Why the Dean of "Constructivist Activist" Investors Just Lit the Fuse on This Stock
It’s one of those conversations that sticks with you, even as the years – or decades – pass.
It was the mid-1990s, and I was talking with the George M.C. Fisher, CEO of Eastman Kodak Co. (Nasdaq: KODK). The topic: Kodak’s longstanding struggles and Fisher’s plan to jump-start the once-dominant photo giant.
Much of Wall Street wanted Fisher to slash costs, divest futuristic growth-focused businesses dealing “digital photography” and run the entire company in a way that would pump up cash flow to finance buybacks and dividend increases.