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EASTMAN KODAK CO Message Board

  • felixangelcer@hotmail.com felixangelcer May 1, 2013 3:27 PM Flag

    GAME OVER

    STOCKS WILL BE CANCELLED

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Cancelling a stock does NOT mean that stockholders will get nothing.
      This may in fact be the case, but typically there is a small percentage that goes to the shareholders in a bankruptcy. Typically this is done to prevent the corporate board and CEO from destroying even more value from the bondholders, i.e. legal blackmail.

      This was the case of Visteon corporation in the recent past, and is actually pretty typical in bankruptcy cases where there are significant assets controlled by the company like EK.

      However, in this case, because EK went to the courts when they had money rather than negotiating with the bondholders up front, there might be nothing for the shareholders. If true, this would be yet more proof in the incompetence of the current CEO and board in failing to do their job of protecting their shareholders.

      Sentiment: Hold

      • 1 Reply to he9412
      • Forget about it--stockholders will get zippo. They are always last in line, regardless of what the B-school profs told you. It is laughable to think about the theory that stock options incentivize management. All they do is insulate management from the reality faced by everyday workers. (Please don't try to tell me the BOD acts as a check on this. There are hundreds of examples where the BOD acted as a rubber stamp.)

 
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