The death of Kodak

[Matt]

Kodak wants to take name off Hollywood theater

http://www.democratandchronicle.com/art ... ext|Home|s

[Matt]

Kodak to layoff 80 employees in Gates

The fallout from Eastman Kodak filing for Chapter 11 bankruptcy protection continues.

News10NBC has learned that 80 employees at Kodak's Manitou Road facility in Gates will be laid off. Another 80 employees at a facility in Ohio will also lose their jobs.

For more Rochester, N.Y. news go to our website www.whec.com.

http://www.whec.com/news/stories/S2485795.shtml?cat=566

[Matt]

Kodak to stop making cameras, digital frames

ROCHESTER, N.Y. – Kodak says it will stop making digital cameras, pocket video cameras and digital picture frames in order to focus on its more profitable businesses.

So what two things will they concentrate on instead?
[spoiler]photo printing and desktop inkjet printers.[/spoiler]

[hobkyl]

Nearly half of Fox news tonight has been dedicated to Kodak.

[Matt]

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.

http://www.democratandchronicle.com/art ... ext|Home|p

[Matt]

Kodak to cut another 1,000 positions by year's end
Looks like from the "personalized and document imaging businesses."
http://www.democratandchronicle.com/art ... umbrella|1

[Matt]

Kodak increasingly burning through cash

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.

http://www.democratandchronicle.com/art ... |text|Home

[Matt]

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.

http://www.democratandchronicle.com/art ... 311120025/

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.