History in the making… On Wednesday The Wall Street Journal reported that a consortium has made a offer of more than $500 million to buy Kodak’s 1,100+ digital patents. Originally Kodak thought that the patents were worth over $2 billion. But that was over a year ago and they now are facing the reality that …
History in the making…. NY Governor Cuomo came to Rochester on Tuesday to visit areas with economic development. One of the place he and his group stopped was at Eastman Business Park (formerly Kodak Park). People at Kodak pointed out that the Park is continuously adding tenants. They also made a point of mentioning that …
History in the making… Being a holiday week, there wasn’t any big Kodak news. I received a official letter from Kodak telling what everybody already knows; ie. that Kodak will no longer be paying for retiree’s health insurance after Dec. 31st. The largest portion of retirees are those on Medicare. They should be looking at …
History in the making… On Monday Kodak made the announcement that they signed a commitment letter to secure $793 million in loans on the condition that the company receive at least $500 million for a patent portfolio they have been trying to sell. The loan is coming from Centerbridge Partners, GSO Capital Partners, UBS Bank …
History in the making… On Monday U.S. Bankruptcy Judge Alan Gropper approved the agreement between Kodak and an official employee committee. That will end health insurance for retirees at the end of the year. All to be discontinued is survivor benefits for souses of retirees. Judge Gropper called the move fair and reasonable. I know …
History in the making… Kodak was supposed to be in Bankruptcy Court on Monday for a hearing on their agreement with a retiree committee to end health benefits for retirees and dependents. The Court was closed on Monday because of Hurricane Sandy. That hearing is being put off until next Monday. On Tuesday, Kodak reported …
On Monday the 29th (Oct.) the Bankruptcy Judge will hear the agreement between Kodak and the retirement committee that will end Kodak sponsored health care at the end of 2012. He may or may not rule on the agreement at that time. There is a small possibility that he may put off his ruling. Just …
History in the making…. Kodak was in Court on Wednesday to request an extension on the date to submit a plan to emerge from Chapter 11 bankruptcy. The Judge didn’t make any decision. Instead he will make that decision next month.
History in the making….. There was big news on Wednesday that Kodak wants to end its retiree health care and benefits at the end of the year. This is a result of negotiations between a retiree committee that was set up by the Bankruptcy Court and Kodak. This all depends on the approval of the …
History in the making… Many Rochester area Kodak employees got their lay-off notices on Tuesday. Kodak wouldn’t give a specific number. Most were probably employees related to the home inkjet printer business that Kodak has decided to discontinue. On Monday, Kodak announced that they would discontinue their black & white T-MAX P3200 Professional film that …