"As we sit here today, the company has no intention of filing for bankruptcy."
Also from your link
"Perez, who took the helm in 2005, has sharpened Kodak’s focus on the printing business to help revive revenue."
Good decision there..
You could see the writing on the wall a week or more ago when they tapped their revolving credit line - which was a suprise to many people.
I think the company has been up for sale from the moment they went after the consumer inkjet market and I believe their strategy had always been to "inconvenience" a Lexmark or HP into acquiring them.
When the emphasis shifted to lawsuits over patent revenue - it was obvious that the end was near and a breakup was certain.
I'm not quite ready to say this is the end of Kodak film - but any group acquiring that division will have to accept some pretty hairy risks from toxic torts for the next century...
Well it sounds more like the rest of the company that's not film production is the sinking ship, ironically.
If the film-production division was hurting the company that bad while the rest of it was fine, it'd obviously be axed or sold off.
If the film-production division was doing bad while the rest of it was fine, that wouldn't be news and their credit/finances would be fine.
I think it's obvious which part of the company is a problem. Not a part we have to worry about.
We have to worry about spill-over effects of decisions on the part we care about, and the rest of the company dragging down the film-division..
Poor management for many years and no focus on how to take the company forward in the consumer market compounded by an extremely poor choice of CEO in Perez has brough t this on.
Open letter to Kodak: If you keep making Tri-X I'll keep buying it. Probably some other stuff too.
Please, not another 300 "magical thinking" posts on what ails Kodak along with home remedies.
Regardless of shooting or not shooting film, it is an absolute crying shame and disaster that such a great name and company, one of the truly greatest in the world from an historic standpoint, is going down the tubes this way. Extremely sad, really, and that's whether you love or hate Kodak.
I don't think this is grim for the film division, I think it threatens the film division only indirectly as a result of what happens to the sinking ship part of the company.
In any case I wrote elsewhere that;
The article states Kodak has 19,000 worldwide employees. Nikon has estimated theirs about 25,000. Which is a comparable size. Nikon specialise in optical devices and cameras/lenses. Their public presence is basically only cameras/lenses and sporting optical devices (to a small extent, those with that interest know about it, Joe Bloggs not so much). Kodak generalise. Nikon's public presence dwarfs all of Kodak's generalisations/wide spread business.
Canon generalise. At 2007, their number of employees was put at 130,000. I guess you could say Canon does what Kodak is/was trying to do.
But they have more employees to put behind each branch of generalisation vs Kodak, as well as their products don't suck that much (for what they are) vs Kodak's.
Thank the American MBA. The root of our problems since 1975.
For such an intelligent country how can we continually produce such disastrous business managers?