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  • Eastman Kodak's CEO Discusses Q3 2011 Results - Earnings Call Transcript [View article]
    Rosey, hows the EKDKQ trade working for ya?
    Aug 24 05:05 PM | Likes Like |Link to Comment
  • Kodak Shares Worthless As Company Finally Files Chapter 11 [View article]
    Dwdallam,

    The Judge has already said the shareholders get 0, in fact he denied allowing them representation during the court proceedings.

    EKDKQ will be worth 0 on September 3rd and will discontinue trading, there will be a new share structure set up for the $400 million in new stock issued.If the shareholders of EKDKQ wanted to retain something after BK they needed to argue that in BK court months ago. The current shareholders lost so they get 0.

    In the event though that Kodak finds extra money between now and September 3rd then it first must be used to make the unsecured debtors whole so they'd need to find $2.535 billion just to get to 0, now lets say a shareholder thinks the stock should be worth $5 then you need another $1.35 Billion for that.

    I'm not clear how many EKDKQ shares you hold but today they are worth $0.10, September 3rd they will be worth $0.00, if you have only 100 shares then it may cost more to sell them than it's worth but if you have thousands then $900 is better in your pocket then someone elses, in the case of EKDKQ the judge has already said the stock will 0 and I don't think this can be appealed as the window to do that was months ago.
    Aug 24 08:36 AM | Likes Like |Link to Comment
  • Kodak Shares Worthless As Company Finally Files Chapter 11 [View article]
    Dwdallam,

    The Judge has already said the shareholders get 0, in fact he denied allowing them representation during the court proceedings.

    EKDKQ will be worth 0 on September 3rd and will discontinue trading, there will be a new share structure set up for the $400 million in new stock issued.If the shareholders of EKDKQ wanted to retain something after BK they needed to argue that in BK court months ago. The current shareholders lost so they get 0.

    In the event though that Kodak finds extra money between now and September 3rd then it first must be used to make the unsecured debtors whole so they'd need to find $2.535 billion just to get to 0, now lets say a shareholder thinks the stock should be worth $5 then you need another $1.35 Billion for that so if Kodak finds $3.885 Billion by Sept 3rd then you get $55,000 but right now you could salvage $1,000 on your 10,900 share position but after Sept 3rd then you get $0, I think $1,000 is better than $0 but please let us know how it works out for you after September.
    Aug 23 06:59 PM | Likes Like |Link to Comment
  • Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan. [View news story]
    DeepValueLover, it appears I was dead wrong on the common, it looks like they will be wiped out 100%.
    May 2 01:18 PM | Likes Like |Link to Comment
  • Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan. [View news story]
    His Money we agree!!!! I think Kodak will replace top management and the BOD and will continue in the commercial printing market, I think they may even totally fade away from the movie business. Maybe I'll buy the new shares but right now given that it looks like the old shares will be cancelled for $0.00 I would not be a buyer at $0.10.

    I do see revenue of $1.3 billion in their future for say 2014 but hopefully they can make $65-90 million on that revenue and that'll justify their future but it's more likely they will be bought up straight out of BK as I think they won't have enough operating cap to survive.
    May 2 01:17 PM | Likes Like |Link to Comment
  • Feb. S&P Case-Shiller Home Price Index: +1.2% M/M vs. +1.0% expected, +1.0% prior. [View news story]
    How could anyone ever say "Home prices will never go up again" I can assure you that home prices will go up and down over and over again until we no longer live in homes. I can also assure you that gold prices will go up and down over time, however over time I expect prices of almost everything to rise with inflation.
    May 1 05:29 PM | Likes Like |Link to Comment
  • Eastman Kodak (EKDKQ.PK -72.9%) has plummeted to a mere $0.10 on the pink sheets after announcing a post-bankruptcy reorganization plan in which existing equity holders will see their shares cancelled. Second-lien noteholders will own 85% of the company, and unsecured creditors and retirees 15%. Kodak, which projects a $441M post-bankruptcy valuation, expects to exit Chapter 11 in Q3. (PR) (yesterday[View news story]
    well I'm surprised, I really thought Kodak would throw 5% of the new shares to the existing... I guess the value of $0.05 I gave this stock almost a year ago is too rich now. I still think they are worth a penny or 2 as there is a chance that the existing will be thrown a tiny bone. As a creditor to Kodak I have to feel a bit better that the equity is wiped to maximize creditor return. I still think Antonio Perez is a terrible CEO but I have a shred of respect for him being prepared to wipe out the existing completely.
    May 1 05:08 PM | Likes Like |Link to Comment
  • Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan. [View news story]
    So His Money,

    Are you still holding this one? I hope not for your sake but I was always pretty sure Kodak wasn't gonna transition to a great company while keeping the shares in tact.

    What do you think will happen to the common?
    May 1 02:05 PM | Likes Like |Link to Comment
  • Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan. [View news story]
    DeepValueLover,

    The common won't be wiped out completely as Kodak still needs buy-in from all the parties to emerge from BK, I'd think though that when I said in October that the shares had a value of $0.05 based on the probability of the shares surviving the BK process without serious dilution was about 5%, in this case I bet Kodak common will be diluted by 90% but I feel like it'll be closer to 95%, if the new company has revenue of $1.5 billion a year and a profit of best case say $100 million then the enterprise value may be $1 billion and if dilution was 95% then the current shares would be worth $50 million or $0.184 a share.

    Of course the issue with Kodak is that Commercial Printing is still losing money, 8 million in the last quarter but the division is growing, the Movie side of their business made $38 million but is shrinking and will eventually be losing money so if they don't fix that then they may be back in BK sooner rather than later.

    BTW look at my history, I have been negative on this stock for 2 1/2 years now and guys like "His Money" have been bullish on the stock, as of today my negative calls have been more accurate than the positive calls but if you own shares at today's $0.12 then I'd dump them even though my best case is $0.184 because I really think this is a dog and Antonio Perez may have been a bad choice for leading Kodak through this transition.
    May 1 02:03 PM | Likes Like |Link to Comment
  • "Apple's (AAPL) glory days are now behind it," said FBN's Shebly Seyrafi on Thursday morning with the stock at $450. On Sept. 13 - the day after the iPhone 5 launch and the shares at $680 - Seyrafi reiterated a Buy rating and boosted his price target to $1,000. (FBN now maintains an Outperform on Apple with a lowered target of $650.) [View news story]
    I agree that taxes are almost a certainty but there is a very small population in the US that take more out of the system than they put in... I realize that these are people that you don't want to trade with as they are on food stamps and certainly not living the good life but I'm amazed at just how socialist the US has become from 1999 to now. I'm not one that will blame Obama for all the ills but in 13 years this country has seen a push to government reliance like never before.
    Jan 28 01:56 PM | Likes Like |Link to Comment
  • "Apple's (AAPL) glory days are now behind it," said FBN's Shebly Seyrafi on Thursday morning with the stock at $450. On Sept. 13 - the day after the iPhone 5 launch and the shares at $680 - Seyrafi reiterated a Buy rating and boosted his price target to $1,000. (FBN now maintains an Outperform on Apple with a lowered target of $650.) [View news story]
    Taxes aren't a certainty in this country... Maybe in Europe but the US is a socialist economy, not all pay taxes.
    Jan 27 09:49 PM | Likes Like |Link to Comment
  • "Apple's (AAPL) glory days are now behind it," said FBN's Shebly Seyrafi on Thursday morning with the stock at $450. On Sept. 13 - the day after the iPhone 5 launch and the shares at $680 - Seyrafi reiterated a Buy rating and boosted his price target to $1,000. (FBN now maintains an Outperform on Apple with a lowered target of $650.) [View news story]
    Mike, you make some great points. I think the larger issues here are that Apple is up against the law of big numbers so can they continue to grow at a faster pace than the actual birth rate for the planet. They do have great saturation in the US but not as great worldwide so maybe if every person in China spends $700 on a phone then Apple will do well but something tells me margins in China will have to thin or Apple won't penetrate.

    The second issue is if Apple is such a great innovator as most people seem to think then why are they sitting on $137 billion in cash, surely they can't expect to burn through $100 billion while the US figures out what they are gonna do about ever passing a balanced budget or raising the debt ceiling, the truth to me seems to be that they came out with the iPhone and iPod that at the time were a revolution and iTunes also was a great innovation but now all they seem to come out with is a larger screen or a longer screen or some other "I" product that does the same thing as the rest of their lineup, Apple sells more iPhone 5's than any other handset on the market but if Samsung only had 1 handset then I bet they'd sell a lot more but Samsung has dozens of current models. I just can't be convinced that Apple is today an innovative company, they are becoming a utility, maybe AppleTV will be innovative but if all you are gonna do is stream the same crap that Comcast or Direct or Hulu or Netflix or any other content provider then I doubt there will be value in that and as for buying an AppleTV, well there is only 1 reason that I'd buy an Apple phone, Reliability and robust O/S, I like Android but it's not as reliable as iOS is but my TV's are perfectly reliable so why do I need Apple for that.

    I'd say if Apple is content socking away 40-50 billion a year in profits rather than inventing anything new then I'll move it to the same category as CSX but if they ever start to innovate again then maybe the will be the first trillion dollar market cap.

    At $450 a share though it looks like a value play as with $140 a share in cash and the div. plus the $40 to $45 a share in profits a year they ought to be worth at least $400 - $500
    Jan 27 09:47 PM | 1 Like Like |Link to Comment
  • Kodak's CEO Prioritizes His Compensation Even Amid Bankruptcy [View article]
    5 million doesn't seem high to you, even if the net out is 2 million due to the shares granted being worthless, this is still 2 million for a guy that have watched as the stock went from $30 to $0.20 and has watched $14 Billion in revenue go to $4 billion well I'd argue that letting a trained or even an untrained monkey to run the company would have yielded a slightly less disastrous result and you could pay the monkey a heck of a lot less.
    Nov 19 08:30 AM | 1 Like Like |Link to Comment
  • Kodak's CEO Prioritizes His Compensation Even Amid Bankruptcy [View article]
    Kodak shareholders are more passive than a bucket of water. I'm betting at the next meeting Antonio will say that the transition is going very well, in fact better than expected and that the future for Kodak is a bright one. He will probably also state that they are borrowing more and more cash because that's how the ultra successful business run. Since he joined Kodak there have been just over $7 billion dollars in losses so at about $1.3 billion for 2012 he is right inline with his management style, in 2013 I bet he'll lose less and be proud of it but the fact is when you downsize a company from revenue of 14 billion down to revenue of 4 billion I assume the losses should be much less. I bet if Kodak exists at the end of 2013 it'll be between 2 and 3 billion in revenue and if Antonio is still there will lose 400 million to 600 million. It'll potentially be one of Antonio's best years with Kodak but still a loss.
    Nov 17 11:50 AM | Likes Like |Link to Comment
  • Kodak's CEO Prioritizes His Compensation Even Amid Bankruptcy [View article]
    Antonio runs the board, you guys seem surprised that Antonio has not been fired? He can't be fired unless the shareholders get together and dismiss the board and then the new board dismisses Antonio.

    Antonio knew there was never going to be a turnaround but he also knew that by trashing his reputation as one that can turn around a company while taking $5 - 10 million a year would be worth it if he could hang around until 2010, that would be $50 - 75 million in compensation. Imagine how delighted he is to be allowed to stay into 2013. That's like a bonus of $10 million or more. As of now since joining the company the market cap was around 8 billion and now it's $54 Million, that's less than he took in total compensation during his stay.

    Only reason I'd put money into Kodak is if I were super secured already like Citi and thought that it wasn't throwing good money after bad. I gotta laugh though as the Debt Subject to Compromise on their balance sheet will probably settle out at 5 cents on the dollar or less. So much for the promise of fetching $3 Billion for their wonderful patents.
    Nov 16 12:17 PM | Likes Like |Link to Comment
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