Eastman Kodak (NYSE:EK) stock is soaring today — well, relatively speaking — on news that the company is restructuring to adapt to the digital age. The company is creating two distinct business units to separate commercial from consumer products and will be streamlining costs even more.
Many folks watching Kodak were expecting a much different announcement: that the once-dominant photography company was declaring bankruptcy, and possibly disappearing forever.
So does this move change anything or secure Kodak’s future? Not really. Like rearranging the deck chairs on the Titanic, the move ignores the core problem. Eastman Kodak is simply a company with way too much debt and not enough profits.
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