History still in the making…
Kodak wants to set up a environmental trust fund to settle claims by both the Federal and NY State governments. The claims by those governments amount to over $96 million including a $10.1 million fine for toxic silver contamination of sediments in the Genesee River. The trust fund would be available for clean up of past contamination in and around Eastman Business Park. Kodak will only say that they are in negotiations and nothing is yet concrete.
Property that Kodak used to have in Hollywood has been sold. In 1929, Kodak bought the property to develop sound motion picture film. That original building had a 44 seat screening room. Then in 1994 Kodak built a 86,000-square-foot building with more office space, screening rooms, post-production space, and staging areas. Both buildings have been sitting empty until now.
Kodak had revenue of $127.8 million in the month of April with a gross profit of $9.1 million. Gross profits, however, don’t count certain expenses such as administrative costs, R&D, and reorganization and restructuring costs. Count those in and Kodak for April lost $46.3 million. More than $11 million of the loss came from bankruptcy costs.