Posted on 07/29/2020 12:20:24 AM PDT by knighthawk
President Donald Trump officially announced that his administration is giving camera brand Eastman Kodak a $765 million loan to start producing pharmaceutical ingredients in the country, so the U.S. is less reliant on foreign supply chains amid the coronavirus pandemic.
'It's a great name when you think about it. Such a great name. Was one of the great brands of the world. Then people went digital and Kodak didn't follow, but now under very extraordinary leadership they are following and they are doing something that's a different field,' Trump said from the White House podium Tuesday.
He called it a 'breakthrough in bringing pharmaceutical manufacturing to the United States' and said it would bring new jobs to both Rochester, New York and Minnesota - the latter of which the Trump campaign is eying as a potential swing state.
(Excerpt) Read more at dailymail.co.uk ...
Hey there....
I think you hit on it well where Kodak would fit in pharmaceutical manufacturing. Their expertise with high purity chemicals manufacturing is a combination of both institutional knowledge and specialty infrastructure. I hope they still have enough of this on tap to where they can rapidly expand in a big way into the precursor chemical supply chain.
The guy has wisdom.
Trump may want to win popular vote beside electoral college. So anything he does will help him.
Seriously? I hope their antivirals turn out better than Ektachrome 200.
Why in hell is Trump throwing economic lifelines to Andrew Cuomo? He should let the backstabbing snake crash and burn. I support reshoring but why not in states where Trump has a shot?
I was not a fan of that presser yesterday. At times it almost sounded like he was whining that his poll numbers are not as high as Fauci’s (a. The polls are fake, and b. Your Veep totally lost control of the task force and Fauci is running HIM.)
It was good that he put the Frontline Doctors in the spotlight but even then he eqivicated (Maybe Facebook has good reasons to pull their video? No, Sir, they did not.)
Americans don’t want more taxes
“It’s also possible that Big Pharma was playing hard ball negotiation and asking for more than necessary. That is usually a mistake to try with Trump”
Bump! Trump understand competition and working around unnecessary bureaucrap expense.
This deal was apparently done behind the scenes by Peter Navarro, a real star of the Trump team. Could explain the very high tensions that appear to exist between he and Fauci.
Minnesota is even more shocking as a ‘swing state’ than NY: MN was the ONLY state that went for Mondale in 1984.
“ How is Trump going to protect these rebuilt industries from cheaper labor overseas?”
Labor is just one factor, and not the biggest. The way to address the problem is lower taxes and regulations (we’ve made good steps there and could use more) for US companies. Add the bonus of not worrying about having your IP stolen and the US is the obvious choice.
This cannot be stated strongly enough.
Don't kid yourself. You can eliminate ALL taxes and regulations and you can't compete with labor willing to work for $2.00 for a 12 hour day.
Without tariffs, that's what you are going to get. Because you pay for those cheap overseas goods multiple times. You pay the cheap price. Then you pay for the American worker who has to be supported because he doesn't have a job. Then you pay for the taxes that he would have paid had he had a job. And you pay an opportunity cost because he can't buy whatever product or service you are selling.
Putting them back to work is a great idea.
Mark
When I was a kid we would sometimes go to Kodak Park in the city and watch a movie, bowl, see holograms with the new technology, etc. They had a big laser set up (about the mass of a VW) and they punched a hole in a dime and gave it to me...none of the kids at school believed me...
My cousin ended up being a manager for their computer graphics apps and conducted shakedown testing, etc. He retired a few years ago and moved out to warmer climes.
It was it’s own city. They even had their own full time fire department.
I remember seeing those YUGE tanker train cars “Kodak Chemicals”.
They also made high quality paper.
I made camera lenses. You may have photos taken through a lens I made. (if you are old enough to have taken “film” photos).
Kodak used to do a lot of cool stuff in the day. Most of it no one ever knew about, including employees.
Should have bought Kodak stock last week.
Dammit!
My brother was working 12 hour days...four on, one or two off. I’d originally moved away from Rochester in ‘73 with my then husband. We moved to Utica, NY., and other than working at Auburn prison from Sept. 1980 to December 1983, I’ve been back living in the Utica/Rome area since ‘83. Retired from the state’s prison system in 2003. Never wanted to move back to Rochester. My brother and his wife lived in Rochester. They had adopted twin boys, and a girl, then after 15 years of marriage, my sister-in-law became pregnant, and had a girl. She’s now married with four kids of her own...2 boys and twin girls. My niece was 16 when her father died, so he never lived to see his grandchildren born. I’m the last one in my family. I have two sons, ages 53 and 49. The older you get, the faster time goes.
I wonder which insiders knew of the deal and bought stock?
Eastman Kodak Company (KODK)
33.20+25.26 (+318.14%) That is todays price. It got nearly as high as $60
On friday the stock was $2.20
Born in ‘52 - boxes of film photos....small world.
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