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Thread: EK no longer on the NYSE

  1. #1

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    EK no longer on the NYSE

    Eastman Kodak Co. (EK): The unprofitable imaging company that tumbled 88 percent last year was notified by the New York Stock Exchange that it may be delisted because the shares are too low. - Bloomberg

    I see it's being delisted fron the New York Stock Exchange. WOW

    Old George is rolling over in his grave.

    bob

  2. #2

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    Re: EK no longer on the NYSE

    I'm confused by this thread. Has it been delisted or not?

  3. #3
    MIke Sherck's Avatar
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    Re: EK no longer on the NYSE

    Politically, aerodynamically, and fashionably incorrect.

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    Re: EK no longer on the NYSE

    Quote Originally Posted by Bob McCarthy View Post
    Eastman Kodak Co. (EK): The unprofitable imaging company that tumbled 88 percent last year was notified by the New York Stock Exchange that it may be delisted because the shares are too low. - Bloomberg

    I see it's being delisted fron the New York Stock Exchange. WOW

    Old George is rolling over in his grave.

    bob
    "if it cannot boost its share price over the next six months."

  5. #5

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    Re: EK no longer on the NYSE

    Quote Originally Posted by Tom J McDonald View Post
    I'm confused by this thread. Has it been delisted or not?
    If it had been delisted, it would be kinda hard for the shares to drop as much as 33% today: http://www.bloomberg.com/news/2012-0...cy-filing.html

    Interestingly, there were sellers and buyers for 31 million shares, although at a close of 47 cents per share, that isn't a lot of money. The stock is down 91.5% in the last 12 months.

    Some months ago, I considered shorting it, but it was too volatile for comfort. More volatility to come, I suspect.
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  6. #6

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    Re: EK no longer on the NYSE

    I'm waiting to see if Ilford tries to buy the film making plant. That would be interesting.

  7. #7

    Re: EK no longer on the NYSE

    Quote Originally Posted by tlitody View Post
    I'm waiting to see if Ilford tries to buy the film making plant. That would be interesting.
    Wishful thinking. Kodak already sold the gelatin business to a non photographic company late in December as the walls were crumbling. You can't make film without gelatin. Unfortunately, unless some information comes down the pike to the contrary in the next week to 10 days, Kodak film or any remainder of this long standing product are only going to found on the shelves of antique stores to remind us of a fine day long since gone. It is a really sad day for all photographers.

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    Re: EK no longer on the NYSE

    Quote Originally Posted by Michael Kadillak View Post
    Unfortunately, unless some information comes down the pike to the contrary in the next week to 10 days, Kodak film or any remainder of this long standing product are only going to found on the shelves of antique stores to remind us of a fine day long since gone. It is a really sad day for all photographers.
    Don't forget the film industry.

    Chapter 11 means a reorganization, not an end to the company let alone any given business line. And the creditors are not about to kiss away saleable assets. If it comes to it, the film business will indeed be on the block. The question is who will bid. I don't see why Ilford couldn't be a contender. Also Fuji, although that would raise (not necessarily unresolvable) competition law issues.

    It would be interesting to know whether Kodak's film unit is losing money and, if so, why, because the why goes a long way to explaining whether it can be turned around to make a reasonable return on investment.

    It is the case that Kodak has continued to invest in R & D on film, although it can be argued that this has largely focused on reducing the number of film product lines, especially in the case of motion picture film stocks.
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  9. #9
    Drew Wiley
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    Re: EK no longer on the NYSE

    This could unravel pretty fast, and we'll just have to hold our breath awhile until things
    reach some kind of new equilibrium. The logistical problem during reorganization will be
    whether or not there's enough cash flow to keep raw materials flowing. They've got
    to buy silver, film base, gelatin, and all kinds of petrochemicals. If one key supplier isn't
    going to risk it, the whole thing could unravel as far as film or paper are concerned.
    A scaled-down company with lower expectations could probably do a lot better job,
    especially if the mgt and attitude changed - but that's only a 50/50 possibility. Maybe
    Fuji will spot an opportunity and reinvigorate their own color neg film R&D. Maybe not.
    I can only afford to spend so much on film stashed in the freezer, but it should be
    enough to get thru this whatever episode. After that, who knows. Bankrupty ain't
    always bad, if that's what it comes to ... but it is a roll of the dice.

  10. #10
    Daniel Stone's Avatar
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    Re: EK no longer on the NYSE

    Wise words Drew, stock up while you can... At least enough to get through the twists and turns...

    I'm glad I have. Piece of mind knowing I have the materials available to me so I can continue to shoot during the hard times is well worth the somewhat-drained checking account...

    -Dan

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