Poor Kodak !!!! Very poor management !!!!! Dun believe in what his employee input !!!! Sell ! Sell everything until nothing left.... Bye Bye !!!! Last one standing.....Fuji .!!!!
Where in the hell has the Board of Directors been? How could they let this happen to this company? Shame on everyone of you! So many people, worked hard to keep this company going and there is nothing left to work for. Sad...so sad! It makes me sick that a company could be in ruins because of the bad management. Perez and his crew should have been gone a long time ago. They ruined the company. Thanks and goodbye Kodak! Rest in peace.
Ms. Owl, are you suggesting that Kodak should have bet the farm on digital photography? Where is the profit in digital? I bet that you have hundreds of of photos sitting on your hard drive just waiting for your computer to crash. Nothing lasts forever. Get over it.Film is gone, so are buggy whips.If you look at employment figures now compared to 1991, Rochester has already survived the loss of Kodak and continues to have a low unemployment rate compared to other rust belt cities.Hoot Hoot
think about the frustration of those who worked for Kodak in countries other than the USA. They were far away and had no influence over what affected them adversely. The decisions of Kodak Board were deliberated only in the Board Room and never addressed the realities of a global Company.
You fail to give CEO George Fisher credit for sending Kodak down the wrong path. In my opinion, he was the key person to start Kodak on its path to oblivion.
Fantastic analysis. Very well researched, and it pinpoints the problems are indeed caused by poor decisions in management. Perez and his cronies need to go and leave the company with at least a fighting chance to survive.
Not sure there is info about the New Kodak comercial priniting - Creo CTPs- Versamark -Nexpress - Not sure that is mentioned about the new personal printers ...?
Ah, the OLED! Thanks for reminding me. I added a line in 1987 for that particular fumbled ball.
I worked at EK for 16 years, and saw that it was impossible get marketing dollars for the plethora of new and innovative electronics being developed. All marketing dollars were focused on the dying cash cow. I have nothing bad to say about working there at all though!Nothing!
Well clearly they were thinking about how to save their own jobs, not the company.
The presiding judge had been a lawyer for Polaroid, which may have have been a factor in the judgement that was awarded. The one billion awarded was much less than the profit made on Instant Film. I know I was a yield and efficienct foreman in the department. A billion was a bargain.
Kodak management has indeed made many mistakes, but there are so many factually incorrect statements in this article that it is hard to regard it as a serious analysis of where the company went wrong. The key is that Kodak had world-class expertise in two areas: materials science (including precision coating) and image science. It failed to exploit these to transition from film into new markets, largely because it brought in outside management that had little understandng of these core competencies and instead tried push the company into areas where it had to competitively develop expertise other companies already had.But Wall Street also deserves a bit of the blame by pessimistically driving away capital during periods when Kodak could have succeeded in new ventures based on its core competencies and demanding the profit margins the stock had enjoyed from the high margin film business.
Actually, the biggest money maker for EK Co. was 35 mm films. They accounted for 30 - 35 % of all profits. The 126 Instamatic Cartridge was big, but not that big and of course, it had a much shorter life than 35 mm.
I left the company this year. The sad part about staying alive as a company is that senior management is now more concerned with their own jobs than making decisions that are best for the company.
Amen to the Fisher comment. Assasin #1 Kodak had a successful $5 billion market in healthcare and Fisher took out the knife...also carried off several million in his pocket going out the door..
You mention a few but there were many world class scientists who simply left because they could not stomach the direction of the company. Not a good sign when management could care less if the top talent jumps ship!
I left Kodak in the 1991 early retirement package after 25 years. I worked in finance and was very depressed that the company was so mismanaged. I have not owned stock since 1981. One of my projects was Capital Expenditures. In 1990 Kodak spend $2,500,000 on capital. This was a time honored tradition of letting everybody buy what the wanted. I remember going to Toronto and having a tour of the dome stadium and it cost $800,000 So every year Kodak spent enough on capital to build 3 dome stadiums.
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