TTQ B4U Posted January 6, 2012 Report Share Posted January 6, 2012 http://www.reuters.com/article/2012/01/05/us-eastmankodak-idUSTRE8031TQ20120105 Wed Jan 4, 2012 8:51pm EST (Reuters) - Eastman Kodak is preparing a Chapter 11bankruptcy protection filing in case it is unable to sell its digital patentsto raise capital, The Wall Street Journal reported on Wednesday. The once-iconic photographic film pioneer is intalks with potential lenders to secure about $1 billion in debtor-in possessionfinancing to sustain Kodak through bankruptcy proceedings, the Journalreported, citing unidentified sources. The Chapter 11 filing could come as soon as thismonth or early February, the newspaper said. Kodak shares fell about 28 percent to 47 cents onthe New York Stock Exchange following the online report, which dampenedinvestors' hopes that the company could arrange a quick sale of its patents ora financing lifeline to keep it afloat. A spokesman for Kodak declined to comment, sayingits policy is not to comment on market rumors or speculation. Kodak warned in November that it might not survive2012 if it was unable to secure $500 million in new debt or sell its patents.The company's cash had been shrinking as sales of its consumer products havefailed to keep up with its heavy cost base, which includes employees andoffices around the globe. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted January 6, 2012 Report Share Posted January 6, 2012 Saw that on the news the other night. You would have thought they would have been ahead of the curve or been able to catch up to the new digital age of photography. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted January 6, 2012 Report Share Posted January 6, 2012 Why buy patents for market-value when they can be bought at liquidation for far cheaper? NPR has been discussing this for a while. The scary thing is they were the first to bring digital photography to market. The scarier thing is the $2 BILLION in retirement pension costs that will need to be supported by state government. Quote Link to comment Share on other sites More sharing options...
Rally Pat Posted January 6, 2012 Report Share Posted January 6, 2012 *shrug* Survival of the fittest, adapt or die. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted January 6, 2012 Report Share Posted January 6, 2012 Why buy patents for market-value when they can be bought at liquidation for far cheaper? NPR has been discussing this for a while. The scary thing is they were the first to bring digital photography to market. The scarier thing is the $2 BILLION in retirement pension costs that will need to be supported by state government. Big business must have been great back then. Insurance, retirement pensions, profit sharing. So now we are suppose to pay for all the fun our parents had? Quote Link to comment Share on other sites More sharing options...
RyM3rC Posted January 6, 2012 Report Share Posted January 6, 2012 Big business must have been great back then. Insurance, retirement pensions, profit sharing. So now we are suppose to pay for all the fun our parents had? Yes, apparently we are. Thanks for the lack of foresight assholes! Insert GM joke here. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted January 6, 2012 Report Share Posted January 6, 2012 I smile everytime my parents talk about their pensions and in the same breath speak about how its easier than ever to get a good paying job and how it was so rough back then. Quote Link to comment Share on other sites More sharing options...
RyM3rC Posted January 6, 2012 Report Share Posted January 6, 2012 Yeah, I don't know how many times I've heard the "Just find a good company and put in your 30 years" from old people who retired well into six figures doing normal white-collar jobs. OMG, you don't get 10%/year raises everywhere anymore? Nope, execs figured out they could make more by screwing everyone else. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted January 6, 2012 Report Share Posted January 6, 2012 I dont know where I would even begin to look for a job I thought I could put in 30. Do companies like that even exist? True maybe with a degree there are careers and companies where this was possible but they fail to realize its not the same if you have to spend x amount of dollars and years to potentially get a job where this is possible. I would have gladly went to school if I would have been guaranteed a potential 30year career somewhere or even if I could have known if it didnt work out there was another place to apply at with the same requirements. I remind my dad(both parents have been with their companies 35+ years) that he started out as a janitor and moved his way through the company. I dont think if I started out as a janitor in 30 years I am working my way througha company with so many eduacted people in the way. Is it possible, sure, but likely? Quote Link to comment Share on other sites More sharing options...
RyM3rC Posted January 6, 2012 Report Share Posted January 6, 2012 Seriously, two of the highest paid people I know started at the ground-floor with no training or experience, and put their time in at big companies. Now many places will just show you the door when you make too much, because everyone is replaceable. It's okay, the .gov will bail everyone out at the expense of everyone else. Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted January 7, 2012 Report Share Posted January 7, 2012 Sad to see but they didnt jump in to the digital era with both feet until it was to late. I have been hearing and reading about this since 2004. It nice to see that they hung on for this long though. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 7, 2012 Author Report Share Posted January 7, 2012 I smile everytime my parents talk about their pensions and in the same breath speak about how its easier than ever to get a good paying job and how it was so rough back then. In reality it is easier to get a higher paying job. My parents did quite well for themselves but I was making more at age 30 than my father did by far. However, I also paid 2x what their first house did for my car and over 10x what their first house cost for mine. Quote Link to comment Share on other sites More sharing options...
Murse Posted January 7, 2012 Report Share Posted January 7, 2012 it wasnt that long ago that they stopped producing the chemicals for kodachrome :(now they are gone forever. i guess ill have to stock up on some 35mm just to have for old times sake. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 7, 2012 Author Report Share Posted January 7, 2012 it wasnt that long ago that they stopped producing the chemicals for kodachrome :(now they are gone forever. i guess ill have to stock up on some 35mm just to have for old times sake. I didn't think there were many nurses that huffed that stuff :masturboy: Quote Link to comment Share on other sites More sharing options...
wagner Posted January 7, 2012 Report Share Posted January 7, 2012 Knew about this a while ago, we did some of the research on this for a law firm. Quote Link to comment Share on other sites More sharing options...
Murse Posted January 7, 2012 Report Share Posted January 7, 2012 haha no i grew up around film and photography. hell there is all the stuff to have my own dark room up in the attic, besides the chemicals. my mom did ALL the film developing when she was at Icon and dad has been doing photography since HS but not as much for the now. Quote Link to comment Share on other sites More sharing options...
WrxRcr Posted January 7, 2012 Report Share Posted January 7, 2012 When your main product is film your a little behind the times. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 7, 2012 Author Report Share Posted January 7, 2012 When your main product is film your a little behind the times. Actually film and entertainment has been the smallest of the three divisions within Kodak and has been since their restructuring began in the mid to late 90's. I made great money with them for years in the medical imaging arena. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 14, 2012 Author Report Share Posted January 14, 2012 In commemoration of its 75th and final year, a documentary look at the first color film and the last lab in the world still processing it. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted January 19, 2012 Author Report Share Posted January 19, 2012 http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/ Quote Link to comment Share on other sites More sharing options...
Bigbird Posted January 20, 2012 Report Share Posted January 20, 2012 Seriously, two of the highest paid people I know started at the ground-floor with no training or experience, and put their time in at big companies. Now many places will just show you the door when you make too much, because everyone is replaceable. It's okay, the .gov will bail everyone out at the expense of everyone else. Exactly what happened to my dad. He was with Met Life insurance for a long time, went to Progressive in the mid-90's and was with them for about 10 years and started making 6-figures. They decided they could pay some young gun half his salary and gave him the boot. He did all of this with a high school diploma. Now he's struggling to juggle his new job making less than half of what he used to, with going to school at night at his local community college. He often makes comments about me making more than him, and while I don't think that's quite the case, it might be close. I'm proud of him for getting back into school, but at 54 it's got to be tough to motivate yourself to start back at the bottom. Quote Link to comment Share on other sites More sharing options...
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