Skip to main content

Kodak to file for chapter 11 bankruptcy

Eastman had made photography popular in the United States in 1888 with the slogan "you press the button, we do the rest". In 1900, his 'Brownie' camera made it really affordable. Australia Kodak Limited, a joint venture with the two Australians, later became Kodak (Australasia) Ltd. It was an early expression of the Australian love of new technology.

 

The Chapter 11 filing could come as soon as this month or early February, the newspaper said.

 

 

Despite having made Huge sacrifices to make the company “competitive” and profitable, 600 production workers will be shunted out of their jobs in November. More jobs will go when the company’s wholesale photo processing lab shuts on October 22, with services being outsourced to another company.

 

The closure of the Coburg plant concludes almost two decades of ruthless restructuring, during which both management and the unions assured workers that if they allowed downsizing and cuts to working conditions. Eastman Kodak (EK.N) is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital.

 

Kodak warned in November that it might not survive 2012 if it was unable to secure $500 million in new debt or sell its patents. The company's cash had been shrinking as sales of its consumer products have failed to keep up with its heavy cost base.

 

kodak-chapter-11-bankruptcy blog online website

 

At Kodak, executives had hoped that emerging markets such as China would give them more time to wind back the film and photographic-paper business as Americans switched to digital cameras. Instead, buyers in new markets skipped over film and went straight to digital

Comments

  1. I just take a peek and I discovered your post. I appreciated the efforts you've did in this post. Hope everything fall in its proper places. Big thanks and keep sharing.


    real estate in Philippines

    ReplyDelete
  2. Nice and useful blog.I am very impressed from your blog.I will share your blog with my friends .Thanks for sharing and keep it up.
    Car Loans London

    ReplyDelete

Post a Comment

Popular posts from this blog

How to get a cheap Bank repossession properties ?

It would appear that repossesions are a good way to get a property under current market value, however how would you find out about them ?
Is this information available to all of us ? Is the purchase any different because it's a repo ie are lenders a bit more wary ?Solutions :If it property is being reposessed the seller (mortgage company) also considers the speed of sale - if they "could" get a higher price with another buyer they will also consider how quickly the sale could go through.
Therefore some latitude is given to agents in what offer is accepted (eg an agent can say that buyer "x" is well known to them and can proceed quickly. Buyer "b" offered 10k more but is an unknown quantity.Bank Repossesion Houses List DatabaseThese days repo's don't really go much cheaper we had one only 3 months ago and it went well over asking price. If you were to ask an agent to give you a call when one is available its very rare they would but some mig…

Boat and House repossessed by Recievers Kordamentha for saville group MD Sam Cheir

KordaMentha as the receiver of the failed Saville Property Group is divesting both the company's assets and those owned personally by principal and MD Sam Cheir.
Property developer Saville Australia has become the latest casualty of the global credit squeeze, with managing director and owner Sam Cheir losing the company’s final asset, its CBD headquarters, and his own home and luxury boat to the banks.
A luxury yacht of his has been repossessedRepossessed Luxury BoatsThe luxury 25-metre cruiser, a Sunseeker Predator 82 for which he is believed to have paid about $7 million several years ago, has been repossessed by a finance company and is also up for sale

The various projects of the Saville Australia property development arm are being sold off, along with its headquarters
Repossessed HomeA debt to Bank of Queensland will be paid after the record-breaking sale for the residential property market in Perth of Cheir's home for $A8.5mMr Cheir’s repossessed Georgian-style Peppermint …

Bank Mortgage Repo sales

What is Repo sales?Repo sales is a slang used around the internet and sometimes even  among real estate agents for  houses or assets repossessed by the banks or  other financial institutions.Most of the time it is Houses repossession or repo done by the bank. These sort of houses that get  taken over by the bank due to default in payments  and other financial difficulties borne by the person who took the loan are called repo houses . These houses either go under the hammer at some auction or then  is given to real estate agents to get rid off in the market.Bank mortgages often go into default  due to various reasons and the bank at this part of time  repossesses the house  and puts it back into the marketIf you are examining repossession properties for sale in Australia do so with caution and do so carefully.  There are many bargains to be bagged, but ensure that you are buying through a reputable auction house and that if you are unsure of anything at any step of the way, seek profes…