Kodak (Photo : Reuters)
A series of leaked email from Kodak's former CEO shows that the once mighty tech company is in deep financial trouble. The email was part of the much bigger Sony leak that was published by whistleblowing website WikiLeaks.
The email sent by Kodak CEO Jeff Clarke was directed towards Sony and other movie studios, according to 13Wham. It shows that Clarke was asking for assistance in order to keep Kodak's film manufacturing plant in Rochester, New York.
The email directed to former Sony Pictures CEO Amy Pascal said, "Attacked is a confidential document...please come back to me with your feedback. We need everyone's support both from a volume and funding to make this successful."
After reading the leaked email financial analyst George Conboy concluded that Kodak is experiencing serious financial crisis than originally imagined.
Reply from other companies, including Disney and Warner Bros., showed that they are skeptical about agreeing to the financial request from Kodak. While other companies directly expressed their nonoccurrence to the proposal.
One major company that disagree with Kodak's proposal was Fox Network. Fox, on its reply to Kodak, said that the digital shooting is financially positive than the use of traditional method.
Despite receiving rejection from several companies, Kodak was able to convince major film studios to back up its proposal and keep the Rochester plant from total closure.
Bankruptcy did not deter Kodak to continue its operation and recently the company is planning to release a new technology that could eventually produce a cheaper and more useful alternative to the regular smartphone touch screen, according to New York Times.
