By Phil Wahba NEW YORK | Fri Mar 16, 2012 11:33am EDT NEW YORK (Reuters) - Avon Products Inc's (AVP.N) next chief executive officer will face a litany of challenges. One of the biggest will be to re-energize the iconic "Avon Ladies," the company's diminished and often demoralized army of U.S. sales representatives. The world's largest direct-selling cosmetics company, famous for the "Ding Dong, Avon Calling" advertisements in the 1950s and 1960s, is more in need of a complete makeover than just a touch-up, according to more than a dozen sales "reps." In interviews, they called for improved commissions, a break on what they pay for brochures, less pressure on them to recruit new reps, and more exciting products to compete with popular brands like ... Continue reading →

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By Ernest Scheyder NEW YORK | Thu Jan 19, 2012 12:09pm EST NEW YORK (Reuters) - Eastman Kodak Co's long decline that culminated in a bankruptcy filing on Thursday can be traced back to one source: the former king of photography's failure to reinvent itself in the digital age. The more than 130-year-old American icon filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York, saying it had obtained a $950 million credit facility to stay afloat while it tries to cut more than $6 billion in liabilities.The filing was not unexpected: Kodak has already become a cautionary tale for anyone considering a career in business.Students at top M.B.A. programs read a case study each year that explores, ... Continue reading →

Thu Feb 9, 2012 8:50am EST (Reuters) - Eastman Kodak Co, the inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs. The photography pioneer, which filed for bankruptcy protection last month, said on Thursday that it will instead seek licensees to expand its brand licensing program. It still plans to offer online and retail photo printing, and desktop printing.Kodak said it will take a charge of about $30 million (18 million pounds) as a result of the move, which it expects to generate annual operating savings of more than $100 million.(Reporting By Sinead Carew; Editing by Gerald E. McCormick) Continue reading →

Thu Feb 9, 2012 8:50am EST (Reuters) - Eastman Kodak Co, the inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs. The photography pioneer, which filed for bankruptcy protection last month, said on Thursday that it will instead seek licensees to expand its brand licensing program. It still plans to offer online and retail photo printing, and desktop printing.Kodak said it will take a charge of about $30 million (18 million pounds) as a result of the move, which it expects to generate annual operating savings of more than $100 million.(Reporting By Sinead Carew; Editing by Gerald E. McCormick) Continue reading →

“We’re long past having to defend or explain why women should be on boards, given all the data that shows how companies with female as well as male directors perform better,” said Anne Mulcahy, former chairman and chief executive officer of Xerox Corp. and a director at Johnson & Johnson Co., Target Corp. and Washington Post Co. “It’s unfortunate when companies with a large percentage of women constituents don’t reflect that in their boardrooms.”A Catalyst survey of Fortune 500 companies found that those with three or more female directors outperformed those with fewer between 2005 and 2009, achieving on average 43 percent better return on equity. As Facebook prepares to raise $5 billion in an initial public offering, the composition of its board shows its ... Continue reading →