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Photography pioneer Kodak files for long-expected bankruptcy
LA Times ^ | January 19, 2012, 9:02 a.m | By Tiffany Hsu

Posted on 01/19/2012 10:12:19 AM PST by Red Badger

Eastman Kodak Co., a vanguard name in photography, finally filed for Chapter 11 bankruptcy Thursday following falling sales and rising speculation about its ability to stay afloat.

The long-anticipated announcement came after weeks of early eulogies about the faded glory of the former trailblazer, once an American mainstay with products such Kodachrome photographic film and Instamatic cameras.

But printed photos seem well on their way to becoming a hipster curiosity as digital technologies -- which originated at Kodak decades ago -- now dominate on smartphones and, to a shrinking degree, cameras. The company, which was also exposed to heavy foreign competition and dwindling customers, has watched its liquidity situation worsen for years.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Culture/Society; US: New York
KEYWORDS: film; koda; photography; stock
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To: adorno

You don't need no steenking warranty!.............

21 posted on 01/19/2012 12:37:11 PM PST by Red Badger (If you are unemployed long enough, you are no longer unemployed.)
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To: EggsAckley
Ansel Adams just rolled over in his grave.

Indeed.

22 posted on 01/19/2012 12:42:58 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: oh8eleven
Thanks for that link -- fascinating time-line. I'd forgotten Kodak's forays into instant-developing cameras and copiers.

It's interesting to me how many small companies have been started up by former Kodak people, they're a bright bunch. Rochester's lucky to have them. I have to wonder how they'll make out in New York's dismal business climate, though.

23 posted on 01/19/2012 2:30:49 PM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: BfloGuy
It's interesting to me how many small companies have been started up by former Kodak people, they're a bright bunch.
Some of the people at Kodak Research Labs may have looked like Gary Larson characters - but were the smartest I'd ever come across in my life.
Rochester is actually doing okay financially, and in fact, the tool and die industry has had help wanted signs out for years.
Quite frankly, if not for the brutal winters, it would be the ideal place to live.
24 posted on 01/19/2012 4:53:27 PM PST by oh8eleven (RVN '67-'68)
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To: BuffaloJack

yep...the workers will get kicked into the “lucrative” Pension Guarentee group.....


25 posted on 01/19/2012 9:10:01 PM PST by cherry
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To: oh8eleven

“Quite frankly, if not for the brutal winters, it would be the ideal place to live. “

I live in the region. I agree with your statement to a point.

If not for the fact that it is in the political boundaries of NY State, it would be the ideal place to live.

I live one county over, and not far from the heart of the Finger Lakes region.

I love it here. I love the geography, the hills and lakes and windy roads and the open fields and the forests and farms and the people are actually quite genuinely friendly and courteous too. (Just stay out of Rochester proper).

(I get a kick out of it when out-of-towners express their surprise and bewilderment when someone holds a door for them at a store. Or when driving, lets them out into traffic or waits so the guy making a left can go - things we locals take for granted)

Yes the winter can be a bit much, but a lot of folks just go skiing, or snowmobiling, or sledding, or any number of winter activities. Some of us, me included just bitch about it. But that’s OK too. We all actually like it.

But the real killer is the fact that it is in NY. With the overbearing taxes and regulations and the anti business environment.


26 posted on 01/19/2012 9:25:28 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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