[Leica] Re: Kodak stock

[sethrosner at nycap.rr.com (Seth Rosner)]

Bad news indeed, Larry. Join the crowd. Of us whose shares havedone the 
viconian spiral. Fortunately, in most cases its not a death spiral. 
Incredible that Kodak invented the digital camera 30 years ago. But because 
these tiny chips that make our equally tiny telephones work were decades in 
the future, Kodak's first digital camera was enormous and the Company didn't 
think it had a future. In that form, it didn't. Current Kodak CEO Antonio 
Perez came from Hewlett-Packard and appears to be doing the necessary to 
ensure survival and long-term success.

Seth

----- Original Message ----- 
From: "Lawrence Zeitlin" <lrzeitlin@optonline.net>
To: <lug@leica-users.org>
Cc: "Lawrence Zeitlin" <lrzeitlin@optonline.net>
Sent: Wednesday, January 07, 2009 8:15 PM
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


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