Kodak files for bankruptcy

by doofiegirl POTL~PWCM~JLA Posted 2012/01/20 09:58:47

Related Topics: Bankruptcy, CNN, rumors, Digital, Video, Rumor, Electronic, Technology, 2012, Business

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Another giant in the business world is gone. Kodak has long struggled to evolve from film and compete in the digital age, even though it was an early pioneer of digital photography.

For months, bankruptcy rumors have dogged the venerable company, which was founded by George Eastman in 1888.

photography bankruptcy rumors dogged venerable company founded george eastman 1888

Chi~Cat 2012/01/20 11:59:35 (edited)

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I know a couple of drivers that for at least 15 years have been speaking and worrying of this. I do believe that Kodak had to restructure from within in order to compete with digital cameras, cell phones with cameras, etc. more than ten years ago, too. Hopefully, this American icon will pull out of this, restructure, and make sound choices to progress further into the future.

EDIT: Added Fortune article from 1983...I knew it was longer than 15 years

http://features.blogs.fortune...

http://articles.boston.com/20...

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doofieg... to Chi~Cat 2012/01/20 13:13:55

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THANKS!

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Chi~Cat to doofieg... 2012/01/20 13:26:07

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You bet!

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JoeBtfsplk 2012/01/20 11:41:23

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I didn't see it in this article, but I read somewhere that the problem Kodak is having stems from benefits/retirement - promised - that cannot be met.

This will be a continuing problem for Kodak and other corporations as the volume of retirees increases.

Too many concessions during good times-not enough profit in lean times.
(sound familiar? - think Social Security)

Expect to hear more of the same.

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Chi~Cat to JoeBtfsplk 2012/01/20 11:53:23

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Here ya go.

http://articles.boston.com/20...

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JoeBtfsplk to Chi~Cat 2012/01/20 11:58:08

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thanks but that doesn't mention the inability of Kodak to meet it's retirement pay-outs.

Odd that I cannot find the reference I read about this now.

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Chi~Cat to JoeBtfsplk 2012/01/20 12:01:22

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J, I never said it could meet, was just throwing a reference to ya, and thought perhaps it would a. either help, or b. perhaps jog your memory with all the media out there. That's all. Good Morning, by the way! ; )

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JoeBtfsplk to Chi~Cat 2012/01/20 12:05:24

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Thanks again and top of the mornin' to ya!

I

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iamthemob ~ the 444th Guru ~ 2012/01/20 10:14:50

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It's Chapter 11 - that's a restructuring, and means they plan to continue business.

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doofieg... to iamthem... 2012/01/20 10:29:55 (edited)

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The media did not make the difference in the wording apparent at first. I have to use the excuse of not enough coffee to notice this! It is my bad! http://money.cnn.com/2012/01/... This is what I first saw.

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iamthem... to doofieg... 2012/01/20 12:46:13

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They never do...I blame them not you.

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doofieg... to iamthem... 2012/01/20 13:16:06

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I Should read throughly, tho. I hardly ever do anything but scan the article! BTW,

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