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.

Technology Stocks : Eastman Kodak Company (NYSE: KODK) -- Ignore unavailable to you. Want to Upgrade?

To: Josef Svejk who wrote (50)	3/10/1998 8:15:00 PM
From: Joe Basile	Respond to of 484

Hi Joe, some local Kodak news here in Rochester. The media's been jumping up and down about 9 different chemicals found 10 feet below the ground just north of the Kodak Park area. I'm not sure if you hear these kinds of tidbits, but I thought you might be interested. Lawsuits against the company which involve parents claiming there children got cancer etc. due to chemical emissions are fairly commonplace in these parts. I highly doubt these reports have any meaningful impact on the share price. However, I find the recent behavior of the shares disturbing from a relative strength stand point. Kodak is behaving like a stock poised for further decline. Of course, I hope I'm wrong on this. I sold 1/2 of my position at 67 9/16 recently. I'm going to spread the money around using VTSMX...the Vanguard Total Stock Market fund. Taking specific stock risk in EK doesn't make as much sense to me anymore. Regards, Joe

To: Josef Svejk who wrote (50)	3/17/1998 7:44:00 AM
From: Wiski1313	Read Replies (1) \| Respond to of 484

Josef The turnaround yesterday I believe was linked to comments coming from George Fisher yesterday. I can't remember his exact comments but said something to the point of earning being on track for the first quarter. You know the routine. They reduce expectations in the beginning of the quarter and our on track at the end of the quarter. In order to boost morale of its employees, Kodak is offering stock option grants of 100 shares to each employee. In order to everyone a stake in the company's future. Kodak Meeting Reveals Plans For The Future Kodak workers who have endured months of uncertainty and painful cutbacks are meeting with the bosses this week. CEO George Fisher and President Dan Carp began a series of town meetings Monday morning. After an employee session at Elmgrove, Fisher and Carp met with reporters to share the latest vision of the company's future and to give an update on the cost cutting that will cut the workforce by almost 20,000. "We think we've got a pretty good plan," said Fisher. "We think we have to put together a aggressive two year plan. Over that two year period we're going to come out looking awfully good". Kodak employees heard for the first time about a new stock option grant that the company hopes will give them a greater stock in Kodak's future. Employees are being given 100 shares,and if Kodak goes up, they profit. Fisher acknowledged there was another reason for offering this one time deal. "It is a chance to tell people that we understand the pain they are going through," said Fisher. "We hope there is some gain at the end of this pain". However Fisher's financial pain is different than that of the average Kodak worker. The question of his exercising stock option last year just before it nosedived came up. "Yes, I did that," said Fisher. "I still remain probably one of the largest if not the largest individual shareholder of stock and stock options in the world of this company. I have a tremendous stake in the future of this company". Fisher says Kodak's turnaround will be gradual and he expects this year to be better than the last. The question now is, how much will George Fisher's bonus be this year? Given the low wage dividend handed out to most employees, a lot of people want to know. However there will be no bonus for Fisher this year. That was another revelation he made during Monday's meeting. "I get no bonus this year, I don't deserve a bonus," said Fisher. The on-going job cuts and Fisher's strategy for making things right again are the meat of his meetings this week. I truly believe that Kodak was lucky to have Fisher as a CEO. They really needed somebody like him to navigate Kodak through this turbulent period.He seems to understand the magnitude of the task.