fun at parties sometimes; you would know the other people that were cleared, or had a pretty good idea of who they were, and you would talk in sort of coded words, 'Where are you working? I'm over at Lincoln Plant, Unit 7.' "

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.

Kodak to Sell Document Imaging Business

Apr 15, 2013
WXXI Public Broadcasting

Kodak looks set to sell its document imaging business for $210 million. The company has reached a tentative deal with Brother Industries that would see them take over operation of the portfolio of scanners, capture software and services.

In addition, Japan-based Brother would also assume the business’ deferred service revenue liability which totaled approximately $67 million at the end of 2012.

Need To Know Rochester: The Business Section

Dec 21, 2012

Matt Daneman from the Democrat & Chronicle discusses the Kodak patent sale, the sale of Hickey Freeman, and tax breaks for the Sibley Building.

Apple and Google Partner to Buy Kodak's Patents

Dec 8, 2012
www.kodak.com

Bloomberg business news is reporting that two tech rivals will join forces to buy Kodak's digital imaging patents.

Kodak Sells Imaging Businesses

Aug 24, 2012

Kodak is selling its Personalized and Document Imaging businesses, which includes its market-leading photo kiosk business. The company says the sale of its assets is an effort to return the former film giant to profitability and emerge from Chapter 11 bankruptcy.

"These are not easy decisions," says Kodak CEO Antonio Perez. "We need funding to satisfy the needs of our creditors. That is a business that is easily identifiable, easy to carve out, one that has significant value and a good choice."

This week on Need to Know Rochester, Monroe County Executive Maggie Brooks looks ahead after the news of Kodak's bankruptcy.

Brooks also talks about the governor's 2012 budget proposal.  If approved by the state legislature, will his mandate relief measures lower your taxes this year?  

Join host Julie Philipp on Need to Know Rochester, Friday at 8:30 p.m. on WXXI-TV.

This Week on Need to Know Rochester

Jan 11, 2012

This week on Need to Know Rochester, Reporter Helene Biandudi and Videographer Marty Kaufman take us on a trip through Kodak's past.  They recently visited the company's archives, which Kodak donated to the University of Rochester in 2004.

Also, local New York State Assemblymen Joe Morelle (D) and Brian Kolb (R) stop by to talk about the state budget and the some of the top issues facing the Rochester region.

Watch Need to Know Rochester Friday at 8:30 p.m. on WXXI-TV.