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UPDATE: Starting Tuesday, there was a lot of interest in the Trump administration $765M loan to Kodak that sent its stock from $2.11 to $60
But during that convo, the most direct evidence of executive profiteering was being CONCEALED from the public https://popular.info/p/update-kodak-executives-surreptitious
But during that convo, the most direct evidence of executive profiteering was being CONCEALED from the public https://popular.info/p/update-kodak-executives-surreptitious
2. Late Wednesday (7/29), Kodak quietly disclosed to the SEC that the day before the deal was announced (7/27) it awarded a bunch of options to top Kodak execs
The top beneficiary was Kodak CEO Jim Continenza he received 1.75 MILLION options on 7/27 https://popular.info/p/update-kodak-executives-surreptitious
The top beneficiary was Kodak CEO Jim Continenza he received 1.75 MILLION options on 7/27 https://popular.info/p/update-kodak-executives-surreptitious
3. But when Continenza appeared on Fox Business and CNBC on the morning of 7/29, he could not be asked about the option grants BECAUSE KODAK HAD NOT DISCLOSED THEM
It appears to be a deliberate effort to keep the grant out of the news cycle https://popular.info/p/update-kodak-executives-surreptitious
It appears to be a deliberate effort to keep the grant out of the news cycle https://popular.info/p/update-kodak-executives-surreptitious
4. Continenza's option grant included nearly 1 million options to purchase Kodak stock at $3.03. These options are worth tens of millions now.
3 other top execs also received similar options in smaller amounts https://popular.info/p/update-kodak-executives-surreptitious
3 other top execs also received similar options in smaller amounts https://popular.info/p/update-kodak-executives-surreptitious
5. Normally, you could argue execs should be rewarded for striking a deal that saves a company. But in this case it was a TAXPAYER loan intended to respond to a PANDEMIC.
Using that occasion to personally enrich topic execs takes on a different meaning https://popular.info/p/update-kodak-executives-surreptitious
Using that occasion to personally enrich topic execs takes on a different meaning https://popular.info/p/update-kodak-executives-surreptitious
6. I'm going to continue to dig into this Kodak loan
The more I dig, the worse it gets
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The more I dig, the worse it gets
For updates, sign up for my newsletter, Popular Information http://popular.info/subscribe
