Kodak-con

Normally I wouldn't post this on a finance blog but I picked this up on Only VIX, one of my favorite finance Blogger blogs. The big picture doesn't look good.

On the corporate side of the con, we have Kodak Chairman and CEO Jim Continenza, who picked up 3 million shares and cheap options over the past 4-6 months. It’s Kodak board member George Karfunkel of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz, who owns about 4.3 million shares through at least five shell companies. Of these shares, they were also each granted tens of thousands of shares in Kodak just over the past 60 days.

And so on. It's good for insiders, good for politicians, terrible for everyone else.