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  1. #51

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    They will probably pawn off a bunch of patents and sell off their printing business, at least that's what I would do.

    They should just make film, which is really their only profitable sector. Film, paper and chemistry. Leave the digisnaps to the Canons and Nikons and do what they've been doing for 130+ years.
    5x7 Eastman-Kodak kit / B&L 135mm Zeiss Tessar + Compur Deckel
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  2. #52

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    Jeez, you guys just going off and buying film by the 100's of rolls really make me want to . . . well rob a 7-11? My film budget is about that much per YEAR! How do you do it? I'd dearly love to go out and buy 100's of rolls of Tri-X and Portra right now... buy some for me!
    Jeff Glass

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  3. #53
    c6h6o3's Avatar
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    When I got serious about large format photography about 10 years ago I set a rule for myself - no chasing after discontinued products. What a galaxy of heartache that policy has avoided. I've bought a few boxes of Azo whenever someone has stuck one under my nose, but when Kodak discontinued my favorite film in 8x10, I just shrugged and ordered some HP5+.

    Sad, yes, in a detached sort of way. But at this point I don't think it will affect my life any more than did the demise of F.W. Woolworth or International Harvester. They were both in the DJIA at one point. Somehow the earth continued to spin without them.
    Jim

  4. #54
    Aristophanes's Avatar
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    Quote Originally Posted by j-dogg View Post
    They will probably pawn off a bunch of patents and sell off their printing business, at least that's what I would do.

    They should just make film, which is really their only profitable sector. Film, paper and chemistry. Leave the digisnaps to the Canons and Nikons and do what they've been doing for 130+ years.
    Other way around according to their financials.

    Film loses money and is bleeding revenues at 3x the rate of their other biz.

    With people at garage sales giving away film camera for a dime, where is the demand for film?

  5. #55
    Aristophanes's Avatar
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    Quote Originally Posted by alanrockwood View Post
    Why would a creditor want to bid on a business they can pick up for no additional input of capital as part of a bankruptcy settlement?
    That's kind of what I meant. They have to make a business case to the judge or, it is worth zero, the land is sold for other purposes and the production facilities for scrap. The other creditors have to agree.

    Whatever, because film demand is still in steep decline, the issue is whether a restructured Kodak with creditors as preferred shareholders will still be in the film biz. Almost certainly not because any shareholder wants to see increased revenues. From the financials the print lines are close to being in the black without debt and pension obligations. Film is in the red because aggregate demand is still falling.

    Film will go. Where? Hard to say. I predict private venture capital (maybe even a vulture fund) backed by some players in the motion picture industry.

  6. #56

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    .....
    Last edited by jnanian; 01-19-2012 at 02:47 PM. Click to view previous post history.

  7. #57
    MattKing's Avatar
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    Quote Originally Posted by Scott_Sheppard View Post
    The really sad part of this deal is all the retired workers from Eastman Kodak that gave their working lives for the company are now left for DEAD without NOTHING - ZERO !! - I bet George Eastman rolled over in his grave tonight, and guess who they have to thank for all of this happiness ? The leader that ran Eastman Kodak into the ground - Antonio Perez !!
    The Chapter 11 process only directly affects the US operations - Kodak's restructuring website makes that clear.

    So the non-US subsidiaries may very well have entirely separate arrangements with their retirees - as I understand it, that is the case with Kodak Canada.

    And as for US retiree pensions, this excerpt from that restructuring website confirms my understanding that Kodak has in the past created separate funds for retirement pensions and funded those funds each time that an employee retires, and those separate funds are subject to trust protections:

    "Kodak Retirement Income Plan Benefits

    What will happen to my Kodak Retirement Income Plan (KRIP),benefit
    Currently it is expected that there will be no impact on the amount of KRIP benefits or the payment of monthly annuities, given that the Plan is well funded and neither Kodak nor its creditors have access to KRIP’s assets.
    Are the assets of the KRIP protected from creditors’ claims in the Chapter 11 proceedings?
    Yes. Assets in Kodak’s qualified pension plans, including the KRIP, are held in a separate trust and are not part of Kodak’s assets. U.S. federal law protects qualified pension plan assets from the claims of Kodak’s creditors and a federal agency, the Pension Benefit Guaranty Corporation, insures payments up to a certain level."
    Matt

    “Photography is a complex and fluid medium, and its many factors are not applied in simple sequence. Rather, the process may be likened to the art of the juggler in keeping many balls in the air at one time!”

    Ansel Adams, from the introduction to The Negative - The New Ansel Adams Photography Series / Book 2

  8. #58

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    Quote Originally Posted by John Shriver View Post
    Film is 26% of revenues. But probably most of the net income (profit). Film sales have fallen 40% since 2008, probably more due to the digitization of Hollywood than what still photographers are and aren't buying.
    Forgive my ignorance regarding motion picture film, but isn't movie film always positive? If "Hollywood" is the last hope for film (as is posted here quite often), how does this account for the continued life and vigor of negative films?

  9. #59
    Thomas Bertilsson's Avatar
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    Quote Originally Posted by jnanian View Post
    i just went out and bought 1000 sheets of ko 8x10 film
    1000 sheets of tmy2 4x5
    400 rolls of tmy and tri x 35mm
    and 100 rolls of tmy 120 ...

    then i bought a bridge in NYC
    You need more than one pair of underpants for that.
    "Often moments come looking for us". - Robert Frank

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    "...the heart and mind are the true lens of the camera". - Yousuf Karsh

  10. #60
    MattKing's Avatar
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    Quote Originally Posted by thuggins View Post
    Forgive my ignorance regarding motion picture film, but isn't movie film always positive? If "Hollywood" is the last hope for film (as is posted here quite often), how does this account for the continued life and vigor of negative films?
    Commercial theatre movie films are shot on negative stock, scanned to a high resolution digital file, edited, transfrred to another negative "master" and then printed on print stock (another negative stock) for distribution to theatres. Lots and lots and lots of print stock- a significant majority of all film produced is used for movie prints.
    Matt

    “Photography is a complex and fluid medium, and its many factors are not applied in simple sequence. Rather, the process may be likened to the art of the juggler in keeping many balls in the air at one time!”

    Ansel Adams, from the introduction to The Negative - The New Ansel Adams Photography Series / Book 2



 

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