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 10:58:23 am Views: 53
  • #23561

    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