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Thursday, January 19, 2012

Eastman Kodak Company and Its U.S. Subsidiaries Commence Voluntary Chapter 11 Business Reorganization

Flow of Goods and Services to Customers to Continue Globally in Ordinary Course; Non-U.S. Subsidiaries Are Not Included in U.S. Filing and Are Not Subject to Court Supervision; Company Secures $950 million in Debtor-in-Possession Financing in U.S.; Kodak’s Reorganization to Facilitate Emergence as Profitable and Sustainable Enterprise

ROCHESTER, N.Y., January 19 -- Eastman Kodak Company (“Kodak” or the “Company”) announced today that it and its U.S. subsidiaries filed voluntary petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York.

The business reorganization is intended to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines. The Company has made pioneering investments in digital and materials deposition technologies in recent years, generating approximately 75% of its revenue from digital businesses in 2011.

Kodak has obtained a fully-committed, $950 million debtor-in-possession credit facility with an 18-month maturity from Citigroup to enhance liquidity and working capital. The credit facility is subject to Court approval and other conditions precedent. The Company believes that it has sufficient liquidity to operate its business during chapter 11, and to continue the flow of goods and services to its customers in the ordinary course.

Video Review of new Canon EOS C300 Digital Cinema Camera

Canon EOS C300 Digital Cinema Camera from B&H Photo Video on Vimeo.

B&H did a great job at looking into this new camera for capturing motion pictures. With the Canon name, and great specs this promises to be a great seller and promises to be a great producer of high quality video. Check it out! 
I got a chance to check it out at CES and WOW, it is nice. I cant give you a great personal in-depth review as I am not a big pro video shooter, but with the ability to use your existing canon lenses or the pro cine lenses you can save on glass. The price is a little high, but for the features it seams to be a great deal for mid-range (price) film makers.

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