The old Kodak had more debts versus assets. Would your moral clock be happier if there was no new Kodak company and all was just dissolved? i.e. less jobs in Rochester and all of Kodak halted. ? i.e. end all movie film for theaters; old shareholders get zero; bondholders get a few dimes per dollar; ? is it ETHICAL to pay the old shareholders before the Bondholders? i.e. go across the basics of bonds are paid first? closing all doors and firing all and stopping all production could be viewed as un ethical to the movie industry who have contracts to buy film. Kodak owned more than it is worth thus there was no money to pay the old shareholders.
I think folks see the same faces at the new company and thus think that the old company's shareholders were wronged. But that is not how bankruptcy works; the shareholders are last in line thus got zilch.
Most folks are followers. They will whine and complain at the small stuff like cold fries at McDonalds but are weak to ask for a CEO's head i.e. fire him for cause. Perez was flown to Spain on private jets while the Dividend was cut and gone at the old Kodak. The stock was many dollars a share then. 100,000 bucks invested in Kodak when Perez was hired would buy you a weed eater last summer; then nothing by September. On this board even mentioning that the CEO should be replaced got one attacked; and that was 2 years ago. The masses would be appalled to have a Mr Greenjeans in overalls who kicked butt at Kodak 5 years ago. They want some groomed CEO that says all the right words and not one is in deep dung. The USA rewards CEO's like kings and the lay stockholders are weak and dumb to not hang these failures out to dry. i.e. fired them for cause with ZERO benefits. The CEO's are smart and crafty; the sign on with super plans that no matter what they make out. The fault is with the old shareholders. They had no balls and were dolts to not see Kodak was just milked as it crashed and the old guard upper crust were rewarded. Remember the masses voted for Obama and he crowned Perez and as a role model. i.e. job creator. The lay masses love to follow bad plans and reward failure.
Good to see how Perez is still connected to Kodak. He skillfully steered Kodak over the last decade. His followers are many. He has a job for life if his followers will press the matter! :-)
“This is an important moment for the new Kodak,” Antonio M. Perez, Kodak CEO, said in a statement Tuesday afternoon. “We are pleased to once again be listed on the NYSE. The change in our symbol reflects that we are a new company that is focused on business-to-business products and services, well-capitalized and firmly committed to delivering value to our shareholders and innovation to our customers.”
The Gods at Yahoo are stupid. They dropped key features in yahoo mail to make it more like gmail; and REMOVED features that ONLY YAHOO HAD. Thus simple stuff like printing an email is WHY many users used yahoo MAIL; that have both yahoo and gmail accounts. They also removed tabs and a way to sort emails by client. The #$%$ IGNORED why folks used yahoo for mail instead of just gmail . Thus these stupid clueless assuming stupid YAHOO software and high mucky mucks should be BASHED; instead of folks point out the KEY reasons by the yahoo upgrade is a DOWNGRADE. The blond goddess at Yahoo just ruined yahoo mail. is she MAN enough to add back features folks use; or is it just my way or the highway; it to hell with clients?
Yea I know. I own 200 of the new shares EKOD that I bought about 25. The running joke on this old forum is that EKDKQ still trades.
When i log on I see either 0.03 or on other days 0.0299. Good to see a stock that is not trading still having some movement. :) Weirder still is when first go to Yahoo business and see my stocks I track it shows EKDKQ often as 0.05; then its 0.03 0r 0.0299 when on this EKDKQ page ! :)
Bankruptcy is part of the airline industry. 4 Dozen Airlines have been in chapter 11 since 1979. As Warren Buffett says "You’ve got huge fixed costs, you’ve got strong labor unions and you’ve got commodity pricing. That is not a great recipe for success."
As of 1992, in fact—though the picture would have improved since then—the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.
— Warren Buffett, billionaire investor, interview 1999.
Kodak went bankrupt. The old shareholders got nothing; like about all bankruptcies. The New Kodak is a new company. The old shareholders have nothing to do with the New Kodak. With the old Kodak there were more debts than assets. the company had a negative worth. The bondholders of the old Kodak are legally the ones that have some secured stuff; thus they get some of the new Kodak shares. None of this is anything new; bankruptcy is older than anybody alive today. Common stock is the last guy in line in a bankruptcy; thus they got nothing. It is not fraud; it is how bankruptcy works. Kodak was in such a bad shape the shareholders got nothing. That stocks go up and down more than bonds; there is often little or nothing secured.
I have 50 shares in Crown Northcorp in an account and it has had a nill ie zero value for at least a decade. Sometimes zero value stuff is still there until a chap manually removes it by request
Yea; but Perez the chief clown is still on the BOD; thus a warning sign. Kodak OLD shareholders were so meek they kept Perez around while the stock went from 30 bucks to 3 cents. Ten years at the helm. Folks never got mad and fired him for cause. Somebody who had one hundred grand worth of 10 years ago saw it last summer a a few hundred bucks. Normally one wipes turds from ones shoes.