Kodak to Look for New Board Directors

Mar 5, 2013
WXXI Public Broadcasting

Kodak will look for new directors of the Board of Directors as part of its reorganization plan expected to be filed in April.

The company announced Friday that, along with committees of investors, it will jointly hire a firm to begin identifying new directors.

Analyst T.C Lewis says Kodak will come out of bankruptcy a shadow of the company it once was, and the board and management team will have to reflect the needs of that smaller operation.

Lewis says even CEO Antonio Perez’s position may need to be re-thought.

Kodak Wants More Time

Jan 28, 2013
David Duprey, AP

Kodak has filed a request for yet another extension on the deadline for their re-organization plan outlining their exit from bankruptcy.

Currently the company is required to file a chapter 11 plan by February 15th with the US Bankruptcy Court, but they are reportedly looking to extend that deadline to April 30.

A statement from Kodak says that while the company has asked for an extension, their plan to exit bankruptcy by mid 2013 remains.

Kodak Receives Court Approval for Financing Deal

Jan 23, 2013
WXXI Public Broadcasting

The U.S Bankruptcy Court has approved Kodak’s previously announced financing deal, authorizing the company to borrow up to $844 million from investors.

The deal was contingent upon a number of things, including the sale of the company’s imaging patent portfolio for no less than $500 million, a condition recently met by Kodak.

Kodak spokesperson Krista Gleason says the company is not out of the woods yet, but they are well on their way to exiting bankruptcy on schedule, by the first half of this year.

Kodak Name Will Be Back On Cameras, Under License

Jan 7, 2013
License Some rights reserved by The Shaun Woods / Creative Commons License

Kodak may no longer be making digital cameras but the company has reached an agreement to lend its name to another company’s products.

A multi-year agreement will see the Kodak brand name on various digital cameras, pocket video cameras, and portable projectors made by JK Imaging.

Apple and Google Partner to Buy Kodak's Patents

Dec 8, 2012

Bloomberg business news is reporting that two tech rivals will join forces to buy Kodak's digital imaging patents.

Need To Know Rochester: The Business Section

Dec 4, 2012

Democrat & Chronicle Business Reporter Matt Daneman talks about the Kodak and Hickey Freeman bankruptcies. 

Kodak: "Exiting Bankruptcy Within Months"

Nov 29, 2012
Google Images

Struggling photo pioneer Eastman Kodak could be out of bankruptcy as early as the first half of 2013.

CEO Antonio Perez calls the new financing plan a "vote of confidence in the future of our company."

Need to Know Rochester: Business Section 9/28/12

Oct 2, 2012

Democrat and Chronicle business reporter Matt Daneman joined WXXI’s Scott Fybush for a discussion of the latest unemployment numbers, the Rochester business outlook for 2013, and the latest news from Kodak, which is stretching out its bankruptcy process and shedding its consumer printer business.

Auction for Kodak Patents Underway

Aug 8, 2012

Kodak is selling 1,100 digital imaging patents, hoping to use the proceeds to pay off some of its creditors. The Wall Street Journal reports technology giants Google and Apple are both bidding, but the initial offers are much lower than the estimated 2.6 billion dollars Kodak says the patents are worth. Rochester Democrat and Chronicle Business reporter Matt Daneman says that could change.

Governor Andrew Cuomo signed a bill into law designed to protect Kodak retirees’ from a dramatic increase in health care costs.  

The law serves as a kind of safety net for former Kodak employees’ worried about losing their health insurance plans during the bankruptcy. Its gives will allow insurance companies to compete to provide health care coverage for Kodak retirees should their current plans be dropped.