Eastman's Unlikely Legacy

[jackfengshui]

[This story might be of some interest to our Rochester friends.]

In 1994, Eastman Kodak spun off its chemicals business to help pay down debt. At that time, Kodak was still a colossus in photography whereas Eastman Chemical was a small player very much in its parent's shadow. But because of a sea change in digital technology and different approaches to business, Eastman Chemical's stock market value has since increased 71% to $5.5 billion today, while Kodak's has plummeted 99% to about $185 million.



Eastman Kodak is on the ropes and might not survive 2012. Ironically, George Eastman's name will live on in the "unglamorous" Eastman Chemical stepchild.

[offshoredrilling]

Kodak has sold, spun off, or threw away many parts of its self. Some not doing well, others ok. And some like EK doing great. If they kept all the parts(and let them do there thing) they would have been better off.

HSE, Health Safety & Environment. Started to sell what they did to other company's. Most area wines had there water(incoming and waste) and wines tested at Kodak at one time for a short time for example. Weather effects on area when things went wrong was done also. But as it was not Kodak related, it did not matter that a money drain dept. was making a profit. As Kodak did not need it, lay it off. Many small company's where made by the laid off workers.

Now if a division that is normally a cost to a company is making a profit. Why would you throw it away. Current Kodak fucking dumb.

[neversoft]

The entire article:

http://finance.yahoo.com/news/kodak-...48343.html?l=1

[NormalBob]

The leadership at Kodak should have read this book:



I think the bigger problem was probably the bonus system. Lots of cash to executives for short term performance and not enough incentive to reinvent the company for the next 50 years.

Sad to see MCC looking at the Kodak building as a potential downtown campus.

[offshoredrilling]

sad for Kodak. But a great thing for MCC. It will be better than the Sibley's bld. for them. But then what to do with the Sibley's bld.. Not much till ya get rid of the hoods that hang out.

Better is why does MCC need a down town or near by campus. Make the one in Brighton bigger.

[JONBALLS]

its all politics OSD, doesnt live in the realm of reality.

[jamesm637119]

It's all bad greedy management.

[JONBALLS]

Birds of a feather flock togethor'
http://www.whitehouse.gov/administra.../members/perez

[offshoredrilling]

Originally Posted by JONBALLS

its all politics OSD, doesnt live in the realm of reality.

PC BS politics

[jackfengshui]

Eastman Kodak stocks closed last Friday at $0.37 (down from $5.70 a year ago) and might be delisted by the NYSE.

[offshoredrilling]

I wonder if the silver at KP(kodak park) is worth more than the owner. Jack do ya know how may shares are out there.

[jackfengshui]

Originally Posted by offshoredrilling

Jack do ya know how may shares are out there.

270 million outstanding shares.

[offshoredrilling]

dam I can not find how much silver is there. been there I know its a lot. I did find that kodak will not buy less than 3000# shipments.