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Bankrupt! This Isn't A Kodak Moment!

| Filed under: Sad SadBusiness Blitz


Wow, even Kodak is going bankrupt…

The legendary film company is filing their Chapter 11 bankruptcy protection papers either this month or early February.

They're hoping someone buys them before then, but if not, it's dunzo!

And why?? Because shares have fallen a wrenching 30% all the way down to 44 cents. Ouch…

Isn't it sad when such staples of the world around you when you were growing up totally fail and catch fire when you grow up?

Good thing tons of other kinds of cameras come with "the future," ha!

[Image via WENN.]

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6 comments to “Bankrupt! This Isn't A Kodak Moment!”

  1. 1

    I literally can't believe this.

  2. 2

    Unfortunately, the employees, families, and city are not laughing.

  3. 3

    Not good! This sucks for everyone.

  4. 4

    Because I am more familiar with what actually happened - a few years ago, a new goup of "young, bright" people came in to manage the company. They made many bad decisions - it was the result of those decisions that bankrupted the company.

    Here is an example of an unrelated bad decision - HomeDepot got a new president - he looks at how much the company has tied up in inventory, and decides if he greatly reduces the inventory, he will increase their cash position. Well, he did, and got a nice bonus. Meanwhile the company got in serious trouble because they were often out of stock on many items, and were losing big bucks. Well, he left, and they went back to their previous stock levels.

    An example at Kodak was that the new guys decided they were spending way too much in their IT department, and let a bunch of people go. As a result, some processes (namely backup and multiple servers) got overlooked, and when they caught it, it cost them millions to recover.

    If they had had better management, they could have made decisions that would create new productas that would keep them in business.

  5. 5

    wow that's bad.

  6. 6

    I remember the domino affect after 911 and it slowly trickled down to Kodak. I don't think they ever recovered. That and technology of digital age.