Kodak Loses Another Board Member, Takes on Water as Ship Sinks
January 2, 2012 10:25 AM
comment(s) - last by
Sell patents, bit a massive loan, or close up shop?
Poor Kodak has taken a beating since the advent of digital photography. Few consumers buy film anymore and Kodak’s line of digital cameras aren’t even close to setting sales records. Kodak is facing a bleak future and has previously stated that it might be forced to close up shop as early as this year if things don't change.
Kodak is also facing growing personnel losses within the company. The firm has announced the loss of a third member from its board of directors in the last week. The latest loss is Laura Tyson who resigned her position on the board of Kodak Thursday. The resignation was confirmed in a SEC filing that Kodak made on Friday.
Tyson is a professor at the Walter A. Haas School of Business at the University of California, Berkeley. Tyson is also a member of President Obama's Economic Recovery Advisory Board and advised President Clinton when he was in office.
Kodak is in such dire financial straits that the firm is looking at possibly selling off patents it holds to stay solvent. It has been estimated that the patents Kodak holds are
worth five times
the company's current market cap.
The other two directors that left Kodak last week include Adam Clammer and Herald Chen. The two directors were both from a private equity firm called KKR & Co and had been on the board since 2009.
reports that Kodak had also warned that it might have to raise $500 million in new debt in lieu of selling patents to stay solvent. Kodak hasn't turned an annual profit since 1997.
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RE: WiFi or 3G
1/2/2012 5:20:58 PM
Iphone != DSLR
Nice troll attempt though. Gave me a giggle.
RE: WiFi or 3G
1/3/2012 1:06:38 AM
Actually, you're missing the point. What he was saying is that most people on Flickr are posting photos taken on their Iphones, and that if Kodak could tack a phone onto their existing cameras they might be okay. That probably won't work (see GarminPhone), but previous comments about branding cameras for phones are a possibility that while not easy, is definitely cheap for Kodak. Make a package of a decent lens+sensor+LED Flash and offer it to phone OEMs. Not a ton of development cost, and it puts the Kodak name back out there a bit.
Considering the current state of cell phone camera quality, if they actually make something cheap enough for OEMs to consider and quality enough that there's a visible quality difference it could bring the Kodak name back into discussion. Pack it with a touch interface photo touchup (red eye reduction, some quick photo effects like paper camera or photo effects pro) and suddenly manufacturers can say "but does it have a Kodak camera?" because there will be perceived value in the package.
And as far as troll posts, where did DSLRs come into this? As far as DSLRs go, if you aren't Canon or Nikon there's not much space to say anything. If the discussion is about methods for Kodak to stay afloat, do you think dropping the kind of money to re-enter that market segment is worth it? R&D costs are going to be astronomical for that.
"I'm an Internet expert too. It's all right to wire the industrial zone only, but there are many problems if other regions of the North are wired." -- North Korean Supreme Commander Kim Jong-il
Kodak's Patents Maybe be Worth Five Times the Company's Market Cap.
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