It’s very sad to see the state Kodak is in right now. Thanks to Kodak, Xerox, and Bausch & Lomb Rochester bloomed. Rochester used to be huge, everyone worked in the above three companies. You cannot go a day without meeting someone that worked at Kodak. Now, it might…actually it should, file for bankruptcy. What else is there to do? They are trying to sell patents worth around 3 billion dollars. These patents are worth more then the company itself. If they are successful in selling these patents will it save the company? I’m not a business major, so maybe, but how long will it last? Will it keep the company at bay for a while till they can come up with ideas on how to make money? Bankruptcy is obviously the last resort, but right now, the best resort. After they file for Chapter 11 bankruptcy they still can sell their patents. After they file for Chapter 11, they can start the rebuilding phase. I pray that it will work. If Rochester loses Kodak, how long will it take for Rochester to be a ghost town? The only thing technically booming right now in Rochester is the Optics field. Which I am lucky to be in. I hope Kodak can make it through this. I cannot imagine Rochester without it being affiliated with Kodak. George Eastman..I’m sorry.
Check out this video on why Kodak is failing today, they switched to Digital WAY to late.