First-of-its-kind federal loan is boon for Memphis firm

Memphis-based Southeastern Asset Management struck gold this week, with its large stake in Eastman Kodak Co., the venerable maker of photographic film. Kodak, which has struggled in recent years, is getting into the drug production business through a first-of-its-kind, $765 million government loan. With the news, Kodak's stock shot up from $2 per share on July 24 to $33 per share July 29, before retreating to $23 by 11 a.m. July 31. Three investment funds managed by Southeastern increased their…