University of Rochester Reflects on Kodak Finances
By: Caroline Tucker
Updated: January 19, 2012
The
University of Rochester has surpassed Kodak as the top employer in
Rochester.
It was once a title
held by the film company.
The
president of the University of Rochester says without Kodak and its
founder, George Eastman, the school would not be what it is
today.
Eastman made many gifts during his lifetime. One of the
largest gifts was to the University of Rochester.
At
the time of Eastman's death, he had donated more than $35 million
dollars to the U of R.
That included money for the Eastman Theater and School of Music.
"His support still is the basis for our River Campus, it's the basis for our medical center, it's the basis for Eastman School of Music, the Eastman Theater, the Eastman Oral Health, I mean he touches everything at our University," said Joel Seligman, University of Rochester President.
Seligman reflects that what Eastman did was "magical."
"Everyone
in Rochester will reflect on this sobering news with a sense of
gratitude for what Eastman Kodak has meant to our city; for George
Eastman's visionary technology; for Eastman's generosity to our city
and wider community; and for the tens of thousands of former Kodak
employees who still reside here and enrich this community," said
Seligman.
Seligman is also on Kodak's Board of
Directors.
"This does not mean that Kodak will be
liquidated or that all of Kodak's current employees will lose their
jobs. In the best outcome, Kodak will emerge from reorganization a
smaller company with less overwhelming debt and a sustainable
future," said Seligman.
