The Kodak Scandal (What Ever Happened to Kodak?)

Kodak, the iconic film and camera company, has suffered a decline over recent years. However, in 2020, it seemed the former titan would make a recovery after it made headlines regarding a $765 M loan from the U.S. Government in 2020. The deal seemed all but done given the positive comments by Donald Trump and other U.S. Government officials—its stock price initially soared over 27 times on the news, and the media widely reported about the comeback of the former giant. However, a scandal ensued because Jim Continenza, the CEO of Kodak, was granted stock options at a very opportune time. This video goes through the history of Kodak's rise and fall, and details the 2020 scandal.

Do you think that Kodak should still be given the loan and what do you think the future holds for the former giant?

Music

Timeline: 0:00 –
Kodak Origins – 1:54
The Kodak Scandal 4:42 –
What is Kodak? 14:31

#Kodak

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[wongzehang]

You are the best channel I have recently found. In depth analysis, no bias judgement and sound conclusions, you sound like an actual analyst. keep up the good work.

[afwaller]

Great video. Fantastic work as always. Cant’ wait to see you hit a million subscribers — it’s coming!

[naomi]

Wow-that ending lol. Thanks for the interesting and informative video. Had no idea what was going on with this scandal, but now I know. Totally guilty imho.

[MrBaskins]

This whole scandal always seemed fishy to me. I know many brands like Kodak and Polaroid only live in namesake licensing (ie: Kodak hoodies at UrbanOutfitters, Polaroid flashlights at Walmart, etc). Kodak failed to innovate so they had to die :/

[ironpaneverything]

This is a great scandal. How does the board think at 9:00 that Continenza needed a raise? What is the board George Costanza? Lol, Kodak Stock up today because the government cleared itself (not Kodak) of wrongdoing!

[orjihvy]

The is quality and well researched content.

[clnoamorim]

As Charlie Munger once said "Show me the incentives and I'll show you the outcome"

[josephfox]

Absolutely, that wasnt a CEO it was a pirate

[outspokengenius]

Kodak does in fact still make consumer products. They manufacture film for consumer photographers in Rochester New York. They make multiple film stocks in multiple sizes for retail sale. This is not a licensing of Kodak's name to another entity.

[danielstapler]

Thanks for this video. Continenza could have foregone the extra options and been up 80 million $ on the day. But instead he wanted 160M$, amazing.
When I first saw the name Adam Chodak 0:07, I thought this was a spoof.
13:35 is another great name :-)

Funny thing: I can see some of his greed in myself.

[Penguin_of_Death]

7:09 Anyone who uses the term 'PCB boards' clearly doesn't know what they are talking about, since the 'B' in PCB already stands for 'Board'...

So he essentially just said "Printed Circuit Board boards"

[arseneboundaone]

That end tho 😳😂 very representative of the company's situation right now
Anyway, great video with lots of data and sound analyses! Plus the graphisms are really nice!

[jputterman]

Apparently Peter "Legend in his own Mind" Navarro has only one suit and tie.

[rezzob]

Sure Kodak has shrunk, sure it doesn't produce anything of market value anymore, sure it's going to sell the last thing left (the Kodak name) and get done with it, but the most important thing is the grubby CEO get's his $10m, that's success right there!

[mhsavas]

Kodak has destroyed its own brand so much, that it is now a generally accepted pejorative term. For example, there is no greater insult than saying to a CEO that they Kodak'ed their company, or that a corporate executive is a "Kodak executive". Even worse, "You should work at Kodak" or "you sound like you worked at Kodak". We now refer to companies that failed to innovate by saying, they got "Kodak'ed".

[engineersteveo]

It’s astonishing that they could not adapt. Similar to the old catalog companies which Amazon replaced. Typical of professional management which is purely self serving.

[SoCalFreelance]

The fact that the shadowy development finance corp was headed by Adam Boehler, former roommate of Jared Kushner, adds facets to the scandal. Also of interest was the fact that 3 million Kodak shares were quietly donated to an unknown jewish organization described as Congregation Chemdas Yisroel.

[matthewbrooker]

If CEOs did The Sopranos....Jim Continenza

[samlyons]

This is missing some IMPORTANT sent out a press advisory on July 27 touting the upcoming loan agreement to various news organizations, only to later scramble to try and rescind it. According to the Journal, the press release did not have an embargo date, which is traditionally the method used by public relations professionals to prevent the publication of information before a certain date. The news was quickly published by TV stations in Rochester, Kodak’s hometown, spreading from there.
Once the information has been leaked they are able to purchase any number of shares they want.

[ishudshutup]

How is this any different than insider trading? Buying shares or granting self options right before substantial private information goes public. Seems like some prison time is missing here.