Kodak Says It'll Figure Things Out and Won't Shut Down (theverge.com)

(Thursday August 14, 2025 @11:30AM (msmash) from the not-done-yet dept.)

Reference: 0178674816
News link: https://slashdot.org/story/25/08/14/1531205/kodak-says-itll-figure-things-out-and-wont-shut-down
Source link: https://www.theverge.com/news/758982/kodak-debt-retirement-funds

Kodak says it remains confident it can [1]avoid shutdown despite [2]filing required "going concern" disclosures about $500 million in debt obligations due within 12 months. The 133-year-old photography company plans to draw approximately $300 million from its U.S. pension fund in December to pay off a significant portion of its term loan before maturity. Chief Marketing Officer Denisse Goldbarg said the disclosure was mandatory under accounting rules but Kodak would emerge virtually debt-free.

[1] https://www.theverge.com/news/758982/kodak-debt-retirement-funds

[2] https://slashdot.org/story/25/08/13/2322248/kodak-warns-it-may-go-out-of-business

That Just Ain't Right (Score:2)

by SlashbotAgent ( 6477336 )

They're publicly stating that they are going to rob the pension fund.

Then what? Their business isn't changing. They're just kicking the can down the road, until next time.

Kodak pensioners are about to get fucked!

Re: (Score:2)

by seth_hartbecke ( 27500 )

I'm a pretty staunch capitalist.

I have seen where companies borrow from the pension fund to do expansions, etc then return the money plus quite a bit of extra to the pension fund. John Deere did this in the 1970's and 1980's, and the pensioners benefited greatly.

However, more often than not it's an act of desperation by management.

This move feels much more like the 2nd. I thought we'd passed legislation a few times to prevent exactly this.

How about Kodak goes back to optical media? (Score:2)

by ctilsie242 ( 4841247 )

Ages ago, in antediluvian times, Kodak made an optical system for WORM storage which went up to around 1-1.5 TB. Doesn't sound like much now, but for the times, that was enormous.

Maybe it is time to revisit storage again? Companies are WAY desperate for some media other than LTO tape for mass storage, and optical storage can do this. About a year ago, some Chinese researchers were able to do 100 TB/platter using 100 optical layers. This isn't exactly new technology, but stuff that hasn't been worked on

Raiding the pension fund? (Score:2)

by JaredOfEuropa ( 526365 )

How is it that companies even have access to their employees' pension funds? Why isn't the fund a separately managed entity that the company (more accurately: the employee) pays into?

Well, that sounds like a better attitude (Score:2)

by drnb ( 2434720 )

> Kodak Says It'll Figure Things Out and Won't Shut Down

Well, that sounds like a better attitude. Hopefully it more than just words.