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Classifieds & News => Prepress News => Topic started by: Duffy on January 19, 2012, 08:36:52 AM

Title: Kodak files for Chapter 11 Protection
Post by: Duffy on January 19, 2012, 08:36:52 AM
http://www.scribd.com/doc/78741445/Eastman-Kodak-s-Chapter-11-petition (http://www.scribd.com/doc/78741445/Eastman-Kodak-s-Chapter-11-petition)

Truely a sad day.
Title: Re: Kodak files for Chapter 11 Protection
Post by: Slappy on January 19, 2012, 10:48:28 AM
Yup, but who didn't see this coming? Shouldn't affect us in the print side, hopefully. Oh, and their damage control is already on top of it - see attachment.
Title: Re: Kodak files for Chapter 11 Protection
Post by: Joe on January 19, 2012, 10:59:09 AM
Quote from: Slappy on January 19, 2012, 10:48:28 AMYup, but who didn't see this coming? Shouldn't affect us in the print side, hopefully. Oh, and their damage control is already on top of it - see attachment.

Got my letter bright and early this morning too. Without a change in management philosophy though I can't see it improving much for them.
Title: Re: Kodak files for Chapter 11 Protection
Post by: Farabomb on January 19, 2012, 12:33:29 PM
Seeing as after repeated requests they still haven't changed my email address so I didn't get the letter.
Title: Re: Kodak files for Chapter 11 Protection
Post by: Joe on January 19, 2012, 12:46:33 PM
Would you like me to send you a copy?
Title: Re: Kodak files for Chapter 11 Protection
Post by: Slappy on January 19, 2012, 04:12:06 PM
I have to wonder how this news was viewed at the 2012 GUA Conference thingy that's going on this week in New Orleans.  :laugh:
Title: Re: Kodak files for Chapter 11 Protection
Post by: Joe on January 19, 2012, 04:17:38 PM
Quote from: Slappy on January 19, 2012, 04:12:06 PMI have to wonder how this news was viewed at the 2012 GUA Conference thingy that's going on this week in New Orleans.  :laugh:

I'm sure Kodak put a cheery spin on it like they did in that email.
Title: Re: Kodak files for Chapter 11 Protection
Post by: t-pat on January 19, 2012, 04:23:50 PM
at least they're not Zion, IL. Town is selling off City Hall to cover debt.

Chapter 11 is just a business tool. They'll shed some debt and be able to make a better go of the parts of their business that are profitable. There's a joke about filing chapter 22 (2nd chapter 11) or even chapter 33. The auto makers seem to be able to do this regularly and still produce and sell cars and trucks.
Title: Re: Kodak files for Chapter 11 Protection
Post by: gnubler on January 19, 2012, 04:52:54 PM
So what's John OGrady's annual salary & bene package?
Title: Re: Kodak files for Chapter 11 Protection
Post by: Joe on January 19, 2012, 05:05:58 PM
Quote from: gnubler on January 19, 2012, 04:52:54 PMSo what's John OGrady's annual salary & bene package?

I'll bet he's not hurting.
Title: Re: Kodak files for Chapter 11 Protection
Post by: Slappy on January 24, 2012, 01:58:14 PM
Moderately interesting take (http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/20/bloomberg_articlesLY23M00D9L3501-LY2JM.DTL) on the whole deal. I'm particularly fond of this quote near the bottom of the first page:

"The amount of pain that printers and printing companies are going to take over the next five years is immense."

Well, isn't that just a rosy prediction!  :banana:
Title: Re: Kodak files for Chapter 11 Protection
Post by: Farabomb on January 24, 2012, 02:25:37 PM
Too bad it's painfully true.