Kodak “one of the most angry companies to file for bankruptcy”

Commentary keeps rolling in on the decision by Eastman Kodak to file for Chapter 11 bankruptcy.

Here is a short video by three Wall Street Journal commentators:

I was amazed that the expected drop in film sales (by industry analysts) was 10%; the secret internal expected drop at Kodak’s top management was 20%; and the actual recent drop in film sales has been a whopping 40%.

Also, pay attention to the comment that Kodak was “angry” about it’s trip to bankruptcy court. Sounds like litigation — over alleged patent infringement — against Apple and others is in the offing!

Overall, though, there is a feeling of sadness, put into words by Toronto photography professor Robert Burley: “One of the interesting parts of this bankruptcy story is everyone’s saddened by it. There’s a kind of emotional connection to Kodak for many people. You could find that name inside every American household and, in the last five years, it’s disappeared. At the very least, digital technology will transform Kodak from a very big company to a smaller one. I think we all hope it won’t mean the end of Kodak because it still has a lot to offer.”

(The photo at top is Kodak founder George Eastman with Thomas Edison behind one of his cameras.)

 

By Doug Beaton

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