Someone at TheStreet.com has been spending too much time watching Disney’s Angels In The Outfield. A brief item this morning stated Roy Disney, nephew of the late Walt Disney, would own the team as a private investment. The deal would not be affiliated with Walt Disney Co., which owned the Angels until 2003. The family has partnered with… Read More »
We’ve written extensively about the once-great Eastman Kodak’s(EK) slide to bankruptcy, but what might be the result of a Kodak bankruptcy? What might Kodak, and the city of Rochester look like in 5 years. Perhaps some answers can be found in the story of another prominent manufacturing company synonymous with an upstate New York city, Oneida, Ltd. Oneida… Read More »
Consolidated Tomoka(CTO) announced two recently completed transactions, the first under the leadership of CEO John Albright. The first transaction completed the repurchase of land that had been sold to Halifax Hospital Medical Center in 2003 but never developed. The company entered into an agreement with Halifax in 2009 to repurchase 33 acres over 4 years, but purchased the… Read More »
Kudos to the Wall Street Journal for scooping the story that Eastman Kodak(EK) is preparing a bankruptcy filing and may file by month’s end. The company is still exploring a patent sale to stave off bankruptcy, but it will be difficult to get an adequate price in this distressed situation. The company is said to be in negotiations… Read More »
Lately, it seems like this blog is becoming all Eastman Kodak(EK) all the time. Odd for a stock we don’t even own. Some Kodak bulls have commented that we interpret every piece of Kodak news negatively, so we felt we should comment that today’s announcement that Kodak has received a continued listing standards notice from the NYSE is… Read More »
A comment on a recent post asked whether we’d considered the value of Eastman Kodak’s(EK) real estate. It’s not something we’d given much thought to, but we’re friendly folk and so we proceeded to do a bit of digging. Our first stop was Kodak’s most recent 10K. While some companies provide detail on their real estate holdings, Kodak… Read More »
Laura Tyson, who had been a Director at Eastman Kodak(EK) since 1997, resigned on December 29, the company reported in a filing with the SEC. Tyson is the third Kodak director to resign in the last week, and, as with the previous two, Kodak’s terse statement gave no reason or explanation. We await the spin form the Kodak… Read More »
Recently, we’ve taken a dim view of Eastman Kodak’s(EK) prospects. As we wrote here and here, we believe the company is most likely past the point where a turnaround outside of bankruptcy is possible. A commenter assuming various names, most recently “Truthseeker”, has expressed his criticism in a most disdainful and discourteous manner. While we object strenuously to… Read More »
Earlier this week, Sears Holdings(SHLD) announced plans to shutter 100-120 stores. Today, the company released a pdf listing 79 stores to be closed, with more to be announced. I’ve converted this to a spreadsheet and mapped them View Sears Holdings 12/29/2011 Closings in a full screen map Of the stores closing 38 are Kmarts, and 14 are Sears… Read More »
A little over two years ago, on September 29, 2009, Kolhberg, Kravis Roberts purchased $300 million in Senior Secured Notes from Eastman Kodak(EK) and was granted 40 million warrants at $5.50 per share. As part of the investment, KKR exercised its right to nominate two directors, Herald Chen and Adam Clammer. Today, Kodak announced that Mr. Chen and… Read More »