Best Buy to be closed on Thanksgiving
The International Photography Hall of Fame and Museum (IPHF) announced its 2020 class of Photography Hall of Fame inductees, which will be added to the Hall of Fame and Museum, located in the Grand Center Arts District in St. Louis, Mo.
According to Hans Hartman at Visual 1st, most pros use smartphones quite often for their personal photos and are therefore quite familiar with the strengths and weaknesses of smartphones vs. standalone cameras.
The Galion Inquirer reports Shutterfly Inc. is embarking a three-year, $23 million expansion of its Galion, Ohio, The company, which already employs nearly 200 people there, expects to add another 100 new jobs through this expansion project. The Galion site is well-known as a church directory plant, and recently had added preschool and studio photography products. The article stated the plant will offer the full range of Lifetouch and Shutterfly personalized products.
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Canon Inc. slid to a two-decade low after reporting its first quarterly loss, according to Bloomberg. Its shares slid as much as 11.5%, the biggest decline on an intraday basis since July 2012. The Japanese maker of printers and scanners warned the pandemic had dampened demand for printers and cameras more than anticipated, forcing it to slash its interim dividend. Canon also forecasts an annual profit of 45 billion yen ($428 million), missing the lowest of analysts’ estimates.
Eastman Kodak Co. is going back to its chemical roots with the launch of Kodak Pharmaceuticals, The U.S. International Development Finance Corporation signed a letter of interest to provide a $765 million loan to Kodak to support the launch of Kodak Pharmaceuticals, a new arm of the company that will “produce critical pharmaceutical components.” The announcement sent EK’s stock soaring ten-fold, but not without some criticism.
Long-time industry members will remember this isn’t Kodak’s first foray into chemicals after it spun off Eastman Chemical in 1994 and the purchase (and later divestiture) of Sterling Drugs in the 1990s.
Xerox Holdings Corp. reported second-quarter revenue of $1.47 billion, a decrease of 35.3 percent year-over-year. The company also reported $34 million of operating cash flow from continuing operations, down $242 million year-over-year, and $15 million of free cash flow, down $245 million year-over-year.
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Trainline announced Jody Ford, CEO of U.K.-based photo printing company Photobox Group, will serve in a newly created role of Chief Operating Officer, effective Sept. 21 2020. Ford will join then board and report into CEO Clare Gilmartin.