Feeds

Kodak's new life to begin in September

Smile and say 'B2B' as judge okays bankruptcy exit

Internet Security Threat Report 2014

Eastman Kodak will officially restart operations on September 3, after a Manhattan judge signed off on the last aspects of its reorganisation plan.

Last week, Judge Allan Gropper flipped the bird at disgruntled shareholders, who believed they should recover something from the smoking ruins of the once world-dominating photography business. The judge ruled in favour of staff, retirees and small suppliers, who will get a pittance rather than absolutely nothing.

As noted by Forbes, the “new Kodak” will have nearly nothing in common with the brand-that-once-was. Its focus will be corporate imaging and printing, which it apparently expects to be less viciously competitive than the digital camera business it helped to invent.

Kodak's failure to compete in the digital world saw its revenue more than halved from $US13.3 billion in 2003 to $6 billion in 2011, and its workforce shrink from nearly 64,000 to about 17,000.

Forbes says the new Kodak will have a projected equity value of $US441 million. Most of the equity in the company – 85 percent – will go to “second-lien claims”, and 15 percent will be put into a pool for unsecured creditors.

Meanwhile, the ghosts of the old Kodak will probably stalk the tech industry in the form of patent lawsuits. In March, the company flogged most of its patent portfolio for $US527 million, with Apple, Google and Samsung among the 12 licensees organised by Intellectual Ventures. The group also includes Adobe, RIM, HTC, Huawei, Amazon, Facebook and Microsoft. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.