Kodak Files for Bankruptcy Protection 1/18/2012

[clayne]

Well fotch, some of that does have to do with the megapixel lie. Why are we still beating doom drums in this thread btw?

[fotch]

Well Clayne, I would guess people like to express their opinions, some like to argue. Some are optimist, some are pessimist, and will never fully see the others point of view. In any case, I believe film lovers want to continue with the analog method. It serves no good purpose to keep kicking a person, company, or industry, when they are down. Sometimes that old saying "If you cannot say something nice, shut up" is right. JMHO

[zsas]

Kodak moves to end health coverage for retirees 65 and older

http://www.democratandchronicle.com/...ext%7CBusiness

[alanrockwood]

Kodak moves to end health coverage for retirees 65 and older

http://www.democratandchronicle.com/...ext%7CBusiness

Here is what is funny. The article says they will be saving about $20 million per year after the first year. The article also says they don't know how many people will be affected. In other words, they are just guessing.

[Photo Engineer]

Kodak's health care covers entire families and at one blanket fee per family. They know the fee, but often have no complete record of family size due to births, deaths, divorces and also entry into nursing homes which all change coverage, people affected, but most often do not change payments by EK.

PE

[rich815]

.....(snip)....The article also says they don't know how many people will be affected. In other words, they are just guessing.

More likely just prefer not to say.

[Prof_Pixel]

An article in today's D&C says 'about 16,000 retirees' will be affected.

[AlbertZeroK]

Kodak's health care covers entire families and at one blanket fee per family. They know the fee, but often have no complete record of family size due to births, deaths, divorces and also entry into nursing homes which all change coverage, people affected, but most often do not change payments by EK.

PE

So what you're saying is that Kodak has not been keeping up with the family coverage and the premiums paid to the health insurance company, so EK thinks they can save money by doing an audit of the families and perhaps reduce the premium paid by EK to the insurance company? In other words, this is about book keeping but shouldn't effect EK retires or their benefits?

[Prof_Pixel]

In other words, this is about book keeping but shouldn't effect EK retires or their benefits?

Nope! It's a real cut for the approximately 16,000 retired Kodakers who retired since 1991 (of which I am one).

[Photo Engineer]

As stated above, it is a real cut but EK may not know the exact number of people affected. They do know the exact dollar amount.

PE