Kodak is filing for creditor protection today. Chapter 11 I think. Kind of depressing but from everything I have read it was greed that got them there. It sounds like they sat on digital camera technology (which they invented) rather than being the ones to introduce it because they wanted to continue to rake in the profits from their film and processing business. They got so big and bloated that it is not surprising that even with several successful very divisions they couldn't keep afloat. Imagine the impact this will have on the already beaten-down western NY area? Glad I got out of the stock with a modest profit I bet many did not.

No comments: