Saturday, October 01, 2011

Kodak on Verge of Bankruptcy?

See two of all those numerous reports that float around the Internet today and some quotes from them:-

"The company is losing hundreds of millions of dollars each year. It has a growing debt-load. The interest on its debt alone is around a $150 million each year. This is a lot for a company with a market cap of only $780 million."

"Google was reported to be one of a number of suitors who were examining the photographic pioneer's assets ahead of a sale, although some potential buyers are reluctant to proceed with bids because a purchase may amount to a so-called fraudulent transfer if the company becomes insolvent, according to the Bloomberg news agency.

A bankruptcy filing may help clear the way for a patent sale, Bloomberg was told by a number of individuals with knowledge of the process."

"Kodak's shares plunged 91 cents to close at 78 cents per share."

So, here comes the potential death of yet another giant (whom once was, and for a long time) of the photo industry. It is sad afterall but the market is cruel, as always. Btw, the 645D uses Kodak sensor. If Kodak dies very soon, will the sensor production be halted immediately and thus the 645D production could also be affected, as a result?

Last Story:-

Kodak to Stop Production of the Kodachrome :-(

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