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Re: filmscanners: Polaroid's state of health
Hemingway, David J wrote:
> I would like to point out a major mis-statement in your thesis. On
> the court specifically authorized Polaroid to fund all ongoing product
> promotional programs , warrantees, etc. The exact wording is a follows
> regarding the $40 million the company obtained.
> for use by the company to continue operations, honor product
> continue customer programs (including rebates, promotions,
> returns) and to purchase goods and services from suppliers
> I would greatly appreciate you go to wherever you posted your
> and rescind it.
> Thank you in advance
David and all others reading this:
At the time I wrote the information quoted below, (which I indicated was
several days before the posting on this list) the information contained
in it, which was paraphrased from Polaroid US's website and other
published sources, appeared to be accurate.
As I mentioned, in the information below:
Currently, Polaroid DOES NOT have the permission of the Court to carry
> out warranty repairs. Warranties are a liability expense to unsecured
> holders. Polaroid is petitioning the Court for the ability to honor
> warranties so they can service their clients, and usually, the Court
> will agree since it is not beneficial to a company to alienate their
> main clients, even if the company is to be sold, (some will have long
> memories ;-)) but they may place restrictions on how much money can be
> used toward warranty services.
As I understand Chapter 11 filings, it is not automatic that the Court
will approve all continuing expenditures of the corporation while it
reorganizes. Warranty services expenses have to be requested of the
Court for approval. I believe I got this information, and that they
would be asking the court for approval, from Polaroid's own website.
Obviously, Polaroid did seek a remedy from the court to finance
warranty services, and apparently, from the more recent
information posted, were granted it. I'm glad the Court had the
vision to recognize the import of ongoing warranty services. David's
posting above serves to update the information I originally posted from
several days earlier. The information I provided was stale dated by a
several hours. I will gladly update the other list I provided this
posting to, as I wish the information to remain current.
In no way did I intended any harm or malice in providing this
information. It was provided, as was the other information, for
edification and to try to answer questions some might have about the
In a second posting David Hemingway stated:
>I would also add that your speculation on where the various business
>units may go is just that "speculation' and should be so labeled.
>The problem is these ramblings can take on a life of their own and
what >is speculation is then perceived as fact.
Below is the wording I used regarding possible purchasers of the parts
of Polaroid, should it be sold. I am indeed speculating, I claim no
specific knowledge as to who, if any, buyers might be considering
Polaroid at this time. That is why I used the terms "I'm speculating".
> I'm speculating that Fuji might buy their film division since they use
> Polaroid technology for their instant camera line anyway, and have an
> ongoing relationship with them.
Regardless of the words in my own defense, I am saddened that my posting
was misconstrued as something to possibly harm Polaroid. Obviously, I
failed in my intent to provide some information, some speculation, and
some personal feelings about the company, which were heartfelt and sincere.
I wish to therefore requote my closing words from that posting, below.
...if Polaroid is dissolved, I will truly miss it.
"There aren't many large businesses that I can honestly state that I
respect, or which have treated me well throughout my business
relationship with them, but Polaroid has been one. From the first time
I contacted them, when I was about nine years old, asking them for
samples of polarizing filters for a science project (which they
generously sent me), to my dealings with their video division and more
recently their scanner division, they have always treated me with the
utmost respect and decency. It is obvious that they have promoted a
corporate culture that brings in quality people who care about the
company they work for and the clients they interact with, and even
throughout the last several months of hardship, they have maintained
high standards. David Hemingway, on this list, is one such example.
One can only hope that this type of corporate philosophy can be upheld
and transferred to whomever takes over the company assets. I hope
this is not an indication that their business philosophy is of a
bygone era which cannot survive in today's "dog eat dog" corporate
environment, because if that is the case, we are all in for a downhill
ride in our dealings as consumers, and in our dealings as humans."