County Legislature committee signs off on plan to buy space at Eastman Kodak Co. headquarters
Just my analysis. A company in BK that was about to change hands or go belly up could not come to a decision like this. This kind of planning would have gone to the next party of interest.
If EK was going belly up, Monroe County would have second thoughts about going there because legal issues can be devastate your best intentions.
Shorts, something telling Longs EK is here to stay.
January 29, 2013
Legislation authorizing Monroe County to buy space at the Eastman Kodak Co. headqurters on State Street for a new Monroe Community College sailed through a County Legislature committee Tuesday.
The Recreation and Education Committee voted 4-1 in favor of the measure, which would endable the county to spend $3 million on five buildings totaling nearly 562,000 square feet and 439 parking spaces
The measure will be considered by the Ways and means Committee on Wednesday and is not expected to face any serious opposition.
Issue is about Common survival and with bonds trading at 13/14.. forget about it. Additionally, the property could be sold even if EK was sold or went Chapter 7 and out of business; the Chapter 11 proceedings ensure against any real property fraudulent conveyance.
You should really start analyzing Kodak impartially instead of looking for any crumb to justify your holding. Any rational investor as well as the Street places correct value on this stock: .18-.25 for trading until .00 if and when Kodak emerges from Chapter 11.
Selling the property to MCC has no bearing as an indicator to the future viability of EK. Once sold to MCC it's sold. No "legal ramifications" if they weren't healthy later. I suppose all the other properties sold along the way were also a great predictor of the health of EK? Ridiculous conclusion made. Grabbing at straws to calm your "nervousness"? :-P
Whatever proceeds EK gets will go to one creditor or another.
By the way, for any of you out there working in the private sector:
1. How focused could your company be if the top officers were CONSTANTLY involved in legal matters?
2. How competitive would your company's product portfolio be if NO INVESTMENT were being made?
SBG, no one really cares if EK is here to stay or not. Doesn't matter to current common shareholders.
What does matter and the point that you and your alias's (jughead and up_yours) are missing - and the ONLY thing that does matter - is what happens to common shares.
And EK will be cancelling the current common shares and issuing new ones because they need the CASH!!! Every effort by EK to raise critical cash has missed the estimate by 80% or more!
Like I said before I will be at the head of the line to buy the new shares after they cancel current and issue them.
WAKE UP FOOL!
SBG, I have already won and you have lost!
Remember where you heard it first - this PPS is going to ZERO!