"...the Rochester, NY-based corporation lost 95 percent of its value between 1999 - 2000."
Is that right? 95% of it's value in a single year?
the rapid rise of digital photography destroyed Kodak's market
No more Kodak moments?! :O
News:Kodak is reportedly eying bankruptcy as a means to purge itself of obligations to fund retiree pensions, the cost of which makes it unattractive to possible buyers.
The Dirty Dogs don't want to honor their obligations to their retirees? They couldn't pull their heads out of their ~dark places~ and now, because of their mismanagement, their past employees get to eat dog food. They deserve to perish. Good Riddance.
Dogs are great judges of character, and if your dog doesn't like somebody being around, you shouldn't trust them.
It's sad that Kodak will now become one of those business school case studies. Stuck in the "don't run your business like this" category.
I'm with realneil. That really is an underhanded move by management to punish employees for its mistakes, but unfortunately it's becoming common.
Shame... Kodak was a memorable brand and while they may not have gotten the recognition they deserved recently; they still made good products. I suppose Kodak's failure should be a lesson to all that you have to advance quickly if you want to make it in this business.
"The future starts with you; now start posting more!"
Finding a way to get out of paying retirees' pensions? That's horrible. Those people paid, and did the time, with the expectation of a retirement strategy. Why do I think that the executives will all have retirement golden parachutes if the deal goes through? Disgusting. End of an era? GTFO Kodak. You suck ass.
It does not even require a full read of this article to realise that Kodak have been very slow to adapt to new technologies. Considering what their market share was they either had very poor advisors or they decided to be arrogant.
Let’s hope workers are not screwed out of their pensions. Can you picture that with a Kodak?
There is something to be said about such a pending failure. You would think that they would just sweep in on fuji and drive them.from the.film market. At the end of the day, their film products are excellent, and make good prints. Digital cameras take way better images than before, but 0's ans 1's don't react to true colors like chemical imaging mediums do. In conclusion, Kodak should have stuck to what they do best, corner an otherwise dying film market and save digital camera innovations for the next generation. I hope those people that worked for Kodak will get their pensions. Back in the day, Kodak was the place to work in Rochester. They paid well, treated their employees well, and in effect ran the city through positive leadership. To see what kodak's downfall has done to Rochester, look no further than Schenectady (GE) or Detroit for that matter.
Did you read the article? Corner a dying market? The death of film and rise of digital is why Kodak is where it is.
Wow, they ONLY took in $7.18 BILLION dollars last year, i can totally understand how they wouldnt be able to afford fulfilling their contractual obligations and paying out their employees pensions :rolleyes:
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