Kodak online photos going to Shutterfly in July
By The Associated Press
POSTED: May 8, 2012
Tags: Kodak, online photos, Shutterfly, website
NEW YORK — Kodak will close its online-photo service on July 2 after a federal bankruptcy judge approved a $23.8 million sale of the business to Shutterfly. Shutterfly Inc. emerged last month as the sole bidder for Eastman Kodak Co.’s Kodak Gallery business. The judge approved the sale last week. Kodak, which filed for [...]
Eastman Kodak 1Q loss widens
By The Associated Press
POSTED: April 27, 2012
Tags: first quarter loss, Kodak
NEW YORK — Eastman Kodak Co. said Friday that its first-quarter loss widened on hefty charges related to its reorganization under bankruptcy protection and a drop in sales. The company, which filed for bankruptcy protection in January, said its net loss swelled to $366 million, or $1.35 per share, for the January-March period. In the [...]
Shutterfly stock flies on Eastman Kodak deal
By The Associated Press
POSTED: April 25, 2012
Tags: Kodak, Kodak Gallery, online photo services, Shutterfly
NEW YORK — Shutterfly’s stock climbed after the online photo publishing company emerged as the sole and thus the likely winning bidder for Eastman Kodak’s online photo services business. The company says no other offers have emerged for Kodak Gallery. Pending final approval by a bankruptcy court, the business will be Shutterfly’s for $23.8 million. [...]
Bankruptcy trustee objects to Kodak bonus plan
By Daily Record Staff
POSTED: April 24, 2012
Tags: bankruptcy trustee, bonus plan, Kodak
The U.S. trustee has objected to Kodak’s plan to pay $13.5 million in bonuses to persuade certain employees to stay with the company as it reorganizes under bankruptcy protection. The trustee is an arm of the Justice Department charged with monitoring corporate bankruptcy cases. In a U.S. Bankruptcy Court filing Monday, the trustee says Kodak [...]
Kodak plans to lay off 91 workers in Rochester
By The Associated Press
POSTED: April 10, 2012
Tags: Kodak, Labor Department, layoffs
Eastman Kodak Co. plans to lay off 91 workers at its Rochester operations in June. The Democrat and Chronicle reports that the company has filed a Worker Adjustment and Retraining Notification Act notice with the state Labor Department about the layoffs. According to the filing, 26 jobs are to be cut on June 17 and [...]
Kodak proposes bonuses, withdraws benefits cut
By The Associated Press
POSTED: April 6, 2012
Tags: Bankruptcy, bonuses, Kodak, retirees
BUFFALO — Eastman Kodak Co. is asking for permission to pay about 300 key managers and other employees a total of $13.5 million in bonuses to keep them from leaving the company as it reorganizes under bankruptcy protection. The company filed the request this week in U.S. Bankruptcy Court in New York. In making its [...]
Kodak retirees seek committee to protect benefits
By The Associated Press
POSTED: March 13, 2012
Tags: bankruptcy protection, benefits, Kodak, retirees
Some former Kodak employees are asking a judge to appoint a retiree committee to protect their benefits as the photography company reorganizes under bankruptcy protection. The retirees say in a motion filed in U.S. Bankruptcy Court in New York that a committee is appropriate given Kodak’s current proposal to end health care benefits for about [...]
State to fund analysis of Kodak’s business park
By The Associated Press
POSTED: March 8, 2012
Tags: consultant, Eastman Kodak business park, Kodak, Rochester Business Alliance, sale
A Rochester business leader says the state has hired a consultant to study Eastman Kodak’s sprawling business park, considered crucial to the area’s economic future as the iconic photography company’s financial woes continue. Sandra Parker of the Rochester Business Alliance tells the Democrat and Chronicle that officials in the Cuomo administration say the state has [...]
Kodak’s Rochester-area work force dips to 5K-plus
By The Associated Press
POSTED: March 5, 2012
Tags: Kodak, workforce
Eastman Kodak Co. says its hometown work force has dipped to just over 5,000 employees, a decrease of 2,000 over the past two years. The Rochester-based photography company tells the Democrat and Chronicle that local job cuts by Kodak totaled about 780 in the past year, dropping total employment to 5,100. It employed 7,100 locally [...]
Troubled Kodak moves to drop some retiree benefits
By The Associated Press
POSTED: February 28, 2012
Tags: Health care, Kodak, retiree benefits
BUFFALO — Eastman Kodak Co. is seeking to drop health care benefits for retirees who stopped working after 1991 and are eligible for Medicare. The request comes as the photography company seeks to emerge from Chapter 11 bankruptcy proceedings that began last month. Kodak said in a court filing Monday that the move would affect [...]
LA co. challenges Kodak move to dump theater deal
By The Associated Press
POSTED: February 13, 2012
Tags: Hollywood, Kodak, Kodak Theatre
The owner of Hollywood’s Kodak Theatre is challenging bankrupt Eastman Kodak Co.’s effort to end its sponsorship agreement and have the company’s name removed from the Academy Awards venue. CIM Group of Los Angeles has filed an objection in U.S. Bankruptcy Court opposing Kodak’s move to get court approval to terminate its naming rights deal [...]
Kodak to stop making digital cameras
By The Associated Press
POSTED: February 9, 2012
Tags: Bankruptcy, business plan, digital cameras, Kodak, photography
Eastman Kodak Co. said Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames, marking the end of an era for the company that brought photography to the masses more than a century ago. Founded by George Eastman in 1880, Kodak was known all over the world for its Brownie [...]
