Wed. night Kodak announced publicly an agreement with a retirees group. Of course the former iconic company did it at night through the media, not personally by communication to retirees. Another nice touch and sign of respect to hard workers who dedicated their lives to the company. Kodak will end retiree benefits by the end of the year, including medical, dental and life insurance payments. The company will pay a lump sum of $7.5 million to the retirees group with a possible additional payment of of over $200 million IF the company survives. What are the odds that money will ever be seen? I'm not great at math but $7.5 million divided by 56,000 retirees doesn't seem to be a huge thank you for years of serving George Eastman's once legendary company. I have many friends who once worked at Kodak and were proud to be part of the giant American institution. I'm sure they will love the quote from CEO Antonio Perez regarding the decision to end retiree benefits: "Today's agreement is a decisive accomplishment toward one of our fundamental objectives in our restructuring". "Accomplishment"? That's a great word when describing how dedicated employees have been screwed again. And if the "fundamental objective" is to ruin a once iconic company, congratulations Mr. Perez....you've done it again! Again I ask, how does Antonio Perez STILL have a job on State St.??????????







