Eastman Kodak Co CEO Jim Continenza added $79 million to his net worth on Wednesday when his options in the imaging company turned from worthless to lucrative thanks to a U.S. government loan for a pharmaceutical ingredients supply deal that super-charged the value of his shares.
A worker cleans a Kodak booth at the Las Vegas Convention Center in preparation for 2019 CES in Las Vegas, Nevada, U.S. January 6, 2019. REUTERS/Steve Marcus/Files
Kodak’s stock increased 1,167% in value in two days, after the administration of President Donald Trump agreed to provide a $765 million loan for the company to produce pharmaceutical ingredients to help fight the coronavirus pandemic. Trump announced the deal at a news conference on Tuesday evening.
While Kodak’s rally enriched all its shareholders, more than half the company is owned by a few key insiders, including board directors Philippe Katz and George Karfunkel. They booked the majority of the gains in the company’s rise in market value.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Stocks making the biggest moves midday: 3M, McDonald's, Tesla, Eastman Kodak and moreThese are the stocks posting the largest moves in midday trading.
Weiterlesen »
WSJ News Exclusive | Kodak Lands $765 Million U.S. Loan in Start of Medical Supply Chain FixEastman Kodak has won a government loan under the Defense Production Act to help expedite domestic production of drugs that can treat a variety of medical conditions and loosen the U.S. reliance on foreign sources.
Weiterlesen »
Trump says Kodak will make pharmaceuticals with help of $765 million loanPresident Trump returned to the briefing room Tuesday as talks over the latest coronavirus economic rescue package continue on Capitol Hill.
Weiterlesen »
Trump Gives Medical Stockpile A 'Kodak Moment' With New Loan To Make DrugsThe Trump administration is giving a $765 million loan to Eastman Kodak — which has struggled in the age of digital photography — so the company can manufacture ingredients used in pharmaceuticals.
Weiterlesen »
WSJ News Exclusive | Kodak Shifts Into Drug Production With Help of a $765 Million U.S. LoanThe photography pioneer won a government loan under the Defense Production Act to help expedite domestic production of drugs and loosen the U.S.’s reliance on foreign sources.
Weiterlesen »
Kodak aims to be one of 'greatest second acts' in American industry, adds 300-plus jobsKodak plans to produce generic drug ingredients. The loan will allow Kodak to create 300 jobs in Rochester.\nKodak gets $765M US loan to make generic drug ingredients
Weiterlesen »