Why does CEO/Mgmt. get Large Bonus... and retirees pension are altered?

Posted in the Eastman Kodak Forum

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OS- Rochester NY

Batavia, NY

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#1
Sep 11, 2008
 
Does anyone besides myself think Kodak management may be thinking of raiding the pension benefit fund for personal gain instead of funding retirees like it was meant for. Billions of dollars makes it very enticing to stray off the path of righteousness.[/How can the poor honest man fight this? Is it Fair? You work for a Kodak for a good many years and are proud to say that you worked there. Where is the management of years ago that followed George Eastman's ideals .... making Kodak a family corporation that took care of it's people. We have management that says the only way Kodak is to exist (to save money) is to stop paying certain benefits to their retirees, yet now in the news today is Kodak CEO and Executives are getting each a Big Bonus more than expected this year). How crooked can you get ..... this should be investigated. I will join the Picket Line in October. George Eastman must be spinning in his grave.
George

Alpharetta, GA

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#2
Mar 24, 2011
 
Wow, how right you may be. With the Kodak pension underfunded by 2.66 Billion I wonder when the piper will get paid.

If you reak through the latest 10-K you'll see an entry saying that the fund is overfunded by approximately 50 million but keep reading and you'll find that Kodak owes 2.66 billion to the fund, the issue is that Kodak's value seems to be -1.108 billion so if you cancel the shares then you'd recover 800 million but you'd still be short and the pension fund states that the rate of return will be 8 3/4% but if Kodak folds then the pension won't get that good of a rate in the long term.

I'd have to say that Kodak's pension should at least be questioned as for all the retiree's that Kodak adds every year, I'd say the end may be near.

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