The death of Kodak

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Matt
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Kodak moves to end health coverage for retirees 65 and older
A hearing on the Kodak motion is scheduled for March 20 in New York City before U.S. Bankruptcy Court Judge Allan Gropper. The move, if approved, would affect about 16,000 Kodak retirees worldwide — many of them in the Rochester area — and save the company $13.7 million this year and about $20 million a year after that.

About 23,000 Kodak retireees live in the Rochester area, though the company said it didn’t know how many of those would be affected by the change.

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Matt
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Kodak to cut another 1,000 positions by year's end
Looks like from the "personalized and document imaging businesses."
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Matt
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Kodak increasingly burning through cash

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The rate at which Eastman Kodak Co.'s bankrupt U.S. operations are burning through their cash picked up sped in August.

The printing and imaging company’s latest monthly operating report, required as part of its reorganization under Chapter 11 of the bankruptcy code, shows that it ended August with $345.8 million in cash and cash equivalents socked away. That’s roughly $92 million less than it had at the end of July.

In previous months, the company’s U.S. operations had been going through roughly $70 million a month.
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Matt
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Kodak reportedly arranges financing to exit bankruptcy
Eastman Kodak Co., the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations.

Centerbridge Capital Partners, GSO Capital Partners, UBS AG and JPMorgan Chase & Co. are among second-lien creditorsparticipating in the financing, said the person, who asked not to be named as the discussions are private. The agreement requires court approval.
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So... kodak.... you have decided that after failing to realize that the analog film industry was dying, and diving your business model into worthlessness, you will be resurrected as a commercial printing company, at the dawn of portable digital displays? Haha. Now you really you deserve to die off.
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ApproachingLight
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With all the intellectual brain power, with all the patents, you would think they would take a spin on a few new ideas.

Really sad. The Rochester skyline, once with Kodak, and Xerox and Bausch, now highlighted with Health companies and Law offices. Not good for our future.
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Matt
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yeah it's not good when we aren't exporting.
We don't really export healthcare... that's primarily self-sustenance.
Although the UofR does have a lot of patents, and they do bring in patients from all over the country... it's not in huge numbers.
B&L does great business outside of the USA and it's pretty amazing how they are the ONLY trusted contact solution brand in Asia.
Paychex is doing well and branching overseas, but I wonder how long before it moves out.
Xerox has a ton of patents... but their core is still printing.

It's pretty safe to say at this point that printing on paper will soon be a thing of the past. It's nothing to base a business model on. It's nothing someone would or should invest in. Yes, printers will be around for a long time. Especially local, full-service printers. But kodak's model was based on paper before, and it failed miserably because they failed to realize the market had lost growth. Printing will remain, but will not have growth.

Kodak should be working on digital paper, digital imaging (especially for transition of film archives to digital), Photoshop processing (it used to have the best plugins), and medical imaging (re-absorb Carestream)
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now highlighted with Health companies and Law offices. Not good for our future.
oh. you mean like Buffalo. :(
What lies behind us and what lies ahead of us are tiny matters compared to what lives within us. ~Henry David Thoreau
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Matt
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A new kodak camera that will work with Olympus and Panasonic Micro4/3 lenses?

That's the news out of Asia
http://www.theverge.com/2013/1/18/38898 ... 012-launch

The thing is that Eastman Kodak had nothing to do with it. Their name is licensed through a broker, and in this case the camera is made by Chinese electronics manufacturer. Kodak is just a purchased brand name to give their little known company some credibility.
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