Kodak News; June 25 – 29

History in the making…

Several companies have filed objections to the auction sale of Kodak’s digital patents. The list of companies with objections include: Intel, IBM, Nintendo, Fujifilm, Motorola Mobility and Motorola Solutions, Truesense Imaging, LG Electronics and Samsung Electronics an a few smaller companies. All of those companies have license agreements with Kodak to use several of the patents that are for sale. Most of the companies are worried that the auction of the patents would negate their use of patents.

Kodak and Carestream have reached new agreements. In 2007 Carestream bought Kodak’s medical and dental divisions. The new agreements, which were given approval by the Bankruptcy Judge, will continue Kodak leasing space to Carestream. Also, Carestream will continue doing coating work for Kodak.

As part of the ongoing bankruptcy protection, Kodak has to file monthly statements to the Court. On Friday Kodak gave results for the month of May. They posted sales of $173.6 million but still had a net loss of $88.3 million. Plus they ended May with $574.2 million in cash and cash equivalents which was down from $617.6 million at the end of April.

In the U. K., part of the former site of Kodak in Harrow, England has gotten approval for construction of a school and 985 new homes. That construction may take 10 to 12 years for full completion.