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Jennifer is Co-host of The Story of Liberty Radio Broadcast, video editor and creator, blogger & Web designer for the Story of Liberty. TheStoryofLiberty.net

KODAK Preparing For Chapter 11 Bankruptcy… CEO On Obama’s Jobs Council…

The once-iconic photographic film pioneer is in talks with potential lenders to secure about $1 billion in debtor-in possession financing to sustain Kodak through bankruptcy proceedings, the Journal reported, citing unidentified sources.

The Chapter 11 filing could come as soon as this month or early February, the newspaper said.

From whitehouse.gov: Since joining the company in April 2003, Kodak’s Chairman and Chief Executive Officer, Antonio M. Perez, has led the worldwide transformation of Kodak from a business based on film to one based primarily on digital technologies. In the past seven years, Kodak introduced an array of disruptive new digital technologies and products for consumer and commercial applications that generated approximately $5.5 billion in revenue in 2010. Those include, among others, consumer inkjet printers, pocket video cameras, sensors for digital products, and dry labs for printing at retail, as well as offset-class commercial inkjet presses, high-volume digital production presses, digital controllers, workflow software solutions and digital plates for commercial printing and packaging. The result is a new Kodak — a company where digital products account for 75 percent of revenue, where higher gross margin commercial businesses account for more than 50 percent of revenue, and with a portfolio of cash-generating traditional businesses.

Read more; http://www.whitehouse.gov/administration/advisory-boards/jobs-council/members/perez

Read more: http://in.reuters.com/article/2012/01/05/eastmankodak-idINDEE8030FO20120105

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