Instagram Co-Founders To Step Down

Sep 25, 2018

Kevin Systrom and Mike Krieger, co-founders of Instagram, have announced their plan to leave the company that produces the popular photo-sharing application.

"We're planning on taking some time off to explore our curiosity and creativity again," Systrom said in a statement on the company's website. "Building new things requires that we step back, understand what inspires us and match that with what the world needs; that's what we plan to do."

In this week's WXXI Business Report:

--The latest numbers from the NYS Labor Department show continued strong growth in the Rochester area labor market.

--Plans are in the works to redevelop the former Kodak Hawkeye Plant.

-And a major soft drink maker is looking to tap into surging demand for marijuana products (with a non-psychoactive ingredient).

Six local school districts are partnering with the University of Rochester's Warner School to bring classrooms into the digital future.

The National Science Foundation had awarded the partners $3 million for a project to help train teachers to provide digitally-rich instruction. That means teaching in a classroom where students use mainly laptops and tablets to learn material and complete assignments.

Satellite radio giant SiriusXM is buying the Oakland, Calif.-based digital radio company Pandora in an all-stock deal valued at $3.5 billion, the companies announced Monday. The deal is expected to close in early 2019.

The merger would create "the world's largest audio entertainment company," SiriusXM CEO James Meyer said in a conference call. The deal would still need to be reviewed by antitrust regulators and shareholders, he added.

The University of Rochester Medical Center has received a multi-million dollar federal grant to fund new research into e-cigarettes.

There’s a public impression that e-cigarettes are a safe alternative to conventional smoking, the university said, but precious little research has corroborated that idea.

Kodak is using its iconic brand to join forces with a fashion retailer.

The company has announced that it is teaming up with Forever 21 on a new apparel collection for the fall season featuring some of Kodak’s many logos and designs, using original colors from Kodak branding and packaging from the 90’s.

The clothing line also draws inspiration from Kodak’s days as a NASCAR team sponsor.

In the latest Business Report, there's a mix of good and bad news on the job front...wages may finally be starting to rise, but the job market is getting tighter. 

Plus, hear why Alfred University is coming to Rochester to help emerging clean-energy companies. Plus, info on Spectrum's new mobile phone product.

A local car dealership is getting larger. The Bob Johnson Auto Group is buying Doan Chevrolet on Ridge Road West in Spencerport and Doan Buick GMC on Ridge Road West in Rochester.

According to Bob Johnson owners John Love and Greg Stahl, the newly named “Websmart Chevrolet” and “Bob Johnson GMC” will begin operations on Tuesday.

The Bob Johnson Auto Group now employs 750 people including nearly 200 employees from this acquisition. Love says he expects to increase his workforce by 10% in 2019.

A Rochester startup is looking to solve a medical problem with a global scope. VisualDx is building a database of what diseases look like on all skin colors, in an effort to correct persistent racial inequalities in diagnosis.

Scientists have known for decades about racial inequalities in access to medical care. A landmark 1985 report from the U.S. Department of Health and Human Services, for example, found that minority Americans lived further from doctors and had less ability to pay for medical care compared to white people.

Stress levels for farmers in America have skyrocketed in recent years. With dairy prices low, many farmers are looking not just for financial support, but emotional support as well. Programs like New York State FarmNet have become integral for agricultural professionals in rural communities who may be suffering from depression.


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U.S. Photonics Hub Coming To Rochester

What does this mean for the economy of the Rochester region?