Eastman Kodak (NYSE: EK), struggling to survive, lost its third director in a week. It is a sign that the company’s rocky past will be followed by a more difficult future. Kodak management has failed in all of its promises to turn the company around and to stop the cash burn caused by an outdated business model. Kodak has claimed that its patent portfolio is worth billions of dollars. However, it has not been able to do one significant patent licence dea to prove that.
The odds that Kodak will filed for Chapter 11 appear to rise sharply by the week, unless the company has an undisclosed secret plan
In a filing with the SEC, EK reported
On December 29, 2011, Laura D. Tyson notified Eastman Kodak Company’s Board of Directors of her resignation from the Board.
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