AllThingsD » Antonio Perez

The Times of Its Troubled Life: A 2007 Visit to Kodak (Video)

Kara Swisher — Thu, 19 Jan 2012 19:54:06 +0000

In 2007, after its CEO, Antonio Perez, appeared on stage at the fourth D: All Things Digital conference, I was invited to visit the HQ of Kodak in Rochester, N.Y., to see up close the transition to a digital imaging company he was attempting.

At the time, I wrote:

“That shift has obviously been painful, including huge cuts in its employee base, due to the sharp decline of its market might. Since 2004, Kodak has cut its employee head count from about 64,000 to 30,600 as it has undergone a massive restructuring.”

Yesterday, Kodak gave up that effort and filed for Chapter 11 reorganization. Where it will go from here is anybody’s guess.

While the iconic company has tried to leverage its patent portfolio, suing Apple, HTC and Samsung, it needs more than just that as it seeks to remake its ailing business.

Here are the two videos I did with its execs of the ideas back then that obviously did not work out, as well as one of the classic “The Times of Your Life” commercials (I dare you not to tear up watching it, a potent memory of the emotional power Kodak once had over consumers):

[ See post to watch video ]

Potential Buyers Sizing Up Kodak Patents

John Paczkowski — Wed, 31 Aug 2011 14:47:50 +0000

Are Kodak’s digital imaging patents truly worth more than the entirety of the company itself? We may soon find out.

Kodak CEO Antonio Perez says interest in that portion of its patent portfolio has been running high since the company began shopping it around earlier this summer, and already a number of potential buyers are evaluating it. Reportedly among them: Apple, Google, Samsung and Microsoft.

“At the moment we announced [the sale], the phone started to ring,” he told Bloomberg. “… This is the right time. The conversations are going. We are hoping quickly to get to a good conclusion.”

Right time, indeed. Given the current bull market for patents, the 1,100 or so Kodak is shopping around could fetch as much as $3 billion, according to IP investment bank MDB Capital Group. That’s more than five times the struggling company’s market capitalization. “There are some pretty crucial patents here, and there are a lot of people who should be very interested in buying these,” said MDB Capital CEO Chris Marlett. “The auction for the sale of these patents is going to underscore that there’s a big disconnect between the value of the IP and the value of the stock.”

Kara Visits Kodak, Part 1

Kara Swisher — Thu, 20 Dec 2007 10:12:11 +0000

So I took a trip up to Rochester, N.Y., over the summer to visit Kodak, the once powerful film giant, which has been struggling in recent years to make the difficult transition from film to digital.

I made a few videos there and then neglected to post them in the rush of other breaking news.

But this glimpse at the declining city Kodak once ruled, along with an interview with Philip Faraci, who was recently named President and COO for all of Eastman Kodak, is illuminating as the company tries to transform itself drastically. (In a side note, Faraci previously worked at Hewlett-Packard for a little more than two decades.)

Here is the first video with Faraci:

[ See post to watch video ]

That’s a lot harder when you are talking about a business with such a massive legacy as Kodak has carried, even though it was once considered to be the tech marvel of the day. That’s especially true when it is compared to its current competitors, the shape-shifting digital entrepreneurs of Silicon Valley.

Under current CEO Antonio Perez (also a former H-P exec), whom I interviewed at D4 in 2005, Kodak has been trying to dig itself out of a hole and into consistent profitability. (Full disclosure: Kodak has been a regular sponsor of the D: All Things Digital conference that I run with Walt Mossberg.)

That shift has obviously been painful, including huge cuts in its employee base, due to the sharp decline of its market might. Since 2004, Kodak has cut its employee head count from about 64,000 to 30,600 as it has undergone a massive restructuring.

Things are looking up, though. In its most recent quarter, reported in early November, Kodak had a profit on a small sales decline. Its digital sales, from products like inkjet printers and digital cameras, rose to $1.59 billion, up 12%, and represented 60% of revenue. Film-based revenue was down 16%, to $698 million.

Whatever happens, Kodak is an interesting tech turnaround to watch.

(Here is my second Kodak video.)