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Technology Stocks : Eastman Kodak: Exchange your pictures via computer
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To: Wiski1313 who wrote (53)8/7/1997 1:07:00 AM
From: Nero   of 87
 
Edward,

In late 1993, Kodak CEO Kay Whitemore departed the company and was succeeded by George M.C. Fisher. The stock was selling in the low 60s in late 1993. Three-and-a-half years later the stock is in the mid- to high-60s. A 10% increase at best.

The Dow in late 93 was around 3700. It has risen 120% during the same period. EK would be selling at 136 if it had risen proportionately.

Now Fisher might have been handed a bag of manure, though if true it says something about his judgement taking the job. And I wouldn't gauge a CEO's performance soley on stock price. But Fisher has had more than ample time to turn Kodak around and I see little sign of a vigorous company yet. I'm sick of CEOs whose reputations dwarf their deeds. If George M.C. Fisher is a visionary, why haven't Kodak stockholders benefited from his genius?

Fisher may have boosted morale, kept employment rolls intact and been a fine civic leader, but wouldn't Rochester, employees and stockholders have really been better off if EK were the competitive corporate heavyweight that it could have been? How long can Fisher blame past management for his mistakes? Four years? (We don't give U.S. presidents that long) Five years? Ten years?

Fisher's proven talent seems to be collecting a fat paycheck for himself.

nero
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