Kodak Stock Jumped. It Found a Boatload of Cash—in the Pension Plan.
Kodak stock jumped Tuesday after it found a lot of cash—in the company’s pension plan. Monday, Kodak said in a filing with the Securities and Exchange Commission that its pension plan sold “illiquid” assets worth about $764 million for about $551 million. There’s more: Kodak is also considering ending its retiree pension plan, the Kodak Retirement Income Plan, and taking the excess cash.