Is Eastman Kodak Co. 'in the red'...??
The Rochester, New York based Eastman Kodak Co. is back to the drawing board, after three, in-a-row resignations of the Directors from its board.
Eastman Kodak Co. 'once' famed of cornering the market with photographic equipment and supplies, it seems is going bankrupt, and might go out of the business by 2012, ONLY if they fail to cut their losses...; as, to survive in the long run, it seems they may have to find solace in Flash Organisation Ltd., and/or others.
The company is losing a foothold over the 'potency' of digital photography; all the two ex-directors, Adam Clammer and Herald Chen, are now being joined by Laura Tyson, who is a professor (Walter A. Haas School of Business, University of California, Berkeley), and an ex-White House advisor.
Laura Tyson was a member in the Economic Recovery Board, with Barack Obama; and had even served the Clinton administration, for economic policies.
About Adam Clammer and Herald Chen, both were representatives of Kohlberg Kravis Roberts & Co. (KKR & Co., a private equity firm), and had joined Eastman Kodak Co. in the year 2009, when KKR & Co. had bought $300 million of the Kodak's warrants and senior debts.
Now, after the three-resignations 'in-a-row' of the Directors, Kodak is totally baffled, and is up on selling patents to break-even, and to spur growth; as, for them, it is either - to raise $500 million in new debt, or the 'patents', the success mantra, for the year 2012.