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.
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ReplyDeleteIt 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