Presenting Eastman Kodak's Main 'Value Investors'

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Fri, 09/30/2011 - 14:54 | 1726936 Dumpster Fire
Dumpster Fire's picture

Dog food line is going to get crowded.

Fri, 09/30/2011 - 14:56 | 1726944 monopoly
monopoly's picture

Just make sure you leave some for my 2, 85 pound puppies. :)

Sat, 10/01/2011 - 00:00 | 1728232 cynicalskeptic
cynicalskeptic's picture

Raising your own meat huh?


Fri, 09/30/2011 - 14:57 | 1726948 sabra1
sabra1's picture

with the right spices, you can make roadkill taste like chicken!

Fri, 09/30/2011 - 15:17 | 1727038 Pool Shark
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"Value Investing"?

Didn't we used to refer to that as "Dumpster Diving"?


Fri, 09/30/2011 - 15:21 | 1727053 oh_bama
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Sat, 10/01/2011 - 08:55 | 1728583 covert
covert's picture

kodak will have a tough time for a long time.


Fri, 09/30/2011 - 14:55 | 1726937 Vergeltung
Vergeltung's picture

Vanguard holds the number two spot? Ugh......and they recently ADDED exposure to EK?


double Ugh. :(


Fri, 09/30/2011 - 15:03 | 1726978 narapoiddyslexia
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Goldman Sachs appears to have tripled its exposure recently.

Fri, 09/30/2011 - 15:55 | 1727199 ghostfaceinvestah
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And look at the exposure of Bill Gate's money - not only was the foundation in it, but his personal investment too (Cascade)

Fri, 09/30/2011 - 17:46 | 1727623 Earl of Chiswick
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Fri, 09/30/2011 - 14:55 | 1726938 sabra1
sabra1's picture

to bad buffet wasn't a major shareholder! his camera still uses glass plates!

Fri, 09/30/2011 - 14:55 | 1726941 SheepDog-One
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Fri, 09/30/2011 - 14:55 | 1726943 reader2010
reader2010's picture

Blame it on digital photography.

Fri, 09/30/2011 - 14:57 | 1726947 Shash
Shash's picture

Gates Foundation ?! 

Fri, 09/30/2011 - 14:58 | 1726951 monopoly
monopoly's picture

u guys notice, that is spite of all this crap today, miners are hanging tough. Maybe trying to carve out a bottom. 0

Fri, 09/30/2011 - 14:58 | 1726952 Vergeltung
Vergeltung's picture

if they go under, that's really bad for the city of Rochester, and upper NY State in general.

Fri, 09/30/2011 - 15:32 | 1727088 rtalcott
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EK...really arrogant for rochester...well...more time for the folks to enjoy that beautiful 4 season climate....very early 80's...Sony was showing off their digital camera prototype....EK's reaction...THAT will NEVER replace film!  It was never a question of IF (digital AND EK BK) but when...yes...lots of little people lose but the management at the top will do OK...

Fri, 09/30/2011 - 15:49 | 1727172 Grifter
Grifter's picture

And this on the heels of Paetec/Windstream Midtown Plaza debacle.  (Am a Roch resident.)

Fri, 09/30/2011 - 16:19 | 1727311 rtalcott
rtalcott's picture

Yes...Paetec!  I had some bean counter tell me...we are becoming Telecom Alley...of course originally it was Flour City...eventually Optics...I had the misfortune to live there...

At least U of R is doing very well....same for RIT...

Fri, 09/30/2011 - 16:36 | 1727397 Dirt Rat
Dirt Rat's picture

The Eastman School of Music still rocks. I was there in the early 80s, a high school student away from home and Mommy and Daddy for the first time. The New York drinking age was still 18 and they didn't seem to card much. I had a very good time in Rochester ;-)

Fri, 09/30/2011 - 17:54 | 1727644 rtalcott
rtalcott's picture

Agree....Eastman...the music school and the Eastman museum...

Fri, 09/30/2011 - 16:45 | 1727440 Blano
Blano's picture

Yeah, couldn't have happened to a nicer place.  /sarc

I had some unpleasant experiences there with a female, so I'm a little biased.

Fri, 09/30/2011 - 15:00 | 1726962 Cman5000
Cman5000's picture

Blame it on digital photography NOT they didn't keep up with the game. I think they might be done permanently ..

Fri, 09/30/2011 - 15:01 | 1726966 fyrebird
fyrebird's picture


And they were at $30/sh as recently as 2007?!?

Man, what a train wreck. If anyone wanted to see what is happening to the US industrial base on the side, just look at EK.

Fri, 09/30/2011 - 15:16 | 1727030 mayhem_korner
mayhem_korner's picture



I think it's more that the geniuses in the tower didn't see the digital age and the end of film coming. 

Fri, 09/30/2011 - 15:56 | 1727201 DCFusor
DCFusor's picture

They messed up well before.  Fuji killed them on both price and quality in film long before this.  Their patents on ->Digital<- are worth way more than the company, estimated about 3 bill.  So they saw it coming, alright.  They just lost the ability to execute long before.

Fri, 09/30/2011 - 16:42 | 1727422 Dirt Rat
Dirt Rat's picture

And I would have to point to the geniuses at the Big Three Dinosaurs who paid no attention to when the comet hit back in the early 70s with the oil embargo. They're still lumbering towards extinction.

Fri, 09/30/2011 - 16:48 | 1727453 Quantum Nucleonics
Quantum Nucleonics's picture

Somewhat surprising, well maybe not, that they couldn't see the digital age coming.  They had some excellent digital imaging products in the early 90's - mostly for scientific and defense applications.  I used one of their chips to build an imaging camera for astrophysics applications in the early 90's.   They didn't have the people and foresight to translate those products to consumer products.  I would think they have some very valuable patents in the digital imaging area.

Fri, 09/30/2011 - 15:02 | 1726969 youngman
youngman's picture

They went under ten years ago...more or less...some interesting names on that list....Vanguard has to buy...its a market thing for them....if there is value at $4..then there must be value at 50 cents....its all a patent lawsuit now...

Fri, 09/30/2011 - 15:02 | 1726972 buzzsaw99
buzzsaw99's picture

Insiders did well, so don't worry about them.

Fri, 09/30/2011 - 15:02 | 1726973 faustian bargain
faustian bargain's picture

Too bad EK doesn't make toilets.

Fri, 09/30/2011 - 15:51 | 1727175 karzai_luver
karzai_luver's picture

Owebama with the bailout in 3 ...........2............1


Of course they can bid on assistant printer job for Bernake.

think of the purty currency they could make.



Fri, 09/30/2011 - 16:41 | 1727416 Freddie
Freddie's picture

...or diapers for old people like Buffett

Sadly Kodak did not get into solar. 

Fri, 09/30/2011 - 15:02 | 1726976 Tsar Pointless
Tsar Pointless's picture

Mama, don't take my Kodachrome away!

Fri, 09/30/2011 - 16:44 | 1727435 Freddie
Freddie's picture

I wish someone would push Paul Simon into a wood chipper.

Fri, 09/30/2011 - 15:09 | 1726982 Mercury
Mercury's picture

EK has been in a death spiral pretty much since digital photography day one.  I'm surprised it's taken this long.

But Jesus, hasn't Bill Miller learned not to ride these bombs down to zero by now?

Fri, 09/30/2011 - 15:16 | 1727035 lizzy36
lizzy36's picture

Apparently not. Dude doesn't understand Buy and Hold died around the turn of the millenium

Fri, 09/30/2011 - 15:53 | 1727188 ghostfaceinvestah
ghostfaceinvestah's picture

It isn't just an issue of buy and hold, that guy is the personification of the term "Value Trap".  Some of the stuff he was pimping the past couple year - geesh, you would think he would have learned his lesson.

Fri, 09/30/2011 - 15:52 | 1727181 ptoemmes
Sat, 10/01/2011 - 00:08 | 1728243 Michelle
Michelle's picture

The assumption here is that these shareholders aren't hedged. I'll bet not.

Fri, 09/30/2011 - 15:22 | 1726995 Dr. Engali
Dr. Engali's picture

Good Lord. How can all of these "smart people" not see this coming? EK has been behind the curve for years. I have a friend who was an engineer in EK back when they meant something. He would tell stories about how hard it was to push a new concept through the beuraucracy there. Once they got rid of their dividend that was the sell signal.

Fri, 09/30/2011 - 15:09 | 1726997 Schmuck Raker
Schmuck Raker's picture

Artis. Is that Latin for timing?

Fri, 09/30/2011 - 15:12 | 1727011 junkyardjack
junkyardjack's picture

John Paulson breathes a sigh of relief, missed that one

Fri, 09/30/2011 - 16:45 | 1727442 Freddie
Freddie's picture

Goldman owns some.

Fri, 09/30/2011 - 15:14 | 1727023 mayhem_korner
mayhem_korner's picture

They still holding patents on 110 speed film?  That'd draw top dollar at auction...

Fri, 09/30/2011 - 16:49 | 1727455 Freddie
Freddie's picture

I think that 126 film is a growth industry.  This is so sad. I wish Buffet was in his bath close by. I would throw him  hair dryer and toaster.

Fri, 09/30/2011 - 15:14 | 1727024 Erin_Burnett_fo...
Erin_Burnett_footfetish_society_of_TrentonNJ's picture

Even if you buy today net cash is > stock outstanding, so you'll get a nice cash payout.

Of course company could survive and you'll will be sitting on a nice buddle.

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