Latest news with #KodakInstamatic
USA Today
12-08-2025
- Business
- USA Today
Iconic US film company Kodak warns it may go out of business
The American company credited with revolutionizing amateur photography is warning it could go out of business after more than 130 years. The Rochester, New York-based Eastman Kodak Co. offered a bleak picture of its financials in earnings reports and filings, tracking a second quarter loss and sending shares tumbling in early trading Tuesday, Aug. 12. The iconic brand said in Monday, Aug. 11 government filings that there is "substantial doubt" about the company's ability to continue, as it faces more than $470 million in debt and slashes its pension plan in an attempt to remain afloat. "Kodak has debt coming due within twelve months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company said in its filings to the Securities and Exchange Commission. Kodak became one of the most iconic American companies in the late 19th century with the introducton of the Kodak #1 camera in 1888, credited with making photography accessible to the everyday person. Though it rose to prominence for its film photography products, it struggled to adapt to the changing industry as digital imaging took over, with the company filing for bankruptcy in 2012. In recent years, it has pursued specialty chemicals and pharmaceuticals. This camera revolutionized photography: Whatever happened to the Kodak Instamatic? Tariffs had no 'material impact' In its most recent earnings report, Kodak said its consolidated revenues were $263 million at the end of the quarter on June 30, a decrease of $4 million since the same period last year. Gross profit decreased 12% compared to last year's second quarter end, Kodak disclosed, and its cash balance sits at $155 million, marking a loss of just under 23% since the end of December. Jim Continenza, Kodak's Executive Chairman and CEO, said tariffs have not had a "material impact" on its businesses, noting the domestic production of many of its products such as printing plates, film, inkjet presses and inks and pharmaceutical ingredients. What's next for Kodak? Kodak's chief financial officer David Bullwinkle said in the company's Aug. 11 statement it plans to focus on its advanced chemicals and materials sector moving forward, and said the cut to its retirement program is going toward paying down its debt. He said the company expects to "have a clear understanding" by Friday, Aug. 15 of how it will meet its debt obligations. "For the second half of the year, we will continue to focus on reducing costs today and converting our investments into long-term growth," Bullwinkle said. The company was founded by George Eastman in 1889 and renamed a few years later to the Eastman Kodak Company. Eastman's Kodak Brownie camera introduced in 1900 made photography accessible to everyday Americans, later introducing color versions in the 1920s and 1930s, and offering the world's first digital camera in 1975. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr.
Toronto Sun
07-06-2025
- Science
- Toronto Sun
KINSELLA: World rivetted by Trump-Musk bromance implosion
Donald and Elon are going to keep being negative online and the rest of us are going to keep eating it up Elon Musk and Donald Trump watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024. Photo by Brandon Bell / Photographer: Brandon Bell/Getty Long, long ago, in the prehistoric times before the internet, I was a reporter at a fine Postmedia paper – the Calgary Herald . This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account I'd work there on weekends during law school, to keep myself in Kraft Dinner. One of my jobs was listening to the police scanner. Whenever there was a big car crash on some local roadway, I'd head out, occasionally with a photographer in tow. When merited, I'd write a few paragraphs about the crash, and the photographer would take some pictures. Later on, people would inevitably call in to say we were ghouls and grave robbers and that they were sick of our negativity. They'd say they were cancelling their subscription (we checked, they never did). But here's the thing I'd observe when out at the scene of every car crash: everyone – and I mean everyone – would slow down to take a look. Sometimes, Grandma would even totter out of her car to snap a photo on her Kodak Instamatic. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. That's the thing about negative stuff – people say they don't like it, but they're fibbing. They pay attention to it, they remember it, they are motivated by it. Negative stuff sells. Every politico and reporter knows that. If it bleeds, it leads, etc. Watching the bromance of Donald Trump and Elon Musk implode on social media this week, I was reminded of this collective fondness for nastiness. The entire world, pretty much, was glued to their devices, watching for the next instalment in the Donald and Elon Show. For many of us, it was better than the playoffs (go Oilers). Trump threatened to cancel Musk's government contracts. Musk agreed that Trump should be impeached. Trump suggested Musk was mentally ill. Musk said Trump was in the Epstein file. And so on and so on. This advertisement has not loaded yet, but your article continues below. Trump's White House staffers frantically convened meetings to figure out ways to get the boys to step away from the downward cycle of mutually-assured social media destruction. They knew that billions of people – leaders of nations included – were observing the spectacle. It was bad for business, they told media, anonymously. It needed to stop. Read More Predictably, Republican politicians became highly adverse to microphones pointed their way. My favourite riposte came from Senator John Kennedy (definitely no relation): 'I have a rule, I never get between a dog and a fire hydrant.' (It is unknown if any reporters asked who was the dog and who was the fire hydrant in Kennedy's top-rung use of metaphor.) This advertisement has not loaded yet, but your article continues below. The commentariat was tut-tutting about it all, however. 'Pathetic,' said the Guardian . 'A broligarchy blowup of the highest order,' said the New York Times . 'Broooos please noooooo. We love you both so much,' said Kanye West, a Hitler fan and former celebrity. Personally, I don't think it hurts either guy, at all. Why? Because it's on-brand for both. As someone who has campaigned (full disclosure) against Donald Trump three times, I will acknowledge he has one skill about which he is without equal: he is a social media genius. There is nobody in politics better at getting attention online than him. He does that by being negative. Elon Musk, meanwhile, has the same genetic structure: he is really, really good at being mean. In fact, I think that's the main reason he bought Twitter, now christened X: it gave him a personal platform to be negative, 24/7. This advertisement has not loaded yet, but your article continues below. On X, Musk has 221 million followers; Trump, 106 million. On his own platform, 'Truth Social' – which is neither truth, nor social – Trump has 10 million followers. What does that tell you? It tells you that being negative sells. Being nasty works. The experts call this 'online disinhibition,' which is defined as saying things online that you never would in real life. More social media use leads to more negativity, and more negativity results in more social media use. It's a circular addiction, sayeth the experts, and it's not good for people or the world. Donald and Elon don't care. They're going to keep being negative online, guaranteed, and the rest of us are going to keep eating it up. Guaranteed. And if, say, you disagree with all that, here's a suggestion: report back to the rest of us the next time you spot a car crash on the highway, okay? And let us know if you slow down to take a look. 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