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Eastman Kodak To Raise Capital Through Senior Secured Notes

Fri, 18 Sep 2009 19:09:25 +0000

Eastman Kodak Co. (best known for its imaging and photographic materials and equipment) announced yesterday that it intends to raise up to US$700M through the sale of senior secured notes due in 2017. Private equity fund KKR & Co. has already committed to purchase US$400M of the debt offering.

However, Eastman Kodak’s stock price plummeted 11.23% to US$5.93 at the close of trade yesterday. Before KKR & Co.’s offer, investors were concerned about Eastman Kodak’s ability to fund the buyback without depleting cash revenues, however concerns now focus on the dilution of shareholder’s equity.

Canon Hosting Workshops In National Parks

Wed, 24 Jun 2009 04:21:04 +0000

Loving the outdoor photo shoot? Canon has teamed up with all four U.S. national parks and conservationists for “Canon Photography in the Parks”. It’s a program that combines a competition with a series of free photography workshops at four national parks.

There are twice daily outdoor sessions hosted by professional photographers. These sessions give participants the opportunity to try a variety of Canon cameras and lenses. There are also indoor evening workshops that focus mainly on the technical aspects of photography equipment.

Sessions are currently being run at Yosemite (for all of June), then it’s on to the Grand Canyon in July and Yellowstone and Acadia in August. The workshops are designed to be useful both to amateurs and more advanced photographers, with the main idea being that those participating in the sessions will submit their photographs to the competition.

If you happen to be in the area of any of the national parks during these sessions, be sure to pop in.

Nikon Announces Cuts

Fri, 29 May 2009 10:49:33 +0000

After recently reporting a profit of JPY 28.1B for the year ended March 31, 2009, Nikon Corp does not expect to be as fortunate the next time around. In addition to its forecast of a JPY 17B net loss for fiscal 2010, the camera maker announced that it will trim 1000 jobs from its global workforce of 4600, and put plans for future growth on hold. Nikon will also merge four of its Japanese manufacturing subsidiaries into two units in an effort to save a total of JPY 8B in fixed costs over the next three years.