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Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared

Rexedgar

Rexedgar

Yo-Semite!
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The Eastman Kodak Company gave its CEO 1.75 million stock options just one day before the company’s stock soared amid news that it would receive a $765 million federal loan to manufacture critical drug components, the New York Times reported Friday.

When news of the White House deal went live earlier this week, Kodak’s shares ballooned by more than 1,000%, topping out at around $60 (they’ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.


One of the drugs Kodak will be looking into?�


Hydroxychloroqine

Bloomberg - Are you a robot?



Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared
 
I'm sure that raised a few eyebrows...including mine.

There's so much corruption going on in this administration, it's overwhelming and exhausting.

Mr. Law and Order <cough, cough> is at the root of most of the corruption...so until he's gone I don't see much getting done about it. He's our Nero. While America burns...he's busy golfing, saving confederate statues, killing hundred thousands of Americans and plotting how to overthrow the election to be bothered with his friends and associates blatant corruption.

Say, instead of delaying the election...how about we move it up to next week, instead?
 
Rexedgar said:
The Eastman Kodak Company gave its CEO 1.75 million stock options just one day before the companyâ€[emoji769]s stock soared amid news that it would receive a $765 million federal loan to manufacture critical drug components, the New York Times reported Friday.

When news of the White House deal went live earlier this week, Kodakâ€[emoji769]s shares ballooned by more than 1,000%, topping out at around $60 (theyâ€[emoji769]ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.


One of the drugs Kodak will be looking into?�


Hydroxychloroqine

Bloomberg - Are you a robot?



Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared
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provided there isnt any manipulations taking place to give stocks an artifical value before they sell them off, I think its a good incentive for employees to own stock in their company.

Sent from my SM-G965U using Tapatalk
 
Even assuming that this entire stock option grant was tied to the loan deal, what exactly is the problem with paying an executive chairman about $25M well for leading the company to secure nearly a billion dollars in funding, resulting in the market value of the company increasing by more than $800M?

Is that fundamentally worse than, say, paying George Clooney $20M for acting in one movie?
 
Tlrmln said:
Even assuming that this entire stock option grant was tied to the loan deal, what exactly is the problem with paying an executive chairman about $25M well for leading the company to secure nearly a billion dollars in funding, resulting in the market value of the company increasing by more than $800M?

Is that fundamentally worse than, say, paying George Clooney $20M for acting in one movie?
Click to expand...


Yeah, nothing to see here; just like a Clooney movie.........:screwy
 
Rexedgar said:
Yeah, nothing to see here; just like a Clooney movie.........:screwy
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What am I missing, other than you're jealous that some people make lots of money for being in the right place at the right time, but you look the way when it happens for others?
 
trouble13 said:
provided there isnt any manipulations taking place to give stocks an artifical value before they sell them off, I think its a good incentive for employees to own stock in their company.

Sent from my SM-G965U using Tapatalk
Click to expand...

I'd agree with you if Kodak had shared the offer between all its employees but this was just for the CEO.
This is the apex of the 1% of the 1% being given super special treatment and screw everyone else.

This needs to be investigated as at the moment it looks and smells like pure corruption.
 
I guess Kodak totally supports and is grateful for the CARES Act, the gift that keeps on giving.
 
prometeus said:
Basic reasoning skills and integrity.
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That comment might bite if you had bothered to demonstrate any of your own. Unfortunately for you, a snide comment and an emoji aren't enough to override your cognitive dissonance.
 
Tlrmln said:
That comment might bite
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Might? It was you who clearly stated that you were missing something. It also became clear that you lacked what it takes to even recognize what you were missing.

if you had bothered to demonstrate any of your own.
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Why would I waste the effort, when clearly you would miss that also.

Unfortunately for you, a snide comment and an emoji aren't enough to override your cognitive dissonance.
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It was not a snide comment, but fact and no I did not use an emoji.
 
prometeus said:
Might? It was you who clearly stated that you were missing something. It also became clear that you lacked what it takes to even recognize what you were missing.
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I was referring to whether I was missing any substance in your argument, which was nonexistent in the first place. But you knew that and chose the childish route instead.

It was not a snide comment, but fact and no I did not use an emoji.
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I didn't say that YOU used an emoji. If you want to jump into the middle of a dialog uninvited, you get to own it all. And yes, yours was also a snide comment.
 
Tlrmln said:
I was referring to whether I was missing any substance in your argument
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Not in the post to which I responded. You either are missing what it takes to grast even the simplest of facts or the integrity to recognize those facts. Perhaps both.
 
prometeus said:
Not in the post to which I responded. You either are missing what it takes to grast even the simplest of facts or the integrity to recognize those facts. Perhaps both.
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Yes, you're right. I mixed you up with the person to whom I initially responded. Your comment was so similarly devoid of substance that you'll have to forgive me for the confusion and not going back and comparing your name with the the first guy's name. Congratulations for the "gotcha."
 
Rexedgar said:
The Eastman Kodak Company gave its CEO 1.75 million stock options just one day before the company’s stock soared amid news that it would receive a $765 million federal loan to manufacture critical drug components, the New York Times reported Friday.

When news of the White House deal went live earlier this week, Kodak’s shares ballooned by more than 1,000%, topping out at around $60 (they’ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.


One of the drugs Kodak will be looking into?�


Hydroxychloroqine

Bloomberg - Are you a robot?



Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared
Click to expand...

That's how it works. Close the deal get the options. don't close the deal, plod on. Nothing nefarious about it, in fact its a widely used executive incentivized compensation clause in their employment packages.
 
trouble13 said:
provided there isnt any manipulations taking place to give stocks an artifical value before they sell them off, I think its a good incentive for employees to own stock in their company.

Sent from my SM-G965U using Tapatalk
Click to expand...

Being granted stock options the day before a major announcement is manipulation, and harms existing shareholders


Normally there is a freeze on internal share purchases before major announcements
 
Lord Tammerlain said:
Being granted stock options the day before a major announcement is manipulation, and harms existing shareholders


Normally there is a freeze on internal share purchases before major announcements
Click to expand...

Reminds me of ENRON. The company halted employees stock sales while they pillaged the treasury.

Hooray for me, **** you!
 
Lord Tammerlain said:
Being granted stock options the day before a major announcement is manipulation, and harms existing shareholders


Normally there is a freeze on internal share purchases before major announcements
Click to expand...

A grant of stock options is not a share purchase.

Do we even know what the option price was?
 
Rexedgar said:
The Eastman Kodak Company gave its CEO 1.75 million stock options just one day before the company’s stock soared amid news that it would receive a $765 million federal loan to manufacture critical drug components, the New York Times reported Friday.

When news of the White House deal went live earlier this week, Kodak’s shares ballooned by more than 1,000%, topping out at around $60 (they’ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.


One of the drugs Kodak will be looking into?�


Hydroxychloroqine

Bloomberg - Are you a robot?



Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared
Click to expand...

Just proves that timing is everything.
 
Tlrmln said:
What am I missing, other than you're jealous that some people make lots of money for being in the right place at the right time, but you look the way when it happens for others?
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This isn't being in the right place at the right time. This is corruption, pure and simple. This is your money paying for that $50 million payday - it's all because of a federal loan and a government contract, and the insiders are getting rich off it. It's crony capitalism at its finest. I hope the GOP fundraisers have this asshole on speed dial, and are hitting him up for a series of $7 or 8 figure dark money contributions as a thank you to Trump. He deserves it, since he made it possible.
 
Jonsa said:
That's how it works. Close the deal get the options. don't close the deal, plod on. Nothing nefarious about it, in fact its a widely used executive incentivized compensation clause in their employment packages.
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You'll need some evidence it's common practice for a BOD to get a deal done, then the day before it's announced grant the CEO a massive stock option package, while the BOD not coincidentally also grant themselves a fat options grant, timed ahead of the public release, of course. And all the while news of the deal leaked and a bunch of insider traders also got rich by buying ahead of the announcement.
 
Tlrmln said:
A grant of stock options is not a share purchase.

Do we even know what the option price was?
Click to expand...

Usually it is the value of the stock on the day the option was given, most likely either the opening value or closing value. Back dating options was if I recall correctly banned after the financial crisis,
 
JasperL said:
You'll need some evidence it's common practice for a BOD to get a deal done, then the day before it's announced grant the CEO a massive stock option package, while the BOD not coincidentally also grant themselves a fat options grant, timed ahead of the public release, of course. And all the while news of the deal leaked and a bunch of insider traders also got rich by buying ahead of the announcement.
Click to expand...

Oh. That's sounds very nefarious.
 
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