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  • After working at Kodak for 40 years, in great times and bad, I still bleed yellow. Hope this works out for them.
  • edited July 28
    Life After Death?

    Check out this info on Kodak from the Wall Street Journal, in another MFO thread.

  • edited July 28
    LLSCX closed up 10.18% (or $1.85) tonight at $20.03 according to Schwab.
  • Short the s*** out of it.
  • edited July 30
    LLSCX up $9.36 (or 48.73%) tonight according to Schwab primarily because of the surge in KODK.

    "Even a blind squirrel finds a nut" to quote a friend.

    Mutual fund investors with largest positions in Kodak:
    https://money.cnn.com/quote/shareholders/shareholders.html?symb=KODK&subView=institutional

  • Day before the announcement on Kodak, trading went up to about 15X normal.

    Great to see insider trading made great again. Crony capitalism at its best.
  • edited July 30
    Trump and Navarro probably held large interest in KODK prior to the announcement. I didn't even read the link prior to drawing that hypothesis. Questionable fast money and the sleaziness of the executive branch of government are tied at the hip.

    Take a look who is on the board of the U.S. International Development Finance Corporation:

    https://www.dfc.gov/who-we-are/board-directors
  • The Swamp
  • TheShadow said:

    Trump and Navarro probably held large interest in KODK prior to the announcement. I didn't even read the link prior to drawing that hypothesis. Questionable fast money and the sleaziness of the executive branch of government are tied at the hip.

    Take a look who is on the board of the U.S. International Development Finance Corporation:

    https://www.dfc.gov/who-we-are/board-directors

    That's an absurd accusation.
  • Not even close to absurd. Pompeo & Ross, give us a break.
  • Pelosi more likely.
  • You nailed it, @JoJo26. Trump and his team are notoriously close to Pelosi, so of course they slipped her the word, and not to any of the finance types who donate heavily to his campaign. It's only logical.
  • edited July 30
    Trump probably has hand in it as he has hand out to get something as he never has enough. Trump wanted to give more money to FBI in the proposed stimulus plan for their existing building to modernize it so they will not move. If they move, a possible hotel/motel could move across the street and take business away from Trump industries.

    Here is an article concerning Ross and a possible conflict of interest:

    https://www.axios.com/wilbur-ross-growing-conflict-of-interest-problem-7c69357b-ca4d-42a2-a745-af8c495022aa.html

    How about Trump wanting to delay the election? Problem is Congress has the ability to make that decision; not Trump.

    You must be drinking the Rev. Jim Jones' or the POTUS' kool-aid?
  • Regarding that "insider trading" -
    While I can no longer find the reference, evidently Kodak released a statement to the local (Rochester, NY) media on Monday to the effect they were expecting notification of a loan from the government. While supposedly meant to be communicated as background information, the message did not include that limitation. You can imagine.

    You want honest-to-goodness pharmaceutical insider trading? Remember when Martha Stewart was packed off to jail? Now that was a real story. Sam Waksal was later named by Time Magazine to a list of Top Ten Crooked CEOs.
  • According to the Time Magazine article (link, please), Martha "unloaded all 3,928 of her company shares just days before the FDA's decision had been announced to avoid losing an estimated $45,673."

    She was not jailed for insider trading. Her conviction was "for obstruction of justice, making false statements and conspiracy for lying to investigators." These days, the Justice Department works hard at letting those things slide.
    https://money.cnn.com/2018/05/31/news/companies/trump-martha-stewart-pardon/index.html

    Fox News reports that the day Martha was dumping her shares, Waksal's friends and family combined dumped shares with a total value (not loss) of $3M.
    "https://www.foxnews.com/story/the-rise-and-fall-of-imclone-systems

    Let's put that in perspective. On July 27, right before the news hit Kodak granted options with an average exercise price of $4.67 (most with a $3 exercise price) to company insiders amounting to about:
    1.75M to James V. Continenza, Chairman and CEO
    45K to each of David E. Bullwinkle CFO, Roger W. Byrd VP, and Randy Vandagriff, VP
    https://www.secform4.com/insider-trading/31235.htm

    Conservatively figuring a gain of $15/share (with a $22.72 share price this morning), that's a profit of $26M for the CEO and $675K for each of the VPs. That makes Martha look like a piker, and Waksal's whole entourage seem penny ante compared to Continenza. A difference is that here the option grants were done by the board, so the timing is suspicious but potentially "legal".
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