Eastman Kodak Company (KODK)

[MinnieM]

This deal has been worked on for months. I've never voted Republican in my life, but, Trump has been trying to get more manufacturing back into the US.

As a reminder, here's a recap of recent events.

DFC to Sign Letter of Interest for Investment in Kodak’s Expansion Into Pharmaceuticals
https://www.dfc.gov/media/press-releases/dfc-sign-letter-interest-investment-kodaks-expansion-pharmaceuticals

I viewed this as a good turn of events since it’s about time we started bringing back manufacture of raw materials to the US. I'm tired of seeing China manufacture 100% of them. Large pharmas got out of that part of the business years ago thinking there isn't enough margin in it.
Kodak isn't as strange a choice as some think. They've been heavy into chemical manufacturing for years.

The FDA still lists the Rochester plant as an API manufacturer. This expires in 12.31.20, but, my guess is that it's going to be renewed.

Just type in Kodak where it says "Search for Firm Name"
https://www.accessdata.fda.gov/scripts/cder/drls/getdrls.cfm

They clearly have a history in this arena.
http://www.wicz.com/story/42451868/how-kodak-went-from-photography-pioneer-to-pharmaceutical-producer

“1988: Kodak made an earlier foray into the pharmaceutical industry when it bought Sterling Drug Inc. for $5.1 billion. At the time, Kodak was the largest maker of photographic products in the world, but it faced growing competition in photography, and was in the process of diversifying its business. The company already had a life sciences segment, which the Sterling acquisition was intended to boost, the New York Times reported at the time.

1994: Kodak sold off the remainder of its Sterling assets for $2.9 billion in cash, part of a move to concentrate on its core photography and imaging business. Kodak had previously sold Sterling's pharmaceutical business for nearly $1.7 billion in cash, according to the Associated Press.”

Then, we got this:
https://www.nbcnews.com/politics/donald-trump/trump-s-perfect-storm-kodak-deal-getting-new-scrutiny-n1235817

But the stock surge was based only on a letter of intent — not an actual loan — from a new and little-known government agency called the U.S. Development Finance Corporation that was created to provide foreign aid and is run by White House Senior Adviser Jared Kushner's former roommate Adam Boehler.

My hope is that the SEC investigation ends soon & doesn’t find an issue with the company. But, that is up in the air. Even if cleared, the company made some stupid moves. Perception can be more important than reality. They should have known it looked bad.

Most large pharmas don't want this business due to it being low margin. I’d like to see them get the loan in the long run after the dust settles.

Regarding Trump family making money on deal? That seems to go with politics in general. Obama entered office without much in funds and left office very wealthy.

I’d just like to see more manufacturing in the US and hope this works out. Although, it's looking doubtful.

It was a legitimate attempt to help a US company while helping the US. It wasn't a pump and dump. But, it's falling apart due to massive management stupidity.






Message in reply to:

trump just woke up and thought ill give kodak 850 million dollars today. it was a planned pump and dump and the trump family cleaned up