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  1. #101
    cmacd123's Avatar
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    Quote Originally Posted by Photo Engineer View Post
    They are paralyzed!

    They cannot move forward in digital without using film profits. If they use film profits, the film end stagnates. They are using the film profits to fun digital causing problems in film! How much simpler can it be?
    YES! and the only investments in film have been improvements for the the MP business - probably mostly to avoid loseing the Print film business to Fuji. Film Makers can justify asking there work be printed on slightly more expensive Kodak Film more easaly if it was shot on Kodak Negative... Still the Vision 3 family dropped 100T, saying the 200T was almost as good., so I think they are left with 50D 200T 250D and 500T.
    Charles MacDonald
    aa508@ncf.ca
    I still live just beyond the fringe in Stittsville

  2. #102
    MDR
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    I love Kodak for introducing a cheaper alternative to Vision 3 500T for indie and ultra Low Budget Filmmakers (Vision 500T 5230) and I think it was a step in the right direction maybe they should have done so earlier like the Eastman/Kodak thing in the past. I believe its still a little more expensive than Fuji Stock though. I still miss Vision 800 I kind liked the look it gave most people didn't though.

  3. #103
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    Quote Originally Posted by tomalophicon View Post
    Don't you guys in the US have state-funded retirement pensions?
    We have federally funded Social Security. This is in addition to our own pension granted by the company and our own savings which include the Savings and Investment Plan sponsored by Kodak. For healthcare we get company benefits and Medicare and Medicaid. It is the company portion that may vanish.

    Depending on age and date of retirement, some of us will lose benefits and others will not.

    PE

  4. #104

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    Quote Originally Posted by Photo Engineer View Post
    We have federally funded Social Security. This is in addition to our own pension granted by the company and our own savings which include the Savings and Investment Plan sponsored by Kodak. For healthcare we get company benefits and Medicare and Medicaid. It is the company portion that may vanish.

    Depending on age and date of retirement, some of us will lose benefits and others will not.

    PE

    Yes, we DO have Social Security starting at 65, which may or may not be enough to live on, it depends on how much you made and contributed during your working life. I will get $650 month when I turn 65. We do have Medicare that kicks in for health insurance at 65, but that only pays a portion of your doctor billls. For the balance, you're on your own. Some larger companies have retirement plans that pay out a nice check every month when you retire, but being self-employed I won't see any of that, and PE may see that end. There is no state retirement, unless you are a career employee of a state.

  5. #105
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    Thanks, much like our system, but the retirement funds paid for by the companies we work for go into a central fund known as superannuation funds. It means we can move around to an infinite number of companies and still have the money going into the fund.
    http://en.wikipedia.org/wiki/Superan...n_in_Australia

  6. #106
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    Quote Originally Posted by tomalophicon View Post
    Thanks, much like our system, but the retirement funds paid for by the companies we work for go into a central fund known as superannuation funds. It means we can move around to an infinite number of companies and still have the money going into the fund.
    http://en.wikipedia.org/wiki/Superan...n_in_Australia
    Yes. A lot of eyes are on the Oz system as it came about in part because of a collapse in private pension plans and their underlying reliance on long-term public company revenues.

  7. #107
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    The Kodak pension plan at this time is apparently fully funded for most people. However, Kodak had a multitude of plans and it depends on what plan you selected and what year. And, you can retire at 59 1/2, but Federal law says that if you retire earlier, you cannot get any pension or you will pay a tax penalty.

    So, one rule does not fit all.

    PE

  8. #108
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    My father (35+ years with Kodak Canada) is looking at no longer having paid for him:

    1) our provincial Medical Service Plan premiums (now $118.00 per month for my father and mother), and
    2) his premiums for his "extended health benefits" (dental, additional treatments like physiotherapy, and prescriptions).

    There are other government programs that will contribute to the costs that are currently paid by his extended health benefits, once certain limits are reached.

    His pension is fully funded, and isolated from the bankruptcy.
    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

  9. #109
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    Quote Originally Posted by Photo Engineer View Post
    The Kodak pension plan at this time is apparently fully funded for most people.
    Wow! I'm shocked. The spirit of George Eastman lives on. Most company pension plans are so underfunded it borders on the criminal. I know mine is.

    Ed
    "I only wanted Uncle Vern standing by his new car (a Hudson) on a clear day. I got him and the car. I also got a bit of Aunt Mary's laundry, and Beau Jack, the dog, peeing on a fence, and a row of potted tuberous begonias on the porch and 78 trees and a million pebbles in the driveway and more. It's a generous medium, photography." -- Lee Friedlander

  10. #110

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    Another take on Kodak's situation comes from a former EK man who ran their Australian operation for a number of years. Switkowski is a nuclear physicist by training but has made his name in various CEO and company director roles. This article appeared today in our national newspaper "The Australian" and I'd like to have just posted a link to it but unfortunately it is behind a paywall and I doubt that many folk in the US would have a sub to an Aussie paper. OzJohn


    THE print media and telecommunications industries have crucial lessons to learn from the demise of Eastman Kodak, according to Ziggy Switkowski, the former boss of the camera maker's local operations.
    Dr Switkowski, who worked at Eastman Kodak from 1978 to 1996 and was the chairman and chief executive of its Australasian operations from 1992 to 1996, believes the print and telco industries could face a similar fate unless they can divorce themselves from the declining margins of their legacy operations and instead adapt to the increasingly digitised era of business.
    "It's hard to move from a high market share, high-revenue legacy business, into a new capital-intensive world where you have to compete for market share in lower margin products," Dr Switkowski, who also spent six years as chief executive of Telstra from 1999 to 2005, told The Australian yesterday.
    "To make the call to go into new businesses when your legacy business is in terminal decline is a breathtakingly difficult one to make -- but when your business is in that position, then you must adapt in order to survive."
    Dr Switkowski's warnings comes as Eastman Kodak, once a giant of the camera and chemical imaging industry, prepares to seek bankruptcy protection in the US.
    The rise and fall of the once proud 131-year-old international company has been one of colossal proportions and contains important lessons for industries on the cusp of transition, according to Dr Switkowski.
    He said Kodak's demise was due to the intransigence of the company to adapt to an environment in which it would have to sacrifice the prodigious cashflows from legacy operations and instead adjust to an existence exposed to higher competition and lower margins.
    "The problem is that quite often businesses point to the fact that if you can continue to get some sort of return from your legacy investments that have been fully amortised, then the economic returns are still attractive even as you manage a business in decline," he said.
    "For them, the economic returns from the alternatives are simply comparatively unattractive."
    Dr Switkowski said the print media and telecommunications sectors faced a similar dilemma.
    Despite media companies suffering from the long-term decline of printed newspapers and telcos battling the deterioration of fixed-line telephony revenues, both industries have shown a stubbornness to relinquish these businesses, he said.
    "Instead of diverting the bulk of resources to emergent and disruptive technologies, they have instead tried simply to delay the inevitable shift to new platforms," Dr Switkowski said.
    "Kodak's biggest failing was not identifying that the future of the high-margin chemical imaging business was going to end. You had a company whose leaders were all from that side of the house and whose strategy was to optimise returns ultimately for a business that would become extinct.
    "There are similar examples of this in the telco and media industries. Good management will always manage terminal decline, but terminal decline will always decline. Anything that isn't fully digitised is at risk and examples like Kodak and its old hard-copy image business show that people will not continue to value old businesses like they once did, because people are increasingly comfortable with the online and digital world now."
    Last edited by OzJohn; 01-06-2012 at 01:45 AM. Click to view previous post history. Reason: Format



 

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