Remember that story I told you about Kodak? There's a sequel.
The money is now being held up due to "recent allegations of wrongdoing.” The U.S. government just said “We will not proceed any further unless these allegations are cleared.” (News report here.)
Turns out that while Kodak was secretly negotiating with the Trump administration, Kodak executives were privately buying up company stock. They anticipated, correctly, a huge increase in its value and then sold at a massive profit. The SEC and other government agencies are investigating.
As Captain Renault said in "Casabalanca" while being handed a wad of money as he announced a raid: "I'm shocked! Shocked to find that gambling is going on in here."
I missed your earlier post but Im caught up now. Why is a camera company making drugs. As much as I would love to have all the medication I take come from the US, I have a feeling the already overwhelming prices would quadruple.
ReplyDeleteI am shocked as well, I had no idea! Hi my dear friend, I finally got to sit and post a comment to your lovely blog. I hope everything is ok! Also hope this Covid emergency ends soon, I suppose just like everyone does. Many kisses from Italy
ReplyDeleteLove, Vale
Fashion and Cookies
A generation or so ago Rochester was booming, Kodak, Xerox, Bausch & Lomb and many others. Kodak alone had dozens of buildings and facilities for its high quality manufacturing. Since they fell to the wayside by missing the digital photography turnaround these facilities have gone fallow. The facilities are still in tack and much of the engineering talent remains.
ReplyDeleteWe can walk and chew gum at the same time. Let the project proceed so we can make our meds in America but at the same time let the SEC nail anyone who violated the laws on insider trading. If Martha Stewart can go to jail so can those who traded on insider information.