Kodak sets $1 bln stock buyback

Kodak plans to snap up $1B of its own stock - stock jumps
Eastman Kodak Co said on Tuesday it would buy back up to $1 billion of its stock, driving the photography company's share price up nearly 17 percent from historical lows.

While consumers might prefer to spend their tax rebates on sale items at Wal-Mart, Eastman Kodak is using its tax refund to help buy its discounted stock.
The photography company said Tuesday it is planning to buy $1 billion of its stock largely using a $581 million tax refund resulting from paying too much tax from 1993 through 1998. That $1 billion buys more than it used to since Kodak stock is down by two-thirds over the past eight months. Tuesday, the shares rose 14% to $14.03.
Other companies, though, don't seem to be sharing the Kodak (EK) buyback moment even while the broad market has been dropping.
While the number of announced buybacks is the same as it was this time last year, the dollar value is down 40% from year-ago levels, Dealogic says.
Rather than taking advantage of lower stock prices, companies in the Standard & Poor's 500 cut spending on stock buybacks by 3.2% in the first quarter to $113.9 billion, the first decline since the third quarter of 2003, S&P says. "Companies are very defensive," says Richard Peterson at S&P.

Credits: Matt Krantz, USA TODAY

FIND MORE STORIES IN: Wal-Mart International Bus. Machines Georgetown University University of Illinois Capital IQ Dealogic Eastman Kodak Richard Peterson Jack Ablin of Harris Private Bank Troubles

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Model Releases In-depth exploration

You may think that model releases aren't necessary for photos used in editorial contexts, but the truth is actually much more complex.
Here are some examples that came up in discussions, all of which share a common theme:

- You're a wedding photographer and you're shooting the bride and groom during a ceremony at their home.
- You're an equestrian photographer on a "farm call" to photograph a horse at the owner's stable.
- You're an art photographer and you're at an artist's studio to shoot a few pictures of his latest sculpture that he will send to his agent, who will then send them to magazines for a press release.
- You're a portrait photographer and own a studio at the local mall. A client comes in to have pictures taken of him so he can distribute them to potential modeling agencies.
- You're a press photographer, and develop a special relationship with a congressional candidate, who invites you to the family estate to photograph the clan for a memoir they intend to publish about the personal tolls that political life can have on a family.

Though there are contracts associated with each of these assignments, none of them include model releases by the subject for the photographer. Here's the question: can you license any of these photos for EDITORIAL use to a newspaper that is doing a story on the individual who is the subject of any of these given photos?

Most people would say no, and would guess that it's because of the lack of model releases. True, but the more important (and harder) question to ask is: why?

Read Dan Heller's in-depth exploration and you'll know exactly what to do to sell your shots without worries.

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