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White House Jobs Adviser Heads Tanking Company

January 6, 2012 by  

White House Jobs Adviser Heads Tanking Company

One member of President Barack Obama’s Council on Jobs and Competitiveness heads a company that will likely seek bankruptcy protection in coming weeks after 131 years in business and a once-prestigious place among corporate mammoths.

Eastman Kodak Co. is making final efforts to avoid filing Chapter 11 but has already began making preparations by  talking to banks about $1 billion needed to keep it afloat during the proceedings, according to The Wall Street Journal.

Kodak is in discussions with large banks including J.P. Morgan Chase & Co., Citigroup Inc. and Wells Fargo & Co.

Kodak CEO Antonio M. Perez is on Obama’s council that was created to provide non-partisan advice to the President on continuing to strengthen the Nation’s economy and ensure the competitiveness of the United States and on ways to create jobs, opportunity and prosperity for the American people.

Perez’s bio on the White House website begins:

“Since joining the company in April 2003, Kodak’s Chairman and Chief Executive Officer, Antonio M. Perez, has led the worldwide transformation of Kodak from a business based on film to one based primarily on digital technologies.”

Despite the fact that Perez, formerly CEO of Hewlett-Packard, attempted to lead Kodak toward more digital and print-based markets, The Wall Street Journal says that it was his strategy of using patent lawsuits and licensing deals to keep the company afloat that brought to a head its 2011 financial demise.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • John Carey

    Another looser on Obama’s advising team. All of this mess of failed business ventures–and corporate shady deals is very predictable of Obama’s administration. It is called “follow the leader.”

    • wandamurline

      Advisors or czars….we must stop this implementation by any president to have czars…everyone on any cabinet advising the president should be congressional approved or voted into office by the American citizen. There should never be czars…I do not know where this came from, but I think it must end…Obama has about 30 of these people making decisions that affect the US citizen without any approval of anyone except himself. We do not live in Russia, we live in America and these czars must go. This should be a number one concern of all Americans to stop this practice. Once we have more constitutional representation, I think we have a good chance to stop the practice.

      • Jan

        wandamurline, There have been czars in every administration since FDR. George W. Bush had upwards of 46.

  • Ted Crawford

    Mr. Perez is a fitting team member to Jeffery Immelt, the man who fired 25,000 Americans while hiring 15,000 Chinese! Their appointments to the “Jobs Council?” simply displays Obamas inexpierence and ineptness with all things related to business and private sector jobs…., or could it define his real agenda?
    When taken in context with other decisions by his administration, IE the total disregard for the advice given by his own Simpson-Bowels Commission. His continued insistance on tax increases, in opposition even of men like John Keynes and John Kennedy. His attempts to take over both the Healthcare and Financial sectors of the economy, ETC.,ETC. it seems to suggest his real intentions!

    • Cliffystones

      Don’t bother trying to explain this to all the Libtards and useful idiots!

    • eddie47d

      It’s amazing how much you all wish American companies will fail. Is that in your nightly prayers? That is if you practice what you preach. Hello!Kodak doesn’t sell much film anymore because of the digital revolution or are you acting coy about that too? Most of this job loss came from the tanking economy 5 years ago. Remember 2007-8 or is amnesia setting in? Remember all those companies that were flocking overseas for cheap labor? I wonder who was President then or is that more selective memory? At least you all are consistent in playing twiddle dee and twiddle dumb.

      • RoughandReady

        For crying out loud … when are we going to stop blaming Bush for everything. Good lord, the democrats had 2 years of the WHite House, the Senate, and House of Representatives and still couldn’t get anything going. Get current!!!!!!! Bush was years ago ….. when are you going to wake up and see the Socialist for who he is or keep those blinders on and get buried next November.

      • G.B.

        Guess you forgot who started all this mess. SLICK WILLY started it with all of the trade treaties. So it is not all Bush. History must not have been your best subject in school.

    • brianS

      Ted, you just hit the nail on the head, sack a couple of hundred politicians and bring a few chinese in to do the running, and BAM the good old USA will be great again.

  • Richard Davis

    Do we see forthcoming another stimulous package and including Kodak as receiver before final bankruptcy. The prez has been wanting more indebtedness collateral.

  • Sabulaman

    There will be a bailout of some sort. You can bet on it.

  • CJM

    So what’s the surprise? After all, it’s obammys business to appoint failures to his “think tank of czars”. After geithner, why not another loser? Par for the course for this administration.

  • Gringo Infidel

    Why is this accepted? Executives get very large compensation for running a company into bankruptcy? How is that ‘market driven?’

  • Kevin Beck

    What happened? Doesn’t Obama know how to find executives from businesses that are succeeding better than Kodak and GE? Oh, wait… those people are performing their jobs correctly, and not getting destroyed by Obama’s rules. Instead, Obama just looks for lackeys that will support him because they need his interference for the benefits of their own businesses. (Kodak must be one of those businesses Obama had in mind when he talked about job losses due to…kiosks!) So now we can reasonably expect Kodak to get a government bailout for the jobs that became obsolete over the last two decades.

    Corporatism at its finest…the new Obama slogan.

  • JUKEBOX

    What else would you expect from a person who has the worst financial record of any President in our history. He appoints people who are less competent than he is, so he can blame them, and throw them under the Obama Express Bus. Andrew Rosenthal of the NY Times says any criticism of Obama is racially motivated, but I can’t figure out if it is racism against the white or the black in his background. These racist journalists choose to call someone “BLACK”, even if they only have 10% black in their background. Now that is TRUE RACISM.

  • Joey Biden

    I smell a bailout on the horizon.

    • Ted Crawford

      I don’t know about a bail-out, but with George Soros once again buying Gold instead of selling it, you can almost bet his buddy Obama has warned him that OE-3 is on the horizon!

  • brianS

    Maybe the CEO of Kodak Perez, just did not get the big picture!!!!!!!!!!!!

  • DanB

    Nice to know that our president chooses such successful advisers…. and also interesting that some credit the lawsuits over patents for destroying a company. Makes me wonder what the future will bring Apple, Microsoft, and so many other tech giants as they busily sue each other. Some of the suits make sense because actual intellectual property is being infringed while others seem frivolous to someone like myself–more about destroying competition than real infringement on valid patents. Some have patented vague concepts, other patents are for technology that was already in existence and used elsewhere previously, while even other patents are for things that no one has even built yet and may not build either…. There was somewhere I read someone saying how awesome it was that Apple had created some new technology. I read the article and laughed. I knew it was not a patent for something created but rather a patent for something they MIGHT be investigating to see if can be done, something they might be researching doing. By grabbing up the patent early before anything is real they might be protecting themselves. In that case, I don’t believe Apple was being a patent troll–someone creating a patent for something they don’t intend to create themselves but with a plan to hold the patent so they can sue and get money from those who do end up utilizing innovation that applies to the patent they filed–but patent trolls do exist.

  • Cathy

    We can add one more to Obama’s failed projects to get jobs for Americans. It looks like GM’s Chevy Volt is ultimately going to be manufactured in China. So far, the sales of this car have been a dud, and now that it has caught fire after crashing, sales should really zoom. This is a $40,000 car which gets a $7,500 subsidy from the taxpayers if you purchase one.

    If Obama really wanted to create jobs, he would approve the Keystone Pipeline, but he is bowing to the environmentalists much to the Chagrin of his union buddies. This pipeline would create many union jobs, so Obama is throwing them under the bus now. Guess they’ll all vote to keep him in for another four so he can continue the decline of this country. Of course, with the cuts in our military, we will probably be blown to bits by Iran.

  • http://www.easyinvest.co.za peter

    Antonio M. Perez is set to come out of this one with a huge bonus probably before the bankruptcy is approved. Bet on it. I wonder which company he will target next? It does not matter, Obama will take care of him.

  • ROBERT COLE

    OBAMA CAN;T GET GOOD PEOPLE FOR THOSE POST. G-O-O-D PEOPLE, DON’T LIKE HIM.

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