Carestream has successful first year

May 18, 2008 Full story: Windsor Beacon 13

“We launched many new digital solutions in our medical and dental businesses as well as in our molecular imaging systems and non-destructive testing groups and we are focused on exceeding the expectations of customers in the markets we serve.”

In its first full year as an independent global corporation, Carestream Health, Inc., introduced more than 25 new digital products and services, won several significant industry awards, and generated a range of ... via Windsor Beacon

Full Story
G Knutsen

United States

#1 May 19, 2008
"Carestream Health had a continuous stream of new products in its research and development pipeline when it separated from Eastman Kodak Company on May 1, 2007, after a long and successful history."

Can we just sit back and have a good laugh at that one???? Carestream Health/Kodak has been a "me-too" company for the last 40 years. No great break throughs in anything except in a few successful acquistions and many, many failed ones.
The history has been written on this pitifully run company. Look what happened to the last two Presidents of Kodak Health Group. Marty Coyne cast into oblivion when they found out he was running a shell game with no new products. DMI ring a bell? Dan Kerpelman. Couldn't make it at GE, definitely didn't bring anything to the table at Kodak, Got sacked at a French company and now has to buy into a company to have a job.

Really, spin is one thing. Results are another.
Let's see those sales and profit figures for the first year. When the Kodak subsidy ends next year, even more layoffs will resume on top of the hundreds that are silently being removed this year.

Yeah buddy! A real Canadian success story.
Gregg

Rochester, NY

#2 May 29, 2008
More like "me tried too" lately. I'd say your insight is good. Onex is going to use us for a write off unless they sell off a significant portion of the business. Film profits are getting hammered by high silver prices anything above 13 - 14 an ounce kills profits (17 currently).
G Knutsen

Red Oak, TX

#3 May 30, 2008
Heard through the grapevine that all meetings have been cancelled to save money.

Doesn't sound like a healthy situation.

Looks like the ax is upon us.
bill

Rochester, NY

#4 Jul 2, 2008
the ax has fell on bldg 605 10% and 3PL
Mike_B_in_SC

Westminster, SC

#5 Aug 16, 2008
Kodak management could not have cared less whether the new company was a success or a failure - It was just a vehicle to avoid paying thousands of employees retirement medical benefits.
G Knutsen

Fort Worth, TX

#6 Sep 9, 2008
It appears that Carestream's first successful year is ready to be followed by massive layoffs in the face of rapidly declining sales in every category.
In addition, to be fair to the industry standards, Carestream will now only pay severance of 2 weeks pay for up to 26 weeks of employment versus the usual 52 weeks standard.
It's good they have changed this severance so as not to upset the industry!!! And just in time for the layoffs......what a coincidence!!!
Stand by for abandon ship instructions.
The boat has hit the iceberg.
G Knutsen

Fort Worth, TX

#7 Sep 11, 2008
UPDATE:
CARESTREAM has just announce that it will be laying off 500 to 700 people.

IT WAS A REALLY GOOD YEAR,'EH
Mike

Rochester, NY

#8 Sep 11, 2008
Mostly in Rochester or worldwide?
G Knutsen

Fort Worth, TX

#9 Sep 11, 2008
They say worldwide but they also say 500 to 700 which you know is not all.
Most sales categories "of the future" down 50 to 70%.
This is just the beginning before Onex dumps.
Never was a posibility of survival.
Nothing of value or differentiation.
Onex just didn't know this business.
Gregg

Rochester, NY

#10 Sep 11, 2008
Tremendous pressure to cut costs and still launch new products. This is the last waltz for a former great division of Kodak. Just anounced today all CR/DR to be manufactured in China (CR 1st). I think 09 will be the end of the line for middle management and lower ranks in equipment manufacturing. All this and the upper management A--Holes are sending out surveys to find out if they are communicating well in their Global Pillage meetings. What a bunch of losers!
inkldy

Rochester, NY

#11 Sep 12, 2008
What a joke! We sat in a meeting yesterday where they just slipped in in that they were sending out manufacturing to China, then tryed to go right back to talking about the future of the company! Like the people here in Rochester who are loosing our jobs give a rats a** how Latin America is doing!!! Get a grip Dianna! We all know you aren't loosing your job!
G Knutsen

Fort Worth, TX

#12 Sep 19, 2008
http://www.democratandchronicle.com/article/2...

First we are told that Kodak is shedding the Health Group to a deep-pockets company that will pump much needed cash into R&D so that we can compete with the big boys.

Now we learn that the plan, "all along", was to form an independent company.

What a bunch of kidders. How clever to conceal the plan for over a year. I completely missed the signal when they recently hired a guy off the street whose specialty is divestitures.

To think Onex did this just to help out the company is just amazing!
No concern for profits or the future entered into their equation! I tell you we need more benevolent companies like Onex in this world.

If this were any other entity other than an old Kodak group,... why you'd think they were in trouble financially with pitiful sales and no profits.
DuncanReynaldo

United States

#13 Nov 20, 2008
Uh Ohhhhhh!

Just heard Carestream is laying off over half it's salesforce in the next 30 days.

Guess the first year wasn't as good as they thought.

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