There's A Major Scandal Brewing In Trump's Kodak Pharmaceutical Award

[Nevilledog]

https://crooksandliars.com/2020/07/there-s-major-scandal-brewing-trump-s

While Trump has refused to heed calls to invoke the Defense Production Act for the manufacture of PPE and COVID-19 testing supplies, he suddenly gifted Kodak, the camera people, with a $765M loan for a not-yet established division to start producing ingredients for pharmaceuticals.

The Washington Post notes that the lender, U.S. International Development Finance Corporation, or DFC, “normally funds infrastructure and other projects in the developing world. But in an executive order signed in May, President Trump gave DFC new powers under the Defense Production Act to finance domestic health-care manufacturing needed to respond to the coronavirus crisis.”

In his comments about the award, Trump praised the “extraordinary leadership” of Kodak and said they have hired “some of the best people in the world to be taking care of that company and watching that company, watching over it.”

But Trump never said why Kodak, as opposed to any of the already-established pharmaceutical companies in the U.S., will make the best use of our $765 million.

*snip*

[soothsayer]

1. Because of course he's doing something crooked

[monmouth4]

2. Oh yes, something is going on and it isn't good. Trump involved? Bad news..n/t

[lpbk2713]

3. What a farce.

They probably won't even have the plant on line before Covid has run its course.

Joe can cancel the contract in January and Kodak will have to eat what they have invested in it.

[spanone]

4. Most corrupt administration you could imagine.

kickback?

[leftieNanner]

8. Maybe

But they did an analysis of the usual volume of trading on Kodak stocks and then they looked at the volume of trading the day BEFORE Ass Face made the announcement. It was something like ten times more than normal.

Somebody got a heads-up about the announcement and made a shit-ton of money.

[2naSalit]

5. Add it to the pile over there

in the corner of the barn.

[ProfessorGAC]

6. Kodak Has A Specialty Chemicals Group

In Rochester, NY.
I was there a few times, most recently around 10 years ago.
When I heard this I automatically thought reagents for testing. They have both the manufacturing infrastructure & the expertise.
When PINO talked about them hiring really good people, I suspected that none of them were hired for this venture. Rather, they were hired 5, 10, or 25 years ago and still work there.
We used to buy some Kodak branded reagents in my labs, all the way back to the 80s.

[AJT]

7. I thought the same thing. I had high hopes that this might have been a good thing.

It still may end up a good thing.

[ProfessorGAC]

11. In Reading One of Their PDFs...

...I found their polymers group has some novel encapsulation technology.
The versions in the document don't seem chemical appropriate for biomed, but I'm wondering if this has something to do with vaccine, or medical mitigation delivery.
Just tossing darts, here.

[tikka]

9. Kodak's stock price jumped when this was announced

Traitor45 and all his cronies could have made a bundle with the inside information about the loan,

[brush]

14. You just know those crooks had call option buyers four or five people removed from them...

Last edited Fri Jul 31, 2020, 03:20 PM - Edit history (1)

to act on insider information. I'm betting a little money tracing will turn up an orange taint.

[brush]

10. Kodak? The same company that invented the digital camera but killed it and stuck with film...

even when digital camera technology just about killed it's film business in the early 2000s? That Kodak?

[Ferrets are Cool]

13. Yeah, the same one

I owned one of those $25K Kodak digital cameras. Great images from a 2mp sensor. Then Nikon copied it and brought the price down to $5K and we bought a bunch of those. Kodak never recovered.

[gratuitous]

12. We can't afford to supplement our citizens' income or help small businesses make it through

But $756 million for Kodak? No problem! Just so you know, that would fund $600 a month for six months for 210,000 American workers.

[Alex4Martinez]

15. Kodak stock went up 2,100%, but trades began the day before public announcement.

So if that explains it, then we know what's going on.

https://www.cnbc.com/2020/07/29/kodak-executive-chairman-addresses-jump-in-trading-activity-before-government-deal-was-announced.html

https://politicalwire.com/2020/07/29/kodak-stock-trades-surged-before-announcement/

[Nevilledog]

16. I call that insider trading.

[Alex4Martinez]

17. It's got orange fingerprints all over it.

Cheetohey sticky rotten fingerprints.

That's why Kushner was in charge of PPE early on, taking it from states and making nice with foreign countries, it's all about deal making and gaining favor for personal gain and aggrandizement.

So sick of this.