Kodak News; March 12 – 16, 2012

Kodak film

On Monday Kodak announced that beginning April 1st the price of film will go up about 15%. A Kodak spokesperson says the increases are due to increases in manufacturing costs, as well as higher fixed costs because of the decline in the number of people still using film.

Tuesday there was a report initiated by the Associated Press (AP) that some former Kodak employees are asking to appoint a retiree committee to protect their medical benefits that Kodak wants to discontinue. There were two Court  motions filed that day of behalf of retirees. One was from a lawyer from Alabama that only represents 10 Kodak retirees. The other motion was from EKRA (Eastman Kodak Retiree Assoc.) of which I am a member. EKRA has 4500+ members out of an estimated 50,000 Kodak retirees worldwide. EKRA objected to discontinuing medical benefits and also asked for a retiree committee to be formed. The next bankruptcy hearing is next Tuesday, the 20th.

On Thursday Reuters news service carried a story that the sale of 1,100 US patents and 500 foreign patent is ramping up. That made the price of Kodak stock jump for that day but for the whole week the stock price was only up one cent. Estimates on  the value of those patents range from 1 to 3 billion dollars.