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  • gameismakingmoney gameismakingmoney Aug 23, 2012 4:25 PM Flag

    Translation of Business Wire Release by EK

    Here's the headline:
    Kodak Takes Next Steps toward Successful Emergence

    Company to Focus Primarily on Commercial, Packaging and Functional Printing Solutions and Enterprise Services

    Initiates Sales Processes for Personalized Imaging and Document Imaging Businesses

    Discussions Continue on Digital Imaging Patent Portfolio, which May Be Sold or Retained

    Here's the translation, a line at a time:
    1. Kodak is fighting for survival, which is by no means assured.
    2/3. The Document Imaging, Kiosk, and other businesses on the chopping block have to be THRILLED! If buyers can be found, they'll have escaped the EK soap opera.
    4. The digital patent portfolio will be retained. ("...May be Sold or Retained..." is foreshadowing for "...Will be Retained...").

    So, since the IP auction was unsuccessful, they get to pay all the lawyers and consultants, and move on with the task of getting smaller.

    Managers will probably come out with another bonus plan next week.

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    • At a recent high-level meeting,"people close to the source" said a very high official was heard to say
      ,"We must hold on till Christmas when Santa arrives" He gave up on Tinkerbell.

    • How will this affect tomorrow's share price? Will we ever see $0.60 again? $0.40?

    • I'm waiting for the pumpers to spin this. Come one Pro, who is the MORON now? If billions were still sitting on the auction table this PR would never been issued. Kodak has admitted that the auction was a failure and they're now working alternate solutions. While Kodak still might survive in some form, the lottery ticket many of you thought you were holding will likely turn out to be worth just what 99.9999% of most lottery tickets are worth. Zero!

    • Document Imaging is Kodak's most profitable business on an earnings as a precent of revenue basis. This means they need to raise cash by selling the next most valuable asset after the Patents. It is worth 400M. Kiosk (RSS) is worth between 200-300M and Paper and output is 300M. Buyers could be PitneyBowes for DI, DaiNippon for the other two in a package deal. EIS is the santa clause business you saw in the mall and thrill ride pictures at Disney and Universal. Probably worth 40M tops (Maybe Pro will buy it from the profit he made on EK/EKDKQ.PK/EKDKQ).... So Basically, there is a Billion if they can execute the sales.