Kodak Closer to Bankruptcy?

– Kodak could file for bankruptcy in the first few months of 2012 if it can’t get financing or sell its patents. That’s according to the Wall Street Journal in an article behind a paywall. Reuters picked it up and cited the WSJ as saying Kodak can’t get the $900 million it needs; hedge funds are willing to loan $600 million to $700 million.

In its third quarter earnings report, Kodak warned it would run out of cash in 2012. The company has said it has no intentions of filing for bankruptcy.

Meanwhile, almost every major media outlet in the country has written Kodak’s obituary, including a recent piece from the Los Angeles Times titled Kodak’s Long Fade to Black and a New York Times story saying Kodak jumps “from one buggy whip business to another.”

– Mike Green’s bid for a federal judgeship is over. The White House will not renominate him after he was blocked in the Senate. It’s not clear where Green will land. We hope to hear from him today.

– A study in the journal Pediatrics found nearly one-third of people will be arrested by the time they’re 23. “Society is a lot less tolerant of these teenage behaviors.”

Part two of the Washington Post’s story following up on “The Dreamers,” fifth-graders who were promised a free college education in 1988. “When they weren’t traveling on their exclusive school bus, the Dreamers returned to communities rife with drugs and gang-related carnage.” Part one ran yesterday and I questioned tuition incentives.

– Skaneateles High School canceled a major dance because kids wouldn’t stop “grinding.” The school was rather creative in its failed attempt to get kids to dance like grandma’s watching.


4 responses to “Kodak Closer to Bankruptcy?

  1. Hi Rachel. One observation:
    Does WSJ frequently run articles (like this sucker-punch of Kodak) that contain not one single on-the-record attributable quote? Sounds like bidders for EK’s patents are manipulating the WSJ, too.And WSJ is gleefully spreading falsehoods it can’t support through traditional journalistic standards. So re-posting the unattributed speculation isn’t in anyone’s best interest. Thank you.

  2. Dave, the WSJ is a premier media outlet in the country. Nothing they’ve reported so far has been unproven. Kodak itself said it would run out of cash.

    Sometimes the only way to get information – important information – is to use anonymous sources.

  3. i always knew there would come a time when Kodak would file for bankruptcy even Kodak is expendable they went from 60 to 80 thousand employees worldwide back in the 1980’s to just over 9 thousand people now it’s a foregone conclusion they have tried thru the years to stay step ahead of everybody else even with today’s technology they still cant compete I’ve said it all along either they’ll file for bankruptcy or be bought out by another company

  4. Sad to see. I have to say about 2 months ago, I received two Kodak printers from the Amazon Vine program. One worked and the other didn’t which I put into a review at the website. Kodak printer execs not only phoned me but made sure that the printer was fixed. Without their asking, I was able to give a very positive review of their printer. It was very nice to be able to have contact with people who cared if I had a product that was defective or not. Kodak does care and that counts somewhere.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s