I stand corrected. I re-read the press release of the deal and it was combination of cash and non-cash - though I am not any clearer on what the non-cash portion was or what that consideration actually is...
Interesting - my recollection was that the $650 million was cash, not "non-cash".
Yes, but executing this on a compressed timeframe is very hard to do.
How is this hard?
1. Board determines to announce Kodak's block chain scheme on day one of the CES.
2. 7 board members decide to buy Kodak stock 1 day before the start of CES.
3. Announcement made at CES- Stock pops 180%.
4. Board members sell stock next day.
Not hard at all.
Or, this variation:
1. Board decides to defer announcement of block chain scheme until after options vest.
2. Options vest.
3. Board members exercise options.
4. Block chain scheme announced.
5. Board members sell stock acquired though exercise of options at tidy profit.
My simple minded version is 7 board members get "paid" 150 grand a year to attend a couple of board meetings a year. They were "paid" a few days before the announcement with Kodak shares at 3 bucks a pop. Less than a week later they sell stock now worth a half a million. I wish I was in "the club" these guy's sit on each other's boards. set each others compensation, and just cash in.
Bunch of Crooks.
How is this hard?
1. Board determines to announce Kodak's block chain scheme on day one of the CES.
2. 7 board members decide to buy Kodak stock 1 day before the start of CES.
3. Announcement made at CES- Stock pops 180%.
4. Board members sell stock next day.
Not hard at all.
Kind of over-reacting aren't you?That is a great way for the board to end up in jail. The SEC would quickly nail them. Is there no end to your Kodak hatred?
That is a great way for the board to end up in jail. The SEC would quickly nail them. Is there no end to your Kodak hatred?
Well, the release of liability with respect to the UK pension legislation was certainly an important non-cash consideration.I stand corrected. I re-read the press release of the deal and it was combination of cash and non-cash - though I am not any clearer on what the non-cash portion was or what that consideration actually is...
That is a great way for the board to end up in jail. The SEC would quickly nail them. Is there no end to your Kodak hatred?
Kind of over-reacting aren't you?
That is a great way for the board to end up in jail. The SEC would quickly nail them. Is there no end to your Kodak hatred?
Ratty Mouse has been puking venom about Kodak and its employees for many months. He has made baseless claims and insults about Kodak employees including the scientists and engineers for too long. As a former Kodak systems engineer I am fed up with his crap and I will now call him on it every time.
Ratty Mouse has been puking venom about Kodak and its employees for many months. He has made baseless claims and insults about Kodak employees including the scientists and engineers for too long. As a former Kodak systems engineer I am fed up with his crap and I will now call him on it every time.
Ratty Mouse has been puking venom about Kodak and its employees for many months. He has made baseless claims and insults about Kodak employees including the scientists and engineers for too long. As a former Kodak systems engineer I am fed up with his crap and I will now call him on it every time.
There really isn't any evidence of wrong-doing by the board.
http://www.nasdaq.com/symbol/kodk/insider-trades
Search through the history of inside buying and you'll see that most of these directors made similar buys in early-January of 2017. The RSUs purchased on those dates would now be vested - but there's no indication in the SEC filings that they have been sold.
If you want to be mad at them, you can content yourself in the knowledge that the RSUs were acquired through an Omnibus Incentive Plan - which means that these shares were likely purchased at a very-heavily-discounted price, as such discounts are de rigueur for those plans.
Maybe there's a different take? Here from Bloomberg is a story worth checking out before writing the whole thing off. Jeff CLarke (bio here: https://en.wikipedia.org/wiki/Jeff_Clarke_(businessman) ) and the story here: https://www.bloomberg.com/news/arti...seize-blockchain-moment-and-win-over-skeptics
Think there may be (emphasis on may) more than meets the rightly, very skeptical eyes. Stock market shenanigans don't necessarily reflect the values. Interesting to look at Kodak's sales relative to its market cap - which is a fraction of sales. Kodak's assets are worth more than it's stock. Period.
Ratty Mouse has been puking venom about Kodak and its employees for many months. He has made baseless claims and insults about Kodak employees including the scientists and engineers for too long. As a former Kodak systems engineer I am fed up with his crap and I will now call him on it every time.
+1 . Thanks!
Add me to the list.Good. I'm sick of his garbage too.
The Levine article to me seems mostly snark and fails to really address what Kodak has actually said. Rather Levine's trying to imagine something and diss something which probably have very little resemblance to what the CEO at Kodak has in mind. Remember the dude has some fairly significant tech credentials. So I'd sit back, wait and give the company a chance rather than like Levine, diss something that hasn't even made it to a spec list.
The Levine article to me seems mostly snark and fails to really address what Kodak has actually said. Rather Levine's trying to imagine something and diss something which probably have very little resemblance to what the CEO at Kodak has in mind. Remember the dude has some fairly significant tech credentials. So I'd sit back, wait and give the company a chance rather than like Levine, diss something that hasn't even made it to a spec list.
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