Kodak Lands $765 Million U.S. Loan in Start of Medical Supply Chain Fix

Discussion in 'Economics' started by bone, Jul 28, 2020.

  1. Pekelo

    Pekelo

    Then you just go up higher with the CYA part.
     
    #41     Aug 10, 2020
  2. vanzandt

    vanzandt

    Uh huh lol....
    Look at that chart of RIOT I posted somewhere. Ya just never know Pek.
     
    #42     Aug 10, 2020
  3. dealmaker

    dealmaker

    ""
     
    #43     Aug 11, 2020
    d08 likes this.
  4. Cuddles

    Cuddles

    [​IMG]
     
    #44     Aug 11, 2020
    d08 likes this.
  5. Overnight

    Overnight

    The FACK do ultra-orthodox Jews need charity for? To build a supercomputer to figure out how to properly read the Torah in the native Hebrew?
     
    #45     Aug 11, 2020
  6. Cuddles

    Cuddles

    Now that they got caught, admin throwing Kodak under the bus:
    https://www.cnbc.com/2020/08/17/whi...ro-rips-kodak-executives-as-dumbest-ever.html

    'You can't fix stupid' — Trump trade advisor Peter Navarro rips Kodak executives as dumbest ever

    • White House trade advisor Peter Navarro blasted executives at Eastman Kodak for their handling of a government loan to produce pharmaceutical ingredients in the United States.
    • "Based on what I'm seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history," Navarro said.
    • "You can't fix 'stupid,'" he added.
    White House trade advisor Peter Navarro blasted executives at Eastman Kodak on Monday for their handling of a government loan to produce pharmaceutical ingredients in the United States.

    "Based on what I'm seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history," Navarro said on CNBC's "Squawk Box."

    "You can't fix 'stupid,'" Navarro added. "You can't even anticipate that degree of stupidity."

    The $765 million government loan to Kodak has been put on pause as the Securities and Exchange Commission investigates the company's disclosure of the deal, which was officially announced on July 28.
     
    #46     Aug 17, 2020
  7. Cuddles

    Cuddles

    #47     Aug 17, 2020
  8. Cuddles

    Cuddles

    #48     Aug 18, 2020
  9. Cuddles

    Cuddles

    https://www.cnn.com/2020/12/07/investing/kodak-stock-loan-government-report/index.html
    Kodak's stock soars 80% after probe reportedly finds no wrongdoing in government loan
    New York (CNN Business)Kodak's stock rocketed about 80% higher in early trading Monday after the US government reportedly found no wrongdoing in Kodak's now-halted $765 million loan to help the company produce pharmaceutical ingredients.

    US government regulators reportedly have been investigating why Kodak announced the loan on July 27, the day prior to the official announcement -- the same day some executives, including Jim Continenza, Kodak's executive chairman and CEO, received stock options.

    Kodak, in a statement to CNN Business in August, said it didn't intend to make those details public until July 28. The stock soared nearly 3,000% in the days following the loan announcement and has since fallen back to earth.

    But the inspector general of the US International Development Finance Corp
    , which brokered the deal, found no evidence that "employees of the agency had any conflicts of interest in the plans," according to the Wall Street Journal. The inspector general's report also found no wrongdoing in the government's process of administering the loan, the newspaper reported.

    The agency or Kodak (KODK) didn't immediately return CNN Business' request for comment.
    Kodak, the camera equipment manufacturer, attracted attention -- and criticism -- for the first-of-its-kind loan during the summer. It received a Defense Production Act loan from the government as part of the effort to reduce dependence on foreign drug makers for Covid-19.

    The loan, however, remains on an indefinite hold pending an investigation from the Securities and Exchange Commission and other questions from lawmakers.

    A report released in September also found no wrongdoing on behalf of government employees. Although the review found no signs of Kodak breaking the law, it did find the company mishandled stock options granted to its CEO in the days leading up to the loan deal being signed.

    The review by the law firm Akin Gump Strauss Hauer & Feld concluded insider-trading laws were not violated, noting Kodak executives were informed by the general counsel that the application process for the loan was "at a highly uncertain stage."

    "Kodak is committed to the highest levels of governance and transparency, and it is clear from the review's findings that we need to take action to strengthen our practices, policies, and procedures," Kodak said in a previous statement.

    Kodak traded around $33 per share following the July announcement, but has fallen to $7.53 per share as of Friday's closing.
     
    #49     Dec 7, 2020
  10. So why is it at $14 AH knowing their benefactor Trump is heading out the door. Short coverage or WS Bets?
     
    #50     Dec 7, 2020