Kodak Filing For Bankruptcy ??

[bruce282]

I heard on the radio this morning that Kodak has retained a law firm, denies it is getting ready to file for bankruptcy.

Hope it's not true, I love their B&W films.


Bruce

[TPF Sponsor]

[compur]

Kodak 9/30/2011 said:

“in response to rumors circulating in the capital markets ... Kodak is committed to meeting all of its obligations and has no intention of filing for bankruptcy. ..."

Full press release here.

[Derrel]

Yeah, and the Beatles said they'd be together forever...then John hooked up with Yoko Ono...

[ChristopherCoy]

The same story was on Yahoo news on the 30th.

Kodak shares plunge as bankruptcy fears escalate - Yahoo! Finance

[compur]

Time to stock up on Kodak film!

[ghache]

i have about 130 rolls in the fridge! im good

[compur]

Buy more film! When Kodak goes belly up you can sell it on eBay and make a fortune. Hurry!








(Disclaimer: the author of this post has no clue what will happen in the future and nothing
in this post should be construed as investment advice.)

[2WheelPhoto]

Back in the 80's when we were shooting some film for fun in europe I'd have not bet on fuji-film being around longer than King Kodak.

[JosephKubik]

The day Kodak goes under will be a sad day... then people with massive stocks in their freezers will be filling ebay with the extinct product.

[compur]

Yes, you should buy more Kodak film now and stock up!

[JosephKubik]

I already put in my order for 100' of Kodak Portra, T-max, and Tri-x... should last me a few months, I hope.

[MLeeK]

They've been hinting at this FOREVER... It will come to pass sooner or later.

[Derrel]

"Every dinosaur has his day."

Buggy whip makers went under. "Hurricane" lamp makers used to sell millions of lamps every year...then along came electricity and the incandescent bulb. Muzzle loading firearms gave way to cartridge loaders. Glass plates gave way to film.

Kodak has announced that it will soon stop making 35mm motion picture film, since now video has taken over the role of film in the movie and documentary biz. The 8-track tape is dead. Sony's Betamax is dead. VHS is basically dead. People buy 99 percent of their music as downloads now, not tapes or vinyl records. Even though all the things above are not commonplace as they once were, they're still obtainable, with the right sources and some persistence at locating sellers. (Well, not sure about glass plates, ready-made, but maybe???).

Kodak is not the only imaging company in dire straits--Olympus is in grave danger.

As far as Kodak filing for bankruptcy, there was a really good article on Kodak's many,many missteps and ridiculous efforts at creating markets in which they wished to become competitive in. This article was written by Ctein,and must have been published on The Online Photographer (TOP) in September I think. Kodak has been shedding divisions, and tens of thousands of employees for the last 15 years or more. Kodak was once a huge, diverse company--and one that made a long series of critical mistakes and failures to adapt,and those miscues were terribly costly for the company and its investors. It seems to me that the management never really was tuned in to the "real world"...they just made loads of stupid business decisions. Over and over and over again. And, the biggest blunder was their failure to prepare for digital imaging to take over the film business as quickly as it did, and then, to try and deny, or head-in-sand it out...

Kodak really probably ought to be closed down, and several NEW business names created...it's a brand from the past...almost like an outdated car maker name like "Humpmobile" (a real name for a real brand of cars!!!)--a brand that has an "old-school" association, and not in the good way, like an old brand of beer or whisky, but of an archaic, outdated, out of touch sort. Like some brand of old-timey patent medicine, or whale oil for lamps...

[dots]

What would you suggest is the most profitable sector for Kodak these days, Derrel?

[MLeeK]

Derrel is right. I actually expected to see Olympus file before this... I suspect it will come before the official Kodak announcement