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  1. #1
    copake_ham's Avatar
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    Disturbing news?

    Today's (January 11th) NY Times biz section:

    http://www.nytimes.com/2007/01/11/bu...=1&oref=slogin

    What's next?

  2. #2

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    Quote Originally Posted by copake_ham View Post
    Today's (January 11th) NY Times biz section:

    http://www.nytimes.com/2007/01/11/bu...=1&oref=slogin

    What's next?
    So, they are selling off a profitable silver based business to help cover the losses from their digital product lines. Seems like they bet on the wrong horse.

    Kerry

  3. #3
    Sean's Avatar
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    They used to have a hell of a marketing force behind their traditional products, that's all but dried up and now they wonder why things have collapsed. They could have marketed film/paper/chemistry to the enthusiast and fine art market in many unique ways boosting it's profile and maintaining some degree of success there.. well my 2c anyway..

  4. #4
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    I can't access this link. What is it about?
    Jerold Harter MD

  5. #5

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    Kodak it seems, has lost all its sense.

  6. #6
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    It's so sad. I used to be solidly behind Kodak, but their foolish decisions, just like this one, convinced me several years ago to switch my support to Ilford.
    —Eric

  7. #7

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    Sad...

  8. #8
    Bob F.'s Avatar
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    Quote Originally Posted by jeroldharter View Post
    I can't access this link. What is it about?
    I assume it is this (I have no intention of giving the NY Times my email address either)...: http://www.thedenverdailynews.com/?p...6179&t=Archive

    Cheers, Bob.

  9. #9
    Matt5791's Avatar
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    $2.35 billion - is a considerable price

  10. #10
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    I'm not a financial guru, but it appears that this is nothing more than a Leveraged Buy Out, or LBO.

    Basically, financial wizards find bucketloads of money from various investing firms around the world. They purchase a profit making business, or part of a business.

    The business that has just been bought, all of a sudden has a huge debt that it can just service the interest on.

    After a reasonable period of time, and after any financial asset stripping has occurred, the business is usually onsold or further broken down, that is when the real money is made by the original investor(s). Alternatively, money just disappears then the original company cannot service it's debt and becomes bankrupt!

    If you think that is far fetched, look closely into what really went wrong with AGFA.

    Rather sobering.

    By the way, one of the company that appears to be doing this deal is trying to buy Qantas airlines as well. Qantas is one of the few quite profitable airlines in the world at the moment.

    The basics of the deal are that Qantas will be bought by a consortium for a fantastic sum of money. Thats the good news, the bad news is that Qantas will have it's debt increased about 8 times what it currently is. This debt is actually the purchase money bill. It's interesting that a company inherits the money that was borrowed to purchase itself.

    Financial people are speculating as to whether or not Qantas will be able to service the debt it will inherit, apparently it will be a close thing.

    In a nutshell, it's an interesting lesson on smart operators operating at the smart end of town.

    Reading history books, will tell you what happens next, I'm not.

    Mick.

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