History in the making…
Kodak employees who earlier this year lost the option of taking a lump-sum pension payment upon retirement won’t get that option back this year. Kodak said that an evaluation of the Kodak Retirement Income Plan (KRIP) shows that it is currently 74 percent funded. According to Kodak, as long as the company is in Chapter 11 bankruptcy, it cannot pay out lump sum pensions until the fund is at 100 percent. The KRIP fund is in a separate account and is not in any danger of being depleted anytime soon.
The final approval has been received for building approx. 985 homes on 30 acres of part of the Kodak site in Harrow, Middlesex, England. The project will approx. 10 years to complete.
In Germany at the Photokina fair in Cologne, Kodak announced a new partnership with REAL and the installation of Kodak Picture Kiosks in their 312 stores. They also announced updated software for their kiosks that can create photo books, greeting cards and calendars at home and are printed at the kiosks.