May 10, 2018

BT must ensure strategy does not develop into a Kodak moment

"Kodak chief executive Colby H Chandler, 1988:"For Kodak shareowners, the merger with Sterling Drug will accelerate our entry into the $110bn-plus worldwide pharmaceutical industry‚ÄČ. Kodak ended up cutting its workforce and its dividend in the 1990s and 2000s. That makes the ¬£5bn it has spent on BT Sport TV rights as hard to justify as the $5bn Kodak spent on Sterling's pharmaceuticals. BT does have some valid excuses for its investment priorities, though. Kodak was still blaming market conditions - "Rising silver and aluminium costs" - and increased investment in "Ink-jet printer products" as recently as 2008.

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