He's such a legendary figure, he cannot show his face in public. AP paints himself a hero, yet the rest of us know better. A fraud for the ages.
To think that anyone would sign on for AP's b.s., it's just amazing. Years and years of obfuscation, shenanigans, and lies. Yet, this guy continues to fool people--look who's going to be a consultant to the new and improved EK!
AP pi55es everybody off! The stockholders' holdings will be vaporized. The bondholders will take a haircut. Companies owed money will get far less than 100%. Employes have detested him for years (pay for non-performance, terrible decision making, gutting of R&D, lack of accountability, etc.).
Hopefully, AP will end up in a jail cell one day.
No can do. Traffic control would be a problem. Every day, thousands of people would bring their dogs to urinate on a street so named.
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.)
Anybody idiotic enough to invest in a company run by AP deserves what he or she gets. The laundry list of people/companies who've been screwed by him is a long one.
Think about this: anyone in AP's circle having moderate to high intelligence can figure out the guy's been a failure. Yes, he's brought home the bacon (to his family), all the while claiming brilliance, turnaround success, biz school kudos, etc. However he has positioned himself, FAILURE best describes him.
AP is a case study in the cronyism that has sapped U.S. competitiveness, thereby driving higher unemployment.
Well, the stock has been worthless for quite some time, as many of us on the board have been saying. Others took the opposite perspective, which has proven costly.
They have not demonstrated an ability to have positive operating earnings. Do not count on a long life or sustained share valuation for the new shell.
It is quite rare, in the world of business, to witness conversion of a low-character guy into a high-character guy. Clearly, AP is #$%$ of the earth. HP was correct in dumping him overboard. Too bad EK was snookered by his PR capabilities.
The writing was on the wall a long time ago. Whether speaking in terms of the EK's consumer inkjet folly, the annual issuance of glossy plans which never materialized, or the self-aggrandizing leadership team, the picture was clear. The last straw, I suppose, was when even mighty KKR was unable to reform the place.
Too bad George Eastman's proud legacy was tarnished carnival shill AP.
The plan is sure to be a hoot! There will be lots of upward sloping graphs, with little to no substance behind them. Cannot wait to see the projections for margins and earnings.
Good gosh, another operating loss! Anyone surprised? What are the management chumps going to do when they have no more asset sales to hide behind? What a joke!
Yawn... Have not posted in awhile, but not surprisingly, nothing has changed. Kodak still behaves like it has a plan (it does not), it acts as though creditors will approve the plan (they'd prefer liquidation, to get 10 cents on the dollar). This company is going nowhere. They have no profit, no pipeline, no leadership, and a miserable track record.
Okay, will step back and see what materially changes over the next while. Shares will eventually hit zero.
Looking forward to seeing the plan. Should be good for laughs.
Tell you what I do, Sunny--stay away from EK, and would urge others to do the same. It's a TERRIBLE stock of a company run by AWFUL management.
Yes, EK's making great progress. That is why they have asked for extension after extension after extension, and now the judge has said they have one final shot. I've said all along they will not have a plan than any sane person would sign up for.
The longs on this board never cease to amaze.
Remember all the years when they posted nonsense about Bill Gates taking large positions, that he's no dummy (he probably had inside info), and thus EK was going to shine again?! I reminded everyone that whatever holdings of EK Bill G. might have had, they constituted a grain of sand in his overall portfolio. Further, he probably owned the shares via mutual funds, which put them "off the radar".
Nothing will save EK from AP and his corrupt band of bonus-seekers.
The ONLY ways cash goes up at EK:
== Asset sales
== More borrowings
They don't earn a positive net margin on what they sell!
If I want to burn cash, I'll put it in the fireplace. Far less aggravating than contributing to the AP circus.
I wonder why the creditors allow the charade to continue. They must realize there are no profits to be made--track record is very clear.
Whatever is left (once selling of pieces is finished) will be overstaffed (particularly middle and upper management) and too thin on margins. Cash burn will continue.