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Henry a. Strongthe eastman kodak company (simply referred to as kodak /ˈkoʊdæk/) is an american publicly traded company that manufactures a variety of products related to its https://www.amazingamateurmodel.com/ historical footing in the analog photography market. The company is headquartered in rochester, new york and registered in new jersey.[2] the company is best known for its photographic films, which it first brought to the mass market. Film camera. After the release of the kodak camera on may 23, 1892, the eastman kodak company was incorporated. Under eastman's leadership, the company became one of the world's largest manufacturers of membranes and cameras, and also developed a model of social capitalism and established close relationships with the city of rochester. Throughoutduringduringduringduringduringduringduringduringduringduringduringduringduringin duringduringduringduringduringduringduringduringduringduringduringduringduring duringduringduringduringduringduring for much of the 20th century, kodak dominated the operation of photographic film and produced a number of technological innovations through significant investment in research and development at kodak's expert institutions. Kodak produced some of the mostmost popular] popular camera brands of the 20th century, even brownie and instamatic. The ubiquity of the company has been such that its slogan "the kodak moment" has entered the common lexicon to describe a personal event that deserves to be recorded for posterity. The 1990s resulted in increased competition from fujifilm's side. The company also struggled with the transition from film to digital photography, although kodak developed the first standalone digital camera. Attempts to diversify its chemical operations failed, and as a turnaround strategy in the early part of the century, kodak instead made an aggressive turn towards digital product photography and digital printing. These strategies failed to improve the organization's pay, and in january 2012, kodak filed for chapter 11 bankruptcy protection in the united states bankruptcy court for the southern district of new york.[14][15][16]

In september 2013, the company emerged from bankruptcy, cleared large debts inherited from the past, restructured, and exited many businesses.[17] after emerging from bankruptcy, kodak continues to provide commercial digital imaging products and services,[18] motion picture film,[19] and photographic film,[20] the latter of which is distributed through its subsidiary kodak alaris[21]. The company has licensed the kodak trademark to a group of products made by other entities, such as jk imaging's pixpro line of digital cameras. In response to the current year's covid-19 pandemic, kodak announced at the end of july of that year that it would begin manufacturing pharmaceutical materials.[23]

History[edit]

Name[edit]

The letter k was george eastman's favorite letter; he is quoted as saying, "it feels like strong, sharp writing." [24] he and his mother maria coined the name kodak using a set of anagrams. Eastman said that when making the name, he used 3 main principles: it should be short, easy to pronounce, not like any other name, and not be associated negatively with others. According to a 1920 advertisement, the name "was simply invented - formed from the letters of the alphabet to meet the gaming requirements of the manufacturer. Which was compact and harmonious and perhaps remembered by public opinion. Incorporated by the eastman company in 1888[26] it was also rumored that the name kodak came from the sound the shutter made. With henry strong in 1880, and on january 1, 1881, the eastman dry plate company was founded with strong as president and eastman as treasurer. The company originally sold dry plates for cameras, but eastman became interested in completely replacing glass plates with a new roll film process. On october 1, 1884, the firm became the eastman dry plate and film company. In 1885, eastman, with william walker, patented the first practical film roll holder, which allowed dry-plate cameras to hold multiple exposures in the camera at the same time. That same year, eastman patented a form of paper film he called "american film". Eastman continued to experiment with cameras and hired chemist henry reichenbach to improve the film. These experiments culminated in an 1889 patent for nitrocellulose film. As this firm continued to grow, it reorganized several more times.In november 1889, it was renamed the eastman company, and 10,000 shares were coined at a price of $100. May 23, 1892 there was a new round of capitalization, and the company was renamed eastman kodak.[4] [33] eastman kodak of new jersey was formed in 1901 and existed in conjunction with eastman kodak of new york until 1936, when the new york firm was dissolved and its assets transferred to the new jersey organization. . The kodak company is still registered in new jersey, although its headquarters is in rochester.

The kodak camera[edit]

In 1888, the kodak camera was patented by eastman. It was a box camera with a fixed focus lens on the front and no viewfinder; two v-shaped silhouettes at the top assisted in aiming at the object's sphere. At the top of such a bike was a rotating key to advance the film, a pull rod to mount the shutter and a button on the side in the name of its release, exposing the celluloid film. Inside it had a rotating bar to drive the breech. When a person pressed a button to take a picture, the inner rope would stretch and the exposure would begin. After the photo was taken, the gambler could turn the top key to enhance the selected frame on the celluloid tape. 100 exposures and could be mailed to eastman's headquarters in rochester with $10 to process. The camera will be returned with prints, negatives and a new roll of film. Additional rolls are also issued for $2 to professional photographers who wish to develop personal photographs. By relieving the photographer of the complicated and expensive process of developing film, photography is now more accessible than ever before. The camera was an immediate success with the public and started the amateur photography craze. Eastman's advertising slogan "you press the key, we do the rest" soon entered the public lexicon and was referenced in speeches by chauncey depew[33] and by gilbert and sullivan in their opera utopia limited[36]. Expansion[edit]

During the 1890s and the early part of the last century, kodak grew rapidly and outperformed the competition through a combination of innovation, acquisitions and exclusive contracts. Eastman realized that film would be more profitable than the cameras that used it and focused on controlling the film market. This sales model for razors and blades will change little over a number of decades. Rochester soon needed larger facilities, and construction began on a kodak park in 1890. Kodak has acquired and opened several markets and factories in the old world, especially in the uk. Initially, the british holdings were formed within the eastman photographic materials company. Beginning in 1898 they were transferred to the holding company kodak limited. The australian subsidiary australia kodak limited was established in https://www.crazyamateurmodel.com/ 1908. In 1931, kodak-pathé was founded in france, and after the acquisition of nagel in belgium and france, kodak ag was formed.[40] suitable for children, the brownie camera was first introduced in 1900 and further expanded the amateur photography market. One of the significant markets for cinema was the nascent film industry. When thomas edison and other film producers founded the motion picture patents company in 1908, eastman arranged for kodak to become the industry's sole supplier of film. In 1914, kodak built its current headquarters on state street. By 1922, the firm was the second largest buyer of silver in the united states after the us treasury. Beginning july 18, 1930, kodak was included in the dow jones industrial average.[43]

During world war i, kodak opened a photographic school in rochester to train aerial reconnaissance pilots[43]. 44] the war strained supply chains and eastman looked for new chemical sources over which the company could have direct control. At the conclusion of the war in 1920, kodak purchased a tennessee birch, aspen, and alder distillery from the federal government and established the eastman tennessee company, which later became the eastman chemical company.[34][45]

Henry strong died in 1919, after which eastman became president of the company. Eastman began to wind down his involvement in the day-to-day running of the organization in the mid-1920s and officially retired in 1925, though he remained on the board of directors. William stuber succeeded him as president and ran the company jointly with frank lovejoy. .[47] research has mainly been scattered on film emulsions for color illustration and radiography. In 1915, kodak began marketing kodachrome[a], a two-color film developed by john capstaff in a research laboratory[47].Another two-color film, dubbed film, was marketed for x-ray photography because it had a short exposure time and could reduce the radiation dose needed for photography.[48]

Labor relations[edit]

Kodak became closely associated with rochester, where most of its co-workers lived and was at the forefront of welfare capitalism. During the 1910s and 1920s. Eastman implemented a number of worker's benefit programs, even a social security fund for workers' compensation early in the twentieth century, and a profit-sharing program for all employees in 1912. In 1919, he sold a significant portion of his shares to the company's operators at below market prices. Expansion of benefits continued after eastman; in 1928, the company began offering life insurance, disability benefits, and employee retirement plans at the request of company statistician marion folsom. Many other employers in the rochester area followed kodak's lead and increased their wages and benefits to be competitive in the job market.[53]

Eastman believed it was in the company's best interest to provide these benefits. He feared unions and believed that offering higher compensation than union workers could receive would deter unionization and avoid the potential costs of a company strike. Selling its shares to employees will both make it more aesthetically pleasing to investors who were wary of buying shares because of its large holdings, and lower the share price, making it more difficult for antitrust lawyers to investigate the organization. Because kodak was a capital-intensive industry with a low capital-to-labor ratio, employee benefits contributed less to the firm's costs than other industries.[51]

Job opportunities did not extend to all rochesters. The company almost exclusively employed workers of anglo-saxon origin under eastman,[51] and excluded catholic, african-american,[54] and jewish immigrants.[55] approximately 30% of the staff were women.[51] the family employment system, where the children of employees were hired after their parents, solidified the concept of the industrial community that eastman sought to create. This system was not seriously challenged until the release from world war ii. Therefore, due to the common origin and great advantages of the company, kodak employees formed a close community that viewed unions as outsiders, and no attempt to organize workers in kodak in the 20th century was successful.[5][51]

The great depression[edit]

Kodak was hit hard by the great depression, although rochester was getting rid of its worst effects as banks were able to remain solvent.[56] seventeen percent of the company's colleagues were laid off between 1929 and 1933. Company founder george eastman committed suicide at his home on march 14, 1932 due to declining health. From 1931 to 1936, kodak participated in the rochester plan, a private unemployment insurance program designed to generate idle income and increase consumer spending. The program was founded by marion folsom, who received national recognition for his work and would go on to be a company director and cabinet secretary for dwight d. Eisenhower. The payments were made between 1933 and 1936, after kodak had run out of layoffs. The program resulted in numerous statistical improvements to kodak, but had little overall impact on the rochester community as few companies were willing to participate in the program.[56]

Research projects have resulted in a number of new kodak products in 1930s. At kodak's expert labs, leopold godowsky, jr. And leopold mannes invented three-color film that became commercially viable. In 1935, the product was released under the name kodachrome. The company also made industrial high-speed video cameras, and began to diversify its chemical operations into vitamin concentrates and plastics. In 1934, kodak entered into work with edwin land to supply polarized lenses [61] after briefly considering an offer to purchase land's patents. [62] land later founded the polaroid corporation and invented the first instant camera using emulsions supplied by kodak. .[34]

World war ii[edit]

After america's entry into world war ii, kodak ceased production of amateur films and began supplying select american war effort war production council. The company produced film, cameras, microfilm, pontoons, synthetic fibers, rdx, variable time fuses, and hand grenades for the government.[64]

Kodak's subsidiaries in europe continued to operate during the war. . Kodak ag, the german subsidiary was taken over by two trustees in 1941 to allow the company to continue in office in the event of war between germany and america. The company produced film, fuses, triggers, detonators and other equipment. Slave labor was used in the factories of kodak ag in stuttgart and berlin-kopenick.[65] during the german occupation of france, the kodak-pathé facilities at severan and vincennes were also used in support of the german war effort.[66] kodak continued to import into the united states goods purchased from nazi germany through neutral countries, one of which was switzerland. This technique has been criticized by many american diplomats, but defended by others as more beneficial to the american war effort than harmful. Kodak has no penalties either during or after the cooperation war. In 1943, a group of kodak scientists encouraged the manhattan project and enriched uranium-235 at oak ridge.[64]

Kodak's experiments with radiation continued well into the end of the war. In 1949, a batch of x-ray film that the company had processed magically fogged up. Julian webb, who worked at oak ridge, speculated that the film was exposed to radiation from nuclear weapons testing. The radiation source was eventually invented new from straw cardboard from vincennes, indiana, it was exposed to radioactive fallout that had penetrated thousands of miles northeast of the trinity site. It wasn't until after all this discovery that kodak officials became concerned that fallout would contaminate a significant portion of their film and began monitoring atmospheric radiation levels through rainwater harvesting at kodak park. In 1951, the us atomic energy commission (aec) began providing kodak with a nuclear test schedule in exchange for silence once the company threatened to sue the federal government for film damage. Kodak was later awarded a contract to develop emulsions for radiation testing of radioactive fallout from nuclear tests. In the post-war era, when there was an increase in the use of film for amateur, social and community purposes. In 1948, tennessee eastman created a working acetate film that quickly replaced nitrate film in the motion picture industry because it was nonflammable. In 1958, kodak began selling the eastman 910 line of superglue. Its cameras were used by nasa for crewed and uncrewed space exploration. In 1963, the first instamatic[b] cameras were launched, which were the company's cheapest cameras to date. Annual sales exceeded 1 billion green in 1962 and 2 billion usd in 1966. Albert c. Chapman succeeded thomas hargrave as president in 1952 and was succeeded by william s. Vaughn in 1960. Louis c. Eilers served as president and ceo from 1969 to 1972. In the 1970s, kodak published important research on dye lasers[74] and patented the bayer filter method for placing rgb on photosensors.[75]

During the cold war, kodak was involved in several clandestine government projects. From 1955 they were contracted by the cia to develop video surveillance systems and develop film for the u-2 reconnaissance aircraft as part of project beachhead. Kodak also has an agreement with the national reconnaissance agency to manufacture cameras for surveillance satellites such as the kh-7 gambit and kh-9 hexagon. Between 1963 and 1970, kodak engineers worked on the canceled manned orbital laboratory program, developing optical sensors for a crewed reconnaissance satellite. Later, the company conducted a study for nasa on the astronomical use of the technique created for mol. In which he was the preferred employer for many. The company continued to offer better wages and more benefits than competitors in the labor trade, including an annual payroll dividend, a bonus for all employees that was typically 12% of base pay. Employee loyalty was high, and in the 1950s, the company's employee turnover was only 13%, compared with 50% for american manufacturers as a whole. Journalist kurt gerling noted that kodak employees behaved like a class apart from other workers in rochester, and connecting cradles to babies is impressive in the fact that "daddy is a kodak person"; logically this compares to "our father is a 33rd degree bricklayer". '".[81] note the model presented by the new york times of 1989. Rochester was associated with a corporate city. Mergers or takeovers that are able to open up all possibilities.Discoveries and materials were still scattered on products that are related to the production and development of film, which is why the company lagged behind polaroid and xerox competitors in laying out instant cameras and copiers. Kodak began to release their own versions of each of the videos in the late 1970s, but none of them became familiar. Both product lines would be abandoned in the 1990s.[6]

Rivalry with fujifilm[edit]

Japanese rival fujifilm has entered the america. Market smarter films and consumables in the 1980s. Fuji defeated kodak in a bid to become the official film of the 1984 los angeles olympics, giving it a strong foothold in the market. Fuji opened a film plant in the states and its aggressive marketing and price cuts began to take market share away from kodak, rising from 10% in the early 1990s to 17% in 1997. Fuji also made headway in the professional market with convenient transparencies like velvia and provia that competed with kodak's proprietary professional product, kodachrome.

Inspired by shareholders, the company began to cut surplus and earn big profits. Layoffs to save money. Despite competition, kodak's revenues and jackpot continued to rise in the 1990s thanks to a change in strategy and a general expansion of the global market. Under ceo george m.C. Fischer, kodak's annual income peaked at 16 billion greenbacks in 1996, and affluence peaked at 2.5 billion usd in 1999.

In may 1995, kodak filed a petition with the us department of commerce under section 301 of the commerce act, arguing that such poor performance in the japanese market was a direct result of fuji's unfair practices. The complaint was filed by the united states with the world trade organization.[86] january 30, 1998. The wto announced a "strong rejection of kodak's complaints" to sell film in japan.

A price war between the two companies broke out in 1997, consuming kodak's profits. [11] kodak's 1997 financial results showed that the company's revenue fell from us$15.97 billion in 1996 to fourteen percent of us$36 billion in 1997, i.E. Fall more than 10%; his net income rose from day one, $29 billion all the way up to $5 million over the same period. Kodak america's market share fell from 80.1% to 74.7%, a drop in the highest percentage points for the year.[87]

Fuji and kodak recognized the imminent threat of digital diversification as a mitigation strategy, fuji has done better in diversification. Fuji ceased film production in 2013, leaving kodak as the last major manufacturer.[19]

Going digital[edit]

Kodak employee steven sasson developed the first portable digital cam in 1975. Larry matteson, another collaborator, wrote a report in 1979 predicting a complete shift to digital photography by 2010. However, the company's executives did not want to make a sharp turn towards digital technologies, as this would require large investments, make the main business of cinema unprofitable and put the company in direct competition with well-known manufacturers in the computer equipment industry. / >Under the leadership of ceos colby chandler and kay whitmore, kodak has instead attempted to diversify its chemical operations. Although large budgets have been allocated to these new operations, long-term planning or cheating by external experts has been limited, and more than half of them lead to large losses. Another attempt at diversification failed when kodak acquired sterling drug at the end of the last century for $5.1 billion. The medical company was overvalued and soon lost money. Research and development kodak research laboratories were working on electronic technology in the 1980s, laying the foundation for an eventual digital transition.[6]

In 1993, whitmore announced a restructuring of the company, and he later he was succeeded in his year by george m.C. Fisher, former ceo of motorola. Under fischer, the company moved away from chemical diversification and focused on a gradual digital transformation. Tennessee eastman was spun off to eastman chemical on january 1, 1994,[94] and other sterling drug operations came into existence a month later in 1994.[95] later, eastman chemical became a fortune 500 company in its own right. A key component of the phased strategy was a line of kodak digital self-service kiosks installed in offline marketplaces where consumers could upload and edit photos as a replacement for traditional photo editors. Kodak also began manufacturing digital cameras such as the apple quicktake.Film sales continued to rise during the 1990s, slowing down the shift to digital technology.[98]

In 2001, film sales began to decline.[99] under the leadership of daniel karp, fisher's successor as ceo, kodak made an aggressive click into the digital camera market with the launch of the easyshare family of digital cameras. By 2005, kodak was number one in the united states in digital camera sales, which grew 40% to about $5.7 billion. The company has also started selling digital medical imaging systems following the issuance of israeli companies algotec systems and orex computed radiography. Despite initial strong sales growth, digital cameras had a low margin due to strong competition, and the market quickly matured. Its digital cameras were soon supplanted by asian competitors who could manufacture and sell cheaper products. As a result, many digital cameras were offered at a loss. The movie business, where kodak made a decent profit, also continued to fall. The combination of these two factors resulted in lower profits.[99] according to research company idc, in 2007 kodak ranked 4th in sales of digital cameras in america with a share of 9.6%, and by 2010 they occupied 7% place, second only to canon, sony, nikon and others. [96] in the late 2000s, digital imaging increasingly relied on dedicated digital cameras, which by the late 2000s were gradually replaced by cameras on mobile phones, smartphones, and tablets. Digital camera sales peaked in 2007 and declined at the end.[104]

New strategy[edit]

Kodak began another shift in strategy after as antonio perez became ceo in 2005, at the same time that kodak had previously done all variations and creation in-house, perez closed factories and outsourced or eliminated manufacturing units. A few weeks into 2006, kodak agreed to outsource its digital camera manufacturing services to flextronics, including assembly, manufacturing, and testing. The company generally left the market of film cameras and began to curtail the production of film products.[13][107][108] without exception, 13 film factories and 130 photo studios were closed between 2004 and 2007, and 50,000 employees were laid off. In 2009, kodak announced that it would be discontinuing the sale of kodachrome iridescent film after a 74-year production period following a sharp drop in sales.[110][111]

Pérez has invested heavily in digital methods and new services, which are based on technological innovations to increase profits.[99] he also spent hundreds of millions of bucks building his highly profitable printer ink business to replace falling film sales, a move that was widely criticized because of the big battle for space in the printer industry that would have made expansion difficult. ] Kodak's ink strategy rejected the razor-and-blade business model used by dominant market leader hewlett-packard, selling expensive printers with very cheap ink cartridges. In 2011, it was reported that new lines of inkjet printers like this would turn a profit in the near future, although some pros were skeptical as printouts were gradually replaced by electronic copies on computers, tablets, and smartphones.[113] inkjet printers were still considered important anchors for the company after it filed for bankruptcy. True, in september 2012. Falling sales forced kodak to announce a release from the consumer inkjet printer market.[114]

Bankruptcy[edit]

Finance and stock in 2009, the company negotiated loans of 300 million greenbacks from kkr. A number of divisions were sold to pay off debts from previous investments, most notably kodak health group, simply profitable divisions of the company. Kodak used $2.35 billion from the sale to fully repay its secured term loan of approximately $1.15 billion. About eight 100 employees of the kodak health group joined onex, which was renamed carestream health. In 2010, kodak was dropped from s