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Kodak Concedes Difficulty in Drawing Lead Bidder for Patents

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At one time, they took product specialists and sent them out for MBAs. These people then became some of the top managers. The problem was, that they started to promote MBAs who had only business admin backgrounds, or accountants. Carl Kohrt was one of the last to go from science to business, but they passed over him for a pure business type, Carp, and this was a recurring theme.

Now, Perez may be a product specialist, but not in photography, in printing. He did not know the photo business. Neither did Fischer.

Fischer new the phone business, so why did Kodak fail to get into that? Perez knew printing, so why did Kodak fail there? Interesting questions, eh?

PE
 
Yes, nothing wrong with having an MBA, per se. As has been stated here more than once, if you want to have a photography business, studying business will benefit you more than studying photography.

But imagine if you couldn't shoot Portra, because some bean-counter says buying dollar a roll cheap print film will do just as well. Not far-fetched- I've had essentially that happen in my former line of work.
 
..it's still not too late for KODAK. They can come back from the grave if they just get the corporate mind out of it. They need to do what ILFORD-PHOTO did. They can invest what $$ they have left [or someone can] and downsize all that monster-equipment they have, and make a smaller productive company. Problem is, I don't think they care to do it and George is turning over in his grave..
 
dr5chrome said:
..it's still not too late for KODAK. They can come back from the grave if they just get the corporate mind out of it. .
Click to expand...

How do we know that? Can a smaller Kodak support the massive legacy costs? Do they have enough cash to re-build the company into a smaller profitable one? Do they have a good enough core of employees anymore? Have all the good ones left by now?

How do we know that Kodak has not gone past the point of no return? Just merely surviving up until today is no guarantee.
 
Tonight, Kodak announced that they will be keeping some of the digital patents. A full decision is still delayed.

PE
 
RattyMouse said:
How do we know that? Can a smaller Kodak support the massive legacy costs? Do they have enough cash to re-build the company into a smaller profitable one? Do they have a good enough core of employees anymore? Have all the good ones left by now?

How do we know that Kodak has not gone past the point of no return? Just merely surviving up until today is no guarantee.
Click to expand...

Well, we don't know that. We don't know how much the film division will be associated with the legacy costs. But a lot of those legacy costs might just go *poof*.

But that is what bankruptcy is all about, sticking it to those who trusted you the most - your unsecured creditors. That just might include a lot of long time, faithful, dedicated former employees.
 
Ken Nadvornick said:
Yes. And look where it got them...
Click to expand...

The products I was thinking about: the RFS 2035 film scanner, the Premier Image Enhancement System, and the original DCS (later know as the DSC-100) all did quite well (note that the first two are hybrid equipment).

The upper level manager who supported them, and understood how the imaging market was changing, was replaced by a bean counter in about 1991 and the rest is history.
 
... for enough money. Kodak will make more money by retaining them than selling them.
 
I'm keeping my wife for the same reason. Auction never reached the reserve value!
 
BrianShaw said:
I'm keeping my wife for the same reason. Auction never reached the reserve value!
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Funny, I traded mine in for a low maintenance, lower mileage, newer model who when I have a GAS attack tells me, "You have would your career to buy things for others and now is your time, if you want it and will enjoy it, go ahead and buy it."
 
Ya, I contemplated trading... then I looked at my buddy's wife and decided I'd just keep what I have. Mine lets me buy whatever I want, mostly because she knows I need/want little. Once I wanted a Hassleblad and she let me have that. She twitched a little when I told her the price but never said anything except that she would not stand in front of it any more than she'll stand in front of any of my cameras. Maybe I did OK the first time around!

As far a Kodak is concerned... if they can't peddle the patents I sure hope they have a "plan B" ready!
 
The big question is, when do we get to hear about "plan B".
 
I've seen some reports that Kodak has made a deal for some of the digital patents for a bit over $500 million. Does anybody have more info?
 
General question here. What happens to the patent portfolio of a company that fails to reorganize and goes completely bankrupt?
 
PKM-25 said:
Looks like they are possibly teaming up and doing a group buy instead of ramping up a bidding war:

http://www.13wham.com/news/local/story/kodak-patent-sale/a2B5Lqo1dEWLP0ELz-yZfg.cspx

It also looks like this is just not going to go much over $500 million, quite a bit less than the bean counting optimists were hoping.....what a mess...
Click to expand...

I thought it was stated somewhere that Kodak needed to gain at least 2 billion dollars from this auction to have any hope at all to pay back their creditors. What happens next if Kodak fails to raise the funds? Can the bankruptcy be extended?
 
I read that the Justice department might be interested in this single bloc of buyers, as it could be viewed as collusion. You can't have an auction with just one buyer.
 
RattyMouse said:
I thought it was stated somewhere that Kodak needed to gain at least 2 billion dollars from this auction to have any hope at all to pay back their creditors. What happens next if Kodak fails to raise the funds? Can the bankruptcy be extended?
Click to expand...

You are correct. They needed $2B to pay off all debts. As of now, they either succeed or fail at raising that. If they don't raise it, then they try to pay their debts out of income (if any), or they fail at recovery and go into the next stage of the bankruptcy proceedings as defined by the court. That cutoff date is Feb. 2013.

PE
 
Brian C. Miller said:
You can't have an auction with just one buyer.
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Sure you can. Only one bidder will buy and you can also have an auction with just one bidder (or none).


Steve.
 
... I just hope that single buyer is smart enough to not try outbidding himself.
 
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