Kodak CEO's fortune swells $79 million as stocks rally on U.S. government loan

A worker cleans a Kodak booth at the Las Vegas Convention Center in preparation for 2019 CES in Las Vegas, Nevada, U.S. January 6, 2019. REUTERS/Steve Marcus/Files

Kodak’s stock increased 1,167% in value in two days, after the administration of President Donald Trump agreed to provide a $765 million loan for the company to produce pharmaceutical ingredients to help fight the coronavirus pandemic. Trump announced the deal at a news conference on Tuesday evening.

While Kodak’s rally enriched all its shareholders, more than half the company is owned by a few key insiders, including board directors Philippe Katz and George Karfunkel. They booked the majority of the gains in the company’s rise in market value.

Yes. On paper....

Who are the biggest stockholders who are benefiting from Trump promoting this?

You can bet the Trumps own stock in Kodak that they will quickly flip.

How many days before it was public?

So Trump just hands 750 million to a failed company to make a different product they are not known for making and a bunch of people make a killing on the stock. Do American taxpayers get a cut of the profit?

It should be illegal to announce deals like that by officials ...

Need to investigate and see who invested in the stock right before the loan.

My guess.. there will be a full investigation sometime later about the sudden purchase of stocks the day before the announcement.

JuddLegum

This is the America on Republicans!

Let's see how much he'll donate towards the Trump campaign or pro-Trump super-pac. Follow the money.

Glad I still kept my Kodak films.

It's trickle down for every extra billlion in their pocket a couple jobs are created.

At the same time 150,000 Americans are dead and millions of people are out of work, losing their homes. Great American story.

Stock up on film!

Trump manipulated the stock yesterday as he mentioned Kodak at least a dozen times in his bs Coronavirus briefing

$79 million? That’s chump change. Director and Republican donor George Karfunkel bought 4.4 million shares at $2.50 per share. 2,222% in 2 days. bootstraps hardwork and all that. Thieves.

Who else, w/advanced heads up, made millions too....Trump's friends, family, donors.....

Something real fishy about this whole affair. WTF

nmpol socialism?

Great news for a company with 'checks notes' absolutely no business model, products, or manufacturing capability

'Rochester, New York-based Kodak, founded in 1888, is best known for its cameras, which went out of favor with consumers as they turned to smart phones to take pictures' Well, I thought that digital cameras were a thing before smartphones...

Coincidentally he purchased $600k of stock a few weeks ago

Kodak stock spiked 222% hours before the deal was announced. Insider trading much? 😂

This is something that I agree with the President on. I just wish he would stop acting like such a jerk.

Sounds light

no idea why we're trusting a company that failed to adapt to the digital age...what makes the government confident that they can do anything?

'Picture' perfect

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WSJ News Exclusive | Kodak Lands $765 Million U.S. Loan in Start of Medical Supply Chain FixEastman Kodak has won a government loan under the Defense Production Act to help expedite domestic production of drugs that can treat a variety of medical conditions and loosen the U.S. reliance on foreign sources. So they are 'developing' a vaccine? 😉 Yet, Congress is fighting about giving Americans $200 more per month to help with their utilities. It is the similarly case of Fuji film in Japan. Good luck!
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Trump says Kodak will make pharmaceuticals with help of $765 million loanPresident Trump returned to the briefing room Tuesday as talks over the latest coronavirus economic rescue package continue on Capitol Hill. Effing broken record Bindens going to rebuild the middle class.........? what does that mean To fund a new FBI building by one of trump towers & for fighter jets. Those both really help fight COVID19. TrumpVirus
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Trump Gives Medical Stockpile A 'Kodak Moment' With New Loan To Make DrugsThe Trump administration is giving a $765 million loan to Eastman Kodak — which has struggled in the age of digital photography — so the company can manufacture ingredients used in pharmaceuticals. '...for which we currently depend on China.' There, I fixed it for you. Kodak doesn’t have Kodak money for this shit ?
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WSJ News Exclusive | Kodak Shifts Into Drug Production With Help of a $765 Million U.S. LoanThe photography pioneer won a government loan under the Defense Production Act to help expedite domestic production of drugs and loosen the U.S.’s reliance on foreign sources. its a loan not a gift, the loan must be paid back with interest. KODAK should of raised capital thru a spac instead This is the America that I know and will support if elected to represent FL's 6th congressional district... qualified no party affiliation write-in candidate... for the people... fl6th gerryforcongress nolanforcongress Thanks for sharing.
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Kodak aims to be one of 'greatest second acts' in American industry, adds 300-plus jobsKodak plans to produce generic drug ingredients. The loan will allow Kodak to create 300 jobs in Rochester.\nKodak gets $765M US loan to make generic drug ingredients Why? It’s proven ineffective, no? 'Greatest fraud on the taxpayers' Is trump paying out of pocket for that one, or charging the taxpayers?
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