Picture This-Eastman Kodak:Could It Be in Its Final Days?!!

Corrine · Posted: Thu Jan 19, 2012 9:20 am Post subject:

Quote:

On January 19, 2012, Eastman Kodak Company and its U.S. subsidiaries filed voluntary petitions for Chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York. The business reorganization will enable Kodak to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines.

Non-U.S. subsidiaries outside are not part of the filings, are not subject to the Court proceedings, and are operating as usual.

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darksurfer · Posted: Thu Jan 19, 2012 11:14 am Post subject:

Well, I guess we'll have to see if Kodak will only be a shell of what it used to be or eventually head off in the way of the dinosaur--i.e. extinct.

Devilish

I would say buffalo, especially American buffalo, and I suppose also called bison. But they have come back from the brink of total annihilation--and that is a good thing.

http://en.wikipedia.org/wiki/American_Bison#Resurgence

Wink

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kelticwizard · Posted: Thu Jan 19, 2012 16:15 pm Post subject:

Chapter 11 doesn't necessarily mean any of those things, although they might. It gives businesses the chance to get creditors off their back while they reorganize, and many times they do come back and do well.

darksurfer · Posted: Thu Feb 09, 2012 14:28 pm Post subject:

It looks, now that they've filed Chapter 11 Bankruptcy, Eastman Kodak plans on stopping the manufacturing of digital cameras--to cut back on costs. Roll Eyes

http://www.nytimes.com/reuters/2012/02/09/...ak.html?hp
http://www.kodak.com/ek/US/en/Mors.htm
http://online.wsj.com/article/SB1000142405...42132.html

I think that their financial situation now is more precarious than first thought. Kodak, the company that created the digital camera, plans to stop the production of their invention!!!

If Kodak stops making their photographic equipment, bit by bit, their bread and butter, what is the whole point of this company, the creation of George Eastman.

This becomes sadder and sadder by the day . . so it seems! Frown

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