Kodak gets massive loan, turns into drug component maker

Started 6 months ago | Discussions thread
ken_in_nh Senior Member • Posts: 1,096
Re: Reuters: Kodak loan blocked
1

MHshooter wrote:

justmeMN wrote:

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

If this turns out to be some scumbag executive who lined his pockets after getting insider info on the deal, he should get 10 years for it. But likely won't.

I'm afraid it's all too normal in the arena of executive pay.  One reason we individuals can't do that well when we invest in individual stocks is that we're up against all sorts of insider activities that always beat us to the punch so to speak.  It's not just executives, either.  It's private equity too.  And SEC enforcement continues to weaken.

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