Thursday, January 5, 2012

A Not So Kodak Moment


Antonio M. Perez is the CEO of Kodak and a member of the current regime’s Council on Jobs and Competitiveness. This seems like an obscene oxymoron given the fact that the 131-year-old company is preparing to seek bankruptcy protection—something that The Wall Street Journal describes in its piece today as “a move that would cap a stunning comedown for a company that once ranked among America’s corporate titans.”

Kodak has lost money each year but one since Mr. Perez, who previously headed the printer business at Hewlett-Packard Co., took over in 2005. The company's problems came to a head in 2011, as Mr. Perez's strategy of using patent lawsuits and licensing deals to raise cash ran dry.

Kodak shares closed Wednesday at 47 cents, down 28% after The Wall Street Journal reported the company was preparing a Chapter 11 filing.

Via a thread at Memeorandum.

UPDATE:  1001 Noisy Cameras posits this interesting speculation:  “GE has shown an interest in digital cameras as they recently launched their own brand of entry-level to mid-level fixed lens digital cameras. Since GE is interested in this segment, and since they already have a number of well-known brands under the GE umbrella, it would make sense for them to buy Kodak—in terms of branding.”
[SNIP]
“Plus, it would give GE a lot of good PR among consumers—especially after last year's revelation that even unpaid bloggers paid more in taxes than GE :)”
Just a reminder, folks, Jeffrey Immelt is the chair for the Council on Jobs and Competitiveness and CEO of GE.

2 comments:

  1. This comment has been removed by the author.

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  2. It doesn't sound good. I do believed that Kodak company is the root of the growing digital cameras world now. In fact their cheapest dslr cameras are still available in the market.

    ReplyDelete

Please scribble on my walls otherwise how will I know what you think, but please don’t try spamming me or you’ll earn a quick trip to the spam filter where you will remain—cold, frightened and all alone.

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