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Comedy pled Kodak has -- about death watch -- some time ago and including yesterday in the last few hours the Wall Street Journal has reported that the company is exploring bankruptcy.
FOX & Friends host Clayton Morris is here.
What what's wrong with the light on at every turn Kodak has failed to act on their innovation reminds me of those old horse and buggy companies from the early nineteen hundreds that when the cars for coming along saying.
Most cars aren't gonna catch on so when digital photography was catching on Kodak said that's never gonna catch on.
They invented the digital camera 1975 and yet didn't capitalize on.
Also photo sharing over the past few years why in the world of this company.
Not by Flickr photo sharing web sites they loved film and they failed to innovate and they're way behind the industry that would -- when you said Kodak to me the first thing here is camera right when you say that word anyone immediately Kodak cameras and film popped to mind.
Why in the world that this company get into making printers in -- saturated market where you can't really.
-- your margins are so low and you're having the cat you haven't try to give out ink to individuals so they're subsidizing giving out -- to you.
So that -- buy their printer and try to stay in this market for a long time -- it got left is a bunch of patents quite a few of them of the book patents and got a lawsuit against apple and Google implied patent infringement so that hoping to sell off patents and hoping to win the lawsuit.
Get some more money but that's not an operation right it's not enough right when Nortel networks successfully did this sold off a lot of its patents -- -- about four and a half billion dollars.
When -- Kodak tries to do the same thing I'm not sure they're gonna get a lot of money for those patents furthermore they need to be innovating.
Because -- the end of the day they're just going after pennies -- -- going after dollars how do you compete with this when everyone has this in their pocket.
I think Kodak needs to move up to the higher end camera market where there's still a demand.
The discerning eyes and looks at that would argue once that when they get beaten by the Japanese Olympus and all the rest of them wouldn't -- -- that we see back and forth between Nikon and Canon every year people like -- -- they're up they go back to not come they're up so there is still innovation in that space and Kodak does it well.
They just need to get away from this post World War II industrial complex of paying massive pensions and health care benefits that that's the -- that's what really gone.
The legacy costs of pensions and high wages from way back went right what really gone up 191000.
Employees that they have to worry about paying these pensions of course -- they file for bankruptcy.
That gets wiped off they don't have to worry about that -- goes to the government and a massive fix those 191000 people right incidents off their books basically you think they're going to be bankrupt.
Well I look I've seen some of the innovation coming out for 2012 from them and I'm not impressed.
That's death will choose their Clinton must thank you very much indeed.
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