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Eastman Kodak Co

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BUSINESS
November 5, 1993 | From Times Staff and Wire Reports
The Department of Justice said it opposes removing consent decrees dating to 1924 that forced Eastman Kodak Co. to allow other companies to offer processing of its film.
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July 28, 2004 | From Times Staff and Wire Reports
Kay Whitmore, who guided Eastman Kodak Co. for three years before being fired in 1993 for failing to cut costs fast enough to satisfy investors in the world's biggest photography company, has died. He was 72. Whitmore, who had been battling leukemia, died Monday at a Rochester, N.Y. hospital, the company said Tuesday. The cause of death was not disclosed. A chemical engineer by training, Whitmore joined Kodak in 1957, was elected president in 1983 and became chairman and chief executive in 1990.
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BUSINESS
August 5, 1994 | From Times Staff and Wire Reports
Kodak May Buy Control of Qualex: The photographic giant is close to reaching agreement to pay $220 million for Actava Group Inc.'s half-share in Qualex Inc., the companies' photo-finishing joint venture. Eastman Kodak Co., the world's largest photographic company, and Actava are completing negotiations that could seal an accord within two weeks, sources familiar with the transaction said.
BUSINESS
August 22, 2003 | From Associated Press
Grappling with the rapid rise of digital photography, Eastman Kodak Co. unveiled another reorganization aimed at cutting costs and accelerating growth in both consumer and commercial imaging. Kodak hired Hewlett-Packard Co. veteran James Langley to run commercial printing operations. Bernard Masson, president of the Kodak Display Group, will head a new division that will oversee digital and applied imaging, entertainment imaging and consumer and professional imaging.
BUSINESS
January 20, 1993 | From Times Staff and Wire Reports
Kodak to Lay Off 2,000: Eastman Kodak Co. will lay off about 2,000 workers in a move that, combined with other measures, is expected to save the company more than $200 million in 1993. Most of the layoffs will come at the company's Rochester, N.Y., operations. Kodak said it will also reduce spending on research and development, cut administrative expenses and consolidate equipment manufacturing operations at several sites.
BUSINESS
October 19, 1992 | From Times Staff and Wire Reports
Kodak Writes Off $140 Million: Eastman Kodak Co. said it is taking a $140-million charge in the third quarter to cover the costs of job eliminations and to close some operations. The company is selling off or closing some non-photographic businesses, cutting its work force and streamlining its overseas operations as part of a restructuring. The charge will reduce earnings 43 cents a share. The company is expected to announce third-quarter results Oct. 27.
BUSINESS
February 1, 1995 | From Times Wire Services
Eastman Kodak Co., struggling with a massive restructuring to focus on its core imaging business, announced a sharp drop in its fourth-quarter earnings Tuesday. Net earnings at the photography giant sank to $18 million, or 5 cents per share, for the fourth quarter, from $201 million, or 61 cents per share, for the year-ago period. The latest results include a $254-million after-tax restructuring charge, largely for cutting 4,000 jobs, most of them in foreign subsidiaries.
BUSINESS
January 9, 2001 | Bloomberg News
Eastman Kodak Co. said it will reassign most of its 3,500 customer-service employees to various business units to make the service more effective. Customer-service workers not reassigned will be part of a central customer-service unit handling such functions as evaluating satisfaction companywide. It will be run by Frank DiOrio, who also heads service and support at the Consumer Imaging business. Cynthia Martin, president of the former global customer- service unit, resigned.
BUSINESS
July 16, 1998 | From Times Wire Services
Eastman Kodak Co. said Wednesday its profit jumped 23% in the second quarter, better than Wall Street had expected, sparking a rally in the battered stock of the struggling company. Kodak, which has been suffering through a financial slump as it restructures, said it earned $451.4 million, or $1.38 a diluted share, up from $368 million, or $1.11, a year ago. The strength came despite an 8% drop in sales, to $3.54 billion, due partly to stiff competition from archrival Fuji Photo Film Co.
BUSINESS
August 13, 2001 | JOSEPH MENN, TIMES STAFF WRITER
Microsoft Corp., in a concession to the increased scrutiny by Congress and the courts of its business practices, said Sunday it will make it easier for users of its upcoming Windows XP operating system to work with digital photography software from Eastman Kodak Co. and others. Redmond, Wash.-based Microsoft said that when XP users attach a digital camera, they will get clearer choices about what photo software to use.
BUSINESS
June 13, 2001 | Bloomberg News
Eastman Kodak Co. will eliminate 60 jobs and close its Dynamic Imaging unit that makes three-dimensional holographic images, which the company hoped would be used by advertisers. The photography company began closing down the unit's operations June 6, according to its Web site. Most of the workers are employed in Rochester, N.Y. About 12 work in Los Angeles, spokesman Paul Allen said. The positions are part of the 3,000-3,500 job cuts Kodak announced in April.
BUSINESS
April 12, 2001 | From Bloomberg News
Eastman Kodak Co. on Wednesday named former Lucent Technologies Inc. executive Patricia Russo president and chief operating officer as the company tries to make a profit on a $5-billion investment in digital imaging. Russo, 48, will run Kodak's consumer business, which includes the digital operations and film sales for the biggest photography company, Chief Executive Daniel Carp said.
BUSINESS
March 3, 2001 | Reuters
Eastman Kodak Co. suspended its $2-billion stock buyback program to accelerate debt-reduction efforts and give it the financial flexibility to pursue acquisitions. Kodak, which has struggled with lower sales and profits in an intensely competitive market and slowing economic environment, said the move was not an indication of lower-than-expected cash flows. It said first-quarter cash flow is in line with expectations and is consistent with normal seasonal patterns.
BUSINESS
February 7, 2001 | Reuters
Antitrust regulators said Eastman Kodak Co. has agreed to restructure its purchase of Bell & Howell Co.'s imaging unit to address competition concerns in the market for high-speed document scanners. The Justice Department said Kodak would abandon purchase of the document-scanner segment of the business, including the Copiscan and 8000Plus series machines, but still acquire the remaining operations of Bell & Howell Imaging Co.
BUSINESS
February 5, 2001 | Greg Miller
Ifilm, an Internet portal for short films and animations, said it has raised $10 million from an investment group including Eastman Kodak Co., Sony Pictures and Yahoo Inc. The infusion shores up Ifilm's financial position at a time when many investors are backing away from companies in the struggling online entertainment sector. Ifilm, based in Hollywood, offers links to thousands of short films and cartoons, as well as tools and information for entertainment-industry professionals.
BUSINESS
January 9, 2001 | Bloomberg News
Eastman Kodak Co. said it will reassign most of its 3,500 customer-service employees to various business units to make the service more effective. Customer-service workers not reassigned will be part of a central customer-service unit handling such functions as evaluating satisfaction companywide. It will be run by Frank DiOrio, who also heads service and support at the Consumer Imaging business. Cynthia Martin, president of the former global customer- service unit, resigned.
BUSINESS
December 13, 2000 | Associated Press
Eastman Kodak Co. lowered its earnings projections for the second straight quarter to reflect a sharp slowdown in film sales it blamed largely on a slowing U.S. economy. The film sales decline, from a growth rate of between 7% and 8% to near zero, started in September and has "gotten worse as we've gone through Thanksgiving," Chief Executive Dan Carp told analysts. Kodak said fourth-quarter earnings are likely to be 65 cents to 75 cents a share, against a previous projection of $1 to $1.15.
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