If Kodak filed for bankruptcy, why are they at CES?

Last week, Kodak began filing for Chapter 11 bankruptcy protection, according to the Huffington Post, which means troubling times ahead for the company if they're not able to get protection. Sources say that Kodak is planning on selling its patents to recover money, but they announced today they would be restructuring and cutting parts of their business to save additional money.

Business Week reports today that the company has been struggling to make a profit since the decline of film when the digital photography age began, and will now focus on just a few unannounced segments in the business and consumer sectors.

However, despite reports that the 131-year old company is failing and is burning cash, they still managed to show up at Consumer Electronics Show, with a massive booth showing off their products. We even spotted some sort of shiny Android tablet they're selling (or showing off printing from), but there wasn't much in the way of consumer products other than printers. Perhaps things aren't as bad as it's been made out to be? We'll see if they're still around come CES next year.

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If they are going to file and restructure the company then of course they should be at CES. Bankruptcy doesn't mean going out of business. So they would be failing themselves even harder if they didn't show up and promote their products.

xendrome said,
If they are going to file and restructure the company then of course they should be at CES. Bankruptcy doesn't mean going out of business. So they would be failing themselves even harder if they didn't show up and promote their products.

+1. I think a refresher on what Chapter 11 means and who and how others got out of it...

The bankruptcy filing is really just designed to screw all past, present, and future employees out of their pensions and health benefits. 8(

excalpius said,
The bankruptcy filing is really just designed to screw all past, present, and future employees out of their pensions and health benefits. 8(

Which I'm sure they'd get after Kodak closed/locked the doors?

Sometimes employers try to screw their employees, & sometimes it's the other way around, but the notion that there's this limitless supply of cash that all companies have secret access to would be laughable if it wasn't so common.

mikiem said,

Which I'm sure they'd get after Kodak closed/locked the doors?

Sometimes employers try to screw their employees, & sometimes it's the other way around, but the notion that there's this limitless supply of cash that all companies have secret access to would be laughable if it wasn't so common.

Exactly. And no doubt, Kodak wouldn't be in the situation they are in if it weren't for people like that... Pensions (As nice as they are) should really be dropped entirely and retirement plans implemented. How many companies do these pensions need to drag down?

Well, the only way to get out of bankruptcy it to make money, and to make money they need to sell products, and advertising helps sells products so being there is a lot better than dropping of the radar completely without anyone knowing what you're selling.

chAos972 said,
Well, the only way to get out of bankruptcy it to make money, and to make money they need to sell products, and advertising helps sells products so being there is a lot better than dropping of the radar completely without anyone knowing what you're selling.

Exactly.

Kodak made several mistakes in the last 30 years.

They believed that digital media would never catch on....that items like digital cameras would be too expensive for the average consumer and people would stay with their film based camera.

That phones would have the ability to take pictures...in Kodak's view...why would you want a phone that takes pictures? That's what cameras are for.

But by the time Kodak was pretty much left in the dust while other companies profited from the changing world of going from film to digital...Kodak gave up and pretty much admitted they should have changed with the times. But it was too late for Kodak.

Whether Kodak can ever recover and admit that you must adapt to the changing demands of consumers remains to be seen.

But in all honesty...I believe Kodak will not be able to be the photo giant they once were.

texasghost said,
Kodak made several mistakes in the last 30 years...

I think even before the entire film biz started to go away they were also hurt, a LOT, by Fuji's all out assault on the market, from film through processing equipment & supplies. Also think, FWIW, their decision decades ago to focus on the lower end of the consumer market set them up to fail today, with so much digital camera competition in exactly that market... when big names in digital cameras are abandoning that market because they feel it's not possible to make a profit there, that's all Kodak's got. Maybe their printer biz will save them? -- don't know -- but IMHO selling higher priced printers based on lower priced ink cartridges might not be a winning strategy considering how common cheap, 3rd party ink cartridges & refilling have become.

On the bright side, at least I won't have to watch their boring adverts in the rides they sponsor at Disneyland.

its seems like all the more reason to show up...prove they still exist and show off their stuff at the biggest show around.

Isn't part 11 not full Bankrupt, and just to hold on all payments until a new business plan makes them money?

Edited by Redmak, Jan 12 2012, 10:36am :

Corporations can do anything they want if you dont like it strap a rocket to your a$$,light the fuse and get the f@ckin planet.Or do like I do sit around bit@hin about it and gettin kick off of site after site.Either way your wastin your time stressin over it at least my way your still suckin O2,that is till they start chargin for it and the average guy can no longer afford to breath.

FWIW the idea is that people &/or companies can file for bankruptcy when/if they have no hope of paying off debt -- oversimplified, convince the court that your claim's legit & debts go away so you can rebuild/reorganize, & in the case of a company, hopefully avoid closing your doors entirely. Sometimes a company's successful & comes back, e.g. KMart, & sometimes not, e.g. Circuit City, who once they were gone sold their name etc. In the case of Kodak, like any company trying to survive they have to continue trying to make money, & to do that advertising/marketing is key. That's not to say their ROI for the booth etc. justifies their presence, & one would hope their bean counters sharpen their pencils & take a good look at that going forward.

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