Jan 9, 2012
Last week’s Wall Street Journal article contends that Kodak is teetering on the brink of bankruptcy. Kodak would not comment on what it considers rumors,Â and that’s fairÂ given that the Journal’s story was based on unnamed sources, but last fall under similar circumstances Kodak put out a press release denying any intention to declare bankruptcy. This time around the rumors are looking like a distinct possibility.
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Nov 4, 2011
Kodak announced its third quarter 2011 financials yesterday and the picture is not a pretty one: sales down from Q3 2010 and a loss of $222 million. Kodak positioned the news as “Kodak Makes Steady Progress in Digital Transformation During Challenging Times.” The Wall Street Journal took a much dire view, saying “Eastman Kodak Co. warned Thursday that it will have trouble staying in business if it can’t squeeze more money out of its patent portfolio or raise new funds by selling debt.”
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Feb 5, 2009
The Wall Street Journal reported today that Kodak was planning to “seek partners to share the costs or possibly sell” the Kodak Gallery and NexPress businesses. In a conversation that I had with Kodak this morning, it became clear that the Wall Street Journal had misinterpreted Kodak’s statements and jumped to an incorrect conclusion about divestment. During the investor conference Kodak did say that it needed to transform and position its Kodak Gallery and NexPress businesses (it made the same point about image sensors and OLED businesses). Kodak, however, says that no mention was made of divestment. For NexPress, Kodak said that it intends to explore partnerships and alliances, as well as look at segmentation and licensing opportunities. Read more »