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Tibor Singsank
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If the health imaging group was of any value, why would Perez be trying to unload it?
He sees it as an albatross around the neck of the printing company that he is trying to salvage.
No one can figure a way to make money from this dying division and once the film income is gone, there is nothing else that makes money. High tech is not in Kodak's make up and the medical business has long ago left them in the dust of innovation.
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Norm Newhouse
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Perhaps you should look at the health imaging digital portfolio before making comments like "long ago left in the dust". Kodak has provided innovative products in the computed and digital radiography markets that have prompted other well known vendors to copycat Kodak's technology.
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Tibor Singsank
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If you look closely at the "digital portfolio" you will learn that
1) Nothing is profit sustainable
except for the "film" output
2) There is no "Kodak" Digital Radiography technology. The products are just cobbled together from other's technology and innovation. Don't get caught up in the press clippings.
3) Kodak CR had a brief success upon initial implementation but no longer competes well with Fuji and Konica who continue to innovate. Kodak's look into the "digital" future is best illustrated by the fact that they gave the CR market to Fuji years ago. Just like the digital camera market that they ignored until too late.
4) Name 5 digital products that Kodak invented.
Not the ones that they purchased...the ones that they invented and brought to market. Kodak really hasn't "invented" anything itself since silver halide film if you get to looking.
5) Why do you think it's "For Sale"?
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Shane
AOL
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I don't really know anything about film output, or Digital Radiography technology. I also have no idea what Kodak produces that they did or did not invent themselves. In fact, aside from rolls of film that I have associated with Kodak for as long as I can remember. The only other thing I know of that they make is the $80,000 + laser printers for X-ray machines of witch I assist in building around ten a
day-give or take-depending on demand. It seems fairly profitable to me. As for the above question, "Why would Perez be trying to unload it". Maybe he want's to start investing more of his resources back into the digital camera market. Or perhaps they have plans to start putting more effort and moneys into coming up with new Ideas, and inventions. I don't know. Just a few thoughts for ya. Just cause someones selling a car, doesn't mean it's a lemon. And even a junker in the right hands can be restored to a value much greater than it's original cost.
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Tibor Singsank
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Shane,
Those 10 or so DryView lasers that you assemble each day were "acquired" from 3M/Imation technology. Kodak could never come up with a competitive dry laser and had to buy into the market to stay in the laser business.
The Dryview film is still one of the only products keeping the Health Group afloat along with Analog film.(Kodak's technology is the analog film and it's been around for 100+ years; one of the only things they have ever brought to market on their own that was a success)
Buggy whips were a high profit item in their day but when the horses went so did the business. Without new technology businesses die in this day and time. Kodak rested on their film business for too many years and are now paying for it drastically.
Tip: Don't make an offer on this "used car". See today's Non-announcement about not finding a buyer for the Health Group, "YET"!. They really have nothing to offer for long-term viability and most suitors have figured it out.
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Shane
AOL
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Tibor Singsank,
You say that the Dryview is one of only pruducts keeping Kodak afloat, but that printer is for sale along with the rest of their health imaging dpt. As far as Kodaks ability to keep up with the times, I have no knowledge to support an argument for or against that.
I don't know what a non-announcement is, but I've been lead to believe by my supperiors that a deal with Phillips is in the workings. They seem to be fairly sure that it will happen between Jan. and Feb of 2007. Of course they don't tell us little guys on the production floor everything. Pretty much "need to know basis".
You seem to know alot about Kodak; may I ask why?
As I read that question back to myself it sounded kind of rude, but I honestly don't mean it to be. I'm just curious.
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Greg
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I work in the health group on the development side. Shane, it's nice to be optimistic but I can tell you that for the most part Tibor's comments are on the money. We are losing very talented people in our area (Phd's, MS, and software developers) simply because they do not see a future. There are one to three years of milking profit to be done but once done there is little worth the 1 to 2 billion being asked for the unit. I predict Perez may get sacked by the board by the end of the year for damaging sales by his early announcement. Think about it. If you are buying a car would you by vehicle that may have no service or warrantee available and if you buy on contract no legal recourse. Do you know if your machines are going direct to customer or sitting in a warehouse (don't answer I just want you to think about it).
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Shane
AOL
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So are you guys saying that Kodak's trouble is strictly with the health immaging department-so they are trying to get rid of it, or are you saying that the entire company is in trouble. And if the entire company is in trouble, which is what it sounds to me like Tibor is trying to say, than why just sell part of the company.
Also I am curious as to what other companies have competing products in line with the health group. I'm really not sure what other products Kodak has in that department besides those printers, but I assume there is a lot more to it than that since I was told that the health immaging department is 1/3 of Kodaks company.
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Tibor Singsank
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Shane wrote: So are you guys saying that Kodak's trouble is strictly with the health immaging department-so they are trying to get rid of it, or are you saying that the entire company is in trouble. And if the entire company is in trouble, which is what it sounds to me like Tibor is trying to say, than why just sell part of the company.
Also I am curious as to what other companies have competing products in line with the health group. I'm really not sure what other products Kodak has in that department besides those printers, but I assume there is a lot more to it than that since I was told that the health immaging department is 1/3 of Kodaks company. Shane, The "entire company" lost over $2 billion dollars in the last 2 years. All three of the divisions are in trouble. They are trying to sell the Health Group to eliminate liabilities of pensions,etc and to raise money to pay bills for the rest of the company. The Health Group cannot compete with GE, Siemens, Philips, etc because they don't have any technology of their own that most customers want. They have started over so many times that the public has doubts the company can survive long term. The Photo Group is trying to figure out a product line that will make money and if they try to compete with HP, Canon, Sony, etc in the printer market it will likely fail as they are so late to the market. The only Group with a chance is the Commercial Printing Group and the only reason is that Kodak bought so many existing companies with technology that they have a customer base established through the acquisitions. It is a very sad story but Kodak has not come up with any innovation of it's own for so long that the only profits still come from film; and it's life span is rapidly ending.
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Shane
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Thanks for the info Tibor.
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Summer
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What is this about Philips acquiring? Does anyone have any more info on that?
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Gerto
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Should the announcement be posted today in order to be official 90 days prior to separation?
Or, are there no obvious deal in place??
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Gerto
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One of Kodak's problem is that the organisation do not accept critical employees. having no such people, the company looses progress. I think there are several milestones where Kodak made the wrong choice, I think one smart move would have been to move the head office outside US long time ago. As well for research and development. These are just a few stones.
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Finally sold maybe
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Gerto wrote: Should the announcement be posted today in order to be official 90 days prior to separation?
Or, are there no obvious deal in place?? The buzz at the plant is that we've been sold. Announcement to come in the next few days
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FX ET
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Summer wrote: What is this about Philips acquiring? Does anyone have any more info on that? Summer this rumor sounds loud, I knew that the decision was between an american and a canadian company. Somebody answer if it is Philips the new owner of Health Group....
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jeff
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I heard today that the annoucement will be on next tuesday.
The rumor in Paris is between the private equity and the spinoff.
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cranky
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we were told yesterday that the announcement would come tuesday also... some of the observations mentioned on this board are spot on and i feel very sad that a once great company like Kodak has failed so miserably to stay relevant.
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Alpha
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Hello, I work in one of the subsiduary companies Kodak owns in the Health Imaging Group.
Are you saying that the whole Health division has been sold to one company?
Also, its a bit early to ask this, but does anyone know if the subsiduary companies Kodak owned will be properly integrated into the new owners. Or could we be seeing deja vu in a few years time again?
Thanks.
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Greg
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As of 1/5 the rumor is that a private equity firm called ONEX (based in Toronto) will be the buyer. They compete with the likes of Berkshire-Hathaway and recently acquired Raytheon. The word around my unit in Rochester is that they are a slice and dice operation. If your unit in HI makes money they will likely leave it alone or perhaps sell to someone else. My take is that in the next 2 or 3 years most of HI will be sold off in small chunks or closed down (may be case for whole company if printing doesn't fly for the ex-HP cadre leading Kodak down the tubes currently). Cheaper for mother Kodak if the number of employees involved don't get the traditional kodak pakage. Hope I'm wrong about the last 2 statements but I think the odds are I'm right
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Gerto
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Well, another thought coming to my mind is, will Health Group be sold at all?? Maybe nobody gives a decent offer for the unit? I guess that by tomorrow we will know
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Judge it!
