Us government relies on credit for kodak to criticism

US government relies on credit for Kodak to criticism

A planned $ 765 million heavy credit for kodak, which fails up the stock of the photo pioneer for a short time, has been laid by the us government on ice. The investment agency dfc shared on the weekend that all the premieges of misconduct around the deal had to be cleared out.

The kodak share cost only a few dollars for years – but after the qualification at the end of july that the company should get the money to produce drug components, the course rose steeply to the trademark of 60 dollars. When a few days after signing the absorptual clarification, how many conditions kodak has to fulfill for the loan, the stock went to rapid descent and recently noted at 15 dollars.

To spring?

Attention also caused events before the announcement of the credit tarpaulin. So there was already a day before a significantly more rising trade in kodak shares than usual – and the course rose strongly. Some local media had been informed in advance by kodak and published after confusion about blocking periods to early tweets and articles that were quickly becoming deleted.

Us senator elizabeth warren demanded an investigation of the business before notification of the credit plan by the borsenaufsicht sec. After informing the "wall street journal" if the authority looks at the facts. Kodak ordered his own investigation of the drain on friday.

"Breakthrough" for pharmaceutical production in the usa?

Us prassident donald trump presented the loan for kodak at a press conference as one "breakthrough in the efforts to bring back pharmaceutical production to the united states". Trump reached for the loan on the defense production act from the 50s, which gives the president powers to organize the production of more important good.

The controversy for kodak thus also has a political component: warren belonging to the democratic party and was also an angerter on the prasidency candidacy of the party in the elections in november. During initially the impression arose that the deal is standing out, among other things, the declaration of intelligence emerged that kodak had to protect the money with his values and the test procedure for lending still runs. The dfc (international development finance corporation) initially made no information that preceded exactly their decision.

Bankruptcy and kodakcoin

The company had been founded at the end of the 19. Century and had started selling simpler cameras for everyday use. Kodak had then dedicated to the production of the existing additional materials and accumulated chemical know-how. Over the decades, a giant of the industry had arisen, but despite a fresh entry into the business with digital photos was finally overrolled.

Kodak had expressed the classic photography crucial with his products, but did not realize with changing to digital images. After high losses, the fotoopionier 2012 slipped into the bankruptcy. In the course of the renovation, rough business areas have been stabbed. From the former core business photography did not remain much abundant; instead, the company continued on donations for business customers. In 2018, kodak has ever made a short-term price firework with the envision of developing its own crypto money combined with an image license administration on a blockchain base.

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