Caroline Tucker tweeted the following:
"A town hall meeting has been called for some Kodak employees for tomorrow morning. Trying to find out what it's about."
@news_8
Re-read the initial message of this thread... for "some" employees.
There is NO company wide town meeting. AP did not call one. There is only one group I know of that is having one. This thread is a red herring.
relax.
"There is only one group I know of that is having one. "
Is that the group of trusted junior officers who are issue riot guns and tear gas to keep the rebellious natives in check?
You mean "Joe" wasn't invited?
Dang-it!
"... It all goes to China if Samsung is the deal. ..."
I'd be surprised if Samsung took over the whole of Kodak, but as Mic yesterday pointed out a buyout of some business units would make sense. Consumer Inkjet seems a good fit ($147M in H1), where Samsung and Kodak already collaborate for color management; and possibly even the personalized imaging unit ($540M in H1; I understand Samsung is a provider of kiosks, too). Then Kodak would become a pure player in commercial print. I can't see that Samsung would want to move into the commerical printing domain, or take over the complete legacy of Kodak ...
A deal related to the consumer segment of Kodak may spice up the patent sale and AP/Quatela would walk away victorious, yet again. I don't have a feel about how much cash such a deal could generate for Kodak.
There is no profit in EK's forward statement., but I hope you are correct. Samsung will not tolerate 17% GP and all those smoke stacks running in empty buildings along the Ridge. It all goes to China if Samsung is the deal. I believe it is.
There has to be a major news announcement coming tomorrow A.M.
Why else would Kodak schedule company-wide town hall meetings on a half day notice to employees? They can't talk about the patent auction particulars until information is made public.
Relax everyone... The meeting is only about the financial report released Monday. No patent info to be release. Oh, its at 8:30AM.
No, the meeting is at 9AM.
And the email did not state what would be covered in the Town Hall meeting.
Nice try. Fail.
Nice...I'm sure during this Town Hall meeting that nobody will ask about the patent sale or anything distracting like that...it's not like the presenter or AP is going to have to repeated say that they are not priveledged to release those details...a little bit of a timing problem don't you think?
Very few of us here on the board believe Kodak is that stupid.
That's my belief, too.
But, the crazed Pro thinks otherwise, gonna have a huge hangover tommorrow.
link to the story or proof of above?
I still can't believe that any merger/acquisition/selloff would include voiding of the common. Sure, they don't really care about me, who bought in the 20 cent range, but what about retirees and others invested in the ESOP plan? They have lost a lot and have been hurt badly. If whatever goes on here includes more layoffs, that would only add insult to injury, and there would be a mob in Rochester ready to burn down the Kodak HQ. I'm sure some board members have old connections to Kodak and some undoubtably hold common. Destroying it all would seem extremely cruel to people who gave a lot of their lives to Kodak.
Yes it would. But the people who gave their lives to Kodak and hold common are no different to the people who gave their lives to GM, Chrylser, KMart, United Airlines etc who also held their common shares.
A Town Hall meeting at this level historically has been done to announce major structural changes.
If this was simply an annoucement of "good news" such as a patent sale, it would have been done via memo.
Regardless, we will have the meeting AFTER any press releases have been sent out. I'm thinking the release will be no later than 8AM tomorrow.
This is probably the same meeting that was originally scheduled over the weekend that I got via my blackberry and then removed (and of course I was accused of all sorts of things here...lol), and then was changed to Tues, then cancelled, etc.
So hopefully this is the real deal.
classic funny-nice 1
Packaged BK.
Suiter makes large equity investment and gets rights to patent IP. Unsecured creditors get 50% haircut. Secured creditors get $0.50 on the dollar plus equity in newly issued shares. Suiter get 20-40% of newly issued shares. Existing common is cancelled. AP and current BOD is replaced but get a handsome retirement package.
Chrysler and GM bk is the model for this one.
(or not...)
Ok Pro what is going to happen tomorrow?
I have said Kodak is either going to zero or $42-$38 in five years. I am unsure about what is going to happen tomorrow and clearly bought too early.
I have enough shares for the upside and won't throw good money after bad if the downside happens...