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Kodak files for Ch 11

torchthebitch

torchthebitch

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Can it be allowed to go down?

BY MIKE SPECTOR, DANA MATTIOLI AND KATY STECH
Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, after the struggling photography icon ran short on cash needed to fund a long-sputtering turnaround.

The storied former blue chip said it had secured $950 million in financing from Citigroup Inc. to help keep it afloat during bankruptcy proceedings. The company also named Dominic Di Napoli, a vice chairman at FTI Consulting Inc., as its chief restructuring officer to help steer the company through bankruptcy court.
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http://online.wsj.com/article/SB10001424052970204555904577169920031456052.html
 
Yes, it can.


My first camera was a Brownie...

Now my phone has a camera. The phone used to be leased, black and shared.
 
Sometimes I think it best to let a company go down, sometimes I think they need to be protected. KE is a big employer and is a major customer for a number of other companies. The impact on the supply chain often causes more job losses than the collapse of the company itself.
 
No, it always brings more to the market, in the long run.

It is a mistake to focus on the short term pains of the market correcting itself.

Kodak made a bad bet, even the slowest employee could see this one coming, but Kodak's loss is a net gain for the market overall in capital redistribution.

The profitable parts of the company will be sold off, the unprofitable will be allowed to die and the unemployed will make lateral moves that will eventually benefit them and the rest of us.
 
torchthebitch said:
Sometimes I think it best to let a company go down, sometimes I think they need to be protected. KE is a big employer and is a major customer for a number of other companies. The impact on the supply chain often causes more job losses than the collapse of the company itself.
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I was in Rochester NY a couple of years ago and got talking to a taxi driver. He was telling me Kodak went from employing 80,000 people in the town to less than 4k. The impact on Rochester was devastating and extremely visible.
 
What we need is an individual mandate requiring all American Citizens to purchase at least 8 rolls of film per year. The price of the film can be indexed to the budget of Rochester New York so as to keep things fair.

Of course, due to EPA restrictions, you must not use the film because developing chemicals harm the environment and disposal of the film cartridges costs far too much, so we will also mandate a film restocking envelope be included (with postage paid) for returning the film to Kodak for repackaging and reprocessing.

We not only save Kodak and those jobs, we save Rochester New York and we also save the Postal Service.

Vote me.
 
"If a mandate was the solution, we can try that to solve homelessness by mandating everybody to buy a house."
Famous "Activist" Constitutional Law Professor and student-teacher of Alinsky,
Barack Hussein Obama, 2008
 
4est_4est_Gump said:
Yes, it can.


My first camera was a Brownie...

Now my phone has a camera. The phone used to be leased, black and shared.
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Racist slave owner. :rolleyes:

Kodak didn't see the writing on the wall. Fuji did. Where is Ilford today?
 
4est_4est_Gump said:
Yes, it can.


My first camera was a Brownie...

Now my phone has a camera. The phone used to be leased, black and shared.
Click to expand...

I had a brownie AND a shared phone, too. We're geezers.

I still use a camera rather than a phone to take pictures. BUT, it is digital so no film (KODAK) is necessary.
 
Heard on the news a few days ago, Kodak had a digital camera prototype ready to go in the late 70's or early 80's...but the CEO was thought to be crazy, and they held the idea back...I haven't researched it to see if it is true but what a good example of bad foresight...
My/our first digital camera was a Kodak...still have it...still shoots great photos...
 
Trace_Element said:
Heard on the news a few days ago, Kodak had a digital camera prototype ready to go in the late 70's or early 80's...but the CEO was thought to be crazy, and they held the idea back...I haven't researched it to see if it is true but what a good example of bad foresight...
My/our first digital camera was a Kodak...still have it...still shoots great photos...
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wikipedia is back up!
 
Trace_Element said:
Heard on the news a few days ago, Kodak had a digital camera prototype ready to go in the late 70's or early 80's...but the CEO was thought to be crazy, and they held the idea back...I haven't researched it to see if it is true but what a good example of bad foresight...
My/our first digital camera was a Kodak...still have it...still shoots great photos...
Click to expand...

I believe Kodak holds the patent for the first digital camera from the mid 70's but sat on the technology because they sold virtually all of the film (until Fuji entered the market). Their failure can be blamed on mismangement not unions.

Its current equity value is about $600 mil. The value of its patents is about $3 B. It has a $1.2 B pension shortfall. Many of its patents are used in digital cameras and smartphones. Likely it will be the target of a takeover (Source Bloomberg).
 
Chance_G said:
I believe Kodak holds the patent for the first digital camera from the mid 70's but sat on the technology because they sold virtually all of the film (until Fuji entered the market). Their failure can be blamed on mismangement not unions.

Its current equity value is about $600 mil. The value of its patents is about $3 B. It has a $1.2 B pension shortfall. Many of its patents are used in digital cameras and smartphones. Likely it will be the target of a takeover (Source Bloomberg).
Click to expand...

I hope they survive or are bought by one of the "better" digital camera or smartphone companies...I have friends that work for Eastman, and at one time I did a lot of work for the Kodak film plant here...not even sure if it is still there, or what they are doing with it...
 
Trace_Element said:
I hope they survive or are bought by one of the "better" digital camera or smartphone companies...I have friends that work for Eastman, and at one time I did a lot of work for the Kodak film plant here...not even sure if it is still there, or what they are doing with it...
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Have you ever seen Kodak Park? I lived in Rochester briefly years ago and the image is etched forever. Near the intersection of Ridge Road and Lake Ave (Google Maps street view) there is a row of buildings that stretches forever and the openings where the windows would be are all bricked in. I was told they developed film there and used a lot of blind people to develop film. Kodak also had their own bank, a railway, and the merchants of Rochester lived for the annual Kodak bonus.
 
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