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  #1  
Old 20-01-2012, 01:56 AM
gary
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Kodak files for Chapter 11

The Wall Street Journal is reporting that "Eastman Kodak Co. filed for Chapter 11 bankruptcy protection in New York early Thursday morning, after the struggling photography icon ran short on cash needed to fund a long-sputtering turnaround".

Story here (subscription to WSJ required) -
http://online.wsj.com/article/SB1000...031456052.html

LA Times article here (no subscription required) -
http://www.latimes.com/business/la-f...,4330047.story

Hopefully they will pull out of it.
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  #2  
Old 20-01-2012, 02:12 AM
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Thanks for the links Gary.

I heard about this today but couldn't find any information about it.

Looks to be the possible end of an Era, and a household name.
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Old 20-01-2012, 09:14 AM
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That's sad to see that happen to such an icon.
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Old 20-01-2012, 11:46 AM
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I certainly is sad to see. Kodak as with so many other people equipped my first ventures in photography. They were almost all there was.

Cheers
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  #5  
Old 20-01-2012, 12:07 PM
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Not surprising, but here's hoping their CCD chip manufacturing survives!
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Old 20-01-2012, 12:54 PM
gary
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IEEE Spectrum article on digital photography at Kodak Jan 2011

This time last year, the January edition of IEEE Spectrum had a special report
on the "Top 11 Technologies of the Decade".

At number 10 was digital photography and this article by Tekla S. Perry includes
the story of how Steven Sasson, an electrical engineer at Eastman Kodak,
"became the first person to pick up a digital camera and take a picture" in December
1975.

See http://spectrum.ieee.org/consumer-el...er-of-pixels/0

The article includes a picture of Sasson holding that proof of concept camera and
another which shows the large circuit boards inside the camera. At its heart, the camera
employed a 100 by 100 pixel CCD developed by Fairchild Semiconductor.

The article includes an abridged history of Kodak's continual involvement in
digital photography and ends with a cautionary warning from Sasson himself.
Now that most of us no longer store photographs in the shoebox ...

Quote:
Originally Posted by Steven Sasson
"How do you manage these images? How do you save them for 50 or 60 years, with format obsolescence, changing standards? Images are the only digital files that get more valuable the older they get."
When one also considers that Kodak employed a peak of 143,800 people in 1988
and that it is down to 18,800 today, that is only 24 years later, then it is also
a cautionary tale not to underestimate what the digital economy will be like
in another 24 years from now.
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Old 20-01-2012, 01:12 PM
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Remember that all is not lost for them. They declared "Chapter 11" bankruptcy and have found short term financing so they will continue to trade while restructuring...who knows, they may be able to turn it all around.
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Old 20-01-2012, 01:31 PM
gary
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Quote:
Originally Posted by wavelandscott View Post
Remember that all is not lost for them. They declared "Chapter 11" bankruptcy and have found short term financing so they will continue to trade while restructuring...who knows, they may be able to turn it all around.
Hi Scott,

An equivalent of Chapter 11 has been long called for in Australia.
For example see -
http://www.smh.com.au/business/chapt...0119-mj8l.html

Kodak have been signaling for some time that they were likely going to file, so
it would not have caught many off guard.

As you say, hopefully they can restructure and find some financing to see them
pull out of Chapter 11. Few companies have as much sentimental value attached
to them in the hearts of the public, so many wish them well and would like to
see them continue to live on.

http://www.youtube.com/watch?v=wZpaNJqF4po

Last edited by gary; 20-01-2012 at 01:42 PM.
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  #9  
Old 20-01-2012, 02:04 PM
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Octane (Humayun)
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I sincerely hope they don't kill film.

H
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  #10  
Old 20-01-2012, 06:47 PM
Stardrifter_WA
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Quote:
Originally Posted by Octane View Post
I sincerely hope they don't kill film.

H
Film What's that
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  #11  
Old 20-01-2012, 06:48 PM
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The stuff that pros still use.

H
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  #12  
Old 20-01-2012, 06:53 PM
Stardrifter_WA
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Quote:
Originally Posted by Octane View Post
The stuff that pros still use.

H
With some of the digital pro cameras I have seen, I am surprised.
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  #13  
Old 21-01-2012, 01:37 PM
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Quote:
Originally Posted by gary View Post
Hi Scott,

An equivalent of Chapter 11 has been long called for in Australia.
For example see -
http://www.smh.com.au/business/chapt...0119-mj8l.html

Kodak have been signaling for some time that they were likely going to file, so
it would not have caught many off guard.

As you say, hopefully they can restructure and find some financing to see them
pull out of Chapter 11. Few companies have as much sentimental value attached
to them in the hearts of the public, so many wish them well and would like to
see them continue to live on.

http://www.youtube.com/watch?v=wZpaNJqF4po
I hope they find a way to trade out too...I have a soft spot for the brand and also they are a customer of ours...
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