Originally posted by gaweidert
Not anymore. When they spun off Eastman Chemical in the mid 1994 they essentially took a loaded shotgun, stuck it in their mouth and pulled the trigger. It was all part of their hip new strategy to become an electronics based company. It seemed that every person at Kodak saw the insanity of this but the president of the company. I am convinced that the last president of Kodak was put there to kill the company. Nobody with a job performance record like his would have stayed employed there as long as he was.
He was equally shocked when the first thing that Eastman Chemical did once they were independent of Kodak was raise the cost of the chemicals used to manufacture film by 30%. Prior to the spinoff EKC had to sell these chemicals to the film manufacturing division at cost.
I still get mightily PO'd at how the senior management of Kodak destroyed it. It was not fun to live through.
Having gone to work for a set of enormous corporations after government work, I've seen that exact same dynamic play out so many times. Executive compensation is typically based on stock prices and a few other lesser considered parameters, which in the US style of mismanagement leads to extremely short-term decision-making, like quarter by quarter and rarely anything more than five years at the most.
I retired from a company where the president and CEO (huge mistake combining those, but we're back to the puzzlingly accepted mismanagement in the US) had, first, lost
$4B in cash when a merger move he made didn't come through and the target company got a nice juicy check due to his gamble. I've never seen a company take a $4B cash hit and the president and/or CEO not get fired immediately. That speaks to the inbred nature of US corporate boards and more.
Next, not having learned his lesson, he went on a series of smaller merger purchases, costing billions over and over. As soon as he retired, the new president/CEO set about reversing all the past president/CEOs decisions! Immediately. Selling off companies purchased at high cost for pennies on the dollar!
The kind of turmoil and whiplash that corporation are put through, not to mention the target companies & all employees, is nearly criminal. Kodak, like so many other companies, had an egocentric president who was aiming for self-enrichment, not preservation and continuation of a legendary company so much beloved by generations of people.
I could go on for days about the ways that US companies have poor corporate governance, but we need to stick with photography. All this is a long-about way of saying how much I agree with you. "Original" Kodak (and
Kodachrome and more) should still be with us today. Photography would be much better off for it.