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To: Terry Whitman who wrote (141149)	1/1/2002 11:16:38 AM
From: John Madarasz	Read Replies (1) \| Respond to of 436258

those charts are averages of all years, and bear market years are fewer than bull or flat, so i would have to think that making an assumption that the first week in Jan is always a good one could be very subjective. Message 16819336

To: Terry Whitman who wrote (141149)	1/1/2002 12:55:45 PM
From: MythMan	Read Replies (2) \| Respond to of 436258

re; EK.....while their film business generates cash, I'm thinking digital cameras have to be kicking their ass. Many people now just save and pass along electronic versions of pictures....no paper. I looked at EK too and took a pass.

To: Terry Whitman who wrote (141149)	1/1/2002 1:32:06 PM
From: MythMan	Respond to of 436258

>>Since September, Roberts has been encouraging investors to steer clear of Kodak. The New York Stock Exchange-listed shares had been holding steady around 45, as investors took solace that the photography giant could maintain its 4% dividend yield by wringing more cash flow from operations. But the U.S. consumer market for film, which underlies half of Kodak's sales and operating profits, has been declining at an 11% annual rate as digital photography grows. Kodak is faring even worse, with 19% declines in film volume as it scraps for a shrinking market against Fuji and the private-label offerings of Wal-Mart Stores. Kodak aims to expand its digital business, but there's not much of a market for paper versions of digital images. "A lot of people don't even print their digital photos," says Roberts. "They just move them around electronically." And, although the company is making gains in the digital-camera market, it's still a small part of its business. Medical imaging has kicked in about a quarter of Kodak's profits. Hospital buying groups have bargained down prices on X-ray film, however. In hospitals, too, digital is taking over from film. Radiologists tell Roberts that Kodak's digital products aren't competitive with those of General Electric, Philips and Siemens. In October, Kodak guided down December quarter earnings expectations from about 46 cents a share, to 15 cents. Its shares have fallen to around 31, but Roberts believes Kodak could fall to 22. "We expect the [$1.80] dividend to get cut," he says, "and the dividend is one of the main props of the stock." Kodak spokesman Paul C. Allen told Barron's the company does not comment on analyst research.<<