Washington — President Barack Obama announced the formation today of a Photo Task Force to bail out Kodak and save it from Chapter 11 bankruptcy.
Like the Detroit auto industry, the president said Kodak is a victim of “cutthroat competition from Japanese firms and a seismic shift to the digital technology it pioneered but couldn’t capitalize on.” He criticized Mitt Romney for his New York Times op-ed titled, “Let Kodak Go Bankrupt.” Obama says bailing out the 132-year old America business icon is crucial to American manufacturing and saving jobs. He said in return for federal assistance Kodak has agreed to invest in new green print and ink technologies.
Just kidding.
Obama is letting Kodak go bankrupt. The company’s workers aren’t represented by the UAW.
Lab experiment proposal: Have Keystone contract with UAW and reapply. Abstract: The Keystone pipeline makes no significant difference to the enviornment, but originally lacked a sufficient political advantage for the American President to permit free enterprise.
Reply to this commentLinkReport AbuseDon't forget: It was Bush who started the bailout of GM. I'm pretty sure that Obama still would have bailed out GM, but Bush stills shares the blame for initiating it.
Reply to this commentLinkReport AbuseBush's last several months in office, when his attentions were focused on the initial economic tumbling, were confusing, disappointing, counterproductive, and unfortunate.
Bailouts are stupid. Every iteration of TARP was stupid. HARP was epic in its failure. Brand-new 'Gotta Punish Them Now' regulations were idiotic. Bush had a hand in getting the ball rolling, sadly, but if Obama had had a single innovative and original idea in his head, he could've quickly stopped those balls before they caused more damage.
Reply to this commentLinkReport AbuseHas anyone asked former Rep. Weiner his thoughts?
Reply to this commentLinkReport Abuse20 years ago, I knew quite a few employees of Eastman Chemical, then an Eastman Kodak business unit and now an independent company. Back then they were eager for Kodak to spin Eastman off. Their complaint: Kodak's stock performance was killing the value of their 401(k)s. A little while later, Eastman Chemical was spun off and the folks complaining then, and now-retired, did okay. They knew or at least had an inkling even then that EK was doomed.
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