Companies Where Employees Are Losing Hope
by Douglas A. McIntyre
Monday, September 19, 2011
provided by WallStreet
24/7
"Eastman Kodak's (NYSE: EK - News) run as a public company may be over soon. That would put the jobs of many of its 18,000 employees in jeopardy. Analysts think Kodak's patents may be worth much more than that the company. Kodak has begun the process to find a buyer for these patents. MDB Capital Group told Bloomberg that the digital-imaging patents owned by Kodak may be valued at $3 billion in a sale. A sale of patents could mean Kodak will not keep all of its divisions. Second quarter sales at the company were down 5% in the past quarter to $1.5 billion. Kodak lost $179 million in the same time period. Its Film, Photofinishing and Entertainment Group sales dropped 14% to $369 million for the quarter. This is the area of the company's business where it would be logical to start the next phase in a long line of lay-offs. Kodak's cash position has become desperate. It has $957 million on hand compared to $1.624 billion at the end of the second quarter a year ago."
http://finance.yahoo.com/career-work/article/113524/companies-where-employees-losing-hope-247-2
by Douglas A. McIntyre
Monday, September 19, 2011
provided by WallStreet
24/7
"Eastman Kodak's (NYSE: EK - News) run as a public company may be over soon. That would put the jobs of many of its 18,000 employees in jeopardy. Analysts think Kodak's patents may be worth much more than that the company. Kodak has begun the process to find a buyer for these patents. MDB Capital Group told Bloomberg that the digital-imaging patents owned by Kodak may be valued at $3 billion in a sale. A sale of patents could mean Kodak will not keep all of its divisions. Second quarter sales at the company were down 5% in the past quarter to $1.5 billion. Kodak lost $179 million in the same time period. Its Film, Photofinishing and Entertainment Group sales dropped 14% to $369 million for the quarter. This is the area of the company's business where it would be logical to start the next phase in a long line of lay-offs. Kodak's cash position has become desperate. It has $957 million on hand compared to $1.624 billion at the end of the second quarter a year ago."
http://finance.yahoo.com/career-work/article/113524/companies-where-employees-losing-hope-247-2
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