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19 Jan 2012 13:56

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Biz: More on Eastman Kodak’s filing for bankruptcy protection

  • 131 years in the making: As we mentioned a couple weeks ago, the former film titan, whose  business put cameras in the hands of millions of people, now enters a new phase in its long history, bankruptcy proceedings. New York Governor Andrew Cuomo called it “difficult and disappointing news,” which is understandable; their company was headquartered in Rochester, NY. Since 2003, Kodak has laid off about 47,000 employees, and now in bankruptcy protection their already weak stock price has plummeted to 34 cents per share. If you want to get really depressed about this story, read Alexis Madrigal’s great piece on the company’s history. source
Posted by Chris Tognotti • 0 Comments • Permalink

04 Jan 2012 21:07

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Biz: Kodak may soon file for bankruptcy

  • The end of an era: According to sources reported by The Wall Street Journal, the Eastman Kodak company sits on the verge of Chapter 11 bankruptcy, and is expected to file within the next couple weeks. Once a colossus in the world of film, advancements in digital technology inevitably hurt the company’s profits, straining an outdated business model; they’ve failed to turn a profit five of the last six years. Kodak employs about 19,000 people, and has heavy responsibilities to retirees — this is certainly not what the private sector job market needs right now. (Photo courtesy of alf sigaro) source
Posted by Chris Tognotti • 0 Comments • Permalink

25 Mar 2011 13:09

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Biz: Once-powerful Kodak now raising money by patent trolling

  • $1 billion — the amount Kodak wants to shake out of RIM & Apple source
  • » Wait wait, how sad is this? Kodak, one of the great companies of the 20th century — and probably the one most deserving of a Paul Simon tune — has been relegated to patent troll status. Kodak claims that they hold the patent to an image-preview feature commonly used in cameraphones. The company has lost half of its market value in the past year.
Posted by Ernie Smith • 0 Comments • Permalink

22 Jun 2009 15:02

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Biz, Tech: Why is Kodak getting rid of Kodachrome film? Progress.

  • 70% of the company’s profit comes from really good digital picture-taking technology
  • 1% of the company’s film sales come from inspirations for really good Paul Simon songs source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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