Ted Striker
Well-known
Kodak is a zombie company, a dead man walking. They are seeing a disastrous drop in revenue and a even worse date in 2019 when they need hundreds of millions of dollars (that they do not have today) to pay off their preferred stock holders.
It is going to get much worse for Kodak before it gets better, assuming it ever does.
Robert Lai
Well-known
Way back in 1984 (that Orwellian year), I tried Kodak Royal 1000 color negative film. It was truly awful. Gigantic sandpaper grain. Washed out colors. I regretted using the stuff for an important event.
Since then I've gone to the opposite extreme. I had great days with Tech pan, shooting with ISO 12, and doing my own development in the Tech Pan developer. Contrast was always hard to tame though.
Kodachrome 25 for color
.
Tried Pan F. Still a problem with high contrast with Ilford Pan F.
Worked very well in Ilfotec DDX.
So far, I'm in love with the look from Rollei's RPX 25.
Since this Kodak film was reintroduced, I've started to wonder what it may be useful for. So, I've pre-ordered some rolls of that, as well as some Delta 3200.
After more than 30 years, it's worth trying something again - high speed film, that is. And, exploring its possibilities with an open mind.
Since then I've gone to the opposite extreme. I had great days with Tech pan, shooting with ISO 12, and doing my own development in the Tech Pan developer. Contrast was always hard to tame though.
Kodachrome 25 for color
.Tried Pan F. Still a problem with high contrast with Ilford Pan F.
Worked very well in Ilfotec DDX.
So far, I'm in love with the look from Rollei's RPX 25.
Since this Kodak film was reintroduced, I've started to wonder what it may be useful for. So, I've pre-ordered some rolls of that, as well as some Delta 3200.
After more than 30 years, it's worth trying something again - high speed film, that is. And, exploring its possibilities with an open mind.
f16sunshine
Moderator
The old P3200 was much..much cleaner, sharper, and just plain prettier than K400 and I like K400 (for edginess/grittiness not detail).
If this new film is the old film, folks will be happy.
john_s
Well-known
If you're interested in a comparison of Delta 3200 and TMax 3200 have a look at
http://www.butzi.net:80/articles/theater.htm
You'll have to use the wayback machine as Paul Butzi's web site seems to not be up.
The take-home message is that he found the shoulder of the Delta a disadvantage when taking photos in high contrast situations such as on stage.
http://www.butzi.net:80/articles/theater.htm
You'll have to use the wayback machine as Paul Butzi's web site seems to not be up.
The take-home message is that he found the shoulder of the Delta a disadvantage when taking photos in high contrast situations such as on stage.
joeswe
Well-known
:bang::bang::bang:
HHPhoto
Well-known
Hi,
could you please give a valid source for ".....date in 2019 when they need hundreds of millions of dollars (that they do not have today) to pay off their preferred stock holders."
Thank you very much in advance!
Cheers, Jan
Ted Striker
Well-known
Good god that's ridiculous!!!! I feel for you man. Those prices are simply awful. I hate digital but I think given that price I'd have to go that route.
Ted Striker
Well-known
Kodak was recently downgraded by two analytical firms and inside one of the reports was the information that preferred stock issued by Kodak had to be repurchased in 2019 at $17.50/share if the price was below that level (it's currently $6.xx/share). The conclusion of the downgrade was a statement of a near certain second bankruptcy. The stock plunged hard after these reports came out of course.
That report seems to be behind a paywall now so I can't reference it here. I am still looking for a free copy of it and will return here to post it if I am successful.
Edit: While searching for the above report, I found a different one, one that is sadly even more bleak about Kodak's future than the original one I referenced. Here's a snippet.
"Kodak’s results and significant negative guidance revisions are not the result of an industry-wide slowdown; they are symptomatic of poor execution, an uncompetitive product set, and lack of operational visibility. Kodak shareholders are underwriting an increasingly vulnerable credit profile. In an S&P report following 3Q17 results, downgrading the rating on Kodak’s credit to CCC+/Outlook negative, the agency noted diminished liquidity reserves, low covenant headroom and estimated recoveries of ~65% for the senior bank debt in the event of a default. 36 For retail equity investors unsure of the implications of that statement, it means that S&P sees so little value in the company that even the most senior of creditors will not be made whole and the equity is worthless."
"In our leverage and free cash flow forecast, we conservatively assume cost-saving measures succeed in keeping operational EBITDA flat and free cash flow improves from 2017 but remains negative. Even with this relatively optimistic set of assumptions, we estimate Kodak will violate its senior secured leverage ratio covenant of 2.75x by 1H19."
This is from a 21 page article that gives THE most thorough analysis of Kodak's financial metrics I have ever seen. In no instance does any metric look positive. Kodak's cash flow situation is absolutely dire. They need hundreds of millions of dollars to break even and their cash flow is trending downwards, not up.
That is why we are seeing this Kodak Coin scam. The situation is so desperate that anything that can generate revenue is being tried, despite it having almost no chance to succeed.
Ted Striker
Well-known
Conclusion:
Every groundbreaking innovation that captures market fascination has talented developers who apply the technology in a thoughtful manner. It also has imposters, looking to trade on the promise of the technology without any legitimate chance of delivering. Kodak has licensed its brand to the latter. As a result, the story behind the rise in its shares, which couldn’t have been scripted any more bizarrely, will not have a Hollywood ending. ICO proceeds and distant royalty revenue will not be enough to avoid equity dilution or a credit event. Eventually, possibly as soon as the next time Kodak reports earnings, a share price levitating on the hopes of blockchain technology will give way to the gravity of dying, old-world fundamentals.
Every groundbreaking innovation that captures market fascination has talented developers who apply the technology in a thoughtful manner. It also has imposters, looking to trade on the promise of the technology without any legitimate chance of delivering. Kodak has licensed its brand to the latter. As a result, the story behind the rise in its shares, which couldn’t have been scripted any more bizarrely, will not have a Hollywood ending. ICO proceeds and distant royalty revenue will not be enough to avoid equity dilution or a credit event. Eventually, possibly as soon as the next time Kodak reports earnings, a share price levitating on the hopes of blockchain technology will give way to the gravity of dying, old-world fundamentals.
HHPhoto
Well-known
@ Ted Striker:
Thank you for the information.
Cheers, Jan
Thank you for the information.
Cheers, Jan
Ted Striker
Well-known
I wish the news delivered was more positive!
Oren Grad
Well-known
hipsterdufus
Photographer?
Phil_F_NM
Camera hacker
Here we go again.
Phil Forrest
Phil Forrest
Ted Striker
Well-known
Eric- Kodak Alaris does not produce ANY film. They market Eastman Kodak's film. Eastman makes all movie and still film but only sell the movie film. Alaris markets the still film that Eastman makes. Unfortunately for Alaris, they are tied directly to the fate of Eastman at least with regards to film.
hipsterdufus
Photographer?
Thanks for clearing that up. I didn't know that.
traveler_101
American abroad
Perhaps we should start a new thread on this, but I wonder what happens after they go belly up? Is everything liquidated?
john_s
Well-known
I wonder if the scanning of parcels in the post is similar to that given to carry-on luggage on the one hand, or check-in luggage on the other. There are reported to be big differences between the two.
Fixcinater
Never enough smoky peat
Have you ever used Kodak's 3200?
Keith
The best camera is one that still works!
This thread has taken a disturbing twist. Normally when someone predicts the demise of Kodak we all laugh and move on and tell ourselves that Kodak will continue on no matter what because after all didn't they put the power of photography into the hands of the average person who wasn't necessarily a photographer ... all those years ago. In many of our minds, (depending on your age) they are all but immortal.
Suddenly I'm not convinced!
Suddenly I'm not convinced!