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19 Jan 2012 11:32 #71513
by chairman
ROCHESTER -- Eastman Kodak Co. filed for bankruptcy protection early Thursday, after the photography icon failed to raise fresh cash to fund a struggling turnaround effort.
The New York Stock Exchange (NYSE) said ahead of the US opening bell that it would suspend Kodak's stock immediately.
"NYSE Regulation has determined that the Company [Kodak] is no longer suitable for listing," the group said while citing "uncertainty as to the timing and outcome of the bankruptcy process, as well as the ultimate effect of this process on the Company's common stockholders
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19 Jan 2012 16:48 #71560
by Snoopster
Ironically, it was one of their engineers who invented the first digital camera way back in the late 70's. But instead of pioneering and staying at the forefront of this new technology they decided it would hamper sales of their number one product at the time, 35mm film. So they sat back and watched other companies bring out smaller and better digital cameras which eventually made the 35 mm obsolete and Kodak could never really catch up afterward.
Same thing happened with Sony and the 'Walkman' vs. the MP3 player.
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Kodak files for Chapter 11 bankruptcy
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