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View Full Version : Kodak is cutting more jobs. President and CFO stepping down.



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RattyMouse
09-10-2012, 09:48 PM
How long can it take for Kodak to sell off the film division? I cant be alone in waiting for the rest of this company to just go away.

Prof_Pixel
09-10-2012, 09:55 PM
How long can it take for Kodak to sell off the film division?

Since they didn't do very well with the patent auction and Lucky and Fuji appear to be getting out of the film business, just what makes you think there is a buyer out there for Kodak's film business?

Ektagraphic
09-10-2012, 09:59 PM
C'mon Kodak......If they can't sell it, then what? Will they exit the business?

Prof_Pixel
09-10-2012, 10:06 PM
C'mon Kodak......If they can't sell it, then what? Will they exit the business?

Given the cuts they have made, I don't see how they can continue to maintain the sales of professional/consumer film.

Photo Engineer
09-10-2012, 10:13 PM
I keep wondering if Perez/ IQ is bigger than his shoe size!

PE

lxdude
09-10-2012, 10:27 PM
IDK, but clearly his head fits easily in his ass!

jnanian
09-10-2012, 11:27 PM
i guess the maya were right after all, at least for Kodak ..

very sad last couple of weeks ...
----

im glad our friends in england and europe are still doing well ..

Roger Cole
09-10-2012, 11:42 PM
IDK, but clearly his head fits easily in his ass!

Not quite. It fits tightly. If it fit easily it'd be loose enough to fall out again. It seems quite firmly stuck there.

Roger Cole
09-10-2012, 11:43 PM
Imagine being on Kodak's Board of Directors. Perez is Chairman as well as CEO. How much straight talk can there be?

I cannot understand why the man who "led" them into bankruptcy and their shares into near-worthlessness is still there, expecting a bonus for "guiding" them through the bankruptcy! Although the bankruptcy has been very hard on Perez. He had to give up both corporate jets. It's a bitch to have to fly first class commercial on vacations to his hometown in Spain, you know.

To reference a currently popular political topic, Perez can declare "I didn't build this".

No, but he sure helped destroy it. Rome wasn't built in a day, but it was burned in one afternoon. :(

lxdude
09-11-2012, 12:51 AM
Not quite. It fits tightly. If it fit easily it'd be loose enough to fall out again. It seems quite firmly stuck there.

Right you are. When it comes to self-regard, he has a big head!

lxdude
09-11-2012, 12:53 AM
Perez is Chairman as well as CEO.


Which is not well at all.

RattyMouse
09-11-2012, 01:10 AM
I keep wondering if Perez/ IQ is bigger than his shoe size!

PE

PE, the results are in and the shoe size is several orders of magnitude larger.

RattyMouse
09-11-2012, 01:11 AM
Which is not well at all.


Perez is intent on destroying Kodak's legacy. That much is clear as day.

SilverGlow
09-11-2012, 01:47 PM
All this hate talk against Perez.

Lets take a walk down reality lane boys: What is killing Kodak film, and film in general is the lack of customers willing to buy and use film.

Hello?!?

Ian Grant
09-11-2012, 01:55 PM
All this hate talk against Perez.

Lets take a walk down reality lane boys: What is killing Kodak film, and film in general is the lack of customers willing to buy and use film.

Hello?!?

No what's killing Kodak is poor management spear-headed by Prerez. This started with big cuts in R&D closure of innovative units all geared towards new technologies and then too much reliance on the film/coating division.

It's the financial journals and pundits who've named and blamed Perez and some of the other Kodak directors, often non executive. These guys have been taking huge bonuses while overseeing losses. Bonuses are normally paid for making good profits and usually linked how much additional profit so this really says it all, they are just out for themselves not the shareholders, employees or customers of what was once a proud International company.

Ian

Photo Engineer
09-11-2012, 02:16 PM
I've said it before and I'll say it again. Perez appears to have an IQ smaller than his shoe size!

PE

SilverGlow
09-11-2012, 02:32 PM
Ian, there is another valid reason to pay bonuses, and that is to give incentive for executives to stick around and help bring the ship down to a soft landing. I have often been paid bonuses to to stick around and be part of the "sunsetting" crew, or the restructuring crew. I'm sure Perez could've done better, made better decisions, but at the end of the day, the lack of customers is going to be the final deathblow to Kodak or any company. Just look at all the other film companies that are either cutting back, or discontinuing film products, so you see, it's not just a Kodak/Perez problem. Look at Hollywood, and the MP industry, slowly trending away from film. Distribution doing it even faster, so how can Perez or any human being for that matter work against this momentum...like stopping a moving train!

DREW WILEY
09-11-2012, 03:18 PM
Stop comparing one film company to another. There weren't that many to begin with. Once solid
mfg corporations in this country are failing right and left for similar reasons. Some of them had plenty
of business all along, but either mismanaged their profits or paid they're brass so much that nothing
was left over to sustain the operations. But if true, the roles of CEO and Chairman being combined
person should be a red flag from the word "go". There should be some common sense law against that kind of thing. Only a fool would invest in a company structured in that kind of manner.

Thomas Bertilsson
09-11-2012, 03:18 PM
Ian, there is another valid reason to pay bonuses, and that is to give incentive for executives to stick around and help bring the ship down to a soft landing. I have often been paid bonuses to to stick around and be part of the "sunsetting" crew, or the restructuring crew. I'm sure Perez could've done better, made better decisions, but at the end of the day, the lack of customers is going to be the final deathblow to Kodak or any company. Just look at all the other film companies that are either cutting back, or discontinuing film products, so you see, it's not just a Kodak/Perez problem. Look at Hollywood, and the MP industry, slowly trending away from film. Distribution doing it even faster, so how can Perez or any human being for that matter work against this momentum...like stopping a moving train!

He didn't seem to have a problem plowing money from their only profit making entity (film) into a technology that they weren't able to properly launch - for a decade. If you can't see a trend forming in ten years, then it's time to step down and let a real visionary in. It's not like their problem is new. It was well known ten years ago that film would some day decline to a tiny sliver of what it once was. Instead of just riding out the curve of demise, it would have been appropriate to diversify.

It doesn't make me an expert, but I work in a company in an industry that renews itself about every ten years. There are new innovations all over the place, and once in a while you see a ground breaking introduction of something that changes the game enough to make many old products obsolete. Some companies rest on their laurels and continue doing what they've always been doing, make good cash for a while, but eventually disappear, while others continue to spend money on R&D, do market research, reinvent themselves, and stay on or lead the cutting edge of the industry. Those are the ones that kick a$$ and take names, if they know how to also make a profit (which Kodak did with film). If you stand still in today's market you will be run over by a steamroller of new inventions, but those that move and keep up stay ahead of the curve. Visionaries are needed to accomplish these things.
My company was on the brink of destruction ten years ago, laying people off left and right as soon as times got hard, cash strapped, and with an aging product portfolio. Enter a new CEO with a really strong desire to do well, to be best, to compete, and to sustainably do so. Cash is king, we are now truly global, made profit even during the 2008-2010 recession, and did not lay off a single person in that time. We take market share, and we come out with something like 600 new products per year. Some of those products succeed, and others do not, but we keep at it and do it again. The result = we kick a$$ and take names, and the common denominator is our CEO and his infectious enthusiasm along with a transformation of how we go to market. We were a sinking ship but turned it around into a very mighty company, and it's been an outstanding ride to be along.

Ken Nadvornick
09-11-2012, 03:30 PM
All this hate talk against Perez.

Lets take a walk down reality lane boys: What is killing Kodak film, and film in general is the lack of customers willing to buy and use film.

Hello?!?

That was simply the precipitating event that Perez was hired to manage Kodak's response to, not an obstacle blocking his efforts to do so. And he is accountable for his own success or failure to do that for which he was hired. As are we all.

Ken