[Frameworks] Kodak finally files for bankruptcy

[Tim Halloran]

Good points. It is truly tragic what is likely to happen to the pensions of hard-working folks while those incompetents at the top will certainly make out like bandits. But I really do hope, as you said, that the film side of the business emerges as a new leaner, meaner self-contained, and profitable, entity. Unfortunately, we might lose a few stocks on the way though.
 
Tim
 



Date: Thu, 19 Jan 2012 10:04:17 -0800
From: info at 40frames.org
To: frameworks at jonasmekasfilms.com
Subject: Re: [Frameworks] Kodak finally files for bankruptcy




On Thu, Jan 19, 2012 at 4:19 AM, Robert Schaller <robert at ontosmedia.com> wrote:

http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/?hp




Kodak restructuring is a good thing, as the current model is clearly not feasible.  

Bankruptcy court protection will allow Kodak to carve up the company and sell intellectual property, but also get out from 
under their debt obligation to employee pensions. Meanwhile, Perez and the executive team is stuffing money in their pockets. 

The motion picture division will likely continue in some shape or form, and would probably benefit from Eastman Chemical or 
a similar company coming in to manufacture and sell the product. MP product would be better off if separated from Perez's
Kodak.   


Alain

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