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Post by psalmchapter51 on Sept 13, 2012 7:26:15 GMT -5
Good News:
No Adjournment of Final Sale Hearing filed last night.
Final Sale Hearing still on Judge Gropper's calendar as first order of business on 9/19.
It is high time Kodak addresses the market. They must be aware of the circumstances call for a PR confirming if there is a deal or not. They are not mugged from confirming this.
Release the kraken!
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Post by micgrow on Sept 13, 2012 7:41:37 GMT -5
Agreed! Reminder about the internal memo to pay close attention to the news for a large company change. Good or bad? I can only speculate. But change is guaranteed.
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Post by mikewestveer on Sept 13, 2012 7:43:04 GMT -5
For the retirees, sadly, almost any news is bad news. I want to make money with Kodak, but I always feel bad for people who get thrown under the bus.
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Post by Admin on Sept 13, 2012 7:45:07 GMT -5
I hear you Mike.
Its a zero sum game.
Somebody wins, somebody loses.
SBG
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Post by psalmchapter51 on Sept 13, 2012 7:48:00 GMT -5
For the retirees, sadly, almost any news is bad news. I want to make money with Kodak, but I always feel bad for people who get thrown under the bus. Agreed. Many of my family members and close family friends were at one time employed by Kodak. Health insurance is definitely a very sensitive issue. The good news is NYS Gov. Cuomo recently passed legislation to assist Kodak retirees with this issue. Continued employment for the remaining 15K+ employees of Kodak is dependent on the company's ongoing profitability. The kind of benefits these retirees were given is unheard of in this economy, and hopefully the recipients thereof have been expecting this day would come and have planned accordingly.
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Post by mikewestveer on Sept 13, 2012 7:55:10 GMT -5
My grandpa was a long time employee of 3M. They were so similar to Kodak in that they made bundles of money throughout the post-war era, people made good money, and there was a sense of community, with their own country club, company picnics, a special meal and goodies for stockholders. There was a real sense of community between employees, 3m heirs, management, for whom many of these categories overlapped frequently.
My grandpa retired with a pension that was the same amount as his top salary...
However, even 3M, who continues to make bundles of money, got greedy. They cut out the annual meal and goodies for stockholders. They slashed the pension. They transferred my grandparents out of their health plan and into the government/private plans.
3M continues to grow and is now the 50th biggest company in America.
However, I feel that they have lost the intangible sense of devout loyalty that their past actions made people feel towards the company. When people have those things, they might hold 3M or weather the storm when things are going bad. These intangibles help the stock and the company as a whole.
We have gotten much to short-sighted and forget not only the important things in life, but also how to build community and see that everyone can win as a result.
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Post by psalmchapter51 on Sept 13, 2012 7:58:23 GMT -5
My grandpa was a long time employee of 3M. They were so similar to Kodak in that they made bundles of money throughout the post-war era, people made good money, and there was a sense of community, with their own country club, company picnics, a special meal and goodies for stockholders. There was a real sense of community between employees, 3m heirs, management, for whom many of these categories overlapped frequently. My grandpa retired with a pension that was the same amount as his top salary... However, even 3M, who continues to make bundles of money, got greedy. They cut out the annual meal and goodies for stockholders. They slashed the pension. They transferred my grandparents out of their health plan and into the government/private plans. 3M continues to grow and is now the 50th biggest company in America. However, I feel that they have lost the intangible sense of devout loyalty that their past actions made people feel towards the company. When people have those things, they might hold 3M or weather the storm when things are going bad. These intangibles help the stock and the company as a whole. We have gotten much to short-sighted and forget not only the important things in life, but also how to build community and see that everyone can win as a result. Well said. Sad, but true.
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