Mainecat Posted July 31, 2020 Share Posted July 31, 2020 Like I said in a previous post Kodak sucks donkey dicks. The Grifters, chapter 1 - Kodak https://www.epsilontheory.com/the-grifters-chapter-1-kodak/ On Tuesday afternoon (July 28, 2020), the White House announced that Kodak – a public company with less than $100 million in market cap, basically a pension fund with a famous brand name attached – would receive $765 million in “loans” from the US government to create a “pharmaceutical start-up” that over a period of 8 YEARS will start making pharmaceutical “supplies”. Whatever the hell that means. This $765 million in non-recourse, non-secured loans for pharmaceutical supply production, given to this micro-cap company with zero experience or expertise in pharmaceutical supply production, comes from the International Development Finance Corporation (DFC), a $60 billion piggy bank established by the Trump administration in 2019 to replace the Overseas Private Investment Corporation (OPIC). Yes, “international development” and “overseas investment”. On the corporate-grift side, it’s Kodak Chairman and CEO Jim Continenza (SEC CIK 0001197594), who picked up about 3 million shares and cheap options over the past year. It’s Kodak board member George Karfunkel (SEC CIK 0001085765), of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz (SEC CIK 0001579836), who owns about 4.3 million shares through at least five shell companies. Oh, wait, you thought Jim had a background in manufacturing or pharmaceuticals? Hahahahahahaha. Hooo, boy, that’s rich. No, no … Jim is a marketing guy. Shocking, I know. Based on yesterday’s closing price of $33.20 for the stock, I figure Jim and George and Philippe have made about $400 million over the past 48 hours. The numbers looked even better when Kodak hit $53 earlier earlier in the day, but easy come, easy go. On the government-grift side, it’s Donald Trump, who gets a press conference and a talking point. It’s Commerce Secretary Wilbur Ross and Secretary of State Mike Pompeo, who sit on the DFC board of directors and approved this deal, each pocketing a favor. It’s Larry Kudlow, University of Rochester alum and friend of Kodak, who pockets a BIG favor. It’s Adam Boehler, 41 year-old CEO of the DFC, who cements a lucrative career once his government “service” is complete. Crony capitalism. In its purest form. Quote Link to comment Share on other sites More sharing options...
Snake Posted July 31, 2020 Share Posted July 31, 2020 Dads $30k is gonna spend just nicely. Quote Link to comment Share on other sites More sharing options...
jtssrx Posted July 31, 2020 Share Posted July 31, 2020 1 hour ago, Mainecat said: Like I said in a previous post Kodak sucks donkey dicks. The Grifters, chapter 1 - Kodak https://www.epsilontheory.com/the-grifters-chapter-1-kodak/ On Tuesday afternoon (July 28, 2020), the White House announced that Kodak – a public company with less than $100 million in market cap, basically a pension fund with a famous brand name attached – would receive $765 million in “loans” from the US government to create a “pharmaceutical start-up” that over a period of 8 YEARS will start making pharmaceutical “supplies”. Whatever the hell that means. This $765 million in non-recourse, non-secured loans for pharmaceutical supply production, given to this micro-cap company with zero experience or expertise in pharmaceutical supply production, comes from the International Development Finance Corporation (DFC), a $60 billion piggy bank established by the Trump administration in 2019 to replace the Overseas Private Investment Corporation (OPIC). Yes, “international development” and “overseas investment”. On the corporate-grift side, it’s Kodak Chairman and CEO Jim Continenza (SEC CIK 0001197594), who picked up about 3 million shares and cheap options over the past year. It’s Kodak board member George Karfunkel (SEC CIK 0001085765), of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz (SEC CIK 0001579836), who owns about 4.3 million shares through at least five shell companies. Oh, wait, you thought Jim had a background in manufacturing or pharmaceuticals? Hahahahahahaha. Hooo, boy, that’s rich. No, no … Jim is a marketing guy. Shocking, I know. Based on yesterday’s closing price of $33.20 for the stock, I figure Jim and George and Philippe have made about $400 million over the past 48 hours. The numbers looked even better when Kodak hit $53 earlier earlier in the day, but easy come, easy go. On the government-grift side, it’s Donald Trump, who gets a press conference and a talking point. It’s Commerce Secretary Wilbur Ross and Secretary of State Mike Pompeo, who sit on the DFC board of directors and approved this deal, each pocketing a favor. It’s Larry Kudlow, University of Rochester alum and friend of Kodak, who pockets a BIG favor. It’s Adam Boehler, 41 year-old CEO of the DFC, who cements a lucrative career once his government “service” is complete. Crony capitalism. In its purest form. It seems very wrong to me Quote Link to comment Share on other sites More sharing options...
Mainecat Posted July 31, 2020 Author Share Posted July 31, 2020 17 minutes ago, Snake said: Dads $30k is gonna spend just nicely. The long time employees who lost their retirement will be pleased. Quote Link to comment Share on other sites More sharing options...
Snake Posted July 31, 2020 Share Posted July 31, 2020 41 minutes ago, Mainecat said: The long time employees who lost their retirement will be pleased. Happens all day every day. Quote Link to comment Share on other sites More sharing options...
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