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Kodak on the Ropes

1K views 10 replies 6 participants last post by  eMacMan 
#1 ·
Not really new news but last Friday Kodak closed at under 40¢ a share. The peak was in the high $60s back in 1997.

Anyone who watched Super 8 and 8mm films disappear from the store shelves within three years of the introduction of the video cam, knew that a similar fate was coming for film once digital cameras took hold. By 2004 inexpensive point and shoot digital cameras could produce high quality photo prints right up to 5x7 and with most subjects even 8x10s. Kodak bread and butter was almost entirely film and paper manufacturing and sales. They were far too slow reacting to a change they had to see coming.

Will be interesting to see if Kodak can indeed re-invent itself. Was forced to use one of their digital print Kiosks the other day and was pleasantly surprised at the results even though I would have much preferred a traditional silver based print.

If Eastman Kodak Co. Eastman Kodak Co. Latest from The Business Journals Kodak focuses on bankruptcy preparations Kodak preps Ch. 11; Kodak preparing to file for bankruptcy. If Kodak carries through with a Chapter 11 bankruptcy filing in the coming weeks as media reports suggest, it could mark the end of a rich, 131-year history as the king of all-things related to photos and cameras, according to a report by MarketWatch.com.

In the report, Rafferty Capital Markets Analyst Mark Kaufman says the company likely will completely exit the consumer photo and camera business.

"Forget about it. It's not making money now," Kaufman, told MarketWatch.com.

Instead, the plan would be for Kodak (NYSE:EK) to sell off all of its photo business, unload an extremely profitable chunk of its massive patent library and focus almost exclusively on digital printing as a business-to-business company.
Entire article here:
Report: Kodak to focus on printing after bankruptcy - Dayton Business Journal
 
#2 ·
Not really new news but last Friday Kodak closed at under 40¢ a share. The peak was in the high $60s back in 1997.

Anyone who watched Super 8 and 8mm films disappear from the store shelves within three years of the introduction of the video cam, knew that a similar fate was coming for film once digital cameras took hold. By 2004 inexpensive point and shoot digital cameras could produce high quality photo prints right up to 5x7 and with most subjects even 8x10s. Kodak bread and butter was almost entirely film and paper manufacturing and sales. They were far too slow reacting to a change they had to see coming.

Will be interesting to see if Kodak can indeed re-invent itself. Was forced to use one of their digital print Kiosks the other day and was pleasantly surprised at the results even though I would have much preferred a traditional silver based print.



Entire article here:
Report: Kodak to focus on printing after bankruptcy - Dayton Business Journal
Heard the same news, eMacMan. I find it quite sad. I did my student teaching in Rochester, NY, and taught for a year in a high school just outside of Rochester, the home of Kodak. I would have to say that 75% of my students had one or both parents working at Kodak, and most had what they felt were good jobs at a good pay (they were all earning more than I was as a first-year teacher). Some of my students aspired to be Kodak employees. This was 40 years ago, so many of these students are most likely retired from Kodak. Guess their children would be the last of the Kodak-generation. Sad ......... :(
 
#3 ·
It's a sad story of being too slow to innovate and change, from a company who innovated in the golden age of film photography.

Sure, they marketed some digital cameras, however none of them seemed to hold up to the quality reputation they had for film, and thus cheapened their brand.

I would be saddened to see the icon of an industry disappear...
 
#4 · (Edited)
Ironically the Kodak z915 digital camera is an excellent digital camera. A solid step up from cheap point and shoots but smaller and much less expensive than DSLRs. Well built, very short shutter lag and a rock solid anti shake technology pared with an excellent ten to one zoom lens. Also complete and very user friendly controls. Would have loved to see this one evolve a bit more.

One of Kodaks handicaps in marketing quality digital cameras, was a forty year history of making inferior plastic cameras aimed squarely at the kiddie market and depending entirely on aggressive marketing for any sales success. It was only after failing to find what I wanted with Canon, or Nikon that I discovered the z915. My reticence to look at Kodak was based entirely on the 110, disk cameras and so on. It never occurred to me that they might make a decent digital camera.
 
#8 ·
Current plans seem to indicate they will discontinue all non business to business products.

I do think there is a place for them in the home consumer market. But probably more in the step above the low end.
 
#6 ·
I think I have the same printer. I got it as a Christmas gift. I really like it so far. Nice quality prints and I love the whole wireless printing thing too!!!

Maybe we'll have to stick up on ink if they go belly up? I really hate to see this happen to such an icon.

Also here in Toronto, years ago they had a factory just off Black Creek Dr. (I think that's where it was... I don't know street names in that part of town) but they had a huge factory there. And one of the streets is called Photography Way or Dr.. I think the site is abandoned or a No Frills now. Sad.
 
#7 ·
Empty lot now?

Also here in Toronto, years ago they had a factory just off Black Creek Dr. (I think that's where it was... I don't know street names in that part of town) but they had a huge factory there. And one of the streets is called Photography Way or Dr.. I think the site is abandoned or a No Frills now. Sad.
Yep your right Chimpur, Photography Dr. close to Eglinton Ave W & Black Creek Dr
Toronto. The No Frills is opposite of the lot on the south side. I think there is nothing left on the old Kodak lot, it's hard to tell with the treed lot. I work near there so I might go check the area out. Searching the web I did see some cool shots of the abandoned plant. Use to get my slides printed there plus had a photography tour through my work years (and years) ago. I miss slides but not the time or money it took to get developed or bought.
 
#10 ·
Now official. Kodak has declared bankruptcy. Second thread under the photography section.

http://www.ehmac.ca/photography-focus/98962-kodak-declares-bankruptcy.html

Sadly since a sizeable chunk of Kodak liabilities relate to pension plans, expect to see a lot of lifetime Kodak employees lose some or all of their pensions.

I think it is time to make it illegal for corporations to borrow from employee pension funds, nor should they be able to fund them with promises or fund them entirely with stock in the company.
 
#11 ·
Another casualty. Kodaks name will no disappear from the theatre that is home to the Academy Awards. The failing giant cannot afford the annual fee.
 
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