How the mighty have fallen! Well, Kodak is certainly one of the more established names out there, and the film and photography giant might actually be preparing to file for bankruptcy, according to the Wall Street Journal. This particular scenario will happen in the coming weeks should it fail to sell its patents to willing buyers. Over the years, Eastman Kodak did make attempts to “reinvent itself” so to speak, as a technology company. It is a pity that the kind of consumer class digital cameras which they rolled out failed to resonate in a big way with the rest of the consumers out there, as they want a whole lot more than just a functional device. Style does win points too, you know.
Performance on the share market certainly reflects to a certain degree, the “health” of a company. Kodak’s shares have remained under $1 for 30 consecutive trading days, and the company has also dropped its global staff count to 18,800 from a high of 145,300 if you rewind the clock all the way back by a quarter of a century or so. It would be a pity to see such a history-rich company bite the dust, but sentiments are not going to help pull a company through tough times, that is for sure.
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- 2012-12-10 Apple and Google team up to buy Kodak's patents