KODAK CEO WILL NOT CUT ANYMORE JOBS ( LIVE VIDEO ) !

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KODAK CEO WILL NOT CUT ANYMORE JOBS ( LIVE VIDEO ) !

 user 2010-02-08 at 10:59:00 am Views: 39
  • #23644

    KODAK CEO WILL NOT CUT ANYMORE
    JOBS !

    CLICK ON THIS
    LINK BELOW TO SEE LIVE VIDEO

    http://www.youtube.com/watch?v=2wFunT78vp4&feature=player_embedded
    Kodak presents growth
    strategy to Wall Street

    NEW YORK —
    Eastman Kodak today is a $7.6 billion company selling digital cameras to
    consumers, film to Hollywood, digital printing plates and software to
    commercial printers and inkjet printers to homes and small offices.Kodak
    by year’s end hopes to be a $7.7 billion company also selling massive
    commercial inkjet printers and a lot more ink.And Kodak by 2012 aspires
    to be an $8.5 billion company where digital products and services
    account for more than 80 percent of sales and half of its film-making
    assets are used for products other than film.“We are starting 2010 with
    the best momentum possible — the best momentum I can remember with the
    company,” CEO Antonio M. Perez told an audience of 200 on Thursday in an
    ornate meeting room at the New York Stock Exchange.

    The meeting —
    Kodak’s annual strategy session with Wall Street analysts — featured
    executives such as Perez providing details about the company’s business
    plans. Those plans are for a company increasingly reliant on recurring
    revenue from sales of ink for its inkjet printers and services to
    commercial printers and film makers, Perez said. The company, for
    example, hopes to double its ink revenue this year.A watershed moment is
    looming for Kodak. Just as digital revenue surpassed the traditional
    film business in 2006, Perez said revenue from the consumer inkjet
    business should surpass film this year. The good news for Rochester:
    Most of that ink manufacturing is done at Eastman Business Park.

    And
    while the film business — Kodak’s traditional cash cow — continues to
    shrink, revenue generated by the company’s Film, Photofinishing and
    Entertainment Group could conceivably level off by 2014. The group’s
    stability could be achieved as Kodak increasingly uses its film-centric
    manufacturing operations, which are heavily Rochester-based, to serve
    related industries.Examples would include selling inks and dyes to the
    personal care product industry and gels to the pharmaceutical industry,
    said Brad Kruchten, group president.One other area where Kodak said it
    hopes to carve out a market is in packaging printing. Currently a niche
    business for the company, its Flexcel equipment and software could
    double in value to a $300 million operation by 2012, said Kodak
    President Philip J. Faraci.

    The company last week said it made a
    profit in the fourth quarter for the first time in the past five
    quarters, but it still lost money for the full year. Kodak officials
    said Thursday they’re hoping for improved results this year because of
    productivity gains. Like many companies, Kodak’s bottom line is being
    helped by doing more with less. It eliminated 2,500 jobs worldwide last
    year and now employs 20,300 people, 7,400 of them in the Rochester area.

    Kodak
    plans to do $50 million to $60 million worth of restructuring this year
    — a “dramatically reduced level,” said Chief Financial Officer Frank
    Sklarsky.While the company did not provide details, that dollar amount
    likely would translate into a few hundred jobs. Sklarsky said some of
    those cuts would be overseas.“The major restructuring is behind us,” he
    said. “(We’re) now focused on growth.”During the strategy meeting, Perez
    indicated that the Kodak board, which he chairs, isn’t looking to
    resume paying dividends on shares anytime soon. And he was visibly testy
    in an exchange with one questioner who argued that Kodak depends on
    past glories in intellectual property.

    Other investors were
    willing to cut the company a bit more slack.“It looks like they’re
    headed in the right direction,” said shareholder Joel Keller of New
    Jersey. “It’s just the times now — every company is suffering. Kodak
    will work out the problems.”

    http://rocnow.com/article/business/20102050322