Kodak files for Ch. 11 bankruptcy protection

Discussion in 'Current Events' started by texan, Jan 19, 2012.

  1. texan

    texan Well-Known Member

    (AP) ROCHESTER, New York — Photography icon Eastman Kodak has filed for Chapter 11 bankruptcy
    protection, as it seeks to boost its cash position and stay in business.

    The move comes as the ailing company has failed to find a buyer for its trove of 1,100 digital
    imaging patents. Kodak said in November that it could run out of cash in a year if it didn't sell the patents, for which it
    hoped to fetch billions.

    Kodak files for Ch. 11 bankruptcy protection - CBS News
     
  2. menotyou

    menotyou bella amicizia

    So sad. Rochester will never be the same.
     
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Yet another corporation which failed to adapt to a changing business environment.
     
  4. moreluck

    moreluck golden ticket member

    And what's really weird is Kodak had the digital technology and didn't run with it!!
     
  5. klein

    klein Für Meno :)

    Ha Ha ha !
    How many of you were laughing at me when I said in June it would be a good idea to invest in Kodak shares ?
    Back then they were trading at 16cents/share, as of yesterday 58 cents/share, almost quadupeling in just 2 months !
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Why don't you put your money where your mouth is and invest the $20K from this weekend in Kodak stock?
     
  7. klein

    klein Für Meno :)

    I already put $5 K into it, in June.
    Both Apple and Google are bidding on Kodak patents now !
    Told you they were more worth than the 16 cents on paper back then !
     
  8. The Other Side

    The Other Side Well-Known Troll Troll

    Kodak makes a great home printer. The INK is far less than ALL the other printers on the market. They print excellent copies both black and white and color.

    The ink comes in larger cartridges and lasts longer than all the competition.

    People should really give them a try.

    Peace

    TOS
     
  9. brett636

    brett636 Well-Known Member


    While the ink may be cheap I wouldn't go as far to say that they are a "great" printer. I bought a Kodak ESP 7 which stopped working in about 2 months time. Kodak insisted I try a new print head and when that didn't fix the problem they sent me a refurbished unit as a replacement. The refurbished unit worked about a month and the same problem arose. After hours of dealing with their Indian call center and getting little accomplished I demanded they take back their printer and give me my money back. As a compromise they agreed to send me an upgraded ESP 9(same printer, but with built in fax machine and nicer scanner) brand new in the box. I agreed to this and still have the printer to date.

    My problem with their printer is that the ink tends to dry up faster than you can use it. I don't print all that often, but still find that I am replacing the ink cartridges at the same time intervals. What is annoying about that is if the color cartridge goes dry you can't just print everything in black and white til you get a new color cartridge. The printer becomes a lighted 30 lb. paper weight until you replace that one dry cartridge. Another beef I have is the replacement ESP 9 is a wireless printer meaning it is supposed to connect to your wifi network and allow you to print over it, but my ESP 9's wifi circuitry has gone bad so if I want to print something I have to fire up my lap top and hook it up directly to the printer to print. I am fed up with this kodak printer and will NOT be buying another. This latest bankruptcy only proves that I am not the only person to experience their poor quality of products.
     
  10. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I am no Warren Buffett but even I know you don't buy stock in a company which is under bankruptcy protection.
     
  11. klein

    klein Für Meno :)

    Odd, was just reading customer reviews on Amazon.ca.
    More people really love that ESP9 printer then hate it !
     
  12. klein

    klein Für Meno :)

    I bought Newstar resources under chapter 11 or 13 !
    But, I do admit, I fell on my butt on that one.
    Some you lose, and some you win.

    And no, you are no Warren Buffet.
    If you can't buy or sell stocks under bk protection, then why is Kodak still trading ?
     
  13. moreluck

    moreluck golden ticket member

    He didn't say "you can't", he said "you don't" big difference!
     
  14. klein

    klein Für Meno :)

    Isn't that what Romney did with Bain Capital ?
     
  15. moreluck

    moreluck golden ticket member

    You are certfiably insane !!!
     
  16. brett636

    brett636 Well-Known Member

    But also notice Kodak's repeat business wasn't there to stave off a bankruptcy. I had a Lexmark Z65 printer for 5 years prior to the Kodak which served me flawlessly. I just got tired of the ink costs and wanted a WiFi capable printer. I think an HP or Lexmark will be next. I won't be going back to Kodak.