Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegations

[Yo_Mama_Been_Loggin]

Source: Reuters

(Reuters) - Eastman Kodak Co's $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to "recent allegations of wrongdoing," the U.S. International Development Finance Corp (DFC) said.

Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan.

"Recent allegations of wrongdoing raise serious concerns," DFC said late on Friday in a tweet.

"We will not proceed any further unless these allegations are cleared," the DFC said. It was referring to a letter of interest it signed on July 28 with Kodak.



Read more: https://www.msn.com/en-us/news/politics/eastman-kodaks-dollar765-million-us-loan-agreement-on-hold-after-recent-allegations/ar-BB17JPV3?li=BBnb7Kz

[magicarpet]

1. Jared quick,... you, your family, and your crony friends better dump that Kodak stock,...

... your latest get rich quick con is no longer a secret.

[TexasBushwhacker]

2. The stock went from $2 to $30 overnight

Every executive that exercised their stock options should go to prison.

[iluvtennis]

7. Wow...but because of white collar privilege, they'll just get a slap on the hand and a minor

fine.

Lock their asses up like you did Martha Stewart which was only for couple hundred thousand.

[TreasonousBastard]

3. Insider trading is a crime-- but who's going to move on it?

[Leghorn21]

4. Tsk tsk, muthafuckahs

We see u

[Hoyt]

5. Heck, if Kodak still gets the contract, they can sell some stock rather than take loan.

[BadGimp]

6. wtf is the "U.S. International Development Finance Corp

U.S. International Development Finance Corp

https://www.dfc.gov/

Scan the ABOUT etc and you learn this is a brand new Gov thing and Trump placed the top people.

I checked the stats on the web site and it is a very new property.
https://www.alexa.com/siteinfo/dfc.gov#trafficstats

My Spidey Sense is tingling.

[JohnnyRingo]

8. Kodak should be a picture perfect example of a company

...that suffered greatly from the digital renaissance. Even after diverting resources to digital cameras, those too have fallen from favor.

It appears the company has moved from darkrooms to medicine cabinets, probably a more lucrative endeavor. Still, I can see how Kodak may be in need of assistance.

[Bengus81]

9. LOL...wonder what time limit or if there is a time limit on exercising the CEO's stock option?

Hope the hell so and the price is below the option pps that he got.

Kodak is so fucking smart they tried to have Paul Simon's Kodachrome song stopped back in 73/74 when it came out. Guess they weren't smart enough to realize all the FREE advertising they were getting Nation wide a hundreds if not thousands of times per day. Gawd...no wonder those clowns are about BK.

[TheFarseer]

10. Wish I had shorted this in the $20s or 30s

When I saw that spike. I just didn’t have the stones unfortunately. Now it’s at $11 something and likely going lower.