Eastman Kodak Co. chief executive Antonio Perez is either the most optimistic business leader in America or the most deluded. In a statement detailing fourth-quarter results, Perez said that “Kodak is now a thriving digital company.” The reason for Perez’s optimism was that for the first time ever, Kodak sold more digital stuff than traditional film stuff. And since Kodak is amid a restructuring effort aimed at transforming itself into a seller of digital stuff, the fourth quarter represents a milestone. But Kodak also said it expects to post a loss in 2006 of about $1 billion. One may describe a company losing money at that rate as “ailing,” “reeling,” “sinking,” “hobbling,” “limping” or perhaps “stumbling.” But “thriving”? Kodak shares fell 2.35% to close Monday at $25.75. — Jeffrey Kanige
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