Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2831)	9/30/2011 12:55:00 AM
From: richardred	Read Replies (2) \| Respond to of 7254

A small activist shareholder. I very much doubt they have any clout. IMO- It would be much better for someone to hypothetically pick up Kodak assets in bankruptcy court. RE: as what happened to Polaroid. It's all about the pension liability. Kodak Rochester employment went from 60,000 in 1982 to about 7500 today. UPDATE 2-Investor urges Kodak to sell itself Thu Sep 29, 2011 3:32pm EDT * Investment Partners tells Kodak to put itself on market * Kodak shares rise 5 percent (Adds background details, shareholder quote) Sept 29 (Reuters) - A Eastman Kodak Co ( EK.N) shareholder has urged its board to sell the company due to worries about its financial condition, sending the stock up 5 percent. Investment Partners Asset Management, which owns Kodak convertible bonds and about 220,000 shares, said on Thursday it wrote to the company's board to ask it to take immediate steps toward a sale. Kodak did not respond to a request for comment. The shareholder criticized the company's management and called on large shareholders to push for change. Investment Partners co-principal Gregg Abella told Reuters his firm was gaining some support from other investors. "I've received messages of support from a number of shareholders, some with large positions," said Abella, who previously criticized Kodak Chief Executive Antonio Perez. Shareholder Ken Luskin, who said his company Intrinsic Value Asset management holds roughly 4.1 million Kodak shares, also complained about its management. "I support anything that would remove the current management from managing these assets if it requires selling the company or not. Anything is better than what is currently going on," said Luskin, who added his company had bought the bulk of its Kodak shares in recent months in the hope it could cash in on the value of its technology patents. Maybe Bill Gates will by Kodak as a hobby. <g> Last I knew he still owned about 2 percent. The public push came days after Kodak shares hit a 38-year low as investors fled because it drew down a credit line by $160 million, raising concerns about cash flow generation and its ability to compete. [ID:nS1E78P17Z] Kodak shares were up 8 cents, or 5 percent, at $1.63 in late afternoon New York Stock Exchange trading. By comparison shares of Kodak, which has not turned a profit since 2007, hovered at around $90 per share in 1997 before it began its steady descent. (Reporting by Sinead Carew; editing by Lisa Von Ahn and Andre Grenon) reuters.com