Archived posting to the Leica Users Group, 2009/01/07
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]And the Pennsylvania Railroad thought in 1940 that it would go on and on as a profitable, safe investment for widows and orphans. Cars, airplanes, and trucks had their place, but would never supplant trains for freight shipment and long-distance travel. Moral: the old guard almost never bets on major technology changes. They assure investors that change will be gradual, iterative, and not upset current business models. In the early 90s I remember vividly my first Sony Mavica. The pictures were awful, they could only be shown on a TV screen, but the idea of eliminating film (and its attendant inconveniences and delays)in catalog production was really exciting. I was told that the camera was a toy and film replacement for catalog production was a long, long way off. As it turned out, about eight years. Jim Shulman Wynnewood, PA Who has all his money tied up in groceries. -----Original Message----- From: lug-bounces+jshul=comcast.net@leica-users.org [mailto:lug-bounces+jshul=comcast.net@leica-users.org] On Behalf Of Lawrence Zeitlin Sent: Wednesday, January 07, 2009 8:16 PM To: lug@leica-users.org Cc: Lawrence Zeitlin Subject: [Leica] Re: Kodak stock On Jan 7, 2009, at 6:52 PM, Seth wrote: > P.S. I've bought some Kodak shares for my retirement account. > Shares closed > today at $7.34. As of 9/30/08, shares had a book value of $15.97, > tangible > book value (ex: goodwill and intangibles) of $8.73, and the Company > had > $6.72/share in cash. Shares are selling at 1950's prices. Seth, Unfortunately I bought Kodak a couple of decades ago at $44 when the company was riding high on film sales. Digital technology was just a toy in the research labs. The company expected that film would be a cash cow for the next 50 years. It just goes to show that even bright, highly paid executives can be wrong. And in more areas than photography, it turns out. Larry Z _______________________________________________ Leica Users Group. See http://leica-users.org/mailman/listinfo/lug for more information