– Kodak could file for bankruptcy in the first few months of 2012 if it can’t get financing or sell its patents. That’s according to the Wall Street Journal in an article behind a paywall. Reuters picked it up and cited the WSJ as saying Kodak can’t get the $900 million it needs; hedge funds are willing to loan $600 million to $700 million.
In its third quarter earnings report, Kodak warned it would run out of cash in 2012. The company has said it has no intentions of filing for bankruptcy.
Meanwhile, almost every major media outlet in the country has written Kodak’s obituary, including a recent piece from the Los Angeles Times titled Kodak’s Long Fade to Black and a New York Times story saying Kodak jumps “from one buggy whip business to another.”
– Mike Green’s bid for a federal judgeship is over. The White House will not renominate him after he was blocked in the Senate. It’s not clear where Green will land. We hope to hear from him today.
– A study in the journal Pediatrics found nearly one-third of people will be arrested by the time they’re 23. “Society is a lot less tolerant of these teenage behaviors.”
– Part two of the Washington Post’s story following up on “The Dreamers,” fifth-graders who were promised a free college education in 1988. “When they weren’t traveling on their exclusive school bus, the Dreamers returned to communities rife with drugs and gang-related carnage.” Part one ran yesterday and I questioned tuition incentives.
– Skaneateles High School canceled a major dance because kids wouldn’t stop “grinding.” The school was rather creative in its failed attempt to get kids to dance like grandma’s watching.